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Paragon Bank: Fixed Rate Cash ISA reviews

Name: Fixed Rate Cash ISA
Rating: 3.06 (18 reviews)

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3.35

Based on 18 reviews, last reviewed 1st Mar 2025

100% increase in 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

39%

17%

3 star

2 star

44%

Latest highest rating:

5

Clear and straightforward banking Clear and straightforward banking with consistently high interest rates. Switching was easy with good communication throughout. They also offered a sp... Read more Reviewed on: 1st March 2025

Latest lowest rating:

1

Awful Customer service, slow and frustrating I am a longstanding customer but they have been absolutely pathetic in my ISA transfer. Despite numerous calls to them and promises from staff to look... Read more Reviewed on: 22nd September 2023

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About this product

Paragon Bank Fixed Rate Cash ISA reviews (18)

Review of the Paragon Bank, Fixed Rate Cash ISA:

Clear and straightforward banking

Clear and straightforward banking with consistently high interest rates. Switching was easy with good communication throughout. They also offered a special rate on renewal after the first year matured. Overall, I would highly recommend them. Reviewed on: 1st March 2025

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

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 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

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 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

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 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

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

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

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 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

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