which bacnk account to open

lowflyer

I have been with Santander for many years, but over the past couple have been more and more concerned with their customer service, and security. Especially when someone managed to con £150 from my account over the counter at my local branch.
So, I've been looking at either Lloyds, or Barclays to open a current account with interest on balances, and possibly pay so much a month for extra "benefits" like travel insurance, and RAC/AA cover where the monthly charge would be a lot less than the annual cost of these services if bought separately.
I've trawled through the internet, and have seen loads of horror stories, but just wondered if there are any accounts, or benefit schemes which should be avoided, and those which would be recommended.

book12

Lloyds TSB bank accounts give you interest on balances, while Barclays don't. Therefore, I suggest LTSB.

DrSyn

1.Both "First Direct" and the "Co-op Bank" always get 80% or over in the customer satisfaction polls, so they must be doing a lot their customers like. I think you would be happy with either. Wny not visit their websites.

2. From what I have read & the programs I have heard the accounts where you have to pay monthly fees are not normally worth as much as the banks claim. Normally you can get as good or better extras cheaper, as a stand alone policy or as an add on to your household insurance policy ( paying a small extra charge of course).

3. Are you sure you are comparing "like with like"?

With the banks extas, have you looked at the small print to see what is excluded? As is always the case remember
"the devil is in the detail!"

Venusflytrap

lowflyer wrote: »

So, I've been looking at either Lloyds, or Barclays to open a current account with interest on balances, and possibly pay so much a month for extra "benefits" like travel insurance, and RAC/AA cover where the monthly charge would be a lot less than the annual cost of these services if bought separately.

I would recommend Barclays Bank Account Plus. It charges a fiver per month and offers: mobile phone insurance, gadget and extended warranty insurance, card holder protection against loss of cards and other personal belongings like keys, wallet etc).

I personally have this account and can say that it is one of the moderately priced packaged accounts out there that offer competitive products.

lowflyer

Thanks for your comments, and suggestions.
Had a look at both First Direct, and the Co-op Bank. I need a High Street bank so that ruled out First Direct, but I did look at their parent - HSBC, but no luck there.
The Co-op use AXA for a couple of the benefit schemes I be interested in, but won't use AXA - another story. Don't have a local Co-op, the nearest is 30 miles away.
Down to Barclays - no interest but seem to be better benefits, and Lloyds - interest which will be better in June, but some restrictions in their benefits - e.g. can only use airport lounges if you buy the holiday/flight, etc through Lloyds.
Does anyone have an experience of either Lloyds or Barclays travel insurance, RAC/AA cover, and mobile cover.

opinions4u

Perhaps a Halifax Reward account that pays you £5 a month to have it. No monthly fee and £60 a year that you can put towards buying your own insurances indpendently of the bank (e.g. using Top Cashback to get AA / RAC rebates of up to £50 as well). So there's £110 a year for you to add to whatever monthly fees you won't have to pay on a charging current account.

Alternatively, if you really want the bank account to do the work for you, Halifax Ultimate Reward. Costs £12.50 a month but rebates £5 if you credit £1,000 a month. I don't think it gets you in to the airport lounge though.

http://www.halifax.co.uk/bankaccounts/