Spanish banks launch hook deposits to attract investors from the rest of Europe

Update Post: November 28, 2023 10:19 pm

Miraltabank has become the first Spanish bank that has decided to market its deposits on the Raisin financial platform. Savers from all over Europe will be able to contract their deposits, protected up to 100,000 euros per client by the Spanish Deposit Guarantee Fund, through the platform with very attractive returns.

Miraltabank has launched 6,12 and 24 month deposits that will only be available in Raisin. The highest profitability is offered in its 12-month deposit with 3.25%, followed by a 24-month fixed-term deposit that presents a profitability of 3.2%. The minimum investment required by the entity is 15,000 euros and the maximum is 100,000 euros, like most banks that market on Raisin. The opening is carried out 100% online, without the need for additional documents.

The collaboration will benefit both parties, the banking entity will be able to continue offering savings and investment measures to its clients and perfect its offer in a new medium; and the German platform will have new bank deposits that will be included in the catalog for its clients. In addition to being the first in Spanish available on the platform. The number of Spanish assets managed by Raisin has increased by 140% so far this year.

“The European savings platform Raisin has the possibility of offering its clients savings without barriers. Furthermore, through this digital platform they can access deposits quickly, safely and with all the guarantees,” says the general director of Miraltanbank, José C. Rodríguez Pérez.

Miraltabank moves deposits

Miraltabank is an investment and asset management bank, founded in 2010, that offers a wide range of financial services such as intermediation, management and advice to individuals and companies. It also makes a multi-product broker available to its clients to make direct investments. In addition to offering other fixed income products and own and third-party investment funds.

The entity was created as an intermediary for fixed income and credit products at European level for institutional and corporate investors. In 2013, it began management dedicated to professional and institutional clients as a securities company. Subsequently, it offers its products to individuals and adds its own and third-party investment funds. In 2022 it obtains approval from the ECB and the BDE to become a credit institution.

The Raisin platform

Raisin, founded in 2012, is a German company that makes products from European banking entities available to savers. It has its headquarters in Berlin and has offices in Madrid, Manchester and New York, as well as in Frankfurt, Hamburg and Munich.

The fintech has more than a million clients between Europe, the EU and the United Kingdom, and the United States and collaborates with more than 400 banks and financial service providers in more than 30 countries.

What deposits to invest in?

At the moment, according to Raisin data, the best twelve-month deposits to invest in Spain are those of Banca Sistema with a remuneration of 4.4%. Contracting imports are 20,000 euros as a minimum import and 100,000 as a maximum import. The opening is carried out 100% online, without the need for additional documents. Regarding tax withholding, in Italy it is not carried out for non-residents in the country.

The second entity in which they recommend investing is the Italian bank Banca Progetto. It offers a remuneration of 4.3% and its minimum contract amount is 10,000 euros, the maximum amount is also 100,000 euros. The characteristics of the Banca Progretto deposit in relation to contracting and tax withholding are the same as those of Banca Sistema, 100% online and absence of tax withholding for non-residents.

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November 20, 2023 4:13 am