Packaged bank accounts charge a monthly fee but bundle valuable perks like travel insurance, breakdown cover, and mobile phone insurance into a single account. For the right person they can represent excellent value — but only if you’d genuinely use what’s included. Fees and benefits change fairly often, so the figures below are current as of September 2026 — always check the provider’s own page before applying.
This page is part of the Packaged Bank Accounts UK guide, which covers how these accounts work, how to calculate their value, and what to do if you were mis-sold one.
How Packaged Accounts Work
| What You Get | What You Pay |
|---|---|
| Travel insurance | £0–£25/month (most bundled accounts £15–£25; a few high-earner accounts are fee-free) |
| Breakdown cover | (£120–£300/year) |
| Mobile phone insurance | |
| Car hire excess cover | |
| Other perks vary |
The key question: would you pay for these benefits separately?
Best Packaged Bank Accounts Compared
| Account | Monthly Fee | Annual Cost | Key Benefits |
|---|---|---|---|
| Nationwide FlexPlus | £18 | £216 | Worldwide travel insurance, breakdown, phone |
| Club Lloyds | £3 (free if £2,000 deposited monthly) | £36 (or £0) | Lifestyle benefits, 6 cinema tickets/year |
| Lloyds Platinum | £22.50 | £270 | Premium travel insurance, breakdown |
| Halifax Ultimate Reward | £19 | £228 | Travel, home emergency, phone |
| Santander Select | £5 | £60 | Travel, breakdown, phone, cashback offers |
| Barclays Premier | £0 (no monthly fee) | £0 | Preferential rates, dedicated support — travel/RAC/gadget insurance available as paid add-ons |
| NatWest Reward Platinum | £22 (rising to £23 from 1 Oct 2026) | £264 (£276 from Oct 2026) | Travel, breakdown, tech, phone |
Nationwide FlexPlus
| Feature | Details |
|---|---|
| Monthly fee | £18 |
| Travel insurance | Worldwide, family cover |
| Breakdown cover | UK & European |
| Phone insurance | Up to £2,000 |
Value Calculation
| Benefit | Standalone Cost |
|---|---|
| Family travel insurance | £80–£150/year |
| Breakdown cover | £60–£120/year |
| Mobile phone insurance | £80–£150/year |
| Total standalone | £220–£420/year |
| FlexPlus annual cost | £216/year |
Potential savings: £4–£204/year if you’d use all benefits — the margin is much tighter than it used to be now the fee has risen, so it’s worth checking you’d genuinely use most of the benefits.
Who It Suits
- Families who travel abroad
- Drivers without existing breakdown cover
- People with expensive phones not already insured
Club Lloyds
| Feature | Details |
|---|---|
| Monthly fee | £3 (free if £2,000 deposited monthly) |
| Interest on balance | 0.75% AER on £1–£3,999.99; 3.00% AER on £4,000–£5,000 |
| Lifestyle benefits | Choose one per year |
| Cinema tickets | 6 per year |
Lifestyle Benefit Options
- 6 cinema tickets
- Magazine subscription
- Coffee subscription
- Gourmet Society membership
Value Calculation
| Benefit | Approximate Value |
|---|---|
| 6 cinema tickets | £60–£90 |
| Interest on £5,000 (blended tiered rate) | ~£60/year |
| Potential value | £120–£150/year |
| Annual cost | £36 (or £0) |
Good value if you can deposit £2,000/month to waive the fee — note the credit interest rate is lower than some past marketing suggested, so the cinema/lifestyle perk is the bigger draw for most people.
Halifax Ultimate Reward
| Feature | Details |
|---|---|
| Monthly fee | £19 |
| Travel insurance | Worldwide, family |
| Home emergency cover | Included |
| Phone insurance | Up to £2,000 |
| Car hire excess | Included |
Value Calculation
| Benefit | Standalone Cost |
|---|---|
| Family travel insurance | £80–£150/year |
| Home emergency cover | £50–£100/year |
| Mobile phone insurance | £80–£150/year |
| Car hire excess insurance | £30–£50/year |
| Total standalone | £240–£450/year |
| Halifax annual cost | £228/year |
Suits those wanting comprehensive home and travel protection.
Santander Select
| Feature | Details |
|---|---|
| Monthly fee | £5 |
| Travel insurance | Worldwide family travel insurance |
| Breakdown cover | UK and European |
| Phone insurance | Family mobile phone insurance |
| Cashback | On selected household bills, supermarkets and travel spend |
Requirements
- Pay in at least £500/month and hold two active Direct Debits (confirm current criteria with Santander, as eligibility conditions have changed)
At £5/month, Santander Select is now one of the cheaper packaged accounts with insurance bundled in — a significant change from its previous higher fee, so it’s worth a fresh look if you dismissed it before.
Barclays Premier
| Feature | Details |
|---|---|
| Monthly fee | £0 — no monthly fee |
| Travel insurance | Not included as standard — available as a paid add-on |
| Preferential rates | On mortgages, savings |
| Dedicated support | Premier phone line and relationship support |
Requirements
- Annual income £75,000+, OR
- £100,000 in savings/investments
Barclays Premier is not a traditional fee-based packaged account — it’s a free relationship-banking tier for high earners/high net worth individuals, with optional paid add-ons (travel insurance, RAC breakdown cover, gadget insurance) rather than bundled benefits included in a monthly fee.
Are Packaged Accounts Worth It?
For a full worked-out calculation with real examples, see Is It Worth Paying for a Packaged Bank Account?.
Worth It If You:
- Travel abroad at least once per year
- Have a smartphone worth £300+
- Don’t have existing breakdown cover
- Would buy these insurances anyway
- Have dependents to cover
Not Worth It If You:
- Rarely travel
- Have insurance through work
- Have an older/cheaper phone
- Already have breakdown cover with your car
- Won’t use most benefits
Packaged Account Calculator
| Question | Yes = +1 | Your Score |
|---|---|---|
| Do you travel abroad at least once/year? | ||
| Do you have a smartphone worth £300+? | ||
| Do you lack breakdown cover? | ||
| Would you use home emergency cover? | ||
| Do you have family members to cover? | ||
| Total |
Score 3+: Packaged account likely good value
Score 1–2: Check if specific benefits match your needs
Score 0: Stick with a free current account
What to Check Before Signing Up
Insurance Exclusions
| Common Exclusion | Details |
|---|---|
| Age limits | Travel insurance often stops at 65–75 |
| Pre-existing conditions | Medical conditions may not be covered |
| Trip length | Usually max 31–45 days per trip |
| Phone condition | Must be in good working order |
| Breakdown | May exclude vehicles over certain age |
Claims Process
Before choosing, check:
- How to make claims
- Excess amounts
- Claims limits
- Customer reviews for claims handling
How to Switch to a Packaged Account
- Compare accounts — Use this guide
- Calculate value — Will you use the benefits?
- Check eligibility — Some have income requirements
- Apply online — Most banks offer online applications
- Use Current Account Switch Service — Moves everything in 7 days
- Register for benefits — Some perks need activating after account opening
Downgrading or Cancelling
If you find you’re not using the benefits:
- Review usage — Have you made any claims?
- Contact your bank — Ask to downgrade to free account
- Keep cover until switch — Don’t cancel if you have trips booked
- Consider alternatives — Buy only the insurance you need
Summary
The best packaged account depends on your circumstances:
- Best overall value: Nationwide FlexPlus (£18/month)
- Best budget option: Club Lloyds (£3/month or free) or Santander Select (£5/month)
- Best for premium benefits: Halifax Ultimate Reward (£19/month) or Lloyds Platinum (£22.50/month)
- Best for high earners: Barclays Premier (no monthly fee, income/savings-gated)
Always calculate whether you’d buy the included benefits separately — if the standalone cost exceeds the monthly fee, a packaged account could save you money.