Is Raisin UK FSCS protected? Where your money is actually held

Raisin is not a bank. Your money first sits in a Transaction Account in your name at ClearBank Limited, then Raisin, as your bare trustee, places it with the partner bank you choose; it is an FSCS-protected deposit at each step, up to £120,000 per person at each bank's licence. That limit is shared with money you hold at the same bank directly or through any other platform, and the ClearBank step shares ClearBank's single limit with other apps that use it.

Raisin UK is an FCA-authorised savings marketplace (investment and payment services firm), not a bank: customers contract with Raisin Platforms Limited (FCA firm reference 813894). Every statement below is taken from the source named beneath it, last checked 22 October 2026. It is information, not advice.

Who holds the money, product by product

Who Raisin UK is

Raisin UK is a trading name of Raisin Platforms Limited (company 11075085), which holds FCA firm reference 813894 for investment services and 978619 for payment services. It is not a bank and does not take deposits itself. Since 30 June 2025 it has been the bare trustee and deposit administrator for savings placed through Raisin UK, replacing Meteor Asset Management; its ultimate parent is Raisin SE of Germany.

How each product is protected

In the trust model, money moves from your ClearBank Transaction Account to Raisin's trust account at ClearBank, then within two business days to the partner bank, where it is "held in our name as your trustee on bare trust for you", by default in a pooled account. Raisin states that funds are FSCS-covered throughout, because the Transaction Account and the trust account are ClearBank deposits and the placed money is a deposit at the partner bank.

Cover passes from one bank to the next: ClearBank's terms state that once funds are transferred to a partner bank they "will no longer be covered by ClearBank's FSCS protection", and the partner bank's own FSCS cover applies from then on. Raisin earns a fee from partner banks and a share of the interest ClearBank earns on customer balances.

If Raisin UK or a partner bank fails

Raisin's terms state that if it is unable to meet its obligations, "you will remain the beneficial owner of any Deposits or Funds we hold as your trustee"; the money stays with the partner bank and ClearBank, and Raisin says it would contact customers with options for their deposits. No timescale for access if Raisin itself failed was found.

If a partner bank fails, the FSCS pays up to £120,000 per person across that banking licence. Raisin says money held directly with the bank is usually returned within a day, while money held under its trust model "can take up to three months to be returned", with Raisin able to claim on customers' behalf; any shortfall above the limit is shared among creditors.

Does it share your FSCS limit?

Yes. Raisin's trust terms state that the FSCS limit "applies to the total of all balances you hold with the same authorised firm (including any other member of its group sharing the same banking licence), whether held directly with that firm, through Raisin, or via any other platform." Raisin caps what you can place with each bank at the FSCS limit, counting brands on one licence such as Whiteaway Laidlaw and Shawbrook, but only sees money held through Raisin.

Money waiting in the Transaction Account counts toward ClearBank's single £120,000 limit, which ClearBank also applies to deposits held through its other intermediaries, including Revolut, Tide, Coinbase, Chip and Wealthify. Raisin notes that other products held with ClearBank "may limit the amount protected in your Raisin UK Transaction Account."

Size

Raisin Platforms Limited made a profit of £2.8 million in 2025, its first, on turnover of £16.2 million (2024: loss of £2.7 million); it had 66 staff on average. Its accounts give growth rates only (registered customers up 13% in 2025) and no UK customer or deposit totals; the Raisin group says it holds over €80 billion for more than one million savers across all its countries.

Regulatory record since 2020

No FCA fine, final notice or enforcement action against Raisin Platforms Limited was found. The only FCA result for "raisin" is a 2023 warning about fraudsters posing as "Raisin Finance / Raisin UK", which concerns impostors, not the firm.

The fine print

Raisin may change its service bank on two months' written notice and withdraw its trust arrangement on 30 days' notice. Withdrawals from the Transaction Account can go only to your nominated account in your own name, and maturing deposits return to the Transaction Account within two business days unless reinvested.

Some FSCS information sheets Raisin supplies for individual banks still quote the old £85,000 limit (for example Byblos Bank Europe's); the limit has been £120,000 since 1 December 2025, and Raisin's own pages quote £120,000.

Frequently asked questions

Is Raisin UK FSCS protected?

Raisin is not a bank. Your money first sits in a Transaction Account in your name at ClearBank Limited, then Raisin, as your bare trustee, places it with the partner bank you choose; it is an FSCS-protected deposit at each step, up to £120,000 per person at each bank's licence. That limit is shared with money you hold at the same bank directly or through any other platform, and the ClearBank step shares ClearBank's single limit with other apps that use it.

Which bank holds my Raisin UK money?

Transaction Account and Raisin Cash ISA (money waiting to be placed): ClearBank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Aldermore Bank PLC (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Alpha Bank London Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): AlRayan Bank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Atom Bank PLC (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): British Arab Commercial Bank plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Bank of Ceylon (UK) Ltd (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): BNF Bank plc, London Branch (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Bank of the Philippine Islands (Europe) Plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Brown Shipley and Company Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Byblos Bank Europe SA, London branch (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): FCMB Bank UK Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): FidBank UK Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Furness Building Society (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Halcyon Money (Transave Credit Union Ltd) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Hampshire Trust Bank Plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): HBL Bank UK Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): ICICI Bank UK Plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Investec Bank plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Türkiye İş Bankası A.Ş., London Branch (Isbank UK) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Kroo Bank Ltd (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Kuwait Finance House PLC (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): LHV Bank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Melton Mowbray Building Society (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Mizrahi Tefahot Bank, London Branch (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Monument Bank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Morgan Stanley Bank International Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): National Bank of Egypt (UK) Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): National Bank of Kuwait (International) PLC (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): OakNorth Bank plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Paragon Bank plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Perenna Bank PLC (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Plane Saver Credit Union Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Punjab National Bank (International) Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): QIB (UK) plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): RCI Bank UK Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Santander Financial Services plc (Santander International) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Scottish Building Society (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Shawbrook Bank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): StreamBank PLC (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Teachers' Building Society (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): This Bank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Tipton and Coseley Building Society (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): United National Bank Limited (UBL UK) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): Vida Bank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Fixed rate, notice and easy access accounts (45 partner banks with live products): T C Ziraat Bankası A.Ş., London Branch (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence).

What happens if Raisin UK goes bust?

Raisin's terms state that if it is unable to meet its obligations, "you will remain the beneficial owner of any Deposits or Funds we hold as your trustee"; the money stays with the partner bank and ClearBank, and Raisin says it would contact customers with options for their deposits. No timescale for access if Raisin itself failed was found.

Does Raisin UK share the FSCS limit with my other savings?

Yes. Raisin's trust terms state that the FSCS limit "applies to the total of all balances you hold with the same authorised firm (including any other member of its group sharing the same banking licence), whether held directly with that firm, through Raisin, or via any other platform." Raisin caps what you can place with each bank at the FSCS limit, counting brands on one licence such as Whiteaway Laidlaw and Shawbrook, but only sees money held through Raisin.

More: other savings apps and platforms, how FSCS protection works and which banks share a banking licence.