Paragon Bank

gizmoscratch

Simple question - are they legit? Is so, are they any good? When you look at the reviews, they appear to be terrible.

RetSol

They are legit but, in my experience, their customer service is poor.  I applied to them on 25th July for a transfer of ready cash from my Aegon S+S ISA to my Paragon cash ISA.  I am still waiting for the the cash to be transferred although I am now hopeful that it will happen this week.  There have been issues on both sides - Aegon and Paragon - but the latter's customer service people seem to lack intiative and basic knowledge of the product.  If you are not looking for an ISA, I recommend Hargreaves Landsdown Active Savings.  I opened an account last week and found the process very smooth. As of yesterday, they were still offering some of the best rates available (including from Paragon). 

SpanishBlue

I opened a fixed account with them on Monday for the 1st time and was impressed at how easy the whole process was.

They certainly are legit, you get the full £85k FSCS protection.

With most reviews it's the unhappy 1% that write reviews. The happy 99% don't bother.

Early days yet for me, but so far, I am impressed with them.

Thrugelmir

All banks are highly regulated. Due to the well discussed issue that pervades currently. Be surprising if everything was working well. 

t0rt0ise

I've never had to use customer services but the internet actions are fine. Everything ran smoothly when opening account and transferring money in and out.

schiff

I've been with them a couple of years (Notice account, cash ISA and now the 1.3% account) and have been completely happy with them. In fact this morning I had a reply to a private message I'd sent y/day. 

MarkFromCornwall

gizmoscratch said:

Simple question - are they legit? Is so, are they any good? When you look at the reviews, they appear to be terrible.

I've had savings products with them in the past and everything has gone smoothly.  I've just opened a new account with them and all is going smoothly - my initial deposit showed up online within hours.

ffacoffipawb

They have accounts under Hargreaves Lansdown Active Savings and it all works well. Opened a fixed rate account via that route as well as my existing instant access.

Note that withdrawals for instant access accounts are not instant with Active Savings, but it is good enough - usually get the money in the bank within a few days.

ZeroSum

I've got an easy access account with them & have no complaints.

They also have a regular withdrawal feature which even though I've never used, I think could be useful to some. 

margaretx9

Would totally recommend them.
Always offering good/close to best buy rates for instant access and fixed rates - both for isas and general savings
Operate a split isa (wallet) that allows you to invest your cash isa allowance across multiple products and move funds around easily  if rates on one account go down and a newer product becomes available
Simple account opening process - takes seconds as an existing customer - and all done online (albeit they will send confirmations by post)
No issues or problems with them at all  - and I have been with them since they started!

StellaN

If you have any existing account directly with Paragon they are still offering the 1.30 one Year Fixed Rate online. I have opened one just now.