Value added accounts

seriousDFW

I am making several international trips this year, and I have separate breakdown cover and mobile phone insurance, and I think I could save money and get the same cover with a value added account. The Lloyds TSB Platinum looks promising for £17.

Just wanted to ask, does anyone know if I can open an account and just pay in the £17 fee, and not use the account, and still get the benefits, or do I have to actually use the account? I don't want to transfer my main bank account.

Thanks in advance.

CKhalvashi

seriousDFW wrote: »

I am making several international trips this year, and I have separate breakdown cover and mobile phone insurance, and I think I could save money and get the same cover with a value added account. The Lloyds TSB Platinum looks promising for £17.

Just wanted to ask, does anyone know if I can open an account and just pay in the £17 fee, and not use the account, and still get the benefits, or do I have to actually use the account? I don't want to transfer my main bank account.

Thanks in advance.

Metro Bank may be worth a look, as may the Halifax CC for international spending.

You don’t mention any salary/savings details, but we’ve always had a good offer through HSBC Premier Debit/Credit cards, plus an AmEx BA Avios, but what we use our cards for may be different to you.

CK

seriousDFW

CKhalvashi wrote: »

Metro Bank may be worth a look, as may the Halifax CC for international spending.

You don’t mention any salary/savings details, but we’ve always had a good offer through HSBC Premier Debit/Credit cards, plus an AmEx BA Avios, but what we use our cards for may be different to you.

CK

Thanks. I have a Halifax Clarity credit card and an N&P debit card for 0% loading spending/cash, my use for the added value account would be the travel insurance.

Macca83_2

I have an ultimate reward current account that i transfer into each month to get the benefits for a tenner, then transfer the funds out again. Haven't had any problems doing this so far.

What's the worse they can do? Close the account?

opinions4u

You can just cover the fee. Although you might want to utilise the 3% Vantage rate by leaving £5k in the account and pushing £1,017 into the account and £1,000 straight back out.

I am making several international trips this year

Business trips? If so check the insurance covers them. Probably doesn't.

The Halifax URCA cot £15 a month but rebates a fiver if you fund with £1,000 or more. Faster Payment in and out, taking 2 minutes, should do the job. You'd then qualify for the additional £5 back on your Clarity Card.