Paragon Bank Cash ISAs

Richchad

I am in the process of transferring a couple of Cash ISAs to Paragon Bank Triple Access Cash ISA variable rate accounts until I can find a good fixed rate when the Base rate increases settle down.

The rate when I applied a month ago was 1.35% and I was then tempted to transfer to Newcastle B.S. as rate was 1.5%, however after logging on to Paragon they are showing the interest rate as 1.54% for both our ISAs, one has been funded and the other is still waiting to be funded (that is another story) but when I look at their website it is still showing the same cash ISA account as 1.35%...

I am assuming they just haven't changed the rate on their website but have on existing accounts which seems odd?

S_uk

I have the issue 8 which they've increased the rate on. The one on their website is issue 9, maybe they just haven't got round to applying it to the current issue yet as I'd be surprised if they aren't going to increase it as well.

If they hadn't increased the rate on my account I'm sure I'd be transferring to elsewhere as 1.35% especially for limited access isn't going to be that competitive.

refluxer

Yes, it looks like Paragon have increased the rate for some previous issues but not the issue 9 currently available.

Richchad

S_uk said:

I have the issue 8 which they've increased the rate on. The one on their website is issue 9, maybe they just haven't got round to applying it to the current issue yet as I'd be surprised if they aren't going to increase it as well.

Yes I am on issue 8 as well, I hadn't noticed the one on website is issue 9 but as you say it would be surprising if it wasn't applied to issue 9 as well.

Just after I posted I received emails from Paragon informing me of the rate increase.

Richchad

I see this morning the Paragon Bank Triple Access Cash ISA issue 9 has had the rate reduced to 1.3% very strange?

isasmurf

It's still 1.35%. It's the non ISA version that is 1.3%. 

Richchad

isasmurf said:

It's still 1.35%. It's the non ISA version that is 1.3%. 

Oh yes, looked at the wrong link...I thought it didn't make sense, thanks for the correction...

isasmurf

Issue 9 has matched the previous issues at 1.55% now

rich11

Sorry to hijack the thread but I have just opened an ISSA with Paragon. I transferred £500 at 6pm but its not showed up in account yet. Do transfers in usually take a while? 

ZeroSum

rich11 said:

Sorry to hijack the thread but I have just opened an ISSA with Paragon. I transferred £500 at 6pm but its not showed up in account yet. Do transfers in usually take a while? 

Yes. If you do it after 2pm, it won't show up until next day. Before 2pm & it'll be there sometime in afternoon. Ditto with withdrawals

rich11

ZeroSum said:

rich11 said:

Sorry to hijack the thread but I have just opened an ISSA with Paragon. I transferred £500 at 6pm but its not showed up in account yet. Do transfers in usually take a while? 

Yes. If you do it after 2pm, it won't show up until next day. Before 2pm & it'll be there sometime in afternoon. Ditto with withdrawals

Ah that explains it. Thank you for the reply