Here you can find answers to questions about our products and services.
Frequently Asked Questions
Using the App
Other Useful Information
Can I reopen my Param account?
No, once you close your Param account, you can not reopen it again.
Do I have an IBAN?
No, currently we can not provide you with an IBAN.
Can I make a CHAPS payment?
Currently, you can not make CHAPS payment.
Can I easily send money to other Param account holders?
Yes you can and it takes only a few seconds.
Can I recieve international payment?
Currently you can only receive money from accounts held in other UK banks and you can also add money to your account with your UK debit or credit card.
Which countries can I send money?
Currently you can send money only to Turkey. We will let you know when there are more countries.
Which currencies can I send money?
You can send money only from £ account to Turkey. The person you are sending money receives the money in their local currency (Turkish Lira).
How do you notify me about a transfer?
When a money comes in and goes out we send you push notification if your notifications are turned on. We reccomend you to keep the notifcations on.
Can I have more than one personal account?
No, you can only have one personal account with Param UK.
Which payments can I make by using Param?
Faster payments within the UK and internationals payment to Turkey.