Saving money is an important part of building a bright financial future. The act of setting aside money is important, but the right savings account can make all the difference.Raisin (also known as SaveBetter) has become one of the leaders in their products . high yield savings account and a CD option.
according to FDIC, the national average for interest rates associated with savings accounts is 0.39%. When you put money into a savings account with an average interest rate, it takes time to accrue interest.
However, you can also pour your savings into a high-yield savings account. Find out how APY finds top accounts here better save can help.


- SaveBetter partners with traditional banks and credit unions to offer high interest savings accounts and certificates of deposit.
- Some of the highest interest rates available
- Restrictions on how funds can be deposited and withdrawn
What is SaveBetter?
SaveBetter is an online platform that connects depositors to the best interest rate opportunities on savings products. SaveBetter is not a bank per se, but does partner with banks and credit unions to offer products displayed through its platform.
SaveBetter negotiates interest rate increases on savings products directly through partner financial institutions. With that in mind, the rates you see on SaveBetter are usually higher than if you went directly to his website for partner banks. SaveBetter typically works with local banks and other medium-sized financial institutions.
The overall concept of SaveBetter is similar to the intermediary CDs that have been offered for decades through investment firms such as Fidelity and Schwab.
SaveBetter’s parent company, Raisin, was founded in 1973. Raisin has used a similar business model in Europe for decades. However, you can take advantage of higher interest rates on this side of the pond through SaveBetter.


what does it offer?
SaveBetter is a profitable opportunity for savers. The company negotiates higher interest rates with partner banks. That means you can often find above-average interest rates.
Banks tend to spend a lot of money on advertising, so SaveBetter can make those deals work. Instead of paying traditional advertising costs, partner banks receive offers in front of a built-in audience through SaveBetter. It’s a win-win for everyone.
Once you’ve signed up for an account, you can view your funds from your SaveBetter online dashboard. However, the funds themselves are held in a custody account at a financial institution. This means the funds will be pooled with other SaveBetter customers. This is very similar to the storage model for intermediary CDs.
Let’s take a closer look at what the platform has to offer.
high yield savings account
High-yield savings accounts offer very attractive interest rates. If you want to maximize your savings, SaveBetter can help you find the best offers from our partners.
As of April 20, 2023, when searching SaveBetter for the top high yield savings accounts, we found multiple accounts with an APY of 4.85% or higher. when compared with national average At 0.39%, it is clear that you will earn more money in your savings through one of the accounts offered.


money market account
A money market account may be a good place to store your savings. If you want to get ahead with your money market account, SaveBetter can help you find relatively high rates.
As of April 20, 2023, SaveBetter was promoting several money market accounts with APY of 4.75% or higher. In contrast to National Average 0.57% APYsavers can earn more through SaveBetter’s advertised rates than most other money market platforms.
CD account
A Certificate of Deposit (CD) works by locking funds for a period of time. In exchange, the interest rate is fixed for the duration of the CD. Most regular CDs have early withdrawal penalties if you need to withdraw the funds before the maturity date. However, you can withdraw your funds at any time with no penalty CDs.
Through SaveBetter, you can find traditional, penalty-free CDs at relatively high interest rates. For example, as of April 20, 2023, you can find a 6-month CD with an APY of 5.15%. This is significantly higher than APY’s 1.03%. National average rate For 6 months CD.
In particular, SaveBetter’s platform does not have a checking account.
What are the drawbacks?
SaveBetter’s biggest drawback is that it uses an “intermediary” model, which limits the ways you can deposit and withdraw funds.
Unlike traditional savings accounts where you get a bank account number and a routing number, with SaveBetter you have to do it all through the platform. Your funds are safe and FDIC or NCUA guaranteed with our partner banks, but you cannot make direct deposits, wire transfers, etc. as they are in a custodian account.
You will need to login to the SaveBetter portal and set up all transfers to your linked bank account. that’s it. Depending on how you want to use your savings account, this can be a big deal.
Are there any fees?
SaveBetter is aggregating opportunities from several different partner banks. In general, the platform promises no fees. Additionally, the minimum deposit is set as low as $1 per month.
However, you should always double check the product terms before signing up to reveal a specific fee. I’m here.


How can I contact SaveBetter?
If you need to contact SaveBetter, please email service@savebetter.com or call 844-994-3276. Customer support is available Monday through Friday from 9:00 am to 4:00 pm EST.
The company has received mixed reviews trust pilotNegative feedback seems to focus on customer service issues, while good feedback tends to appreciate access to high APY.
How does SaveBetter compare?
better save It’s not the only opportunity for savers looking for top-notch products. If you don’t want to work on the SaveBetter platform, consider Current, CITBank, or Upgrade. Both offer relatively high APY.
We currently offer savings of up to $6,000, commission-free overdrafts, and 4.00% with no monthly, minimum, or hidden fees. We give you one place to manage your money, including debit, cards, paychecks, savings, and cryptocurrency.
CITBank has CIT Platinum savings with a minimum deposit of $100 and maximum APY. 4.75%Please note that you must maintain a minimum balance of $5,000 to secure that rate.
There is no minimum deposit for upgrades, you can earn up to 4.56% About their savings. Also, there are no monthly fees to worry about. If you’re worried that SaveBetter isn’t giving you checks, Upgrade has Rewards Checking. This is a solid online checking account with no monthly maintenance fees, ATM fees or transfer fees.
Check out the best high yield savings accounts here.
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How do I open an account?
The process begins by reviewing available savings products. Once you find a savings product that meets your needs,[今すぐ保存]Click the button. From there, you will be prompted to create an account.
Be prepared to provide your email, password, name, social security number and fund account information. Please note that she must be 18 to start.
Is it safe and secure?
Most importantly, SaveBetter partners with FDIC and NCUA insured financial institutions. As a saver, you can rest easy knowing your funds are protected up to $250,000.
Additionally, the SaveBetter platform is SOC 2 certified. This means that the platform has extensive security measures in place to protect your information.
Is it worth it?
If you are looking for high APY on savings products, SaveBetter presents a worthwhile opportunity. SaveBetter not only makes it easier to find relatively high APY, but the platform also makes it easier to seize opportunities.
However, you may not want to work on this platform. If you’re not familiar with working with SaveBetter, consider checking out our other high yield savings account options now.
SaveBetter Features
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Web/desktop account access |
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