Paragon Bank plc
United Kingdom
(AA)
(AA)Deposit amount: Min. £1,000 – Max. £85,000
Protection limit: Up to £85,000 payout in GBP
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Bank Details
Paragon Bank PLC is a subsidiary of the Paragon Banking group PLC which is a FTSE 250 company based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group PLC has over £13 billion assets under management and manages over 450,000 customer accounts.
Security & Deposit Protection
The FSCS is the United Kingdom's statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit. Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.
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