Deposits
Make your deposit by electronic bank transfer, cheque, from an existing Paragon account or by transferring existing ISAs.
Transferring your ISAs
You can transfer your existing ISAs from other providers. Your current years ISA subscription must be held with one provider, so if you’ve opened and funded an ISA somewhere else this tax year, you’ll need to transfer this year’s allowance in full. However, you can transfer previous years ISA subscriptions freely.
Withdrawals
There is a 270 days’ interest penalty for withdrawing from your ISA before the fixed term ends. So, if you close your ISA in the first 270 days, you may get back less than you invested. Please see your Product Terms and Conditions for details.
With Flexible ISAs and our ISA Wallet any amount you withdraw is added back to your annual ISA allowance for you to reinvest with us.
Nominated bank account
To help keep your savings safe, your Paragon accounts must be linked to a nominated bank account. This account must be a UK current account in your name, and we will only accept money from and send your savings to your nominated bank account.
Closing your account
If you change your mind, you have the right to close your ISA within 14 days of us receiving your opening deposit. If closed in this way it won’t count as an ISA subscription.
You can close your ISA by withdrawing all your savings, or it will be closed if it falls below the minimum required balance.