Raisin has changed their process for withdrawing money from an investment on their platform to your linked bank account. It now requires you to do two steps and wait in between, involving more work from you, more attentiveness, and more time before you have the funds available. You used to be able to transfer directly from an investment on Raisin to your bank-- with a wait of a couple of business days. Now you have to first transfer into a Raisin holding account (which offers no interest), wait some business days for that money to arrive in the holding account, then keep checking to see if it has and NOT forget to check. Then when that has arrived, go back and initiate a transfer from the Raisin holding account into your linked bank, wait a couple of more business days, finally receive your money. Raisin is no longer a place to invest money temporarily and move it rather quickly into your own bank for spending. They are making more money "holding" your money interest free. The whole thing is less convenient. And you are exposed to possible overdrafts if you need that money in your bank checking account to cover incoming bills. If any of this long process takes place over s weekend, you're screwed because those are not "business days". I talked to Raisin about this and they say they've made everything so much more convenient. But only for people moving money around from one investment to another ON THEIR PLATFORM. If you need money in your linked bank account fairly quickly (2 to 3 days) forget it! Eat the overdraft fees :(
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