Paragon via Raisin £50 cashback + £50 referral?

jacoscar

topcat105 said:

My six months with Paragon matured yesterday and I was pleased to see my £50 bonus added to my Raisin transaction account.
I decided to close my paragon account which should take 2 business days.
Today I have received my paragon balance in my raisin account but no accrued closing interest as promised in the t & c's.
Balance in termination document from paragon is £10246.36 but balance transfer to Raisin is £10211.24
Anyone else had this problem ? 
TIA

I was finally able to log in. I have £10205.76 after 6 months, which only corresponds to 4.1%

I also see £50 ‘available to invest’, but I cannot see how to access them at the moment

topcat105

jacoscar said:

Mine should be maturing today, but I cannot log in due to a technical problem.

@topcat105, what do you mean by accrued closing interest?

I mean the interest earned from 30th September to yesterday.
You should be able to withdraw the £50 to your nominated account but if you want to withdraw the £10k balance you need to close the paragon account 
It is then transferred to your Raisin account (2 days) then you can withdraw it or reinvest it.
I'm closing mine as soon as this is sorted. Too complicated to get my money.

refluxer

jacoscar said:

I have £10205.76 after 6 months, which only corresponds to 4.1%

What was the original rate ? Don't forget that if you opted for monthly interest, the headline AER rate is only achievable for accounts that run for 1 year or more, so an account that pays interest monthly and runs for 6 months will miss out on a further 6 months-worth of compounding that would lead to that AER figure.

jacoscar

refluxer said:

jacoscar said:

I have £10205.76 after 6 months, which only corresponds to 4.1%

What was the original rate ? Don't forget that if you opted for monthly interest, the headline AER rate is only achievable for accounts that run for 1 year or more, so an account that pays interest monthly and runs for 6 months will miss out on a further 6 months-worth of compounding that would lead to that AER figure.

refluxer said:

jacoscar said:

I have £10205.76 after 6 months, which only corresponds to 4.1%

What was the original rate ? Don't forget that if you opted for monthly interest, the headline AER rate is only achievable for accounts that run for 1 year or more, so an account that pays interest monthly and runs for 6 months will miss out on a further 6 months-worth of compounding that would lead to that AER figure.

It shouldn’t matter. AER is a figure that makes compounding irrelevant. The interest they paid (~£40/month) seems more or less 4.75%. It’s only that I’m also to receive the interest for October, which should be paid today