Best Premier Bank Account?

BenC_2
BenC_2 Posts: 57 Forumite
edited 13 July 2010 at 10:28PM in Budgeting & bank accounts
I am looking to change bank accounts and have been told that some banks offer premier accounts if you pay "x" amount of money per month. I have looked about and there are lots on offer, my question is, is it worth changing to a paying account to get the benefits and which accounts are the best?

I am currently paying for life/mortgage insurance (£25.99pcm), an annual bill for AA breakdown cover along with pet insurance (£10.99pcm) and phone insurance (£6.99PCM). I have been told I may be able to get these with a premier bank account so any help would be appreciated.

Thanks
Ben

Comments

  • JacksterD
    JacksterD Posts: 293 Forumite
    BenC wrote: »
    I am looking to change bank accounts and have been told that some banks offer premier accounts if you pay "x" amount of money per month. I have looked about and there are lots on offer, my question is, is it worth changing to a paying account to get the benefits and which accounts are the best?

    I am currently paying for life/mortgage insurance (£25.99pcm), an annual bill for AA breakdown cover along with pet insurance (£10.99pcm) and phone insurance (£6.99PCM). I have been told I may be able to get these with a premier bank account so any help would be appreciated.

    Thanks
    Ben

    Most banks do packaged accounts. Here's a rundown:

    It looks like you might save money by going for the Lloyds TSB Silver account, £3 a month for two months then £7.95 a month after that. Since you're paying £6.99 a month for phone insurance alone it's certainly worth a look.

    (This isn't a comprehensive rundown of each account, you should check each individual account to see which is best for you)
  • BenC_2
    BenC_2 Posts: 57 Forumite
    Thanks for the list I'll have a more in depth look today and see what the best option is :)
  • glider3560
    glider3560 Posts: 4,115 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Out of interest, how much is your mobile phone actually worth?
  • BenC_2
    BenC_2 Posts: 57 Forumite
    Its a new Blackberry Storm 2 so its alot of money
  • geordie_ben
    geordie_ben Posts: 3,118 Forumite
    Tenth Anniversary
    JacksterD wrote: »
    Most banks do packaged accounts. Here's a rundown:

    It looks like you might save money by going for the Lloyds TSB Silver account, £3 a month for two months then £7.95 a month after that. Since you're paying £6.99 a month for phone insurance alone it's certainly worth a look.

    (This isn't a comprehensive rundown of each account, you should check each individual account to see which is best for you)

    do you know if there is a comparison site or similar for premier accounts?

    I'm helping my friend with a debt free plan, she currently has Bank of Scotland Ultimate Reward Current Account but i'm not sure if its worth stepping away from and loosing the benefits, she pays £12.50 a month, but gets £5 reward so only really £7.50 a month
  • glider3560
    glider3560 Posts: 4,115 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    geordie_ben wrote: »
    do you know if there is a comparison site or similar for premier accounts?

    I'm helping my friend with a debt free plan, she currently has Bank of Scotland Ultimate Reward Current Account but i'm not sure if its worth stepping away from and loosing the benefits, she pays £12.50 a month, but gets £5 reward so only really £7.50 a month
    She could get the £5 per month without paying the £12.50. Look at the benefits and see what she actually uses and how much these would cost to buy separately.
  • emilyteach1
    emilyteach1 Posts: 113 Forumite
    BenC wrote: »
    I am looking to change bank accounts and have been told that some banks offer premier accounts if you pay "x" amount of money per month. I have looked about and there are lots on offer, my question is, is it worth changing to a paying account to get the benefits and which accounts are the best?

    I am currently paying for life/mortgage insurance (£25.99pcm), an annual bill for AA breakdown cover along with pet insurance (£10.99pcm) and phone insurance (£6.99PCM). I have been told I may be able to get these with a premier bank account so any help would be appreciated.

    Thanks
    Ben

    You probably won't get pet insurance, or proper life cover and almost certainly won't get mortgage insurance, but some accounts [even lesser than so-called Premier accounts] do have accidental death insurance.

    Santander's Premium account is £20 per month, and is eligible for their £100 cashback / 5% credit balance interest scheme:

    Annual worldwide family travel insurance – including winter sports;
    Health Benefits from AXA PPP healthcare;
    Green Flag breakdown cover in the UK - including national recovery and cover at home;
    Mobile Phone Insurance;
    Identity protection – including up to £50,000 of legal cover;
    Card loss assistance - help if you lose your card;
    Key protection and replacement cover;
    Legal Assistance;
    Online Will Writing Service;
    Airport Angel;
    Concierge;
    0% EAR overdraft on first £500 (depending on your circumstances);
    Commission-free travel money – free delivery (minimum order £300).
  • geordie_ben
    geordie_ben Posts: 3,118 Forumite
    Tenth Anniversary
    This site proved quite an interesting read....

    http://www.find.co.uk/banking/current_accounts_centre/premier_bank_account_guide
  • apt
    apt Posts: 3,209 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    That article has not been updated since 2007.
  • geordie_ben
    geordie_ben Posts: 3,118 Forumite
    Tenth Anniversary
    apt wrote: »
    That article has not been updated since 2007.

    It still holds some valid points, guess it just a spot of working out how much it would all cost to buy seperately compared to the monthly fee.
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