Welcome to Paragon Bank

Transcription

1 Welcome to Paragon Bank A few things to get you started...

2 Welcome to Paragon Bank At Paragon Bank, we believe in great service and consistent value for our customers. That s why we offer a range of savings and loans designed to make our customers lives as easy as possible. We re not weighed down by an expensive branch network or complicated products, whether its savings, mortgages or loans, all our products are what they should be simple, safe and transparent. We re also part of the Paragon Group of companies, a FTSE 250 company who are a leading provider of loans and mortgages in the UK. Paragon Group manages over 10bn worth of assets, so you know you re in safe hands. Your savings account We re committed to providing all of our customers with straightforward savings accounts. There are no hidden extras or nasty surprises, just consistently good value and great service, something you can rely on. All our savings accounts are operated online and are easy to set up and manage. From your secure online login you can view your accounts, check balances and view and print statements. You ll also be able to update your personal information, so your contact details are up to date should we need to get in touch. The rest of this guide helps you get up and running with your new savings account. Log in at now to get started, or call our friendly team on for further help and support. Thank you for choosing us PAGE 2 OF 8

3 Getting started A Paragon Bank savings account is simple and straightforward to use, so it won t take long to get you up and running. To make sure you get the most out of your account, below are a few handy tips to get you started. Making your opening deposit If you haven t done so already, the first thing you need to do is make your opening deposit to activate your account. As part of the online application process you provided us with your nominated bank account details but this doesn t mean you ve made your opening deposit. You ll need to do this by either electronic bank transfer or cheque from your nominated account. ELECTRONIC BANK TRANSFERS To make an electronic transfer into your account, simply tell the bank or building society of your nominated account that you d like to make a payment and use the following details: Sort code: Account number: Name of payee: Paragon Bank Payment reference: <account number> CHEQUES Any cheques you want to deposit into your account must be from your nominated account. Please make all cheques payable to Paragon Bank re your name and account number (for example Paragon Bank re Mr A Smith ) and send it to us Freepost at: RTEX-LLUT-KKKE Paragon Bank PO Box 850 Wallsend NE28 5BJ On all Paragon savings accounts, you have up to 30 days from the date of your application to make your first payment. However, if you ve applied for a fixed rate account you must make your deposit within 14 days to secure the rate advertised on the date of your application. We ll you when we receive your opening deposit. PAGE 3 OF 8

4 Using your account You can manage your account online wherever you are and whenever you like by logging in with your username and password. Your username is included in your welcome letter and you can use the password and memorable data that you set up when you applied. Once logged in to your account you can view your balance, check your account details and rates or tell us if your personal details change. You can also view and print statements as we don t send paper statements. You can print your statements at any time. Withdrawing money from your account If your account allows you to withdraw money from it, the easiest way is to make a request online. We ll then move your money to your nominated bank or building society account, or another of your Paragon Bank accounts where allowed. If you have a fixed rate savings account you cannot make a withdrawal before it matures. Your account will mature on the anniversary of the date we receive your money and we ll write to you a few weeks beforehand to tell you about your maturity options. Please check your product terms and conditions for specific information about withdrawals on your account. How we calculate interest payments Interest is calculated on your savings account on a daily basis and is paid either monthly or annually, depending on the type of savings account you hold. WHEN INTEREST IS PAID If your savings account has interest paid on a monthly basis, we ll pay the interest each month on the date you first paid money into your account. For example, if you first paid money into your account on the 8 March, we ll pay interest on 8 April, 8 May and so on. If your account has interest paid on an annual basis, we ll pay the interest each year on the same date you first paid money into your account. For example, if you first paid money into your account on the 20 June, we ll pay interest each year on the 20 June. HOW INTEREST IS PAID Interest payments are paid directly into your Paragon Bank savings account, your nominated account or another Paragon Bank savings account, whichever suits you best. You can change the account that receives your interest payment at any time, just log in to your account, go to change my details then change personal details and choose the account you want your interest payments to go to. PAGE 4 OF 8

5 Your savings are safe and secure with us Paragon Bank takes security very seriously and all your information is held in the strictest confidence. We comply with the privacy standards followed by all major British financial institutions and constantly review and update our encryption systems to keep your information and money safe. With your username, password and memorable data, you re the only person who can access your account provided you do not share this information with anyone else. Money can only be deposited from your nominated account. We ll only ever return money to the nominated bank or building society account we hold on record for you at the time, or another of your Paragon Bank accounts where allowed. 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 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 Information about the Financial Services Compensation Scheme We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme. In respect of deposits, an eligible depositor is entitled to claim up to 75,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be 75,000 each, making a total of 150,000. The 75,000 limit relates to the combined amount in all the eligible depositor s accounts with the bank including their share of any joint account, and not to each separate account. For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) visit, refer to the FSCS website or call the FSCS on or Please note only compensation related queries should be directed to the FSCS. PAGE 5 OF 8

6 Tell us what you think We are committed to providing a high standard of service to our customers so if you have any suggestions or feedback then please let us know. We appreciate that we don t always get it right, so if you feel this has happened we want you to tell us about it so we can put it right. If you do have a complaint, here s what you can expect from us. If we cannot resolve your complaint within two business days, we will send written acknowledgement within five working days. We will then undertake a full investigation, to enable us to make an informed assessment of your complaint We will send you a final response within eight weeks, which will let you know the outcome of our investigation and if appropriate, advise you of what we intend to do to rectify the problem. If we disagree with your complaint, we will clearly explain the reason why Throughout the eight week investigation or until we issue a final response, we will keep you informed of our progress. We may also contact you to ask you to provide further information regarding the issues you have raised. If you are unhappy with how we have resolved your complaint you can choose to refer your complaint to the Financial Ombudsman Service. They provide a free, independent service to help resolve complaints. Financial Ombudsman Service Exchange Tower London E14 9SR PAGE 6 OF 8

7 Getting in touch We are always here to help. If you have a question or would like to contact someone about your account, then here s how you can get in touch: (lines are open Monday to Friday, 9am-5pm excluding bank holidays) savings@online.paragonbank.co.uk Paragon Bank PLC PO Box 850 Wallsend NE28 5BJ PAGE 7 OF 8

8 PBS11225 (08/2015) PAGE 8 OF 8 We recommend you print and keep this information for your personal records or to refer to in the future