About Ponce Bank
Ponce Bank was born in The Bronx in 1960, a time when most banks had abandoned what was then perceived to be a community in decline but in which our founders saw nothing but the potential of proud neighborhoods anchored by a strong immigrant work ethic and entrepreneurial spirit. They dreamed that all that was needed was a financial fuel. And in the 60 years since, we’ve provided that fuel for this engine of creativity and resilience and we’ve helped develop pockets of this spirit throughout The Bronx, Brooklyn, Queens, Manhattan and New Jersey. We never landed in comfortable places, choosing to help where help was needed most, and during this time we’ve become trusted partners throughout the communities we serve.
Our designation as a Community Development Financial Institution (CDFI) certifies this role as an investor in the future of underserved and underbanked communities.
Ponce Bank. Dreamers Welcome.
Invests in underserved and underbanked communities
Minority Depository Institution
Ponce Bank is recognized as a Minority Depository Institution (MDI). It is managed by Latinos and is focused on communities of color and immigrants, and Latinos particularly.
Offering Savings and CDs
Ponce Bank offers competitive savings products exclusively through Raisin
Security Is Our Top Priority
Cybersecurity is a top priority at Raisin
Ponce Bank, Powered by Raisin
Ponce Bank uses the secure Raisin platform to offer savings products to savers nationwide. Customers open accounts at Raisin.com, and the platform manages all aspects of the products offered by Ponce Bank, including a customer's deposits and withdrawals, statements and any customer service needs. In simple terms, Raisin provides you exclusive access to a special selection of Ponce Bank products. Best of all, Raisin is completely free!
Security: Funds deposited into any of the products accessible through Raisin are held by federally insured institutions. We use a host of cybersecurity measures to protect your funds and sensitive information.
Choice: Savings products from our network of financial institutions offer flexible terms and some of the most competitive interest rates. You can easily find the right product or mix of products for you.
Convenience: One account to hold all your deposit products. Simplified statements. Easy access to manage your funds – all through a streamlined digital platform.
Service: A supportive, accessible, responsive customer service team based in New York, NY, sets Raisin apart.
Access: Enjoy 24/7 online access to your account and funds.
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Open an Account in 3-5 Minutes
the right product for your savings goals.
with an email address and password, then verify your identity and bank information.
the savings products you add to your new Raisin account.
Raisin is a digital platform that gives savers unparalleled access to a variety of deposit products through the convenience of a single account, helping you unlock the growth potential of your cash savings.
Raisin customers use the platform to fund Federal Deposit Insurance Corp. (FDIC) insured deposit products offered by numerous U.S. banks with a wide range of maturities and interest rates, allowing you to build a savings strategy to suit your earning and liquidity needs.
Raisin is not a bank. It’s a New York-based financial technology company (“Fintech” for short) that provides the digital “storefront” where banks can promote their deposit products.
Raisin.com is operated by Raisin LLC, a 100% subsidiary of Deposit Solutions LLC (Deposit Solutions). Headquartered in New York, Deposit Solutions provides a proprietary open architecture platform for deposits products. Deposit Solutions helps banks improve their deposit funding by offering national reach for their retail deposit products, and provides savers with better access, more choice and higher convenience when evaluating savings products from FDIC insured banks.
Deposit Solutions LLC is a 100% subsidiary of Raisin GmbH, a trailblazer for open banking in the deposits and investments space.
Your Raisin account gives you access to savings accounts and Certificates of Deposit (CDs) offered by a variety of banks with the security of FDIC insurance. These products include:
High-yield Savings Account (HYSA). As its name indicates, this account type functions like a traditional savings account—with typically no restrictions on depositing and withdrawing funds—but earns interest at rates that are higher than the national average for standard savings accounts.
Money Market Deposit Account (MMDA). Also known as a money market account or MMA, this type of savings account offers a varying rate that allows you to earn interest on your funds with maximum flexibility for withdrawals. Like a HYSA, an MMDA offers features of a traditional savings account with typically higher returns.
No Penalty CD. Through the flexibility of a No Penalty CD, you can lock in a competitive rate for a fixed term with the option to make a full withdrawal without having to pay a penalty for the early termination. Terms and conditions may vary by product. Please see specific product terms for more details.
Fixed Term CD. With this longstanding savings vehicle, funds are held for a fixed term, and a competitive interest rate provides safe, predictable earnings. In contrast to No Penalty CDs, typically you are charged a fee if you do not complete the full term of the Fixed Term CD.
Interest is compounded daily and posted to your account monthly.
Yes! A depositor’s savings are insured by the FDIC up to the maximum amount in accordance with and as permitted by law at each bank holding their funds.
The standard deposit insurance coverage limit is $250,000 per depositor, per FDIC-insured bank, per account ownership category. Ownership categories as defined by the FDIC include single bank accounts (owned by one person/depositor) and joint bank accounts (owned by two or more persons/depositors). Revocable trust accounts and some types of retirement accounts (e.g., IRAs) are among the other ownership categories covered by FDIC insurance.
Deposits held in different ownership categories are separately insured, even if held at the same bank.
All deposits you have at a bank — whether made through Raisin or otherwise — count toward the deposit insurance limit. If funds held at a bank in a certain ownership category exceed the coverage limit, then the amount in excess of the limit will not be insured.
At Raisin, cybersecurity is our priority. Raisin is a SOC 2 certified platform, meaning it has been validated by outside auditors across five (5) key information security principles. We also use a variety of measures to protect our customers' data, privacy and transactions, including:
• User authentication. The Raisin platform uses multi-factor authentication combined with leading authentication technology to validate our customers’ identities.
• Data encryption. Your personal information is encrypted in-transit and at rest using advanced cryptographic security algorithms.
• Site protection. Web application firewall advanced internet protection technologies are implemented to protect Raisin.com from malicious actors, botnets and denial of service attacks (DDOS).
• Monitoring. An always-on information security monitoring platform detects and alerts us to information security events.
• Assessments. Our platform undergoes vigorous security assessments and testing throughout the lifecycle of application development, from architecture planning to production phases.
Cloudflare™ is a registered trademark of Cloudflare, Inc.
A. Check out our savings marketplace and choose a product in which you would like to deposit money.
B. Create your username and password.
C. Complete an application and, after successful identity verification, link a bank account from which to fund your first savings product.
D. Start earning interest as soon as your money is received by the bank.
Any questions or concerns? Email us at email@example.com.
All deposits and withdrawals are completed within one to three (1-3) business days. After the initial deposit a withdrawals limitation for the first few business days may exist.
Business days are Monday through Friday excluding U.S. bank holidays.
No. All necessary registration is handled when you become a Raisin customer. One of the many benefits of our platform is that you can open a single account and earn competitive interest rates from banks in the Raisin network.
The current APY for your savings products can always be viewed on the Account Overview page when you are logged in to Raisin. This information also appears on monthly statements.
You cannot currently link your Raisin account to a third-party app, but we may offer this feature in the future. For now, you will not be able to link your selected savings product to a third-party app even if the bank offering that product does so outside of the Raisin platform.