Raisin, Lightyear, Bunq, Trade Republic, Wise - online banks with good interest rates:

podgerodge said:
DIRT is payable on all savings. I haven't worked out the interest, but you seem to be calculating based on all the funds being in there for a full 18 months, which they aren't, or it would be a lump sum deposit.
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They pay 2% on the amount deposited each month, the maximum of which can be 1000 euro.

So 20 euro per month for 12 months = 240 gross, less DIRT.

Not sure what happens after the 12 months?
 
messyleo said:
The credit rating is listed on the Raisin site

All savings accounts that pay interest are liable for DIRT including regular savings accounts
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"Withholding tax" labels on different banks, something I just noticed.

Has this been discussed re Raisin deposits?

I had thought this wasn't applicable for non-residents?
 
It's slightly easier if there is no withholding tax, as you just declare the full interest to revenue in your end of year tax return - less paperwork.
 
BrokeBroker said:
They pay 2% on the amount deposited each month, the maximum of which can be 1000 euro.

So 20 euro per month for 12 months = 240 gross, less DIRT.
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Your calculations are way off for a regular saver.
It's 20 euro for a full year, not 1 month.

So for 1 year, it would be:

1000*12/12*2%
+1000*11/12*2%
+1000*10/12*2%
+1000*9/12*2%
Etc
 
Last edited:
Interest calculation for the first year regular saver can be written as follows:

6.5*monthly payment* interest.

6.5 =12/12 + 11/12 +...+ 1/12

So for aib it's 6.5*1000*2%=€130 gross interest at the end of year one.
 
@Lightning Bux says the 2.30% is payable "on univested cash balances up to €25,000"
https://support.bux.com/en/support/...how-do-i-receive-interest-on-my-cash-balance-
 
messyleo said:
If you want the best security rating and no witholding tax, Younited are worth a look via Raisin. A lower rate but an AA rating
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The credit ratings noted on the Raisin website are pretty misleading. If you look, they're actually quoting the credit rating of the country, not the actual financial institution. Younited doesn't even have a credit rating. France has an AA rating but that's irrelevant when your deposit will be with Younited, not the French Government. Pretty much all the banks on Raisin have a poor or no credit rating at all so something to be conscious of.
 
Lightning said:
Revolut don't pay deposit interest in Ireland. Revolut do pay deposit interest in some other countries.

Similar with N26, no deposit interest in Ireland but N26 do pay deposit interest in other countries.
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Will Revolut and N26 be allowed pay interest in Ireland at some point do you know? Is it related to having a full banking licence here?
 
DoraExplora said:
Will Revolut and N26 be allowed pay interest in Ireland at some point do you know? Is it related to having a full banking licence here?
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They are allowed pay interest today. They choose not too. Because they get away with it. They earn a fortune off taking deposits and paying nothing in interest.
 
Lightning said:
They are allowed pay interest today. They choose not too. Because they get away with it. They earn a fortune off taking deposits and paying nothing in interest.
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Ok but isn't N26 a German financial institution registered in Germany ? I know Revolut is now registered in Ireland (we have a Irish IBAN), but my N26 accounts still shows a german IBAN, so how can N26 not pay interests in Ireland when it's a german financial institution registered in Germany ? I don't understand....is it done only on the basis that the account holder is resident in Ireland even if the account is held in Germany, can that be done ?
 
It has nothing to do with any of that. They can pay interest if they want. They just don't.
 
It’s not good enough is it. I would love to make Revolut my main bank but I won’t do that if they continue not to pay interest on balances. I have a big USD deposit with them now. I was waiting for a better fx rate before conversion to euro and transfer to Raisin.
 
There are a number of reasons I'd be very slow to make Revolut my main account. Not paying interest on balances is the least of them.
 
I've been procrastinating for months and still somewhat skeptical about online banks, for no good reason other than unfounded paranoia I suppose.

The highest Euro rate I've seen so far is Šiaulių Bankas in Lithuania, paying 4.05% after 12 months fixed, open to non-residents. Not a recommendation.
 
Lisboa said:
The highest Euro rate I've seen so far is Šiaulių Bankas in Lithuania, paying 4.05% after 12 months fixed, open to non-residents. Not a recommendation.
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Their website suggests that you need to be a Lithuanian citizen to open an account remotely.
 
Freelance said:
There are a number of reasons I'd be very slow to make Revolut my main account. Not paying interest on balances is the least of them.
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Well I guess many of us hesitate but where is the basis for this fear when they have EU / Irish banking licenses?
 
I have looked but I cannot find an answer. Does Raisin only support euro deposits in euro zone countries? I want to deposit USD but it seems like I can’t do that
 
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