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Product focus: Packaged current accounts

Product focus: Packaged current accounts

Category: Banking

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

MONEYFACTS ARCHIVE
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 It is now over 6 months old so the content may be out of date.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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