The reference account, the bank account you specified during registration, is your normal current account (such as your salary account) held at a bank in your home country. This reference account is the only account that you can use in combination with your Raisin Account (both for incoming and outgoing payments). Transfers made from other accounts than the reference account will be rejected and automatically after 30 days send back to the originating account.
The Raisin Account is a current account accruing no interest at Raisin Bank, serving as your central online transaction account. When you select a deposit we will debit your Raisin Account and credit the respective amount to your Deposit Account.
Deposit Accounts are accounts which accrue interest held with one of our partner banks. For each deposit product you choose, a new Deposit Account is opened with the respective partner bank. After creating the Deposit Account, the amount you wish to deposit will automatically be transferred from your Raisin Account. At maturity, you then have three options: you may either prolong the deposit, select an alternative deposit product, or the money will be automatically transferred back to your Raisin Account. Please note, that if you take no action, upon maturity, the amount deposited including interest (less withholding taxes if applicable) will be returned to your Raisin Account. There is no automatic rollover.