Raisin seems to be using its Ireland-only portal to offer products dramatically inferior to what it offers in other European markets. Seems to have degenerated into yet another Irish consumer ripoff.
They seem to be offering a welcome bonus of up to €100 which raises the effective interest rates slightly. Unclear if this is or should be subject to DIRT.
There is also the time cost of the more complicated tax treatment, needing to present residence certificates (at the appropriate time) from Revenue to avoid withholding tax at the foreign bank, and then manually return the DIRT here. See https://www.raisin.ie/tax/
Hopefully if you mess up the admin you can offset any foreign withholding tax deducted against your DIRT liability?
“There are currently 26 products available on Raisin.ie [and] given the number of banks that are interested in the market, we see this number doubling in the following months with at least three more banks slated to join the platform in the short term.
The Raisin bonus is dependent on depositing funds (and the amount of bonus depends on the amount of deposit) so my understanding is it should be subject to DIRT.DIRT / foreign deposit interest tax is not deduced at source from the bonus.
KBC offer bonuses to students which are not subject to DIRT.
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