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.

5 results found, sorted by highest interest rate. How we order our comparisons.
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Switch to Santander and receive £130. T&Cs apply.
Santander 123 Current Account
Account fee & requirements
£4 per month, pay in £500+ per month
Arranged overdraft
39.94% EAR variable
Interest rate
0.3% AER (on up to £20,000)
Account benefits
Preferential savings & unsecured loans rates
£130 cashback when you complete a full switch to a Santander 123 Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply.
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
£10.3%0.3%0.3%0.3%
£20,0010%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
Access to a Monthly Saver paying 2.00% Gross/AER fixed for a year. Interest is paid on maturity, save £25 to £125 per month by standing order from your TSB current account.
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
Receive £100 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
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 2018.
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
Switch to Santander and receive £130. T&Cs apply.
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
£130 cashback when you complete a full switch to a Santander 123 Lite Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply.
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 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
Savings Pots, Save the Pennies and Auto Balancer features. Access to a Monthly Saver paying 2.00% Gross/AER fixed for a year. Save £25 to £125 per month by standing order from your TSB current account. Interest is paid on maturity.
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

Compare another type of current account

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.

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 much the benefits are worth moneywise, but also how important they are to you as an individual to have.

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).

Are packaged bank accounts with travel insurance a good idea? What about bank accounts with phone insurance?

They're not a bad idea, but it depends what deal you're being offered, and whether you already have those such policies.

For bank accounts with travel insurance or bank accounts with phone insurance, you should work out if they're cost effective. Follow these simple steps:

  • Multiply the monthly bank account fee by 12, to get an annual cost

  • Then look at whether you can buy the insurances for less than that

  • If you can't, you'll know the bank account is offering a good deal. If you can, it might not be such a great deal.

Most of the time, bank accounts with travel insurance or bank accounts with phone insurance will offer decent insurance. So make sure you're comparing like for like. You may even decide that you don't need a premium insurance package, and that a standard policy that you buy separately would do you just fine.

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.

Can you get bank accounts with travel insurance for over 70s?

Yes, you can get bank accounts with travel insurance for over 70s. But if you're an older traveller, it's always a good idea to keep your eyes peeled in case of age restrictions.

Most packaged bank accounts will stop offering travel insurance to customers at some point between the ages of 64 and 79. This varies depending on which bank you use. Some packaged bank accounts even let you pay a bit extra to make sure your policy covers you until you're older. Talk to the bank about this option.

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

Compare packaged bank accounts

Our comparison table includes details for all the packaged bank accounts in the UK. For each one, it shows:

  • The monthly fee

  • Other requirements to hold the account (for example, some might say you have to pay in at least £500 per month)

  • The overdraft it offers

  • The interest rate you can earn on your balance.

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.

I've heard about the mis-selling 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, potentially by refunding your fees. If they're not, you can take your complaint to the financial ombudsman.

About our current accounts comparison

Who do we include in this comparison?

How do we make money from our comparison?

Last updated: 15 March, 2021

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