We ask for your Nominated Account details during sign-up to make sure your account is secure and ready to use from day one. Here is why we don’t wait until later:
Essential security checks: As a regulated financial service, we are legally required to verify your identity and prevent financial crime before you can use our platform. Confirming that your registration name matches your bank account name is a vital part of this initial check.
Protecting your money: Linking your bank account immediately creates a secure connection between our platform and your personal bank account. This ensures that even in the unlikely event someone gains unauthorised access to your profile, they cannot withdraw your funds to an outside account.
Quicker transfers: Setting this up now allows us to verify your account ownership in the background. When you are ready to credit your Raisin Account or make a withdrawal, the setup is already complete, so your transfers can process smoothly without unexpected delays.