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US citizens in the UK · Institutions

Which Paragon Bank accounts accept US citizens

Last checked

Paragon Bank has been checked for US citizens across 2 account types. Both are open to a US person.

If you already have an account with Paragon Bank, a second one there is usually the easier application, because Paragon Bank has already checked who you are. Each account below carries its verdict, the evidence behind it and the date it was checked.

At a glance

Account Verdict Last checked
Savings accounts Opens
Cash ISAs Opens

Savings accounts

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Opens

Paragon asks that you are 18 or over and resident in the UK for tax purposes, with no requirement to be tax resident nowhere else; its terms tell a US person to confirm that status on the application, which is routine reporting rather than a bar. The US taxes the interest as ordinary income.

FSCS £120,000 · online and post

Account Terms The catch
15 Month Fixed Rate
Access
Fixed term
Rate
4.45% AER, fixed
Term
15 months
Min
£1,000
Max
£500,000
Rate as of
 No withdrawals for the full 15 months.
1 Year Fixed Rate
Access
Fixed term
Rate
4.00% AER, fixed
Term
1 year
Min
£1,000
Max
£500,000
Rate as of
 No withdrawals for the full year.
120 Day Notice
Access
Notice
Rate
3.75% AER, variable
Min
£500
Max
£500,000
Rate as of
 You give 120 days notice before you see your money.
Triple Access Savings
Access
Easy access
Rate
3.20% AER, variable
Min
£1
Max
£500,000
Rate as of
 Falls to 1.25% from your fourth withdrawal until the account anniversary.

Source: Paragon Bank savings rates, 2026-08-17 Last checked Paragon Bank's own page

Cash ISAs

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Opens

Paragon asks only that you are 18 or over and a UK resident for tax purposes, with no requirement to be tax resident nowhere else. Its general terms go further than most and expressly contemplate US persons, who confirm that status on the application form. The IRS still taxes the interest as US income, as the wrapper gives no US relief.

FSCS £120,000 · online and post

Account Terms The catch
1 Year Fixed Rate Cash ISA
Access
Fixed term
Rate
4.40% AER, fixed
Term
1 year
Min
£500
Max
£500,000
Rate as of
 Fund within 28 days of applying; withdrawals and transfers out cost 90 days of interest.
2 Year Fixed Rate Cash ISA
Access
Fixed term
Rate
4.20% AER, fixed
Term
2 years
Min
£500
Max
£500,000
Rate as of
 Fund within 28 days of applying; withdrawals and transfers out cost 180 days of interest.
40 Day Notice Cash ISA
Access
Notice
Rate
3.65% AER, variable
Min
£500
Max
£500,000
Rate as of
 Unlimited withdrawals on 40 days notice, and it is a flexible ISA.
Triple Access Cash ISA
Access
Easy access
Rate
3.51% AER, variable
Then
1.25%
Min
£1
Max
£500,000
Rate as of
 The headline rate holds for up to three withdrawals in twelve months; a fourth drops it to 1.25%.

Source: Paragon Bank cash ISAs and general terms, 2026-08-17 Last checked Paragon Bank's own page

Account names link to the provider's own site. momo has no active affiliate partnerships; if that changes it will be disclosed and will never change a verdict. Every institution, A to Z.

Confirm your own position with a cross-border specialist. Acceptance policies and tax rules change, and your facts may differ from the general case. Rates and terms here are the provider's published figures rather than an offer, and the provider decides each application on its own criteria. Use this as a map, not a ruling. Last checked .
Tax

FATCA

FATCA makes UK banks report accounts held by US persons to the IRS. It is not a tax; it is a reporting trail. Where it bites is access.

 Tax

FBAR

If your foreign accounts top $10,000 combined at any point in the year, you file an FBAR. What counts, when it is due, and what happens if you miss it.

 Tax

ISA US tax

The IRS does not recognise the ISA wrapper. Cash ISA interest and stocks ISA gains are taxable on your US return, and fund holdings drag in PFIC rules.