The Best Packaged Bank Accounts

Packaged bank accounts come with a monthly fee to cover all the insurance related benefits and extras and can be a good deal as long as you make use of all the individual elements.

Seeking out the best packaged current account isn’t always black and white, it’s about finding a deal that is most relevant to your needs and lifestyle.

Be sure to check the small print before you sign up – for example what’s the maximum age for travel insurance cover?, does the car breakdown insurance cover home start? and what’s the details of the mobile phone cover? – and of course are there any excesses to be aware of (especially on the mobile phone insurance).

The Nationwide Building Society FlexPlus still comes out on top when you look at the combination of price and comprehensive cover, however, please note that some of the benefits i.e. 3% credit interest and a free £250 overdraft are being withdrawn this November.

If you already have a packaged current account but find you’re not making full use of the add-ons it may be cheaper just to buy what you need as a separate insurance and save yourself a couple of hundred pounds a year in bank fees by switching to a standard bank account.

Five of the best packaged current accounts

Provider	Car Breakdown/Recovery Insurance	Travel Insurance	Mobile Phone Insurance	Other Benefits
Nationwide B S Flex Direct £13 Per Month	UK and EU breakdown and recovery Includes Home Assist	Worldwide Family Travel Insurance Max age 69	Worldwide Family Mobile Phone Insurance Covers whole family living at home address	• 3% credit interest up to £2500 balance* • First £250 overdraft free*
Halifax Ultimate Reward £17 Per Month**	AA Breakdown cover including Home Start UK only	Worldwide Family Travel Insurance through AXA Max age 70	Insurance via Lifestyle Services Group Covers account holder only – 2 phones if joint account	• £300 free overdraft • Home Emergency Cover
First Direct First Directory £15 Per Month	RAC Motor breakdown including cover at home UK and EU	Worldwide Family Travel Insurance through Aviva Max age 69	Insurance via Aviva Covers account holder only – 2 phones if joint account	• No cash withdrawal charges on debit card when used abroad
Co-Operative Bank Everyday Extra £15 Per Month	RAC Motor breakdown including cover at home UK and EU	Worldwide Family Travel Insurance through AXA Max age 79	Insurance via Lifestyle Services Group Covers account holder only – 2 phones if joint account
NatWest Reward Platinum £20 Per Month	Green Flag car Insurance UK only and no cover for breakdown at home	Worldwide Family Travel Insurance through UK Insurance Limited Max age 69	Insurance via Aviva Covers account holder only – 2 phones if joint account	• 2% cashback on all household bills paid by direct debit • Fee free purchases on Debit Card Transactions Abroad • 40% off Cinema Tickets
Research from provider websites 06.08.2019 *Monthly fee reduced to £15 if £750 paid in and 2 direct debits each month Nationwide BS – Benefits being withdrawn in November