Third bank onboard for Raisin’s European deposit marketplace
Berlin-based Raisin has gained a third partner bank on its pan-European deposit marketplace website, Euram Bank in Austria.
The latest partnership follows on from deals with Poland-based Alior Bank and J&T Banka in the Czech Republic.
Dr. Tamaz Geordgaze, CEO and founder of Raisin, says the level of Euram’s equity has remained at an “excellent” level for the last few years. As an example, the total capital ratio, amounting to 23.5% in 2015, has been “consistently higher than the statutory minimum amount”.
Euram Bank, an independent private bank founded in 1999, operates in the areas of private and investment banking for Austrian and international individuals, entrepreneurs and institutional investors.
Raisin had a European-wide launch on 6 April this year, following its 2013 debut in Germany where it operates under the name WeltSparen. The firm says its 35,000 customers have deposited €1 billion on its platform.
The firm says it allows customers to deposit money in accounts with higher interest rates than those available in their home country.
“Europeans have more than €10 trillion in savings, often locked away in low interest savings accounts. Raisin allows them to increase the interest they earn by as much as four-fold under guarantee schemes that are harmonised EU-wide,” said Georgadze in April.
The company says all deposits are 100% guaranteed up to €100,000 per saver and bank by each national Deposit Guarantee Scheme in accordance with EU directives. Raisin doesn’t charge any set-up fees and currently offers interest rates of up to 2.2% via its partner banks.