How do I apply for a new postal account as an existing customer?
Step 1 - Apply by post
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.
Step 2 - Make your opening deposit
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.
Cheque
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
Electronic bank transfers
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.
Important information:
- Select business account if asked for an account/payee type.
- Make sure you use the right payment reference; it helps us deposit your savings to your Paragon account without delays.
- It’s important to use “Paragon Bank PLC” when depositing funds electronically, it protects your savings by making sure you’re sending money to the right place.
- If you have entered all payment details correctly and you’re still having difficulty, please contact your bank or building society.
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.
Step 3 - Your account details
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.