Compare packaged current accounts

Compare packaged accounts that could save you money by including things like mobile phone cover and travel insurance for just a small monthly fee.

  • Compare current accounts from trusted bank providers
  • Earn cashback and rewards
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Compare packaged current accounts from leading providers

You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.

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Fist direct logo
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Royal bank of scotland
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How to compare packaged current accounts

1

Compare bank accounts

Use our bank account table to find one that offers all the features you need that will cost the least in fees.

2

Check the eligibility

Make sure you fit the eligibility criteria for your chosen current account and have proof of ID.

3

Apply for the account you want

Click 'view deal' and fill out the application form on the provider's website with your personal details.

4

Start using your current account

Once your application has been approved, start using your new current account.

Packaged current account deals

7 results found, sorted by highest interest rate. How we order our comparisons.
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Switch for 20K Virgin Points + cashback. T&C apply.
Virgin Money M Plus Account
Account fee & requirements
No monthly fee
Arranged overdraft
19.9% EAR variable
Interest rate
2.02% AER (on up to £1,000)
Account benefits
Preferential savings rates
Virgin Money M Plus Account
Switch to the M Plus Account and receive 20,000 Virgin Points to redeem via Virgin Red to spend on a wide range of exciting rewards, ranging from everyday treats to flights to New York. Terms apply.
Cashback on everyday spending. Terms apply. Earn interest of 2.02% AER/2.00% Gross (variable) on your current account balance up to £1,000. Also earn 1% AER/Gross (variable) on your easy access linked savings account balance up to £25,000.
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 19.9% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£12%2%2.02%2.02%
£1,0010%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Receive £150 for switching. T&Cs apply.
First Direct 1st Account
Account fee & requirements
No monthly fee
Arranged overdraft
£250 interest free, then 39.9% EAR variable
Interest rate
0% AER
Account benefits
Preferential savings & unsecured loans rates
First Direct 1st Account
To qualify, switch using the Current Account Switch Service, deposit £1000 within 3 months of account opening.  New customers only that have not opened a HSBC account on or after 1 Jan 2019.
Representative Example: £250 interest and fee free overdraft, subject to status. If you then use an arranged overdraft of £1,200 you will be charged 39.9% EAR variable. Representative APR: 30.5%.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
NatWest Select Account
Account fee & requirements
No monthly fee
Arranged overdraft
39.49% EAR variable
Interest rate
0% AER
Account benefits
Preferential savings & unsecured loans rates
NatWest Select Account
To apply you need to be 18+ and a UK resident. No monthly fee. Over 18s only and account eligibility criteria applies.
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 39.49% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
Santander 123 Lite Current Account
Account fee & requirements
£2 per month, pay in £500+ per month
Arranged overdraft
39.94% EAR variable
Interest rate
0% AER
Account benefits
Preferential savings & unsecured loans rates
Santander 123 Lite Current Account
Earn interest and up to 3% cashback every month on selected Household bills paid by Direct Debit.
You’re over 18 and live in the UK permanently.
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 39.94% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Minimum Monthly Credit£500
Permanent UK Resident
TSB Spend & Save
Account fee & requirements
No monthly fee
Arranged overdraft
39.9% EAR variable
Interest rate
0% AER
Account benefits
Preferential mortgage & savings rates
TSB Spend & Save
Earn up to £30 cashback - £5 per month for 6 months, making 30 debit card payments per calendar month (direct debits/withdrawals excluded)*. Saving Pots, Save the Pennies and Auto Balancer features.
UK residents only, 18+.
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 39.9% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
Royal Bank Select Account
Account fee & requirements
No monthly fee
Arranged overdraft
39.49% EAR variable
Interest rate
0% AER
Account benefits
Preferential savings & unsecured loans rates
Royal Bank Select Account
To apply you need to be 18+ and a UK resident. No monthly fee. Over 18s only and account eligibility criteria applies.
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 39.49% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
TSB Spend & Save Plus
Account fee & requirements
£3 per month
Arranged overdraft
£100 interest free, then 39.9% EAR variable
Interest rate
0% AER
Account benefits
Preferential mortgage & savings rates
TSB Spend & Save Plus
Earn up to £60 cashback annually: £5 per month, ongoing with 30 debit card payments per calendar month on opening a new Spend & Save Plus account or changing an existing TSB account. Interest-free overdraft up to £100.
UK residents only, 18+.
Representative Example: £100 interest and fee free overdraft, subject to financial status. If you then use an arranged overdraft of £1,200 you will be charged 39.9% EAR variable. Representative APR: 40.1%.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident

We are classed as a credit broker for consumer credit, not a lender.

Our services are provided at no cost to you. We may receive a commission from the companies we refer you to, but this does not affect what you will pay for the product you choose.

Compare another type of current account

What is a packaged bank account?

Packaged bank accounts and premier bank accounts come with one or more benefits.

The benefits of packaged bank accounts will vary in value. The 'value' includes how much the benefits are worth purely money wise, but also how important they are to you as an individual.

The best packaged bank accounts are the ones that meet your needs, but also offer good monetary value.

How to find the best packaged bank accounts

Our comparison table will help you to find the best packaged bank accounts available. It includes every one of the packaged bank accounts available in the UK.

It's always a good idea to work out how much the benefits would cost you to buy as standalone products. Do this before you commit to choosing one of the packaged bank accounts.

For example, packaged bank accounts with travel insurance can be great. But, if you've already bought an annual travel insurance policy, you might not need it.

What do bank accounts with benefits offer?

All packaged bank accounts are different, but some of the best packaged bank accounts could come with financial products like:

The very best packaged bank accounts can also include additional features like:

  • VIP travel packages

  • Having your own account manager at your bank.

The more benefits that packaged bank accounts come with, the more they're likely to cost.

Find out more about what you can get with a packaged current account

Are packaged bank accounts worth it?

Packaged bank accounts can be a cheaper option than buying the benefits separately. You can also cover several of your financial needs with just one account which can make things smooth and easy to manage.

But it's important to be aware that packaged bank accounts can also cost you more if the benefits are unsuitable or too expensive.

To find the best packaged bank accounts, there are a few things that are important to check, so that you don't end up with one that's unsuitable one for your needs.

Check that:

  • The fee costs less than buying the extra features separately

  • The account offers benefits you'll use

  • You don't already have the benefits it offers (for example, you might already have home insurance)

  • The insurance products on offer would pay out if you needed to claim

  • It offers all the other banking features you need (such as an overdraft or online banking.

Read more about whether packaged current accounts are worth the cost?

Bank accounts with travel insurance

As with any travel insurance, it's important to declare any pre-existing medical conditions. If you don't, you could invalidate the policy.

It's also a good idea to check whether bank accounts with travel insurance are offering protection against coronavirus. And it's worth checking if you get winter sports protection, too.

Bank accounts with phone insurance

You should be aware that some bank accounts with phone insurance limit your claims to one or two per year. Check the small print carefully.

The same applies to breakdown cover - some banks restrict how many call-outs you can make a year.

Florence Codjoequotation mark
It's important to be aware that packaged bank accounts can also cost you more if the benefits are unsuitable or too expensive. Make sure you're actually making a saving, otherwise a packaged account may not be for you.
Florence Codjoe, Personal Finance Editor

Can you get joint packaged bank accounts?

You can, and these can be an excellent idea. Often, you'll get the perks for all the account holders for just one fee. This can make the account much better value, so it's worth looking into.

Don't forget that if you have a joint packaged bank account, you'll both be liable for any debts accrued on the account.

Pros and cons of packaged current accounts

  • Peace of mind because you’re fully insured 12 months a year

  • One straightforward monthly fee

  • Don’t need to purchase insurance separately every time you travel

  • High-end cover levels

  • You may not need all the benefits, in which case it isn’t great value for money

  • Other accounts may offer better rewards, such as interest on your balance

There's a history of packaged bank accounts. What should I look out for?

There are rules about how insurance should be sold as part of packaged bank accounts. For example, banks have to check:

  • Whether you're eligible to claim under the policies

  • Whether the policies are right for you

  • That you understand and are aware of what you're signing up for.

Providers of packaged bank accounts are obliged to provide clear and unambiguous information. If they haven't done that, you might have been mis-sold.

If you think you've been mis-sold a packaged bank account, the first step is to speak to your bank. Send them a letter or email them. They may be willing to make things right by refunding your fees. If they're not, you can take your complaint to the financial ombudsman.

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Why compare current accounts with money.co.uk?

Comparing current accounts could save you money on overdrafts, get you cashback on bills or see you paid more interest on positive balances. Our multiple award-winning comparison service helps make sure you get the best deal possible based on your individual circumstances. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.

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Last updated: 12 May, 2022