Raisin Suspend New Irish Signups - CB says that they need a license

Discussion in 'Deposits' started by CiaranT, Dec 10, 2016.

  1. CiaranT

    CiaranT .

    Posts:
    4,359
    Raisin, who provide a pan European deposit marketplace, are no longer accepting applications from new customers from Ireland.

    No other country seems to be affected. Existing customers seem to be unaffected too.

    No reason given. Raisin say they are working on re-accepting Irish signups.

    Real shame, Raisin were providing some decent competition in the term deposit market. Hopefully, this is just a short term temporary issue.

    I will update the best buys shortly.
     
  2. CiaranT

    CiaranT .

    Posts:
    4,359
    Raisin have emailed me with the below:

     
  3. mtk

    mtk Frequent Poster

    Posts:
    298
    Wonder what this is all about ??? What's the cbi concern ?
     
  4. CiaranT

    CiaranT .

    Posts:
    4,359
    Might be something simple like Raisin being forced to register as a deposit taker in Ireland and the CBI being slow to process. Might be something else.
     
  5. Gordon Gekko

    Gordon Gekko Frequent Poster

    Posts:
    1,586
    More of the usual rubbish from the Central Bank. Block people like Frank and Raisin. Do nothing about the dodgy Irish operators and let the consumer eat cake. Laughable.
     
  6. CiaranT

    CiaranT .

    Posts:
    4,359
    Niall Brady in the Sunday Times reports on this here. (Paywall but free to read 2 articles per week after you register for free).

    Raisin are now operating in every single EU country except Ireland.

    The reason that they have stopped Irish sign ups in the the CBI are saying that Raisin need a license.

     
  7. CiaranT

    CiaranT .

    Posts:
    4,359
    The latest ...

    The Sunday Times reports from Raisin that ...
    “We continue to work on a concept that will allow Raisin to accept customers residing in Ireland again soon,” it said. “We will inform the Irish audience as soon as this is the case.”

    Raisin also expressed frustration that the Central Bank of Ireland was the only regulator that required local regulation in Europe.