Get £100 with the Raisin referral bonus
If you already keep cash savings with more than one bank, or you're simply tired of chasing the best interest rate around, the Raisin referral bonus is worth knowing about before you open your next fixed rate bond. Refer a friend to Raisin UK, and both of you can receive £100 once the new customer opens and funds a qualifying account. It's a straightforward reward for doing something worthwhile anyway — putting spare cash into a competitively priced, FSCS-protected savings product.
This Raisin referral is aimed squarely at people who are already comfortable moving a meaningful lump sum into savings, since the qualifying deposit is higher than many other cashback and referral schemes. It suits savers with £10,000 or more sitting in a low-interest current account or maturing elsewhere, who are happy to lock it away in a fixed rate bond for a year or longer in exchange for a better rate and a £100 bonus on top.
Below, we cover exactly what the Raisin referral offer involves, how the platform itself works, what to expect from onboarding through to maturity, and the fine print you need to check before you refer or get referred.
What new customers get: £100, credited to your Raisin UK Transaction Account, once you register via a friend's referral link, open a Raisin UK account, and fund a qualifying fixed rate bond.
Referral code: No fixed code required — the offer runs through a personalised referral link that an existing Raisin UK customer generates from their account and shares with you.
Referral link: raisin.com/en-gb/refer-friend-bonus explains the scheme; the actual tracking link is generated inside an existing customer's logged-in account and sent to you directly.
Qualifying criteria: You must be a new Raisin UK customer, register using the referral link, and open and fund a fixed rate bond with a term of one year or longer and a minimum deposit of £10,000, held as your first Raisin UK savings product in a single account (it cannot be split across multiple products).
Timing: Raisin pays the £100 bonus to both the new customer and the referrer within 28 days of the new customer opening and funding their qualifying fixed rate bond.
Raisin referral offer at a glance
| Detail | What applies |
|---|---|
| New customer reward | £100 into your Raisin UK Transaction Account |
| Referrer reward | £100 per successfully referred friend |
| Referral code | No code required — personalised link only |
| Minimum qualifying deposit | £10,000 in a single fixed rate bond |
| Minimum bond term | 1 year or longer |
| Payment timing | Within 28 days of funding the qualifying bond |
| Eligibility | Must be a new customer, not already registered with Raisin UK |
| Effective date of current terms | Referrals made on or after 31 October 2025 qualify for the £100 bonus and updated criteria |
How to activate the Raisin referral bonus
- Ask an existing Raisin UK customer to log in to their account, go to the refer-a-friend section, and copy their personal referral link.
- Receive that link by text, email or social media, and use it to start your registration — this ensures the referral is correctly attributed before you sign up.
- Complete Raisin UK's registration process, including the identity verification checks required to open savings accounts through the platform.
- Fund your Raisin UK Transaction Account, powered by ClearBank, by transferring money from your nominated current account.
- Browse the fixed rate bonds available from Raisin's partner banks and open a bond with a term of at least one year, depositing a minimum of £10,000 as your first Raisin UK savings product.
- Wait for your bond to be opened and funded — this triggers the qualifying event for the bonus.
- Within 28 days, check your Raisin UK Transaction Account for the £100 credit. Contact Raisin's customer support with your registration details if it hasn't appeared within that window.
What Raisin UK actually is
Raisin UK is a savings marketplace rather than a bank in its own right. It partners with more than 40 UK banks and building societies, letting you compare and open fixed rate bonds, notice accounts and easy access savings accounts from all of them through one login, one identity check and one Transaction Account, instead of juggling separate applications and online banking logins with each provider individually.
The platform is operated by Raisin Platforms Limited, which is authorised and regulated by the Financial Conduct Authority. Raisin UK has also picked up industry recognition, including Moneyfactscompare.co.uk's "Savings Platform of the Year" award for 2026, which is a reasonable indicator that its rates and service compare well against direct-to-bank alternatives.
Products and services
- Fixed rate bonds — lock in a set interest rate for a chosen term, typically from six months up to several years, with rates that regularly feature among the market-leading options tracked by Moneyfacts.
- Notice accounts — earn a variable rate while agreeing to give a set notice period, such as 30, 60 or 90 days, before withdrawing funds.
- Easy access savings accounts — top up and withdraw funds more flexibly, generally at the cost of a lower rate than fixed products.
- Sharia-compliant savings accounts — products structured to meet Islamic finance principles, listed alongside conventional accounts on the same marketplace.
Onboarding and everyday use
Getting started involves registering with personal and identity details, then opening a Transaction Account (provided via ClearBank) that acts as the hub for moving money in and out of the marketplace. You fund the Transaction Account from your existing bank, then use those funds to open one or more savings products listed by Raisin's partner banks. Because every partner account is opened and managed through the same Raisin dashboard, switching between products or tracking multiple maturity dates is considerably simpler than managing several separate banking relationships.
The trade-off is a bit more upfront admin than opening an account directly with your existing bank: you need to complete Raisin's own registration and verification process before your money starts earning interest, and transfers into and out of savings products route through the Transaction Account rather than being instant.
Pricing, fees and how Raisin earns money
Raisin UK doesn't charge consumers to use the marketplace. Instead, it earns an intermediary fee from the partner banks whose products are opened through the platform, which is standard for comparison-and-access services of this kind. There's no cost to browse rates, register, or open and close accounts through Raisin itself — though, as with any bank, the underlying savings products carry their own terms on interest calculation, access restrictions and any penalties for early withdrawal from fixed terms.
Rewards and referral mechanics
The refer-a-friend programme is Raisin's main ongoing incentive for existing customers to bring in new ones, and it rewards both sides equally once the qualifying conditions are met. The bonus increased from £50 to £100 on 31 October 2025, alongside an increase in the qualifying minimum deposit, so if you've seen older mentions of a £50 bonus with a £5,000 minimum, that reflects the previous terms rather than the current offer. Only referrals made from 31 October 2025 onwards qualify for the current £100 bonus and £10,000 minimum fixed rate bond requirement.
Support
Raisin UK provides a dedicated help centre with FAQs covering registration, Transaction Accounts, savings applications and the refer-a-friend scheme specifically, plus a general contact page for queries that aren't answered there. Given that Raisin acts as an intermediary between you and the underlying bank holding your savings, day-to-day account queries are generally handled through Raisin's own support channels rather than the partner bank directly.
Security and eligibility
- Raisin Platforms Limited is FCA-authorised and regulated, which brings standard consumer protections around how it operates the marketplace.
- Money sitting in your Raisin UK Transaction Account, powered by ClearBank, is covered by the Financial Services Compensation Scheme up to £120,000, subject to eligibility — note this limit is shared with any other products you hold that use ClearBank's banking licence.
- Savings products opened through partner banks carry their own FSCS protection up to the standard per-institution limit, in the same way as opening the account directly with that bank.
- To be eligible for the referral bonus specifically, you must be a genuinely new Raisin UK customer — the scheme isn't intended for people who already hold an account.
Limitations worth knowing
- The £100 referral bonus requires a fairly substantial £10,000 minimum deposit into a fixed rate bond of at least a year, which is a higher bar than many other referral schemes and won't suit smaller savers.
- Because it's a marketplace rather than a single bank, you're placing trust in Raisin's onboarding and Transaction Account process as an extra layer between you and your chosen savings provider.
- Fixed rate bonds tie your money up for the agreed term; early access is typically restricted or penalised, so the qualifying deposit needs to be money you're genuinely happy to lock away.
Practical scenarios for using the Raisin referral
- Scenario — consolidating maturing savings: A saver with a fixed bond maturing elsewhere could use a friend's Raisin referral link to register, then reinvest the lump sum into a new fixed rate bond via Raisin, picking up the £100 bonus alongside a competitive new rate.
- Scenario — first-time marketplace user: Someone who has always kept savings with their everyday bank could use the referral link to try a multi-bank marketplace for the first time, using the required £10,000 deposit as an opportunity to compare rates across dozens of providers in one place.
- Scenario — existing Raisin customer referring family: A current Raisin UK customer with a Transaction Account already set up can generate their referral link and share it with a family member who has a lump sum ready to invest, with both parties receiving £100 once the new account is funded.
- Scenario — comparing before committing: A cautious saver could register via the referral link, browse the available fixed rate bonds, notice accounts and easy access products first, and only commit the qualifying £10,000 once they've identified the term and rate that suits their plans.
Comparing Raisin's savings product types
| Product type | Typical term | Access | Best suited to |
|---|---|---|---|
| Fixed rate bonds | From around 6 months up to several years | Locked for the term | Lump sums you won't need until the bond matures; the only product type that currently qualifies for the £100 referral bonus |
| Notice accounts | Ongoing, variable rate | Requires a set notice period (e.g. 30–90 days) before withdrawal | Savers who want a better rate than easy access but still need some flexibility |
| Easy access savings | Ongoing, variable rate | Withdraw and top up more freely | Emergency funds or money you might need at short notice |
| Sharia-compliant accounts | Varies by product | Varies by product | Savers who require products structured around Islamic finance principles |
Who the Raisin referral suits best
- Savers with £10,000+ ready to commit: The referral bonus is specifically tied to funding a fixed rate bond of at least £10,000, so it's best suited to those with a lump sum already earmarked for savings rather than smaller regular savers.
- Rate-conscious customers: Anyone who actively compares best-buy tables before choosing a savings account will appreciate having dozens of partner banks accessible from a single dashboard rather than needing separate logins everywhere.
- People comfortable locking money away: Because the qualifying product is a fixed rate bond of a year or more, this suits savers who are confident they won't need that specific deposit before the term ends.
- Existing Raisin customers with a network of savers: Current customers with friends or family who have significant cash savings sitting in low-interest accounts have a clear incentive to share their referral link, since both sides benefit equally.
Referral FAQs
How much is the Raisin referral bonus worth?
Both the new customer and the existing customer who referred them receive £100 each, provided the referral was made on or after 31 October 2025 and the qualifying criteria are met.
Is there a Raisin referral code?
No. There's no fixed promotional code to enter — the offer works through a personalised referral link that an existing Raisin UK customer generates from their account and shares directly with the person they're referring.
What do I need to deposit to qualify?
You need to open and fund a fixed rate bond with a term of one year or longer and a minimum deposit of £10,000, held in a single account as your first Raisin UK savings product. The deposit cannot be split across multiple products or accounts.
How long does the bonus take to arrive?
Raisin pays the £100 bonus to both parties within 28 days of the new customer opening and funding their qualifying fixed rate bond.
Can I use easy access or notice accounts to qualify?
Under the current terms, effective from 31 October 2025, only a fixed rate bond of at least one year with a minimum £10,000 deposit qualifies for the £100 referral bonus.
Can existing Raisin UK customers be referred?
No. The referral scheme is only for new customers who aren't already registered with Raisin UK; existing account holders opening further products won't trigger the new-customer bonus.
What if I referred a friend before 31 October 2025?
Referrals made before that date are subject to the previous terms and the previous £50 bonus, with a lower £5,000 minimum deposit requirement. Only referrals made from 31 October 2025 onwards qualify for the current £100 bonus.
Where does the bonus get paid?
The £100 is credited to your Raisin UK Transaction Account, so make sure this account is active before making or accepting a referral.
Verdict
The current Raisin referral bonus is a genuinely useful reward for savers who already have a substantial lump sum to place — £100 each for the referrer and the new customer is a meaningful uplift on top of a competitive fixed rate, and Raisin's marketplace model, FCA regulation and FSCS-protected products make it a credible place to hold that money. The £10,000 minimum and one-year fixed term mean it won't suit everyone, but for anyone already planning to open a sizeable fixed rate bond, using a friend's Raisin referral link before registering is a straightforward way to add extra value to a decision you were likely to make anyway.
