SaveBetter, known for partnering with smaller regional banks to offer high interest rates on savings, money market, and CD accounts; is “changing” its name to that of its parent company – Raisin.
Raisin GmbH is SaveBetter’s parent company. They’ve been operating out of Europe since 1973 and have partnered with ~400 banks across 30 countries. When they expanded into the United States, they opted to use the name SaveBetter.
In their current logo, you can see that it’s called Savebetter by raisin.
It looks like they intend to bring it all under one brand by using the Raisin name.
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SaveBetter Is Rebranding to Raisin
That’s the basic gist – the company is turning the logo from:
And changing it to:
Savebetter as a brand will effectively be gone.
What Will Change?
From the looks of it, there won’t be any significant changes to what you get as a customer. You still get higher rates through partner backs via pooled deposit accounts.
Since this is only a rebranding, the websites you visit will change and the names and images will change. Instead of SaveBetter and its logo, you’ll see Raisin and its logo.
We’ve received word that Raisin will be building an app and that will be launched sometime in the middle of this (2023) year. SaveBetter does not have an app right now, which puts it a little behind other banks, but since it’s strictly a savings account, not having an app hasn’t hindered it so far.
It would be nice to have one though, as it would make it easier to maximize your interest rate.
Other than the forthcoming app, this change is mostly cosmetic. You’ll see changes in the website URL, instead of going to SaveBetter.com, you’ll be going to Raisin.com/en-us – all pretty standard changes in a rebranding.
Why Are They Doing This?
Raisin is well known in the UK and Europe so I think they wanted to build up a single brand, rather than build up two names – SaveBetter in the United States and Raisin in Europe.
They’ve raised a tremendous amount (most recently a €60 million Series E in March) and it seems prudent that you’d want to put all your marketing and investment into a single brand, rather than splitting it up.
Personally, I like the name SaveBetter over the more generic name of Raisin but what do I know? 😂
What Should I Do?
If you are a SaveBetter customer, there isn’t anything to do. Your money is with partner banks and earning a good interest rate. If you’re happy with that, there isn’t anything you need to do.
If you aren’t a SaveBetter customer, this change doesn’t influence our opinion of them as a company, the safety of your funds, or the quality of their offering. In fact, with an app, the offering is looking to improve a little bit.
If you want to learn more, our SaveBetter/Raisin review will have more.