Flagstone vs. Raisin
Savings platforms are for savers seeking convenience, high-interest accounts, and low-risk returns.
But how do two of the main savings platforms, Flagstone and Raisin, compare?
Which savings accounts do Flagstone and Raisin offer?
Both platforms provide Instant Access, Fixed Rate, and Notice savings accounts.
But they differ in minimal deposits, business account availability, and the banks on offer.
Who uses Flagstone vs. Raisin?
Flagstone
Flagstone suits individuals and businesses who want a convenient way to safeguard cash reserves, including lump sums such as a business sale.
The platform offers:
competitive rates for improved yields
reduced risk spread across multiple banking groups
the ability to manage cash across GBP, USD, and EUR balances
Personal clients need a minimum deposit of £10,000. Business clients need £100,000.
Raisin
Raisin suits budget-conscious savers building a modest savings buffer.
The platform offers:
a range of account types for straightforward saving needs
low minimum deposits depending on accounts
a choice of UK and EU-based banks
There's no minimum deposit to open a Raisin account. Instead, minimum deposits may apply to the savings accounts you open.
Account type | Flagstone | Raisin |
|---|---|---|
Instant Access | ||
Notice | ||
Fixed Term | ||
Cash ISA | ||
Business savings | ||
Joint savings |
Bank partners: How they compare
Flagstone gives you access to hundreds of high-interest savings accounts from 65+ banks.
Raisin partners with 40+ banks, at the time of writing.
A suite of savings services with Flagstone
Flagstone is designed for convenience, especially if you’re managing large deposits across multiple account types.
Business savings accounts
Spread your business’s cash
Fixed Rate, Instant Access, and Notice accounts from 50+ banks
£100,000 minimum deposit
Cash ISA
No withdrawal limits, penalties, or hidden fees
Switch to better rates in a few clicks
Consolidate scattered ISAs for free
Joint accounts
Save with another person
Access 250+ savings accounts, from 65+ banks
Enjoy double the FSCS protection
Keeping your money safe
Here's how Flagstone and Raisin protect your savings:
Flagstone
All savings accounts eligible for FSCS protection
Joint accounts benefit from FSCS protection of up to £240,000
HSBC holding account is FSCS-eligible
Raisin
UK accounts eligible for FSCS protection
European accounts protected by Deposit Guarantee Scheme (DGS)
ClearBank Transaction account is FSCS-eligible
Which savings platform is right for you?
Feature | Flagstone | Raisin |
|---|---|---|
Bank partners | 65+ | 40+ |
Minimum platform deposit | £10,000 for personal clients, £100,000 for business clients | None |
Personal account types | Cash ISA, Instant Access, Notice, Fixed Rate savings | Instant Access, Notice, Fixed Rate Bond |
FSCS protection on eligible deposits | Yes | Yes |
Business accounts | Yes | No |
Trustpilot rating* | 4.7 ‘Excellent’, based on 5,500+ reviews | 4.3 ‘Excellent’, based on 4,000+ reviews |
Is my money safe with a savings platform like Flagstone or Raisin?
All eligible deposits you make into savings accounts in the Flagstone platform are protected by the Financial Services Compensation Scheme (FSCS).
Raisin’s savings accounts are protected by either the FSCS or the Deposit Guarantee Scheme (DGS) for European banks.
These schemes protect your money in the event of a financial provider going out of business – up to £120,000 per client, per banking group with the FSCS, and €100,000 with the DGS.
What is the minimum deposit for Flagstone and Raisin?
Flagstone requires a £10,000 minimum deposit to open a personal account, and £100,000 for businesses.
Raisin doesn’t require a minimum deposit to open an account with the platform.
Who reports my savings interest to HMRC?
If you earn over £10,000 in interest in a single tax year, you’ll need to register for Self Assessment to declare your earnings. Below this amount, your bank will tell HMRC about your interest earnings and HMRC may adjust your tax return accordingly.
Can I open a Cash ISA through a savings platform?
Flagstone offers a Cash ISA that lets you split your £20,000 annual tax-free allowance across accounts with several banks in one platform, with a single application. This also makes it easier to spread your Cash ISA deposits across different banks for full FSCS protection.
Evolve your saving style
Discover other ways to save with Flagstone.
*All figures are correct at the time of writing and may change.
We’re at your service.
If you’ve still got questions, call us on +44 (0)203 745 8130, Monday-Friday 9am-5.30pm.