Paragon Bank Fixed Rate Cash ISA Reviews

  Ratings based on 11 reviews       Last review 2 months ago    

Overall Rating

Average

1

2

3

4

5

Your Fixed Rate Cash ISA Reviews

11 reviews

Review Paragon Bank's Fixed Rate Cash ISA now

Stressful, miserable and a waste of time!

My very short time when them was stressful, miserable and draining experience any bank has given me. When I opened ISA, I attempted to transfer from my previous ISA no less than 10 times! I’d get emails to say that it could take up to 15 days, so I’d Read more

My very short time when them was stressful, miserable and draining experience any bank has given me.

When I opened ISA, I attempted to transfer from my previous ISA no less than 10 times! I’d get emails to say that it could take up to 15 days, so I’d not think anything of it. I then, first time, found out about 5 days later that the ISA transfer had failed and Paragon had failed to tell me. This happens 7 of the 10 attempts. Each time, they blamed my previous owner. When I called my previous ISA owner, they assured me it was Paragon.

Lucky enough, I managed to get out the nightmare. One small thing made me finally leave and, thankfully, I was in my cooling off period. I opened up and
Account with Skipton and never looked back. ISA transfer happened first time and almost instantaneously.

DONT USE PARAGON! you’ll always be ok the phone to them.

Reviewed on 17th September 2022
Sa1999's avatar
Sa1999

Shambolic

This bank is shambolic having tried to transfer existing Isa to a higher rate it was chaotic in the end I had to walk away

Reviewed on 29th July 2022
Owen Cullwick's avatar
Owen Cullwick

Competitive Rates

Taken a few accounts out with Paragon Bank over the years when they have had the best highest interest rates. Never had an issue with them.

Reviewed on 21st July 2022
Karen Davies's avatar
Karen Davies

Left in limbo

I applied online for a postal application form for fixed rate savings. This was sent out with amazing speed. I returned the application form and a cheque. The cheque was presented to my bank and cleared within 2 days. A week later I had heard nothing s Read more

I applied online for a postal application form for fixed rate savings. This was sent out with amazing speed.
I returned the application form and a cheque.
The cheque was presented to my bank and cleared within 2 days. A week later I had heard nothing so rang and was advised that I needed to provide proof of ID for 2nd applicant, my husband. I emailed a photo of relevant document proving ID Had a standard reply saying my application being processed. Rang the next day and was told my application was live and being processed and I would hear in due course!
Meanwhile Paragon have cashed my cheque but I don't have an account!!!
Paragon need to action accounts more speedily. They are quick off the mark to send out the application form but very tardy in opening the account.
Paragon don't install confidence

Reviewed on 7th May 2022
Old fogie's avatar
Old fogie

Good rates & easy online process

A month before expiry of major bank ISA decided to move to Paragon (rate difference 0.10% to 1.20% ). Online process easy if you've all your details to hand. All documents received by email & transfer completed on time.

Reviewed on 9th April 2022
CTP's avatar
CTP

Wanted to open Fixed cash isa a/c

Posted my application to open above account on 23rd November by transferring isa maturing funds from other bank. Maturity date was 30th November. Did not hear anything from the bank. Today ie. 8th December got a letter from original bank confirming that t Read more

Posted my application to open above account on 23rd November by transferring isa maturing funds from other bank. Maturity date was 30th November. Did not hear anything from the bank. Today ie. 8th December got a letter from original bank confirming that they had refixed amount plus interest for same period as originally fixed due to no instructions from me. I then rang Paragon bank to ask why they had not done the transfer. Firstly they said they had not received my application. On confronting with arguments, they accepted that they had received my application on 24th November and was held up for want of further documents from me. They hadn't communicated to me for these documents for 14 days from their receipt of my application.Due to their carelessness they have now lost my business.
I suggest to use other competent banks.

Reviewed on 8th December 2021
Janak 's avatar
Janak

No complaints department!

I had fixed term ISA coming to maturity with another provider and with Paragon offering the best of the very poor rates that are currently around, I completed an online form to transfer it to Paragon, being very careful to tick the "on maturity" box, as P Read more

I had fixed term ISA coming to maturity with another provider and with Paragon offering the best of the very poor rates that are currently around, I completed an online form to transfer it to Paragon, being very careful to tick the "on maturity" box, as Paragon's rate was lower than the fixed term ISA and I wanted to maximise the higher rate.

Despite this, the transfer was undertaken a few days early. Paragon said they have evidence they sent the other provider the correct instructions but refused to send it to them. Later they said that the previous account was not fixed interest, so had no end date, i.e. no maturity date! They are refusing to reimburse the lost interest and refusing to accept anything has been done incorrectly

They logged the complaint and said they would investigate, but three days later they merely repeated what I had been told before. Clearly no investigation had taken place. I have sent them evidence that it was a fixed term account, which has matured, and no longer exists, evidence that the early closure has resulted in lost interest and proof that I ticked the "on maturity" box . They now say they have to start the complaints process from scratch!

I have told them that I now want compensation as well as the interest reimbursed. Incidentally they have no discrete complaints department, so the people who "investigate" the complaint are in the same department as those who made the error! Total shambles of a bank.

Reviewed on 3rd December 2020
cwig's avatar
cwig

Worst bank we have ever dealt with and most unprofessional

We wanted to transfer a child cash isa into a3year fixed rate adult cash isa due to coming of age The application was made on line on 03/07/17 and we were asked to also provide I'd documents which needed to be verified and certified this was done and the Read more

We wanted to transfer a child cash isa into a3year fixed rate adult cash isa due to coming of age
The application was made on line on 03/07/17 and we were asked to also provide I'd documents which needed to be verified and certified this was done and the documents sent to paragon on 7th July we heard nothing and contacted them again most unhelpful said they were waiting for ID documents again so we sent them again
19th received letter asking for transfer forms to be completed we returned same day
21 another letter received asking for ID documents to be sent we sent some more same day. 2nd August another set of id documents requested and sent again 4th August fresh documents verified and sent recorded delivery to paragon
Phoned paragon to confirm that they had been sent recorded delivery only to be told account application has been closed due to the documents not being delivered never known such an unpleasant unprofessional bank in all my life talk about stressful and that is to try to deposit money

Reviewed on 4th August 2017
Mike Muir 's avatar
Mike Muir

Good customer service

Recently opened fixed rate bond,had problem with application rang helpline,phone was answered immediately,and problem solved,for internet bank only bank I think that is a great service

Reviewed on 21st July 2017
Trevor Mansell 's avatar
Trevor Mansell

Excellent 2year fixed rate

Recently opened a 2 year FRB for a large sum. The opening of the account was simple and there was no problems with transferring money in.

Reviewed on 6th July 2017
KELLY'SEYE99's avatar
KELLY'SEYE99

A complete waste of my time!

I had a substantial sum to invest in a 2-year bond a/c. Paragon Bank wasted a lot of my time and it never really got off of the ground. I made it quite clear at initial contact with Paragon that I would not be investing any cash until the a/c had been o Read more

I had a substantial sum to invest in a 2-year bond a/c. Paragon Bank wasted a lot of my time and it never really got off of the ground. I made it quite clear at initial contact with Paragon that I would not be investing any cash until the a/c had been opened. My first contact was on 18th April I received the welcome pack by post on Friday 29th April and immediately phoned about depositing cash that I had to transfer from another a/c. I was told by the female employee that unless my cheque was received by the next Bank working day then a lower interest rate would be applied. During the call she actually messed up the rates and their methods of customer identity checking are both unsatisfactory & deficient. I immediately closed the a/c and the large investment was successfully agreed within a ½-hour period with another internet Bank by a short chat and VERY simple online form completion. Within minutes I had received an email from the new Bank at a higher interest rate confirming that online identity checks had been determined & all the new open a/c details. My cheque is in the post!

Reviewed on 5th May 2016
Stan Dyson's avatar
Stan Dyson