Is Raisin safe? How your money is protected
Your savings, protected by design
Raisin is a modern financial technology platform that allows you to manage multiple high-yield savings products through a single secure dashboard. Your funds are never held by Raisin; instead, they are deposited directly at federally insured partner banks or credit unions.
At Raisin, we understand that who you choose to trust with your money is a significant decision. In a world of evolving financial technology, we believe transparency is the foundation of trust. We’ve built our platform on a bank-led architecture. This means that while we provide the technology to help you deposit and manage your funds, your money and the records of your transactions are always held by federally regulated financial institutions.
Below, we break down how our platform works, how your savings are protected, and how we handle platform protection by design.
Raisin never holds your money
Raisin is committed to keeping your money protected, which is why Raisin never holds your funds. We have intentionally structured our platform so that all critical functions are performed by federally regulated banks, not by us.
The service bank
A federally regulated bank manages the movement of your funds via the automated clearing house (ACH) network.
The custodial bank
A licensed U.S. bank acts as the custodial holder of your funds, maintaining the official records of your account.
The product bank or credit union
Your chosen bank or credit union, where your deposits are held by the custodial bank.
Unlike other platforms, Raisin is designed to ensure that customer funds are always kept strictly separate. There is no commingling, and your money will never be mixed with non-customer or Raisin funds. Customer funds are always held independently by the custodial bank solely for the customer's benefit.
Redundant recordkeeping at every step
A common concern with digital platforms is whether your name is actually "on the books" at the bank. Raisin solves this through a distributed recordkeeping system where your data is synchronized across multiple regulated partners every business day.
Daily syncs
Each business day, Raisin sends granular records to partner institutions, which maintain them per federal recordkeeping standards.
Partner-synchronized recordkeeping
Both our custodial bank and service bank maintain their own copies of who owns the funds.
Verified accuracy
We reconcile records daily across Raisin, the custodial bank, and your product bank or credit union to ensure strict alignment.
Our bank-led model goes above and beyond
The table below outlines how our security model stacks up against traditional intermediary structures to support your savings goals.
Who knows who you are? | The service and custodial banks hold your full identity independently | Only the fintech — if they fail, the bank is "blind" |
Where are the records? | Distributed ledgers held independently at multiple regulated banks | One central, private ledger |
Daily syncing? | Automated 24-hour sync across partners | Heightened risk of manual or delayed reconciliations |
Who holds your money? | Bank-grade security; only insured banks hold funds | Risk of commingled funds held directly by the platform |
Sophisticated safeguards to protect your account and identity
Raisin implements an advanced, multi-layered cybersecurity defense system built to strictly safeguard your privacy and financial data.
Independently verified standards
Our SOC 2 certification confirms our security measures are properly audited by an independent third party.
Advanced digital defense
We use SSL encryption, firewalls, and regular penetration testing to block threats.
Secure access and fraud protection
Multi-factor authentication and unique customer IDs help to protect your account from unauthorized access.
Your deposits are eligible for $10M+ in federal deposit insurance coverage
Your deposits made through Raisin are held in accounts eligible for FDIC or NCUA insurance, up to $250,000 per depositor, per institution, subject to certain conditions.
And, because Raisin works with 100+ federally insured banks and credit unions, you can spread your savings across multiple partners to access more than $10 million in total deposit insurance coverage†
What if Raisin fails or were to close?
We have a plan for every eventuality and while we have built Raisin to last, we also believe in being prepared for any scenario.
Direct access
If Raisin stops operating, our service and custodial banks have the necessary records to send funds directly back to your linked account.
Continuous protection
Regulated partner institutions hold funds directly so your money remains protected in case of any disruptions on our platform.
Regulated oversight
Our partner banks undergo routine federal examinations to ensure deposits remain safe and protected.
Frequently asked questions
Is Raisin safe? How is my money protected?
Yes. Raisin is designed with a bank-led architecture, which means your savings are held exclusively by federally regulated partner financial institutions. Your deposits are held in accounts eligible for FDIC or NCUA insurance, up to $250,000 per depositor, per institution, subject to certain conditions. Because your money is held by these partner institutions and not by Raisin, your funds remain safe even in the highly unlikely event that Raisin were to close.
What is "pass-through" deposit insurance, and does it apply to my Raisin accounts?
Pass-through deposit insurance is a mechanism that allows federal deposit insurance coverage to flow through an intermediary — like a custodial bank — directly to you, the individual depositor. At Raisin, your funds are deposited into a custodial account held for the benefit of Raisin customers. Because our systems maintain daily, synchronized records of individual ownership, your deposits remain fully eligible for FDIC or NCUA insurance, up to $250,000 per depositor, per institution, subject to certain conditions.
How does Raisin safely verify my identity and store my sensitive data?
Raisin uses industry-leading, bank-grade protocols to protect your personal and financial information. When you open an account, we reliably verify your identity using advanced digital verification systems. Your data is protected by multi-factor authentication, SSL encryption, and strict firewalls, all of which are independently audited and certified under SOC 2 standard protocols.
Have more questions? We’re here to help.
Our support team is available Monday through Friday from 8 a.m. – 8 p.m. ET. Call 844-994-EARN (3276) or email us at support.us@raisin.com.
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© 2026 Raisin SE. All rights reserved.
The Raisin name and logo are trademarks of Raisin SE. All other trademarks, logos, marks, and brand names are the property of their respective owners.
*APY means Annual Percentage Yield. APY is accurate as of August 1, 2026. Interest rate and APY may change after initial deposit depending on the terms of the specific product selected. Minimum opening deposit is $1.00.
Raisin is not an FDIC-insured bank, and FDIC deposit insurance only covers the failure of an insured bank.
Raisin is not an NCUA-insured credit union. NCUA deposit insurance only covers the failure of an insured credit union.
Raisin does not hold any customer funds. Customer funds are held in various custodial deposit accounts. Each customer authorizes the Custodial Bank to hold the customer’s funds in such accounts, in a custodial capacity, in order to effectuate the customer’s deposits to and withdrawals from the various bank and credit union products that the customer requests through Raisin.com. The Custodial Bank does not establish the terms of the bank or credit union products and provides no advice to customers about bank or credit union products offered by the applicable bank or credit union through Raisin.com. Each customer also authorizes the Service Bank to move funds among the various banks and credit unions at the customer’s request. First International Bank & Trust (FIBT), Member FDIC, is the Service Bank. Bell Bank and Starion Bank, each Member FDIC, are the Custodial Banks.
†Based on $250,000 in FDIC or NCUA insurance coverage per insurable category of ownership at each partner bank or credit union on the Raisin platform (each a "Product Bank"), when aggregated with all other deposits held by you at such Product Bank and in the same insurable category. Deposits made through Raisin will be eligible to receive deposit insurance from the FDIC or the NCUA (each a "Deposit Insurer") in accordance with and up to the maximum amount permitted by law at each Product Bank. Raisin is not a bank or credit union and does not hold any customer funds. Funds are held at FDIC-insured banks and NCUA-insured credit unions. Deposit insurance covers the failure of an insured bank or credit union. Certain conditions must be satisfied for pass through deposit insurance coverage to apply. Customers may choose to deposit funds with identically registered accounts at different Product Banks on the Raisin platform to be eligible for Deposit Insurer coverage up to $10 million for individual accounts and $20 million for joint accounts when at least 40 Product Banks are utilized. Please be aware, however, that any deposits you have at a Product Bank, whether through the Raisin platform or outside the Raisin platform, that you may hold in the same capacity (such as in an individual capacity or joint capacity) count toward the applicable Deposit Insurer's deposit insurance maximum amount, and any such amounts that you hold in the same capacity at a Product Bank that exceed the maximum insurance coverage by the applicable Deposit Insurer will not be insured. For more information on FDIC deposit insurance, please see here. For more information on the NCUA share insurance fund, please see here. You are solely responsible for monitoring the amount of funds you have on deposit at each a Product Bank, whether through the Raisin platform or outside the Raisin platform, to confirm that the deposits you hold in the same capacity at each Product Bank do not exceed the maximum deposit insurance coverage provided by the applicable Deposit Insurer.