Savings hack that pays you £150 FREE extra cash — here’s how to claim it using special code

MoneyTips *This article contains affiliate links that will earn us revenue Credit: Getty SAVINGS platform Raisin UK is handing out a £150 cashback bonus to new customers who open a fixed rate bond of two years or longer – but not for long. To qualify for the £150 cash boost, you’ll need to deposit at least £15,000 into a fixed rate bond with a term of two years or more. Raisin is one of several savings platforms you can use to manage your savings Credit: Getty SIGN UP AND GET £150 CASHBACK WITH CODE SUMMER250 The offer is available exclusively to new customers who sign up for a Raisin account by August 27 and use the promo code SUMMER250 during registration. Sign up for the Money newsletter Thank you! Keep in mind that with a fixed rate bond, your money is locked away for the full term, so you should be sure you won’t need access to your cash before applying. How does Raisin work? Savings platforms, like Raisin, allow you to open, manage, and switch between multiple providers using a single login and application. Normally, switching your savings to a bank with a higher interest rate requires going through a lengthy administration process, including identity checks and filing out separate application forms each time. A savings platform streamlines this by giving you direct, one-click access to rates offered by all its partnered financial institutions. While you won’t have access to every bank on the market (only those partnered with the platform), it saves significant time when looking to move cash around for better returns. When your money is with a bank or building society via Raisin, it still enjoys Financial Services Compensation Scheme (FSCS) protection, meaning your cash is covered if the provider goes bust. Most read in Money Are Raisin’s rates competitive? Raisin regularly offers top-tier market rates across fixed rate terms, alongside access to specialist banks that often pay higher returns than high-street names. Because interest rates across the market change quite frequently, locking in a fixed rate bond guarantees your return for the entire duration of your term (shielding your money if central interest rates fall).