Primis Now Offering CD's Through Raisin

happyharold4 | Oct 11, 2024 | 390 posts since 2022

I've always been skeptical of Raisin and Primis---Only gut feeling with no stats or negative facts to base that on. Just seems odd to see them now together.

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racecar | Oct 11, 2024 | 628 posts since 2014

Are you sure it's Primis and not Prism? I won't use Raisin myself but looked just out of curiosity and didn't see any from Primis, only Prism.

happyharold4 | Oct 13, 2024 | 390 posts since 2022

I only glanced at it---So you are probably correct---Sorry my bad

anonlol | Oct 13, 2024 | 178 posts since 2016

Be aware that nonbank companies themselves are never FDIC-insured. Even if they claim to work with FDIC-insured banks, funds you send to a nonbank company are not eligible for FDIC insurance until the company deposits them in an FDIC-insured bank and after other conditions are met.

FDIC deposit insurance does not protect against the insolvency or bankruptcy of a nonbank company.

https://www.fdic.gov/news/financial-institution-letters/2024/agencies-issue-statement-bank-arrangements-third-parties
https://www.fdic.gov/news/press-releases/2024/fdic-proposes-deposit-insurance-recordkeeping-rule-banks-third-party

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