# Raisin (SaveBetter) Review: What You Need to Know
Raisin, formerly known as SaveBetter, operates as a financial marketplace connecting savers with multiple deposit accounts across different banks. The platform aggregates high-yield savings accounts, money market accounts, and certificates of deposit (CDs) from partner institutions, allowing users to compare rates and open accounts without visiting individual bank websites.
Here's how it works. You create one profile on Raisin, then browse savings products from numerous banks offering rates typically higher than traditional brick-and-mortar institutions. The platform handles the application process, making it simpler to open multiple accounts at once. Deposits remain FDIC-insured up to $250,000 per bank through member institutions.
Raisin generates revenue through partnerships with banks rather than charging users directly. This means no account fees, no subscription costs, and no commissions deducted from your interest earnings. Your money earns the full advertised rate.
The platform appeals to savers hunting for yield in a competitive rate environment. Rather than manually researching dozens of banks, you access curated options in one place. Current offerings typically include high-yield savings accounts yielding 4.00% to 4.50% APY and CDs ranging from three-month to five-year terms, depending on market conditions.
A few considerations matter before signing up. Raisin limits the number of accounts you can open simultaneously, so you cannot max out FDIC protection across all available banks at once. Transfers between Raisin accounts and your external bank account take two to three business days via ACH. The platform does not offer checking accounts, debit cards, or bill pay services, making it strictly a savings tool.
Legitimacy checks out. Raisin operates as a registered financial services company and complies with banking regulations