Latest news with #Raisin
Irish Independent
13 hours ago
- Business
- Irish Independent
One in four couples spending up to €50,000 to pay for wedding, with almost a half willing to go into debt for celebration
And the average budget for an Irish wedding is now between €10,000 and €20,000, according to research carried out by online savings platform Raisin Bank. For those who tied the knot in the past five years, the average wedding spend was around €10,000. Costs are rising for those who have yet to tie the knot. And budgets for the big day vary hugely, according to the Raisin Bank Wedding Report 2025. The research found that 45pc of those surveyed said they were willing to go into debt to fund the marriage ceremony and celebrations on the day. Weddings are big business, with many couples opting for big events in stately homes with others decamping with friends to sun-soaked beaches abroad to mark the occasion. The survey found that nearly half of respondents feel social stress at weddings. Just 8pc of couples kept the cost of their celebrations under €1,000. A quarter spent between €20,000 and €49,999. The largest group, 30pc, landed in the €10,000 to €19,999 range. On a per-guest basis, that translates to an average spend of €100 to €200. Another 28pc of respondents kept things modest, spending no more than €5,000. ADVERTISEMENT Learn more It is not clear how much spending has changed in recent years as this is the first time Raisin commissioned a report on wedding costs. Eight-hundred adults who are married or are planning to get married were surveyed by market research firm Pollfish for the report. Raisin said weddings can be expensive and are right up there with buying a home or putting a child through college as one of life's major financial milestones. Researchers for the bank found that more than 90pc of married Irish people say they put money aside for their big day. Among those under 30, that figure climbs to 98pc. Of those who saved, 57pc saved for a year or more, while the remaining 43pc managed to pull it together in under 12 months. One in four took more than two years to save for their celebration and 46pc of married people in Ireland ended up taking on debt to cover the costs. Debt isn't always a bad thing – as long as it's manageable Among couples under 30, that figure shoots up to 67pc. For those aged 50 to 64, this drops to about one in five. Just over half of respondents took out a personal loan. Nearly one-third of respondents borrowed from family or friends. One in five opted for their overdraft facility. People getting hitched prefer cash over other types of gifts, with 85pc of respondents agreeing that cash in an envelope is the way to go. The largest chunk of respondents prefer a sum of between €100 and €200. Almost one in five respondents – and one in four of the under-30s – put in €300 or more. Raisin Ireland country head Eoghan O'Hara warned those getting married to be careful about taking on debt. 'Debt isn't always a bad thing – as long as it's manageable,' he said. 'The key is to set a realistic budget, understand what your monthly repayments might look like, and make sure the cost of the big day doesn't hang over your married life like a cloud.'
Finextra
5 days ago
- Business
- Finextra
Raisin debuts retail deposit product
Raisin, Europe's leading fintech platform for savings and investment products, has launched a new Welcome Account in Spain, marking a strategic milestone in its ongoing expansion across European markets. 0 For the first time, Raisin is offering a savings product directly under its own name to consumers in the region. The Welcome Account is designed to give new customers a strong and simple entry point into savings. As an overnight deposit product with a promotional rate for the first three months, it offers savers in Spain one of the highest interest rates currently available on the platform. The account is fully flexible, fee-free, and easy to open online, aligning with Raisin's mission to offer transparent, customer-first financial products without barriers. New customers can deposit between €1 and €60,000 and enjoy a market-competitive rate for three months. Following the promotional period, funds are automatically transferred into a rollover product selected in advance by the user via Raisin's Smart Switch feature, or they can be withdrawn without penalty. Customers receive the interest rate available at the moment of transfer, with this detail clearly disclosed during account setup. As a result, users continue to benefit from competitive ongoing returns with minimal friction. The launch represents a broader strategic step for Raisin, as it continues to expand its ability to shape and offer products directly through its platform, further strengthening its leadership in digital savings innovation. The Welcome Account has been designed to counter the complexity and opacity that often accompany traditional teaser products, which frequently include restrictive conditions or unclear rate changes. Raisin's offer focuses on transparency, customer control, and long-term value. 'With the new Welcome Account, we are appealing to everyday savers who are looking for a strong interest rate that is not tied to the obligation to open other products,' says Dr. Tamaz Georgadze, CEO of Raisin. 'It's a product that reflects everything we stand for: fair access to better financial solutions with zero hidden fees. Our goal is to empower people across Europe to take control of their financial future with confidence.' Raisin continues to scale across key European markets, including Germany, Spain, the Netherlands, France, and Ireland, while supporting more than one million customers and managing over €75 billion in assets.
Fox News
31-05-2025
- Business
- Fox News
Evening Edition: Women Leading The Way In Overcoming Financial Anxiety
Young women in America are leading the way in taking steps overcome financial anxiety during times of economic downturn. They are changing their consumer behavior by cutting back on spending and embracing a DIY lifestyle. It is a trend of strategic smart saving coupled with smart spending that is helping to build a more stable financial future. FOX's Tonya J. Powers speaks with Emily Zekonis, finance expert for online savings platform Raisin, who says by using some financial foresight you could see a long-term change for the better. Click Here To Follow 'The FOX News Rundown: Evening Edition' Learn more about your ad choices. Visit
Metro
29-05-2025
- Business
- Metro
Map shows average savings in different UK regions — how does yours compare?
Ultimately, the amount you save all depends on your financial situation and goals. While some may be able to put the same chunk of money away each month, others are limited to a more ad hoc basis. But whatever stage you're at, don't worry: saving in any capacity you can is still saving. And that's the main thing. With that in mind, you'd expect the average savings rate would vary a lot, even for people who live in the same city. But interestingly, that's not quite the case, as new research has proven. Financial services company Raisin has revealed that certain parts of the UK (for want of a better word) are better at saving than others. Spoiler: the region that came out on top might shock you, especially as its cost of living is notoriously high. You probably didn't expect London to be number one when it comes to savings. Metro recently reported that the average rent in the capital is around £2,235 per month, while last year, it was revealed that it's more expensive to live in London than in Monte Carlo. And let's not even get into the price of a pint these days. However, the research showed that Londoners have an average savings amount of £28,978.40. The proportion of people with minimal savings are low, too. Only 1.48% have £0 savings, 6.67% have £100 or less, and 17.04% have £1,000 or less. In second place is the West Midlands, with an average savings amount per person of £13,318.35 – still a solid number, but less than half the figure for London. Trailing just behind is the North East, with its resident banking £10,022.58, on average. This region just pipped the South East – whose residents have £9,885.55 in savings – to the post. Up next is Wales, with £9,648.91, and the North West makes up the top six, with £9,156.79 average savings. The remaining five regions all scored between 23% and 35% in the £1,000 or less in savings category. On the other end of the scale, it was revealed that the East Midlands have the lowest savings of any region in the UK. People living here have an average of £6,438.48. 8.75% of residents here have £0 in their rainy day fund, while 12.50% have £100 or less and 35% with £1,000 or less. With just a little more in the bank is Northern Ireland, coming to an average savings amount of £6,710 – four times less than Londoners. The figure for those in the South West jumps by around £400 to £7,140.18. In Scotland, the average rises to £7,297.19, while in East Anglia, people are managing to save quite a bit more, averaging at £8,032.85. And at number six – meaning these residents sit directly in the middle of the savings scale – is Yorkshire and the Humber, with the average amount in the largest county in the UK coming to £8,406.60. Metro spoke to Ayesha Ofori, former executive director and private wealth adviser, and founder of investing app Propelle. More Trending She explains that's not about whether a region is collectively 'better' at saving, it's about how much a person saves or invests depends on how much disposable income they have. 'In London, salaries are higher,' Ayesha notes. 'And although living expenses are much higher, people are more likely to have something left over to invest.' On the contrary, in areas with fewer corporate jobs and lower salaries, disposable income is lower. Ayesha also highlights that how much a person saves is tied to how much exposure they get to saving and investing, commenting: 'It's to do with their knowledge level and trust in the systems available to save cash. If saving a little bit more of your paycheck is your goal, but you're unsure of the best way to start, then the 50/30/20 rule is for you. It's a tried, tested and proven technique that allows you to start regularly saving each month. It also helps keep spending on non-essentials within an allocated budget each month. Essentially, the rule involves dividing your spending into three categories: needs, wants and savings. Then, with each paycheck, allocate 50% to needs, 30% for wants and 20% for savings or debt repayments. Read more about the rule and how to successfully implement it here. View More » MORE: We tried London's hottest new pizza spot that doesn't 'scrimp on the toppings' MORE: Here's where two new reservoirs could be built in the UK MORE: Tube 'fare dodger' caught swerving £3,500 in fares using a dodgy card
The Journal
18-05-2025
- Business
- The Journal
Irish bank customers losing out on windfall by keeping money in demand deposit accounts
CUSTOMERS WHO KEEP their savings in demand deposit accounts with Irish banks could be missing out on a significant windfall in interest payments. According to figures from the Central Statistics Office, Irish customers are currently keeping a cumulative total of €140 billion in demand deposit accounts with interest rates well below those available through Raisin, a free-to-use online savings platform . Interest rates offered by Irish demand deposit accounts aren't keeping pace with inflation. An analysis by savings platform Raisin found that accounts of this nature have yielded a relatively paltry 0.13% AER (annual equivalent rate) in interest on average this year. Irish bank customers lost a total of nearly €2.7 billion in purchasing power last year due to the same measly returns on their savings, and it's likely that you are currently leaving money on the table if you're keeping your savings in an Irish demand deposit account. Raisin is a platform that allows users to access the interest rates offered by over 25 trusted banks across Europe with just one log-in, meaning that you can make significantly more back on the lump sum that you've put away for a rainy day compared to Irish demand deposit accounts. Through Raisin, Irish customers can instead hold their savings in term deposit accounts offered by European banks, including those rated AAA by Standard & Poor's, including banks based in Germany, Luxembourg and Sweden. Term deposit accounts have delivered much higher returns so far this year, at roughly 2.43% AER on average. On the Raisin homepage, you can see exactly the kind of interest your savings could yield if you were to hold them in a European bank for a fixed term, such as five years. Advertisement Interest rates available to Raisin users Raisin Bank Raisin Bank For example, if you were to deposit €30,000 with German bank Aareal through Raisin Bank in a fixed-term five-year deposit account, at the end of the term you would have accumulated €4,125 in interest based on current interest rates. If you are looking at building up interest in a more short-term fashion, there are also banks which offer interest rates of roughly 2.5% on six-month term deposit accounts. Money held in these bank accounts is protected by the EU-wide Deposit Guarantee Scheme, which ensures that funds up to €100,000 per bank, per saver, are safeguarded. Raisin also offers access to demand deposit accounts, if you would prefer to shop around for a savings account that doesn't hold your money for a fixed term. You can explore the wide array of banks, deposit accounts and interest rates that are currently available to Raisin users here . Signing up for Raisin Bank is simple, requiring only one log-in and no fees whatsoever. Explore the options available to you and make the switch from a low-yield demand deposit account to a higher rate term deposit from over 20 trusted European banks. Eoghan O'Hara, Irish financial expert at Raisin Bank, warned that 'even with better offers out there, many are still accepting measly rates on their hard-earned savings. If you don't need access to your money for a while, consider locking it into a term deposit to get real value.' If you feel like your savings aren't doing as much for you as they should, visit Raisin and find out how you can get more out of your money. All interest rates are valid as of 18 May, 2025. Raisin Bank holds a full banking license under the German Banking Act (Kreditwesengesetz) under registration number 100112 and is supervised by the German Federal Supervisory Authority.
