Which packaged bank accounts

Think about the way you run your account, for example, if you tend to use an overdraft from time to time, a standard account may save you money on fees and charges. Sharing a packaged account with someone you live with is a good way of getting more value from the account — all of the accounts in our table can be held in joint names, meaning two people can be covered under the one fee. Joint accounts aren't without risk — because you are both liable for any debts, regardless of who spends the money — and not all packaged accounts offer value for money.

These force providers to a check whether you are eligible to claim under each policy and make sure you know that information; b establish whether each policy is suitable for you and alert you if some aren't; and c provide you with annual eligibility statements prompting you to check if the policies still fit your needs. If you think that the features of the packaged account weren't explained properly, or the benefits didn't apply to your circumstances, you might have been mis-sold the account.

First, lodge a complaint with your bank or building society. Read more: how to reclaim fees for mis-sold packaged bank accounts. Financial Services Limited. Financial Services Limited is a wholly-owned subsidiary of Which? Limited and part of the Which? Money Compare is a trading name of Which? Money Compare content is hosted by Which? Limited on behalf of Which? In this article. Will your medical condition be covered?

Is it worth paying for a packaged account? Should you open a joint packaged account? Were you mis-sold a packaged bank account? Coronavirus COVID packaged bank accounts update The spread of coronavirus has resulted in considerable disruption to travel plans and changes to travel insurance policies, including those offered as part of packaged bank accounts.

Find up-to-date information on what policies cover at what coronavirus means for your travel insurance Find out more: what coronavirus means for your banking and insurance The Which? More info We have calculated its score assuming the account holder is opted into the free add-on 'Vantage'.

More info Earn 1. It may be cheaper to take out separate products and use a free account instead. A useful way for couples to add value is by opening a joint packaged account. That will usually give you both the included insurance but for the same fee. Packaged current accounts take a bit more thinking to get right. Will you be able to make use of all the services included?

Will you benefit by more than the monthly fee? Spend some time looking at the different perks on offer and find the one that suits your specific needs.

And take a look at cover levels and excesses too. Some mobile phone insurance policies have tiny cover limits which won't pay out enough to replace an expensive smartphone.

Although a packaged bank account can save you money, make sure you're clear on all the fees and charges associated with the account before you sign up. If you occasionally dip into your overdraft, some banks can be much more expensive than others. Equally, charges for using your card overseas can also vary considerably. These are unlikely to be flagged to you clearly while you're taking out the account - so make sure you do your own homework.

Getting a good deal is important when it comes to choosing a packaged bank account. But it's also worth looking for a bank that will treat you well after it has got you to sign on the dotted line. Packaged bank accounts offered by traditional banks offer better benefits and value for money than those from challenger banks, new Which? Here, we reveal which packaged accounts came out as best and worst in our analysis, and offer tips on what you should consider before signing up to any packaged account.