Which bank account +benefits?

akku_2

I am already going slightly insane with this.

I am separating from my wife. We have a joint account with Lloyds TSB which is a Premier type thing. Because its a joint acc't we both get the benefits of it, but pay only the one "premium". Also as she is staff we get it special price or something anyway.

I've never paid that much attention as she works for Lloyds and deals with all this.

Anyway, now I am out on my own and we will be closing the joint acc't soon.

Currently the Lloyds account provides me with free travel insurance, VIP airport lounge access, AA breakdown, recovery and homestart, emergency plumbing/central heating cover, mobile phone insurance, and a selection of other stuff I either can't remember or never used.

Currently this costs me like £6 a month which is great. Just the AA cover would be like £140 a year on its own.

Now I bank with Barclays but their website did my head in when I was trying to work out what their premium banking offers and how much it will cost.

I wondered if there was a handy comparison which was up to date between the features and costs from various high street banks.

I can then see what I would get for the £ fee and if its worth dealing separately with the various stuff I'd want rather than taking it as a bank deal.

I'm not sure I can easily switch to a bank other than Lloyds or Barclays as I'm currently between jobs and in this economy it seems a long "between".

I have a slight preference for Barclays as they didn't get a bail out from the tax payer. I was also looking at HSBC as I have family in Hong Kong and it makes life very easy using HSBC out there and at home (did that for business before).

Cheers.

pinkdalek

Why just not open a sole account with Lloyds at least you won't need to mess about with ID etc or do you not like the idea that your ex could check up on you!

If you are looking for a packaged account check out Halifax's Ultimate Reward, £15 per month but £5 reward cash back if you fund over £1000 each month so technically £10 p/m It offers similar perks to the Lloyds one too.

tagq2

pinkdalek wrote: »

Why just not open a sole account with Lloyds at least you won't need to mess about with ID etc or do you not like the idea that your ex could check up on you!

That worry stopped me getting an account somewhere once. I'm sure accesses are automagically audited but a sneaky peek by someone sufficiently senior wouldn't look suspicious, would it? :cool: Maybe in the past decade it's got more complicated.

akku_2

Yeah, we are on good terms, and remain so because of joint custody of our young daughter, however I wouldn't put it past her, or maybe one of her mates, to make a random audit of my finances should she be angling for me to pay for something?

GentleGiant_2

If you want better benefits, look at the co-op accounts.

stclair

There is going to a feature on packaged bank accounts on watchdog tomorrow, watch that first before you make any decisions lol

GentleGiant_2

stclair wrote: »

There is going to a feature on packaged bank accounts on watchdog tomorrow, watch that first before you make any decisions lol

If it is like most of their reports it will be twisted to make a story.

At the end of the day, decide what benefits are good for you and not the person next door.

If you drive abroad once or twice a year maybe the co-op account with the European breakdown cover would be good value. If you want the sentinel service for replacing cards use Lloyds.

Decide also what you might have benefited from in the past - 4 mobile phones covered might be ideal for you as a family (especially with kids) but for an older couple might not even be needed.

akku_2

I don't drive in Europe. But I do drive a 1986 "vintage" VW so breakdown cover is a must! That said its more reliable than a lot of modern cars I know of... Our record was between wife and I we called AA 3 times in a fortnight once. But I've not made a call in more than a year myself. Wife did on her newish Saab though.

We saved a fortune with the plumbing insurance at the last house, the works would have cost like £800. They needed to get special "sounding" equipment in, rip up and re-lay a patio and all sorts. All free to me. Hopefully won't have that again, but my house was built in 1937 so you never know!

So yeah, its add up costs and benefits.

Thanks for the input chaps.

ses6jwg

Banks accounts that carry a monthly fee in themself are NOT a scam/ rip off, provided you have adequate need/ make decent use of the benefits provided.

An OAP who doesn't shop online, doesn't drive or go abroad will not get good value from a £10 pcm account with breakdown cover, travel insurance and fraud protection.

A bloke with a family and 2 cars, who shops online and travels a lot will.

As usual, I am expecting the Watchdog programme to be extremely biased and twisted to make a good story.

pmduk

Probably for the first time ever, I agree with ses6jwg. I'm happy that I get good value from my select silver account. It wouln't be good value for most of my friends though.