Most Spanish savers keep their money in their long-standing bank. It is convenient, familiar and feels safe. The problem is that this comfort comes at a price: Spain's largest banks pay between 0% and 0.30% on deposits, while platforms like Raisin provide access to European banks paying 2.5 times more. The difference, compounded over time, is significant.
What Spain's big banks pay in 2026
BBVA, Santander and CaixaBank — Spain's three biggest banks — pay literally 0% on current account balances. ING reaches 0.30% with conditions. Abanca's promoted account offers 2.00% for the first year but with salary domiciliation requirements and a cap.
What Raisin pays — April 2026
Best available deposits on Raisin.es: Younited Credit 2y at 2.67% | Mano Bank 1y at 2.60% | Nordax 2y at 2.57% | Klarna 2y at 2.56% | Banca Progetto 6m at 2.45%. All covered by their home-country deposit guarantee fund up to €100,000.
The numbers: how much are you losing?
Comparing €50,000 in a 0% current account vs a 2.60% 1-year Raisin deposit: the difference is €1,300 gross / €1,053 net per year (after 19% Spanish capital income tax). Over 3 years with simple interest: over €3,000 lost.
How Raisin works
Raisin is not a bank — it is an intermediary platform. You register online (~15 min), transfer money to your Raisin account (European IBAN), then select deposits from the available banks. At maturity the money returns to your Raisin account. No fees to savers — Raisin charges the issuing bank.
Who should use Raisin?
Good fit: over €10,000 sitting idle, money not needed for 6-24 months, emergency fund already in a liquid account, want to diversify across institutions to stay under the €100k FGD limit per bank.
Less relevant: if you need instant liquidity (Raisin fixed deposits cannot be broken early without losing interest), or if your savings are under €5,000.