Reply With QuoteSantander 123
1.5% up to £20k max, cash back on Utilities, council tax and Sky etc. £5 monthly fee.
On average, if you have Sky or Virgin, you should net £25pm.
Had a letter through the post informing me of some changes to benefits I receive as part of my Halifax Ultimate Reward Current Account. Monthly fee will be going upto £17 per month but £14 per month for those who deposit £750 a month or more and have atleast two direct debits per month. So my yearly cost will be £14 x 12 months = £168. For this £168 I get;
1) AA membership for me and the wife, just basic call out, no homestart or onwards travel.
2) Mobile phone insurance (used to be £30 excess for android claims, £50 for iphone repair and £100 for iphone lost/stolen. the changes they have just informed me about states that there will be a flat excess fee of £100 from now on regardless of phone or claim)
3) Worldwide travel insurance for family and I.
4) £250 Home Emergency cover (something goes wrong they will send someone out and cover the cost for up to £250, the rest I pay.
5) £300 interest free overdraft
In addition to the £168 I pay, I pay an additional £70.16 to the AA for homestart and onward travel. so im paying a total of approx. £240 for all this.
does that sound reasonable, is there another account that does better? Or should I get a regular account and buy the insurance policies individually etc?
We use the travel insurance for foreign travel once every two years, my mobile phone is £140 new so wouldn't use the policy but my wife has an iphone so may, AA is as and when needed.
Santander 123
1.5% up to £20k max, cash back on Utilities, council tax and Sky etc. £5 monthly fee.
On average, if you have Sky or Virgin, you should net £25pm.
Cost out the benefits included in that account. In ££s
Be tough not lenient on the costings
Then ask yourself which of them you really want or need. Not luxuries but needs. Watch out for double insurance eg policy for gadgets, which are already covered on the home contents policy.
Then strip down the account to what you really want and see the cost vs 12months at £14/month
There's nothing worse than taking on a bundled item, when it contains loads of stuff you don't want. Why do you think they're bundled in? Perhaps nobody wants them
I have Santander 123, which isn't a bundle and is only £5/month.
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Of the 5 benefits – how many of them would you definitely buy at the level that they are being offered (if they weren’t included with your account?)
Get quotes for these items only
If the sum of these comes to MORE than £240 – you are getting good value.
Personally I don’t have an account that gives rewards andout of the list you show, I have:
- Breakdown cover ( greater than the cover shown in your post)
- Travel Insurance (family, annual – varies on cover (Global /European) depending on planned holidays)
Cheers
Santander 123
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Nationwide FlexPlus. £13 per month and the breakdown cover includes roadside assistance and onward travel.
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I can see fee paying accounts being the next ppi scandal.
I claimed my Gold account fees back from Lloyd’s, £3.5k (£1.7k was interest).Originally Posted by ray_li30
Worth a go if you can prove it.
My wife had her account hacked and had an Ombudsman complaint upheld so I think that helped.
Did it through Resolver, all done in 3 weeks with just two quick phone calls.
Rob
Went for this as it was best rated bundle account I could find….
Mobile phone for the whole family
Travel insurance
Plus fee free ATM withdrawals abroad
Also have the Nationwide one - Martin Lewis regularly quotes that one as good as any.
Another vote for the Santander 123 here, though it was better with 3% on balances of £20k (until less than a year ago....)
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Santander 123 for me too. Nets back over £25 per month.
Check the details of the insurance. I had the first direct bundle a few years back, thought it was great until I had to claim on the travel insurance and found it next to useless.
Nationwide FlexPlus as well.
If you have a joint account, you both get all of the benefits (for the same monthly fee). If you’re wondering if it’s worth the price, try getting an annual quote for European breakdown cover for 2. It then becomes a no-brainier.
(If you get a friend to transfer their account across, then you both get something like £100 - this makes their first year even better value).
I pay Ulster Bank (RBS) £26 per month for U-first Private Current Account membership and get Airport Lounge Access for my wife and myself (Priority Pass) which I had been paying for myself before Ulster Bank offered this - this is worth £520 on its own - interest free overdraft of £1,000 and the usual benefits offered by these packages such as worldwide travel insurance and mobile phone insurance. The Priority Pass benefit makes it very good value for money
As I have the FD package (and always assumed it would be ok), I'd be interested to know why/how the FD insurance is no good?
Our joint account is with Nationwide for the travel insurance. Not seen any fee paying account where the fee is less than the cost of the benefits I'd use
Not an account but I’ve just took out an Amex Gold card. Only reason I got it is that you get a free flight or £100 cashback if you spend £2k on it in the first three months (cruise balance due soon so that will more than cover it) plus two free visits to an airport lounge for two people. There’s other benefits too but I probably won’t use those. Free for the first year, £140 per year after that so I won’t be having the second year and will be cancelling it after my second lounge visit!
I've not had the letter yet, but I think I will change to nationwide when I do.
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