Should I change bank accounts?

CraigS15

For many years I have been with my bank and currently pay a monthly account charge. I have recently worked out that I am paying over £100 a year for the account, that offers me such as car breakdown cover and home insurance that I don't require.

Should I continue to be with the bank account? All I need is a simple bank account that I can have my money in and not have to pay for anything I don't require.

xylophone

You might consider switching to Yorkshire Bank Current Account Direct?

£150 switching bonus is on offer and the account offers 2% interest on up to £3000.

Check the terms and conditions.


http://www.ybonline.co.uk/

Or a switch to TSB Plus might suit?

Or Tesco?

http://www.moneysavingexpert.com/banking/compare-best-bank-accounts

grumbler

CraigS15 wrote: »

For many years I have been with my bank and currently pay a monthly account charge. I have recently worked out that I am paying over £100 a year for the account, that offers me such as car breakdown cover and home insurance that I don't require.

Should I continue to be with the bank account? All I need is a simple bank account that I can have my money in and not have to pay for anything I don't require.

No, you shouldn't.
Most likely you can simply downgrade the account to a free one with the same bank, but you can switch to another bank for a bonus if you wish.

colsten

grumbler wrote: »

but you can switch to another bank for a bonus if you wish.

you can also switch to a bank that doesn't offer a bonus for switching.

grumbler

Yes, but how is it better than a simple downgrading? The only the OP wasn't happy about was the monthly fee.

jonesMUFCforever

You need to ask the question as well - how much would replacement car breakdown and home insurance cover (?? which bank is this) are they cheaper together on a like to like basis or better purchased seperately.

I don't think I could get at home cover and home insurance cover for less than £100 a year.

colsten

grumbler wrote: »

Yes, but how is it better than a simple downgrading? The only the OP wasn't happy about was the monthly fee.

The new bank might be offering such things as in-credit interest, free overdraft, cashback on DDs, cashback on contactless etc etc etc

colsten

jonesMUFCforever wrote: »

I don't think I could get at home cover and home insurance cover for less than £100 a year.

Which packaged bank account offers home insurance? I might be interested.....

jonesMUFCforever

colsten wrote: »

Which packaged bank account offers home insurance? I might be interested.....

I haven't heard of any - I think OP is mistaken perhaps he was thinking of home emergency cover.

Cisco001

which bank cover home insurance?

I only know those cover mobile insurance, travel insurance and car breakdown