Internet platform of Raisin
Raisin GmbH (hereinafter: “Raisin“) offers interested private individuals the possibility to register at and participate in the internet platform (hereinafter: “Platform“) for deposit products at www.raisin.com (hereinafter: “Product Raisin“). The Platform offers private individuals access to deposit products (for example term deposits or overnight deposits) of companies from the European Economic Area (EEA) which hold an appropriate license (hereinafter: “Partner Bank” or “Partner Banks“). Raisin describes on the Platform offers of Partner Banks for deposit products and provides technical services in connection with the conclusion of a deposit product between the customer and the Partner Bank. Raisin is neither a credit institute nor a financial services company according to the German Banking Act (Kreditwesengesetz, KWG), nor a payment service provider according to the German Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz, ZAG).
Cooperation with Keytrade Bank
Raisin cooperates with Keytrade Bank, the Belgian branch of Arkéa Direct Bank SA (France), a credit institution fully licensed under French law (“Keytrade Bank“), which hosts the current account of the customer (hereinafter: “Raisin Account“). The Raisin Account serves as settlement account for payment orders between a reference account (typically the salary account of the customer) and accounts of the Partner Banks. Raisin and Keytrade Bank support the customer during the contract conclusion procedure and the communication with the respective Partner Banks.
After registration and opening of the Raisin Account (including identification) have been performed, the customer receives access to the Platform and the online banking system. Keytrade Bank will transfer the confirmed deposit amount to the deposit account of the customer at the Partner Bank or, depending on the Partner Bank, to another account held with the Partner Bank. In the online banking system the customer can – subject to the specific conditions of each deposit product – order a roll-over, an early termination as well as other transactions in connection with the offer and receive messages from the Partner Bank (for example account statements).
In the electronic postbox (hereinafter: “Postbox“) of the online banking system each customer will find his/her individual documents and messages from Raisin, Keytrade Bank, and Partner Banks (for example contracts or account statements). Furthermore, the customer can receive assistance from an English speaking customer service.
In order to make full use of the Product Raisin the customer will close the following contracts:
- Platform Agreement with Raisin
- Current Account Contract with Keytrade Bank regarding the opening and provision of the free-of-charge Raisin Account
- Deposit Contract with a Partner Bank.