Product focus: Packaged current accounts - Banking - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Product focus: Packaged current accounts

Product focus: Packaged current accounts

Category: Banking

Updated: 14/04/2011
First Published: 16/02/2011

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

In the last five years the number of fee charging current accounts has more than doubled, with many of the major banks on the high street having one or more options. In return for a monthly fee, customers receive a range of benefits such as breakdown cover, travel insurance and discounts at selected retailers.

The best account for you will depend on your circumstances; by making sure your find a current account with benefits you will use you won't end up paying money for nothing.

NatWest – Advantage Gold

  • For a monthly fee of £12.95 the Advantage Gold Account offers customers a range of benefits including: breakdown cover, mobile phone insurance, travel insurance, travel and shopping discounts and preferential rates on other products from the provider.
  • The account charges 19.49% EAR for an agreed overdraft, but no interest charges are payable on the first £100.

Santander – Reward Current

  • The Reward Current Account from Santander comes with a range of benefits including: breakdown cover, travel insurance, discounts at selected retailers and identity theft protection.
  • The account has a monthly fee of £10 per month and pays 5.00% AER interest on credit balances for the first year, after which 1.00% AER is payable.
  • Customers transferring their account to Santander are offered a fee free overdraft for the first four months, after which 12.9% EAR is payable.
  • A £100 switching incentive is offered to customers moving their account to the provider.

Barclays Bank – Additions Active

  • The Additions Active Account from Barclays Bank costs £15 per month.
  • The account offers a range of benefits including: breakdown cover, worldwide travel insurance, mobile phone insurance, extended warranties on electrical appliances and domestic emergency cover.
  • Overdrafts are charged at 18.3% EAR, but no interest charges are applied on the first £300.
Compare the best packaged accounts/ current accounts with benefits

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Debit card spending still leads the way

Many of us turn to plastic at the tills these days, particularly as contactless technology makes it easier than ever before. It’s little wonder that card spending continues to ramp up – and it’s debit card spending that’s leading the way.

Current account switching to be made even easier

It was announced today that the Current Account Switch Service (CASS) will be undergoing improvements that are to be implemented in a year’s time. This should help give more customers and businesses the confidence to switch to a better bank account.

A quarter of all card payments now contactless

The rise of contactless payments shows no signs of stopping, with new milestones being hit on a seemingly monthly basis. Well, another one has arrived, with new data showing that a quarter of all card payments are now made via contactless means.