The announcement came following the company’s acquisition of MHB Bank (now Raisin Bank) in 2019. Until now, Raisin’s customers across Europe opened a service account with Belgium-based Keytrade Bank when signing up with Raisin, and then transferring funds into the Raisin marketplace.
At the time of writing this article, all of Raisin’s European customers have been transferred to Germany-based Raisin Bank. The move means that Raisin’s European customers are offered a uniform service across the continent, stepping closer to developing a European single financial market.
Raisin’s UK customers won’t benefit from the consolidation, rather the fintech continues to partner with Starling Bank to provide customers’ holding accounts.
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