Personal FAQs

Opening a Paragon Bank savings account is easy, all you need to do is go to the savings page on our website, choose the account you want and click "apply now".

You will need the sort code and account number of your personal UK bank or building society current account when applying.

If you’re applying for an ISA you’ll also need your National Insurance Number and details of any ISAs you want to transfer.

Our savings accounts are available to people aged 18 or over who are 'ordinarily resident' (that is, who normally live) in the UK (not including the Channel Islands and the Isle of Man) for tax purposes.

You must have a personal UK bank or building society current account that is able to accept electronic payments. Our accounts are not available for trusts, charities or business purposes.

If you have chosen your account and are ready to apply, you will need your contact details, your email address and the details of the UK current account you would like to use as your nominated account. Remember this is the account your funds will need to come from and go to.

Once you’ve completed the application form and sent it through to us we will start processing your application as soon as possible. Once your account is ready we will confirm your application reference number by email so you can make your opening payment and start earning interest straight away. We will also send you a Welcome Pack to your address, with the information you need to securely access your account and a reminder of how to make your opening payment.

Once you have successfully applied for your account and we have confirmed it is open, you will need to make your opening payment.

If you’ve opened a Fixed Rate account or ISA, you have 14 days from your application date to make your opening payment. If we receive your payment within the 14 days we will guarantee either the rate you applied for, or our current rate advertised to new customers, whichever is higher.

If you don’t manage to make your deposit within the first 14 days of your application. You can still fund your account within 30 days of your application date and you’ll get the rate advertised at the time your deposit is made. It’s important to remember this might be lower than the rate you initially applied for.

If we have not received your funds within 30 days of your application, we will assume you no longer wish to hold your account with us and it will be closed. Any deposits received after this time will be returned and you will need to re-apply if you still wish to open an account.

Your payments in and out of your account must be from your nominated account. This account must be in the name or names of the Paragon Bank account holder or holders.

When you apply for your account we carry out electronic checks to verify your identity and address. Sometimes we may need some additional information from you to help us with this.

If, when you complete your online application, you receive a message to say we need more information about you; please check your emails for details on what to do next. We’ll email you straightaway to tell you what we need you to send us. And if for any reason we’re still unable to complete your application we’ll contact you.

At this stage, even though we may ask for some additional information, you can still make your opening payment whilst we carry out our checks. If you have applied for a Fixed Rate account, we recommend you make your opening payment as soon as possible. This is because you need to have paid money into your account within 14 days of your application to guarantee the rate you applied for.

As soon as we’ve completed our checks, we’ll send you a welcome pack which includes your username so you’ll be able to log in to your account and see your opening payment. If we can’t complete your application we’ll return your money as soon as possible.

We will always process your application as soon as we can. Sometimes, if we’re experiencing high volumes or we ask you to provide additional documentation this may take longer than usual. Please be assured that we are doing everything we can to get your account up and running as quickly as possible.

In the unfortunate circumstances of the death of one of our customers, if the account is a sole account we provide the option to the person(s) handling your affairs to either continue with the account or close the account. If the account is a joint account it will automatically transfer to the surviving account holder under the law of survivorship.

They will need to post us the original or a certified copy of the death certificate, with confirmation of whom will be dealing with the account. This is so we can register the death.

We’ve also created a helpful guide to help anyone going through this difficult time.

Please freepost documents to:
RTEX-LLUT-KKKE, Paragon, PO Box 850, Wallsend NE28 5BJ

If sending originals of important documents such as passports, licences and identity documents, please use registered post. We’ll return all original documents we receive.

We will email you at least 28 days before your fixed rate comes to an end asking you to log in to your account to see your options so you can choose what to do with your money.

You can check this by logging into your Paragon Bank account, pick the account you’d like to know the end date for and head to account details. On this page you will find your “maturity date” which is the date your fixed rate ends.

There are a few reasons you may not have received an email.

Your fixed rate may not be coming to end just yet. You can check this by logging into your Paragon Bank account, pick the account you’d like to know the end date for and head to Account Details. On this page you will find your “maturity date”. If your fixed rate is due to end in the next month you will be able to view your options and tell us what to do with your money.

Alternatively the email address we have on file may be incorrect, please log in and you can view and change your details. If we receive a notification that our email hasn’t reached you, we’ll send your reminder by post, so you can log in and choose your re-investment options.

We’ll offer you a range of options so you can choose where best to re-invest your savings. We aim to offer you flexibility so you can choose one or more of the options to move your money to.

You can re-invest it into another Fixed Rate account, move it to an Easy Access account or you can transfer to your Nominated Account.

You have until two working days before your fixed rate ends to tell us what to do with your money, otherwise your money will automatically roll into an Easy Access account.

An ISA is an ‘Individual Savings Account’ which allows UK taxpayers to benefit from tax-free interest on their savings now and in the future - so any interest you earn is all yours.

Each tax year the government sets a maximum amount you can invest into an ISA. This can be split between a Cash or Stocks and Shares ISA. You can find details of this years’ ISA allowance here.

To make an application as a power of attorney, please contact our UK based customer service team on 0800 052 2222

Opening hours

A power of attorney can either be set up on an existing account or a new account can be opened for the donor under power of attorney.

• The power of attorney document or the Receivership or Deputy order (as appropriate)
• The Enduring or Lasting power of attorney savings account application form that our customer services team will send to you. Please call them on 0800 052 2222 to request this
• Proof of identity and residency of the account holder (if they do not hold an existing Paragon savings account)
• Proof of identity and residency of the attorney (if they do not hold an existing Paragon savings account)
• The opening deposit in the form of a cheque drawn on the nominated account. Please make this payable to Paragon Bank re: the name of the account holder

• The power of attorney document or the Receivership or Deputy order (as appropriate)
• The Enduring or Lasting power of attorney savings account application form that our customer services team will send to you. Please call them on 0800 052 2222 to request this.
• Proof of identity and residency of the account holder (if they do not hold an existing Paragon savings account)
• Proof of identity and residency of the attorney (if they do not hold an existing Paragon savings account)

Paragon Bank is committed to giving consistently good returns to our customers and to making sure our rates are always clearly shown.

You can view the interest rate you are earning on your account by logging into your account.

Details of current and historic rates are also available on our website.

Yes, you can log into your account and print off an annual certificate of interest.

If we ever change the savings rate on your account we'll contact you.

If we are reducing your rate we'll let you know two months in advance. Should your product require more than 60 days’ notice for withdrawal, then we’ll inform you of our rate reduction in line with your notice period.

If we are increasing your rate we will contact you within 30 days of making the change.

You can make payments from your nominated account into your Paragon Bank savings account in two ways:

Electronic bank transfer

Simply tell the bank or building society of your nominated account that you would like to make an electronic payment using the following details:

The payment reference allows us to identify and apply your payment to your savings account. Without this there may be a delay processing your deposit or we may return your payment.

We will always ask you to use these details when making a payment. If you’re ever asked to send money to different payment details, then please contact us immediately.

Payments by cheque

If you would like to make your payment by cheque it must be from your nominated account and made payable to:

Paragon Bank re your name and savings account number / application reference number. For example "Paragon Bank re Mr A Smith 123456789"

You can send it to us Freepost at:

RTEX-LLUT-KKKE
Paragon
PO Box 850
Wallsend
NE28 5BJ

Please note: We cannot accept deposits from any source other than your nominated account. This includes deposits by cash or bankers draft. Any payments which are not from your nominated account will be rejected and returned without interest.

You can withdraw money from your savings account into your nominated account safely and securely, providing your account allows withdrawals and you have sufficient cleared funds.

Simply log into your account, and select the account you want to withdraw money from and follow the instructions on screen.

If we receive your request by 2pm your money should be in your bank account on the same day. If your request is after 2pm your money will be in your nominated bank account on the next working day.

When we receive your money, we’ll send you an email to let you know.

If we receive your money before 4pm, we’ll email you the same business day to confirm your money is in your account and available to view online. If we receive your money after 4pm, we’ll email you the next business day instead.

For example, if we receive your money on a Monday before 4pm we’ll email you on the same day. If we receive your money after 4pm on that Monday, we’ll email you on Tuesday.

Please remember, if you’re making an electronic payment from your nominated account you’ll need to check with your bank or building society how long it will take for them to send us your money. We are unable to control the time it takes for us to receive your money.

You can access your accounts by logging into our website. You will need the username we sent to you in your welcome pack along with the password and memorable data that you set up when you applied.

Once you have successfully logged into the website you can view your accounts and check balances and transactions. You can also view and print statements, update some of your personal details and move money (if your product terms and conditions allow this).

We’ve tried to make our internet service as simple and easy to use as possible. However, if you do have a problem or would like to talk to us there are a number of ways you can get in touch.

Call us

0800 052 2222

Opening hours

Secure message

We’ll respond to any messages as soon as possible and then let you know by email (at your registered email address) when we have sent a response.

Log into your account to send a secure message

Email

If you do not have access to log into your account, you can email us instead.

[email protected]

It’s important to keep your information up-to-date and let us know about any changes to your contact or banking details.

This helps us to make sure your money is safe and secure, and we can contact you quickly if there are ever any problems.

If you need to change any information we hold about you, including your nominated bank details, name, address, contact numbers or email address, log into your account. In some cases we may ask you to send us further information or complete a form.

Money can only be deposited from your nominated account and we will only ever return it to that same account.

We take security very seriously and all your information is held in the strictest confidence. We comply with the privacy standards followed by all major British financial institutions and constantly review and update our online safeguards to keep your information and money safe.

You are the only one who can access your account or authorise a transaction using your username, password and memorable data - provided you do not share this information with anyone else.

If you leave your screen inactive for more than five minutes, you will be automatically logged out of your account. Whilst you should always log off whenever you leave your computer, the automatic time-out provides some additional protection

Our full security policy can be viewed here.

Your access and use of our website is protected using 256 bit encryption known as the Transport Layer Security (TLS) protocol which makes sure that data is scrambled and cannot be read or understood by anyone else.

When you visit the Paragon Bank website (www.paragonbank.co.uk) and access the Savings log in page (online.paragonbank.co.uk), you will see the URLs are prefixed with ‘https’ which indicates that you are on the genuine, secure site.  In addition, a padlock or key may be displayed next to the URL text and the URL background may turn green (this is dependent upon the browser you are using).

It is important that the browser software you use supports the highest level of encryption that is used by us, so we suggest that you use the latest available browser version and keep up to date with security patches.

Our website is verified by online security certificates issued by GeoTrust which you can check to ensure that our website is genuine. If you receive a warning about the security of a website or its certificate, you should not use that site.

We also use firewalls to restrict access to our secure website and systems from unauthorised entry.

If you suspect that someone knows your security details, you should change your password or memorable details immediately. If you believe someone has had access to your account, call us on 0800 052 2222. We will investigate and set up new security details for you.

We collect information about you when you register or open an account with us through our website.

We may also collect information from other organisations, including Fraud Prevention Agencies.

We will also collect information about the way you use our products and services on our website through the use of cookies.

We use this information to provide you with your savings accounts and continually improve the products and services we offer.

If you have given us permission we will also use your information to offer you specific products and services we think may be of interest to you.

Full details of our data policy can be viewed here.

Your password and memorable data are the keys to your account. You must always keep them secret, never write them down or give them to anyone else. Make sure you use passwords and memorable data that cannot easily be guessed.

You must protect your computer from attack by employing up-to-date anti-virus and personal firewall software. You should also always keep the browser software up-to-date when using internet banking.

Fraudsters may sometimes send you emails with links to spoof websites trying to trick you into giving your security information away. They may offer you large sums of money or try to convince you there’s a problem with your account. If this happens, never click on links or enter personal, financial or security details until you have checked the email and website address carefully and you know the site is using encryption.

If you receive emails that are suspicious or you have any concerns, do not respond. Contact us by secure message, email [email protected] or phone 0800 052 2222 and we will investigate.

Please remember that we’ll never contact you by email, post or phone asking for your security details. When you call us, we will run through our security checks as standard and when you visit our website you can be confident that we comply with the privacy standards followed by all major British financial institution. This means it’s safe for you to click on the links within our site and log in to your account.

You can also find helpful information on online scams and how to protect yourself against them by visiting the FCA website.

Cookies are small data files which are sent to your computer from websites. They are stored on your computer’s (or other device such as tablet or smartphone) memory.

Our website uses these cookies to help provide you with a good user experience, understand how people use our website and also track the effectiveness of advertising campaigns.

When you first visit our website, we ask for your agreement to set cookies to comply with e-privacy regulations. Full details of our cookie policy are explained here.