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To open a Paragon savings account, you must be 18 years old or over and a UK resident excluding the Channel Islands and Isle of Man for tax purposes. Our accounts are not currently available for trusts, charities or businesses.
Using a letter of authority you can appoint a Financial Advisor to manage your account. The letter must be dated within six months.
A nominated bank account is a UK current account held in your name that is linked to all your Paragon accounts. It helps keep your savings safe and secure, by only allowing your savings to move between your Paragon accounts and your nominated bank account. It also helps us comply with money laundering regulations.
Your nominated bank account must be a UK current account held in your name either as a joint or sole holder. The same account will be linked to all your Paragon savings accounts and ISAs.
We can only accept deposits from and send withdrawals to your nominated bank account.
Simply click the Apply Now button on your chosen account to begin your application. You’ll need your contact details, email address and details of the UK current account to register as your nominated bank account. If you’re applying for a Paragon cash ISA, you’ll also need your National Insurance Number.
Please click here for our latest online availability.
You can make your opening deposit by electronic bank transfer, cheque or transferring an existing ISA.
We will email you your application reference number, which you can use to make your opening deposit so you don’t have to wait for your account number.
You have 28 days from your application request to make your opening deposit and secure the rate you applied for. After 28 days your account will be closed, and you’ll need to reapply.
Deposits must come from your nominated bank account, or transferred from an existing ISA provider.
You’ll need to authenticate your nominated bank account. To do that we will send you a separate letter with instructions.
Sort code: 40-02-50(This may show up as HSBC, we only use them as our clearing bank)
Account number: 31344897
Payee: Paragon Bank PLC
Payment reference: Your Paragon account number or application reference number.
Please make your cheque payable to:
"Paragon Bank Re your name and savings account number/application reference number."
And send freepost to:
RTEX-LLUT-KKKE, Paragon, PO Box 850, Wallsend NE28 5BJ
Important information:
After all checks and verifications have been completed we will write to you confirming your account details, with a reminder of how to make your opening deposit.
We will also confirm your Paragon account number, which is your new payment reference. It replaces the application reference number you were sent via email when we received your application. Don’t worry if you have sent a deposit using this number it will still reach your Paragon account.
Simply request an application pack online or call us and one will be posted to you. You’ll receive your pack within three business days.
You’ll need your contact details, and details of the UK current account to register as your nominated bank account. If you’re applying for a Paragon cash ISA, you’ll also need your National Insurance Number.
Complete your application form and return to us in the prepaid envelope provided.
Please check here for latest postal availability.
You can include a cheque with your completed application form to make your opening deposit. Or make an electronic bank transfer once your Paragon account is open.
Provided you make your opening deposit within 28 calendar days of requesting your application form, we’ll guarantee the interest rate shown when you requested your application. Or, if higher, the rate advertised on our website at the time. If we don’t receive your initial deposit within 28 days your Paragon account will be closed, and you’ll need to complete a new application.
“Paragon Bank Re your name and savings account number/application reference number.”
All deposits must be made from your nominated bank account. This account must be in the name(s) of both or either savings account holder.
If you make your deposit by Electronic Transfer, you'll need to send a payment from your nominated bank account using our sort code, account number and your application reference or savings account number as the reference.
After all checks and verifications have been completed, we will send your Welcome Pack to your address. This will include your account details and a reminder of how to make your opening deposit.
Once your account is opened, you will receive a form that requests your memorable details. We may ask you for these when you speak to us.
Login to your account by clicking the ‘Login’ button on the right-hand side of the toolbar. Then select the ‘Savings’ link in the dropdown menu and sign in using your personal details.
Here you can access the full range of available products.
Select the account you wish to open.
Complete the online application form to open your new account.
Simply request an application pack online or call us to request one and we will post it to you. You’ll receive your pack within three business days.
Complete your application form and fill out the section for existing customers only and return it to us in the prepaid envelope provided.
If you’re applying for a Paragon cash ISA, you’ll also need your National Insurance Number.
Please check here for the latest postal account availability.
You can either make an electronic bank transfer once your Paragon account is open, or include a cheque with your completed application form to make your opening deposit.
Provided you make your opening deposit within 28 calendar days of requesting your application form, we’ll guarantee the interest rate shown when you requested your application. Or, if higher, the rate advertised on our website at the time we receive your funds. If we don’t receive your initial deposit within 28 days your Paragon account will be closed, and you’ll need to complete a new application.
Sort code: 40-02-50
(This may show up as HSBC, we only use them as our clearing bank)
After all checks and verifications have been completed, we will send your Welcome Pack to your address. This will include your account details and a reminder of how to make your opening deposit, if you haven’t already done so.
A postal application pack can be requested via the product page. Simply click on ‘View all accounts’ from the menu and select the account your wish to apply for. All accounts that can be opened in this way will have ‘post’ listed against them. Once you have selected the account you will see an ‘Apply by post’ button at the top of the page. Fill out the details on the form and click submit. Your postal application pack will be sent within three working days.
If you are a new customer and have received a message to say we need more information about you, please download our Identity Guide to give you all the information you need on the checks we carry out, the type of documents we can accept to help verify your ID and what you need to do.
Identity Guide
You can still make your opening payment while we verify your identity using your application reference number. If for any reason we are unable to complete your application, we’ll contact you and return your money as soon as possible.
If you’ve been asked to send us a certified copy of a document for identification, security or fraud prevention the following people can certify your document:
Your documents must be certified within one month of us receiving them. Every page must be certified, and the first page should include the name, profession, address, and telephone number of the certifier, we may need to contact them. They should sign, date, and include the declaration “I certify this is a true copy of the original” on the copy of your document.
Paragon are registered under the Financial Services Compensation Scheme (FSCS), meaning your eligible savings are protected up to the current FSCS limit.
You can find more information on the FSCS here or visit the FSCS website.
After we’ve processed your documents, we will be in touch if there’s anything missing or additional we need to open your account. If not, we will confirm when your account is open and return all original documents to the return address you provided.
Four easy steps to filling in a cheque:
Date your cheque, this is in the top right corner.
On the line that starts ‘pay’, write "Paragon Bank, your name and savings account number or application reference number”, and the amount you want to deposit in words. It’s recommended to draw a line in the rest of this space and write the word ‘only’ for your security”
Write the amount to be paid in numbers.
Sign your cheque
Once you've filled in your cheque simply send it to us FREEPOST: RTEX-LLUT-KKKE, Paragon, PO Box 850, Wallsend NE28 5BJ
We've collected all our useful documents in one place for your convenience.
See the reviews Paragon customers have written about our savings accounts and services.
Head officeParagon51 Homer RoadSolihullWest MidlandsB91 3QJ
Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551