Paragon Bank Withrdrawal slow?

vienly

ForumUser7 said:

vienly said:

I made a withrdrawal from their Triple Access Account to my nominated HSBC account at 8am this morning however the money still hasn't arrived. It's been over 8 hours now.
I've triple checked my nominated account details are it is correct and matches.

Does anyone happen to know how long it usually takes?

I've never had to wait this long from any bank I've used.

To confirm, have the funds been debited from your Paragon balance? Just wondering if the withdrawal definitely went through.

As others have said, faster payment is end of next working day, but it is usually much much quicker. If not in by the end of today, probably call them and ask to speak to their fraud team on Wednesday - perhaps they’ve held the outgoing payment for checks.

Also, have you previously withdrawn from them to this account? Wondering if your nominated account is verified/authenticated.

The transaction has definilty gone through online as I can see them deducting the total amount, and seeing the transaction itself. The 2 customer service reps I spoke with yesterday also confirmed the transaction had gone through and said it will be with me by end of yesterday.

This is the first time I've withdrawn from them and will be taking the rest of my money out after this experience, only moved to them due to their interest rate which is no longer any good.
My savings account has been authorised using the code they sent me via post which I then used to authenticate online, not sure how they verify/authenticated my nominated account.

Considering they use HSBC and my nominated account is HSBC, I can't see there being any kind of delays.

I will give them a call about speaking to fraud team. Thank you

vienly

May have jumped the gun a little and decided to call them this morning to find out what's happening.
Been told he's cleared their end and that I should check with my nominated bank provider if it's being held on their end.
Told them it's the same bank they use which is HSBC!

Asked to speak to fraud department to see what what happened, been told they can't do that and only they can check and speak to their finance department.

If this is delayed due to faster payment being delayed till end of next working day they need to clearly state this it being in their website or being told by their customer service team.

newatc

If it was me, I would check with my bank to see if they can shed any light on it and if no result there and money not in your account by end of working day (5pm) then I would escalate it by putting in a formal complaint to Paragon. 

vienly

newatc said:

If it was me, I would check with my bank to see if they can shed any light on it and if no result there and money not in your account by end of working day (5pm) then I would escalate it by putting in a formal complaint to Paragon. 

I've spoken to my bank HSBC and they said they don't see anything incoming and nothing is being held. They said to ask Paragon to put a trace on the transaction to find out where it's gone.
I've spoken to 3 different people at Paragon so far and they are all telling me the same thing that the transaction had gone through yesterday morning which isn't helpful at all.
I'm getting sick and tired of this bank, what's worst of all is my entire savings and fixed ISA is with them!

vienly

So I called again (4th time) so far and spoke to a chap who advised they received an email at 10:52am this morning that they have system issues for withdrawals made yesterday and that I should keep checking, hoping that the payment will arrive by end of business day.

I know it isn't their fault as they were unaware of system faults but having to constantly chase and being told it isn't a problem at their end is just a pain.....

boingy

vienly said:

newatc said:

If it was me, I would check with my bank to see if they can shed any light on it and if no result there and money not in your account by end of working day (5pm) then I would escalate it by putting in a formal complaint to Paragon. 

I've spoken to my bank HSBC and they said they don't see anything incoming and nothing is being held. They said to ask Paragon to put a trace on the transaction to find out where it's gone.
I've spoken to 3 different people at Paragon so far and they are all telling me the same thing that the transaction had gone through yesterday morning which isn't helpful at all.
I'm getting sick and tired of this bank, what's worst of all is my entire savings and fixed ISA is with them!

Take a deep breath and forget about it until the end of today. It will almost certainly turn up, and be within the faster payments two day window. And despite what HSBC are telling you it is probably held up at their receiving end!

vienly

boingy said:

vienly said:

newatc said:

If it was me, I would check with my bank to see if they can shed any light on it and if no result there and money not in your account by end of working day (5pm) then I would escalate it by putting in a formal complaint to Paragon. 

I've spoken to my bank HSBC and they said they don't see anything incoming and nothing is being held. They said to ask Paragon to put a trace on the transaction to find out where it's gone.
I've spoken to 3 different people at Paragon so far and they are all telling me the same thing that the transaction had gone through yesterday morning which isn't helpful at all.
I'm getting sick and tired of this bank, what's worst of all is my entire savings and fixed ISA is with them!

Take a deep breath and forget about it until the end of today. It will almost certainly turn up, and be within the faster payments two day window. And despite what HSBC are telling you it is probably held up at their receiving end!

I'm just glad I didn't transfer my entire balance, but I will be as soon as they fixed their own issue.

vienly

Finally got my money, that'll teach me for put all my eggs in one basket!