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  • FIRST POST
    • iolanthe07
    • By iolanthe07 27th Nov 17, 2:45 PM
    • 4,923Posts
    • 4,636Thanks
    iolanthe07
    Paragon
    • #1
    • 27th Nov 17, 2:45 PM
    Paragon 27th Nov 17 at 2:45 PM
    I have £50K to put somewhere safe for a few years, and wonder about Paragon Bank, as it seems to offer about the best fixed rate deposit interest in what is a pretty dire savings environment. I realise that 2.5% may well not keep pace with inflation over 3 - 5 years, but I do need the government guarantee. Does anyone have any experience of Paragon Bank, as I hadn't heard of it before looking at the Savings & Investment section on here. Other suggestions welcome.
    I used to think that good grammar is important, but now I know that good wine is importanter.
Page 1
    • LoubyLoo
    • By LoubyLoo 27th Nov 17, 2:51 PM
    • 34 Posts
    • 12 Thanks
    LoubyLoo
    • #2
    • 27th Nov 17, 2:51 PM
    • #2
    • 27th Nov 17, 2:51 PM
    Yes I have an Isa with them. Held since 2015. No hesitation in recommending them. Very efficient and no problems at all.
    • 18cc
    • By 18cc 27th Nov 17, 3:52 PM
    • 68 Posts
    • 57 Thanks
    18cc
    • #3
    • 27th Nov 17, 3:52 PM
    • #3
    • 27th Nov 17, 3:52 PM
    You might want to consider Atom Bank for the high rates.

    I have used Paragon no problems at all though.
    • ColdIron
    • By ColdIron 27th Nov 17, 4:01 PM
    • 3,653 Posts
    • 4,396 Thanks
    ColdIron
    • #4
    • 27th Nov 17, 4:01 PM
    • #4
    • 27th Nov 17, 4:01 PM
    No problems with Paragon here
    • EdGasketTheSecond
    • By EdGasketTheSecond 27th Nov 17, 4:31 PM
    • 323 Posts
    • 180 Thanks
    EdGasketTheSecond
    • #5
    • 27th Nov 17, 4:31 PM
    • #5
    • 27th Nov 17, 4:31 PM
    https://uk.trustpilot.com/review/paragonbank.co.uk
    • Malchester
    • By Malchester 27th Nov 17, 5:19 PM
    • 54 Posts
    • 28 Thanks
    Malchester
    • #6
    • 27th Nov 17, 5:19 PM
    • #6
    • 27th Nov 17, 5:19 PM
    Have three accounts with Paragon - excellent service and very easy to open and use
    • Ifts
    • By Ifts 27th Nov 17, 8:26 PM
    • 1,762 Posts
    • 1,095 Thanks
    Ifts
    • #7
    • 27th Nov 17, 8:26 PM
    • #7
    • 27th Nov 17, 8:26 PM
    I have had a couple of Fixed Rate Savings Bonds with Paragon over the years (one has just matured) with no problems. And would happily recommend.
    Never let the perfume of the premium overpower the odour of the risk
    • xylophone
    • By xylophone 27th Nov 17, 9:44 PM
    • 23,611 Posts
    • 13,748 Thanks
    xylophone
    • #8
    • 27th Nov 17, 9:44 PM
    • #8
    • 27th Nov 17, 9:44 PM
    I found Paragon very efficient.
    • iolanthe07
    • By iolanthe07 28th Nov 17, 10:11 AM
    • 4,923 Posts
    • 4,636 Thanks
    iolanthe07
    • #9
    • 28th Nov 17, 10:11 AM
    • #9
    • 28th Nov 17, 10:11 AM
    Oh dear! Not great reviews on the whole, but I suppose satisfied customers don't bother sending in comments.
    I used to think that good grammar is important, but now I know that good wine is importanter.
    • roddydogs
    • By roddydogs 28th Nov 17, 10:24 AM
    • 5,938 Posts
    • 2,469 Thanks
    roddydogs
    Ok but doesn't do "instant" transfers, you have to wait till next day.
    • cloud_dog
    • By cloud_dog 28th Nov 17, 11:26 AM
    • 3,302 Posts
    • 1,861 Thanks
    cloud_dog
    Oh, how the world has changed
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • EdGasketTheSecond
    • By EdGasketTheSecond 28th Nov 17, 4:44 PM
    • 323 Posts
    • 180 Thanks
    EdGasketTheSecond
    Oh dear! Not great reviews on the whole, but I suppose satisfied customers don't bother sending in comments.
    Originally posted by iolanthe07
    Well there weren't many reviews. To check and balance your theory (probably correct) you could look at other providers review scores on there.

    You also have to beware of 'Fake News' i.e. where a person or persons employed by or associated with a company are pursuaded to write favourable reviews which aren't true. Seen this a lot; you can usually tell the fake ones as the 'person' has only made one post and all the positive reviews are written in the same style. Usually they are interspersed with terrible reviews (genuine) and the review score is completely polarised with predominantly 1's or 5's.
    Last edited by EdGasketTheSecond; 28-11-2017 at 4:49 PM.
    • Xenon
    • By Xenon 28th Nov 17, 5:31 PM
    • 56 Posts
    • 98 Thanks
    Xenon
    I have just opened an easy access account with them - very efficient so far - well designed website.
    • where are we
    • By where are we 28th Nov 17, 6:16 PM
    • 166 Posts
    • 50 Thanks
    where are we
    Opened a 1 year fixed rate account last month - so far no problems - deposits via faster payments don`t show up until the next day, otherwise very efficient.
    • fryedslyce
    • By fryedslyce 28th Nov 17, 10:44 PM
    • 34 Posts
    • 72 Thanks
    fryedslyce
    Opened a 1 year fixed rate account last month - so far no problems - deposits via faster payments don`t show up until the next day, otherwise very efficient.
    Originally posted by where are we
    When I make a deposit via faster payments it shows in my Paragon account the same day, usually just a few hours later.
    • AirlieBird
    • By AirlieBird 29th Nov 17, 5:29 AM
    • 737 Posts
    • 494 Thanks
    AirlieBird
    Opened a 1 year fixed rate account last month - so far no problems - deposits via faster payments don`t show up until the next day, otherwise very efficient.
    Originally posted by where are we
    When I make a deposit via faster payments it shows in my Paragon account the same day, usually just a few hours later.
    Originally posted by fryedslyce
    Both of you are right to an extent. Payments received before 1pm on a business day will appear in your account on the same day. Payments received after this time or on a non-business day will appear the next business day.
    Last edited by AirlieBird; 29-11-2017 at 5:33 AM.
    • roddydogs
    • By roddydogs 29th Nov 17, 6:41 AM
    • 5,938 Posts
    • 2,469 Thanks
    roddydogs
    Yes, but that's only on working days, weekends & bank holidays mean a further delay!
    • Malchester
    • By Malchester 29th Nov 17, 6:47 AM
    • 54 Posts
    • 28 Thanks
    Malchester
    I would not use Paragon if I wanted immediate access but am happy to have Paragon for 'easy access' I've next business day, or fixed rate. For immediate access you cannot beat Tesco Internet Saver which gives almost immediate transfer to an account where you can get money out with a card.
    • beefturnmail
    • By beefturnmail 29th Nov 17, 12:11 PM
    • 627 Posts
    • 185 Thanks
    beefturnmail
    They are quite loose with the phrase 'Easy Access' in my experience.

    I opened an account last week and made an initial deposit via the linked bank account. A couple of days later I realised I needed some of that deposit for something else. No withdrawal option in their internet banking so I send them a secure message. 2 days later they respond to say I need to send them proof of ownership (original copy of a bank statement) of my linked banked account before they can allow a withdrawal (to the same account from which they accepted the initial deposit!) So, by the time this is all sorted, it'll have been at least a week's delay. I was able to source the money I needed from elsewhere, but from an account paying a higher rate of interest.
    • fryedslyce
    • By fryedslyce 29th Nov 17, 12:30 PM
    • 34 Posts
    • 72 Thanks
    fryedslyce
    Both of you are right to an extent. Payments received before 1pm on a business day will appear in your account on the same day. Payments received after this time or on a non-business day will appear the next business day.
    Originally posted by AirlieBird
    I've made a payment from my nominated account after 1pm and it was in my Paragon account by 5.00pm the same day.
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