Raisin

Raisin is not a bank but a savings marketplace: one login that lets you open and manage high yield savings accounts, money market accounts, and CDs from more than 100 FDIC insured banks and NCUA insured credit unions. The platform is free to use, minimums start at $1, and Raisin earns its revenue from the partner institutions rather than from depositors. It is the US arm of a Berlin based fintech that entered the American market in 2020. The draw is rate access. As of August 11, 2026, the top savings rates on the platform are 4.15% APY from NexBank and Patriot Bank N.A., with several other partners at or near 4.00%. These are often small or regional institutions you would not otherwise find, and Raisin surfaces whichever partner is paying most, so you can chase the best rate without opening a new bank account each time. Insurance works through the partners, not Raisin. Your money sits at the institution you choose, insured up to $250,000 per depositor per institution; spread cash across multiple partners and coverage stacks, with Raisin advertising more than $10 million of potential combined coverage across dozens of institutions. The custodial plumbing has also improved: withdrawals route through a Raisin Cash Account, which makes withdrawn funds available on the platform immediately instead of after a multi-day hold. The trade-offs are structural. Raisin is savings only: no checking, no debit or ATM card, no cash deposits, so it cannot be your primary bank. All customer service goes through Raisin rather than the underlying bank, statements come from the custodial structure, and the accounts offered on the platform sometimes differ in rate or terms from what a bank sells directly. Rates also move frequently as partners join and reprice. Use it if you hold meaningful cash and want top-of-market APYs, or more than $250,000 of insured coverage, without juggling logins at multiple banks. Skip it if you want a full banking relationship, direct support from the institution holding your money, or ATM access to savings, and always check the platform rate against the bank's direct rate before assuming Raisin wins.