Best Packaged Bank Accounts

Packaged current accounts offer insurance protections, such as those for car breaks, travel, and mobile phone use, into a single monthly premium.

Using our guide, you can determine which bundled accounts are the most beneficial in terms of insurance quality, price, and other features. The contrasted accounts below provide:

• Annual family coverage for travel anywhere in the world, including winter sports (with certain restrictions).
• Assistance for vehicles in need, including towing, jumpstarting, and recovery around the country. 
• We have also highlighted those that will take care of you in Europe, whether by paying for repairs or providing transportation and lodging alternatives.

At a Glance, Pros and Cons

Let’s look into the pros & cons of the UK’s top packaged bank accounts?

Pros

✅ Costs less than purchasing reward items like insurance individually.

✅ Most bundled accounts allow both joint account holders to share in the advantages.

✅ Having ancillary services and banking needs met by a single vendor eliminates the hassle of shopping around.

Cons

❌ Monthly costs — which is a drawback only if you don’t use your features.

❌ May be coverage gaps in your insurance to to look into.

❌ If the optional items can be found elsewhere for less money, it may not be a good deal.

❌ Stringent restrictions for certain premium packaged bank accounts (such as a high income or pay-in threshold).

Top packaged bank accounts — Reviews

Why do certain banks offer “bundled” checking and savings accounts?

Simply put, a packaged bank account is a type of current/checking account that comes with additional perks and services. Travel insurance, car breakdown coverage, and mobile phone protection are common examples.

Access to airport lounges, concierge assistance, discounts at local retailers, and cash back on purchases are just a few of the additional benefits offered by some of the more expensive plans.

However, this does not come without cost. It is common practice to charge a regular price for access to a bundled account's features. If you put in the time to make advantage of every feature, this may be a bargain. A regular checking account may serve you better otherwise.

Eligibility 📓

Banks employ the same customer-desirability evaluation processes for packaged accounts as they do for regular accounts, including the use of credit scores.

Overdrafts need the standard procedure of a credit check. Check out this link on Credit Scores if you want to learn more about how this works and what info creditors look for.

1. Revolut Metal — Top digital packaged account

To acquire what amounts to a bundled account, sign up for Revolut's “Metal” plan. It is a mobile-first checking account and debit card for £12.99 per month.

Also, many other options, such as coverage for emergency medical care anywhere in the world, ski trips, the excess on a rental vehicle, lost bags, and legal liabilities are all part of a comprehensive travel insurance policy.

Visit Revolut

Basics of insurance

• Lounge access at airports at a discount.
• Converting currencies is free and there is no use limit.
• Exchange costs for cryptocurrencies and commodities, plus preferential savings rates.
• Unique metal card set.
• The new Ultra plan, Revolut's most costly and feature-rich account, will cost £45 per month when it launches.

2. The Co-operative Bank Everyday Extra — All-around packaged bank account

The ‘Everyday Extra' bundled account from The Co-operative Bank came in at a respectable 79% in one top consumer-based evaluator survey.

A free ‘Everyday Rewards' program is available to customers who meet the following monthly requirements: deposit £800, make four debit card purchases, get paperless bills, not go over their agreed overdraft limit, and use mobile or internet banking.

Visit The Co-operative Bank

The Co-operative Bank is ranked higher than Nationwide (ranked second) due to the fact that there is no travel claims excess with the former, whereas the latter requires you to pay £50 initially of most claims.

However, each provides yearly coverage for visits all across the world (including the United States). Coverage extends to include spouses, children, and parents who share the same residence.

Covid-related claims are adequately covered by the policy offered by the Co-operative Bank. This includes emergency medical coverage in the event that you contract Covid while on holiday, claims in the event that you test positive for Covid and are forced to cancel your flight, and claims in the event that you must self-isolate.

However, Nationwide has the best ‘complete' rating for Covid security. The Foreign, Commonwealth, and Development Office has issued a travel advisory against your destination due to Covid or other regional or national limitations on mobility after you planned your trip, so you may also file a claim for cancellation if you are unable to do so.

However, if you are interested in heli-skiing or ice hockey, you will need to purchase Nationwide's “Hazardous Activities Upgrade”, even if most winter sports are covered by default (up to age 64 only at The Co-operative Bank).

Basics of insurance

• 49% of customers say they are “very satisfied” with the service they received.
• Account holder protective case for mobile devices.
• Unlimited family coverage worldwide (up to age 79).
• Account holder(s) are covered for breakdowns in the UK and Europe.

Extra details

Using Coop, AXA provides international travel insurance — possibly even for things like heatwaves — that protects you and your travelling companion, any children under the age of 22, and any grandchildren under the age of 18.

In addition to covering things like winter sports, lost baggage, personal accidents, emergency medical expenditures, UK holidays, missing flights, and more, there is no deductible to pay out of pocket.

You can also get insurance for your mobile phone anywhere in the world for up to £1,000 (other electronic equipment in your household are not included). Claims are subject to a £75 deductible, however.

Roadside assistance, vehicle rental for up to three days, and alternative transportation are all part of the RAC's breakdown service, which is available in the United Kingdom and across Europe. When you satisfy monthly requirements, you can enroll in Everyday prizes and get prizes for yourself or a charity of your choice.

3. Nationwide ‘FlexPlus' — Second-best packaged account

For many years, we’ve seen Nationwide‘s FlexPlus account recommended. In a recent evaluation, it again came out on top, bragging the lowest monthly price-tag (£13).

The building society eliminated some features in 2019 that made the account more attractive, such as an interest-free overdraft of £250 and 3% interest on balances up to £2,500.

Visit Nationwide

Customers over the age of 65 now have to pay £65 to update their accounts, while the maximum age for travel insurance has been lowered from 75 to 70. Despite these modifications, it continues to be our go-to “all-arounder” insurance policy since it provides protection across all three of the most important insurance categories.

While The Co-operative Bank limits you to two claims per year for one mobile phone per account holder up to the value of £1,500, Nationwide enables you to make four claims per year for phones owned by you or your family members up to a value of £2,000 each.

In the event of a lost, stolen, broken, or malfunctioning phone, both policies have you covered. Nationwide offers excess amounts from £50 (broken/damaged) to £125 (for stolen/lost Apple devices), whereas The Co-operative Bank has a fixed charge of £75.

As for roadside assistance — this package provides unlimited roadside assistance both at home and in Europe, regardless of who is driving or riding shotgun. Two cars may be insured under a single joint account.

Coop vs Nationwide: The Co-operative Bank provides comparable coverage, with the exception that their limits for alternative transportation/accommodation and call-outs are £150 per person (or groups are £500, whatever is less).

Basics of insurance

• Costs £13 per month (£156 per year).
• No minimum investment.
• Overdraft fee (variable) 39.9% EAR.
• Overdraft credit line (upon request).
• Flex Instant Saver account access and other premium savings options. And get up to £125 for switching over. 

Extra details

Coverage for winter sports, golf, business holidays, and even weddings abroad are all included in this all-inclusive, worldwide policy for the whole family. However, those over the age of 70 or with pre-existing medical problems may not be eligible for coverage in the event of a cancellation, delay, or medical expenditure.

Protection for you, your spouse, and your dependant children's mobile phones anywhere in the world in the event of loss, theft, damage, or malfunction. Up to £2,000 per gadget is included in insurance.

The AA provides breakdown assistance across the United Kingdom and Europe with no service limits or deductibles. 

4. Virgin Money Club M — Excellent packaged bank account for family holidays

If you are thinking about signing up for a Club M account, here's everything you need to know about the benefits and how we have rated them.

This account is good for international family travel insurance. Please refer to Virgin's insurance policies for all coverage information.

Visit Virgin Money

Special Tip 📓: The policy covers winter sports, weddings, and golf, and it provides for an unlimited number of international travels. Even if it is not a joint account, you and your spouse up to age 75 are covered, as are up to four dependent children under the age of 18 who reside with you or attend full-time school at the same location. 

We were able to get equivalent family coverage elsewhere, but it was roughly £110 per year more expensive and did not include winter sports or golf.

After opening an account with Virgin, customers with pre-existing medical conditions may be subject to additional fees or even be denied coverage if they do not contact AIG, the insurer Virgin employs.

How about coronavirus coverage? If you or a travelling companion test corona-positive and are subsequently forced to cancel your trip, your insurance will reimburse you for the cost of the trip (assuming you did not have the virus or were being tested for it at the time of booking). 

If you get coronavirus while you are travelling and end up needing emergency medical care, those expenses will be reimbursed as well, unless you were already infected with Covid-19 before you left.

Unless the Foreign Office issued a travel advisory barring all or all but necessary travel to your location between the time you booked your trip and the time your trip was scheduled to begin, you will be reimbursed if you are forced to cut your holiday short due to coronavirus.

Basics of insurance

• 41% of customers say they are “very satisfied” with the service they received.
• Coverage for all the electronics in the house.
• Insurance for the whole family, wherever in the world (up to age 74).
• Account holders in the UK get breakdown assistance.

Extra details

Coverage for several trips with the family all around the world, from winter sports to golfing to international nuptials. Access to a doctor, either locally or internationally, at any time. Up to two adults and four minor children are covered.

Reservations and transportation arrangements are made easier with the help of the concierge service. Coverage for your laptop, tablet, camera, and phone against loss, theft, and accidental damage, no matter where you are in the globe.

Emergency roadside assistance in the United Kingdom, anytime of day or night.

All of this, with one of the lowest monthly costs on our list, for only £12.50. The account may be maintained using the website, the mobile app, and physical Virgin Money locations.

5. Halifax Ultimate Reward — Great for home emergencies

If you currently pay for home emergency protection and know you will use the other insurances (as much as £400 annually), the Halifax Ultimate Reward is a good choice. Not as good for families as Co-op since only account holders get phone coverage.

The monthly fee is £17, but new customers receive £100 off and £25 back if they spend £750 or more in September-November. You may get £5 monthly payback if you are ready to go through some hoops. Get familiar with the whole award and bonus details.

Visit Halifax

As for international family holiday insurance — it covers winter sports and golf and allows for repeated journeys across the globe of up to 31 days each. The plan covers you and your spouse up to age 71 (or up to age 25 if they are still in school full-time), as well as any dependent children. 

Unaccompanied minors are not insured. Each adult has a £75 excess (their share of the cost of a claim) to pay. We were able to get equivalent family coverage for as little as £110 per year elsewhere; but, if any family members are 65 or older, that rate would increase.

When opening an account with Halifax, be sure to disclose any pre-existing conditions you or your insured dependents may have. You may be subject to a medical examination, which might result in your pre-existing condition either not being covered or in you having to pay a higher premium.

And regarding insurance for mobile devices — your phone (and the other account holder's, if you have a shared account) are protected up to £2,000 in the event of theft, loss, damage, or failure. All mobile devices have a £100 deductible.

Two claims per account holder per calendar year are permitted if both are valid. Mobile phone insurance of a similar kind costs between £80 and £100 annually. For a couple sharing an account, it is upwards of £200.

Basics of insurance

• Over half of customers think the service they get is exceptional.
• Account holder protective case for mobile devices.
• Family worldwide travel insurance (up to age 70).
• Account holders in the UK get breakdown assistance.
• Care for home emergencies.
• Monthly incentives include a £5 deposit into your account, a single movie ticket, or three issues of digital magazines.

Extra details

Bonus Saver Accounts, Individual Savings Account Reward Bonus Saver Accounts, and Family Boost Mortgages are all available via this exclusive offer. Get discounted foreign exchange for holidays. Coverage for up to nine members of your family, including coverage for winter sports and golfing excursions.

The Halifax Cashback Extras program offers rebates of up to 15% on qualifying purchases.

overdraft credit line (upon request). Assistance with mechanical issues, both on the road and in the comfort of one's own home, provided by the AA in the United Kingdom.

Your mobile phone is protected up to a maximum value of £2,000 in the event of accidental damage, malfunction, loss, or theft.

Coverage for unforeseen home emergencies up to £250 per claim.

6. Citigold International Family Travel Protection — Popular for families

Get free trip insurance all over the world, but you will need to retain a sizable balance to avoid paying any fees.

Those under the age of 79 may benefit from the worldwide family travel insurance included with the Citigold Current Account.

In addition to your free pound account, Citi also provides you with a free USD account and euro account, and you may make fee-free transfers between your Citi accounts.

Visit Citi

You and your spouse are protected up to your 80th birthdays with this travel insurance, and you may enjoy winter sports for up to a month each trip or 90 days in a year. Travelling with the holder or a verified adult, coverage is provided for unmarried minor children under the age of 18 (or under the age of 23 if still in full-time study).

It is important to verify coverage for pre-existing conditions before booking any trips. Unless the Foreign Office has issued a travel advisory barring all but necessary travel to your location, your policy will cover emergency medical expenses incurred abroad if you get coronavirus and require treatment.

Basics of insurance

• No monthly charge (or £75 if your Citi UK balances fall below £150,000).
• Use a single debit card to access several currency accounts.
• International wire transfers with no fees.
• Coverage for winter sports activities is included in this yearly, worldwide policy for the entire family.

7. Monzo Premium — Popular mobile-first packaged bank account

The Monzo Premium account gives you a mobile-first checking account and many additional features for £15 per month.

What you receive includes protection against theft, loss, and damage (including broken screens) for mobile phones up to £2,000. However, there is a £75 excess charge.

Visit Monzo

For this, you get standard coverage for a family of four anywhere in the world, including cancellation, medical expenses, snow sports, and lost or stolen items (subject to a £50 deductible). You need to be between the ages of 18 and 69 to open this account, and there is a 6-month minimum commitment.

Basics of insurance

• Lounge access at airports at a discount.
• Up to £2,000 in balances get a 1.50% AER.
• Foreign ATM withdrawals of up to £600 are fee-free.
• The first and only white metal Monzo card.

Top packaged bank accounts — Buying Guide

Let’s explore these services further as a topic. 

How do bundled accounts work?

If you want to save money and time on insurance, a packaged account may be the way to go. Just make sure you understand the fine print. 

Age limits

Travellers above the age of a certain threshold should plan accordingly. The typical maximum age covered by a tourist's insurance is between 69 and 80. 

Those over the age of 70 may still get insurance via RBS/NatWest and Nationwide, but they will have to pay a premium. The fee is £75 at RBS/NatWest and £65 for Nationwide, however only one fee is required for joint account holders. Whether or if your pre-existing conditions are covered, you must still report them.

Illnesses & injuries

For older or sicker travellers, purchasing separate travel insurance may be too costly. However, before deciding on a financial institution, you should be aware that pre-existing issues (PEMCs) are not always insured. 

If you have any of these conditions, you must disclose them at the time of account opening or you may be subject to additional fees or reduced coverage.

Any significant changes to your health status should be reported to your insurer so they can re-evaluate you for coverage (and maybe increase your premium).

Fine print on claims

Nationwide and Barclays are more liberal than other banks when it comes to mobile phone insurance, covering up to four claims per year and just covering the phone itself. Coverage under the Barclays Tech Pack is limitless for devices up to £1,500 in price, including up to four mobile phones. 

It covers an infinite number of repairs or replacements, four replacements for lost or stolen phones, and four replacements for any other kind of electronic device. You and your family members at the same address are covered if you have more than one phone with Nationwide.

Inquire more as to whether online smartphone registration is required in order to get the advantages promised by your bank.

Car breakdown insurance

Only NatWest/RBS, HSBC, and The Co-operative Bank limit the number of breakdown assistance visits you may make per year at five. The lowest-rated financial institutions (including Halifax, Bank of Scotland, Lloyds, and Virgin Money) will not pay for a replacement vehicle or provide lodging while yours is being repaired.

Travel insurance from Covid

Do not expect that Covid-19-related occurrences, including trip cancellation, will be covered by your travel insurance. For claims linked to Covid, we have determined that all of the banks included in our bundled account table provide at least “superior” coverage. That is right, you may file a claim for:

• If you get Covid while travelling, get immediate medical attention.
• Trip cancellation if pre-trip drug test is positive.
• Cancellation if you have been told to stay home alone after being recognized as a contact of someone who tested positive for the disease.

Leading packaged bank accounts: The Verdict

Was a packaged bank account offered to you in error?

Fee-based checking and savings accounts are subject to regulations designed to prevent the improper sale of insurance.

These mandate that your service providers a) determine whether you are eligible to make a claim under each policy and inform you of this fact; b) determine whether each policy makes sense for you; and c) offer you yearly eligibility reports so you can check if bills if policies still work for you.

Other red flags to keep an eye out for include:

❌ You enrolled without even realizing it. The only acceptable reason for a bank to do this without your permission is if they are switching all of their clients from a free account to a bundled account.

❌ If your circumstances change, such as when you reach the maximum age restriction to file a claim on travel insurancepolicy, your provider is obligated to advise you that you are no longer eligible to file a claim.

❌ In order to get the perks, you must first activate them. Verify this requirement at account opening; failing to do so may render your insurance useless, notwithstanding your payment of premiums. You may have a case if your insurance claim is denied and you were not given this information.

You may have been mis-sold a bundled account if you believe the features were not described adequately or the advantages were not relevant to your situation.

Make a formal complaint to your financial institution first. You have the right to pursue your Financial Ombudsman Service complaint if, after filing a formal complaint, you still think their final decision is wrong or if you do not hear from them within 2 months.

Related Guides:

• Best Bank Accounts for Travelling
• Best Charity & Community Bank Accounts
• Best Savings Accounts
• Using Your Halifax Credit Card Abroad