How can I be sure Raisin is legitimate?

Your hard-earned savings deserve elite protection. It’s essential to choose a legitimate, reputable platform that upholds the highest cybersecurity standards, like SOC 2 certification.

If you are looking to boost your savings, Raisin offers a streamlined way to access competitive interest rates and unique products from a diverse network of federally insured financial institutions — all managed through a single, secure login. But before you fund an account, you might naturally wonder: Is Raisin legitimate?

Below, we break down how the platform works, how your cash is protected, and how Raisin simplifies the savings experience.

Raisin is a free online financial technology platform that allows savers to find, fund, and manage high-yield savings accounts, money market deposit accounts, and certificates of deposit (CDs) from a network of over 100 partner banks and credit unions using a single secure login.

By removing the administrative hassle of managing multiple passwords and transfers across different institutions, the platform provides a streamlined way to manage your funds, allowing savers to easily spread their cash across different institutions.

Yes, Raisin is a legitimate financial technology platform. Since its global launch in 2012, Raisin has grown to serve more than 1 million customers, facilitating over $90 billion in deposits across more than 400 partner institutions worldwide, including over 100 banks and credit unions in the United States.

The proof is in the scale of our network. Over 100 U.S.banks and credit unions — and 325 worldwide — have chosen to offer their products directly through the Raisin platform. This extensive integration demonstrates that the country's leading financial institutions trust Raisin's SOC 2-certified infrastructure to service depositors.

Many savers choose to use the platform to quickly move their savings between different institutions as macroeconomic conditions shift, without the friction of opening entirely new bank accounts.

Yes, Raisin is safe. As a SOC 2-certified organization, Raisin adheres to rigorous data security standards established by the American Institute of Certified Public Accountants (AICPA). The platform utilizes multi-factor authentication (MFA), advanced encryption, and state-of-the-art firewalls to keep customer details protected.

No, Raisin is not a bank. Raisin is a financial technology platform that brings a network of banks right to you. When you deposit money using your single secure login, those funds are held at our partner banks or credit unions, all of which are federally insured.

Raisin is not a bank and never holds your funds. Your money is always handled by a federally regulated financial institution — whether in transit, stored in the cash account, or in an account at a partner bank. Even in the highly unlikely event that Raisin stops operating, your deposits would not be lost. This is because funds deposited through Raisin are exclusively held in custodial accounts at federally regulated financial institutions. Customer funds are kept segregated in these accounts and are never co-mingled with Raisin funds.

While Raisin itself is not a depository institution, all customer deposits placed through the platform are held in accounts eligible for FDIC or NCUA insurance, up to $250,000 per institution, per depositor, subject to certain conditions.

This arrangement is often referred to as "pass-through" deposit insurance. Because you can spread your savings across multiple partner institutions through our single platform, you can access coverage up to $10 million in deposit protection across our partner network — with each account eligible for FDIC or NCUA insurance, up to $250,000 per institution, per depositor, subject to certain conditions — without ever needing to manage separate account credentials at different banks.

If you would like to review the specific encryption protocols, custodial account structures, and system architecture we use to safeguard your financial profile, please view our comprehensive security page.

The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.