Paragon Bank launched its first ISAs earlier this year. Following an initial exclusive offer to existing customers only, our ISAs have now been available to all savers across the UK since June. Instantly popular, customers have already opened over 5,500 Paragon Bank ISA accounts, depositing in excess of £120 million.
The current ISA rules allow customers to add up to £15,240 to ISA savings in the 2016/17 tax year. At Paragon Bank, we also welcome ISA transfers from existing providers, although customers should always take care to follow the correct transfer process to protect the tax-free status of their funds.
This month, we caught up with a few of our ISA pioneers. Here’s what they had to say about their experience:
District Councillor for Cawood and Wistow, John Cattanach, joined Paragon Bank in 2015 and became one of our first ISA customers:
Since opening an account with you, Paragon has become one of my favourite banks. Not only was I impressed with your ISA rates, but I found you to be a very savvy internet bank, providing a product that I want simply and efficiently. My contact with Paragon Bank has been problem free.
Retired finance manager, Andrew Boston decided to apply for a Paragon Bank Two Year Fixed Rate ISA. Andrew was organising a transfer from a previous ISA provider and was impressed to find that he could complete the transfer form online.
The ability to request the transfer of funds from my previous provider as part of the online application process felt like a real step forward. In the past, with other banks, I’ve always had to fill out a paper form to do this part of the process.
Finally, Royal Mail post woman, Nikki Halliwell, opened an Easy Access ISA with Paragon.
It is important to me that I am able to manage my account online, so alongside their rates, this was an attractive feature to me. The process of opening my account was so simple and the system is easy to use, I have had no issues with it. Paragon are a trustworthy company and it is very easy to apply for an account, on top of this they provide brilliant customer service. I have nothing to complain about at all.