I’ve been a Raisin customer for several years and still hold several CD's with them, but my recent experience has completely destroyed my trust. Due to a technical glitch on Raisin’s side, one of my CD applications was duplicated without my doing. I immediately contacted customer service to report it and asked them to cancel one of the duplicates — while the funds were still transferring from my bank.To my shock, Raisin told me I would be liable for nearly $1,000 in cancellation fees, even though the issue was clearly caused by their system. They refused to take responsibility and told me to contact my bank to stop the transfer myself, which I managed to do.Worse still, I sent three detailed emails (including screenshots of Raisin’s own “technical difficulties” alert and proof of my bank’s overdraft fees) — and received no reply at all. Not even an acknowledgment.The penalties I would have been liable for also made me realize another shady tactic: when one opens a CD, Raisin automatically sets it to renew at the end of the term. Unless you go into each individual CD and manually change the maturity instructions, it will renew automatically. This means that if you don’t want to keep it and forget to change the setting, you’ll have to pay cancellation fees to access your own money. That’s a deceptive practice, designed to trap inattentive customers into paying penalties.This is unacceptable and unprofessional. For a company that handles people’s savings, Raisin’s lack of accountability and hidden renewal tricks are alarming. If you value your money and peace of mind, look elsewhere.(Ticket #753329)UPDATE: today, a full week later, Raisin finally replied. But help is no longer needed as I managed to cancel transfer of funds from the Bank of America end. Yet experience (particularly the lack of reply) remains a dissapointment.
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