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Packaged bank accounts

Switch to a bank account with additional benefits

  • Compare our best packaged deal

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What is a packaged bank account?

A packaged bank account is a type of current account that comes with extra services or features included – typically insurance products like travel insurance and breakdown cover. But they may also come with other perks like airport lounge access. You’ll usually pay a monthly fee for your account’s benefits




Different packaged bank accounts come with different features and deciding on the best account for you can feel tricky. That’s where we come in. When you compare current accounts with MoneySuperMarket, you’ll be shown deals from different providers, so you can settle on a bank account that suits you.

What benefits do packaged accounts offer?

There are a range of potential benefits that can come with packaged accounts, including:

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    Gadget/mobile phone cover

    Some packaged accounts will cover your (and sometimes family members’) mobile phones and other gadgets like laptops

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    Travel insurance

    Many accounts will offer travel insurance – just make sure to check any age limits and declare any pre-existing medical conditions so you’re fully covered

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    Breakdown cover

    Breakdown cover in the UK will often be included, while some packaged accounts will cover UK and European breakdown, which could be reassuring if you drive on the continent

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    Home emergency cover

    Many accounts include home emergency cover which can protect you against unexpected incidents like your boiler breaking or a loss of electricity supply to your home

How to choose the best bank account with benefits

You may find a short-term or temporary van insurance policy is more useful and cost effective than annual cover if you need the vehicle for:

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    Make sure the benefits are worth it

    Unless you’re going to use the benefits included in your packaged account, you could end up wasting money on the account’s monthly fee. Make sure you’re going to use the benefits that come with the packaged account, whether it’s the travel or gadget insurance or breakdown cover. Don’t pay for benefits you won’t use

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    Be mindful of fees

    Try to measure the monthly fee against the benefits you’ll receive. You may get more benefits for a slightly higher fee elsewhere, or you may be paying too much for benefits you won’t use. Make sure to weigh up the monthly cost of having a packaged account – it may be cheaper to get those benefits elsewhere (like travel insurance or breakdown cover) and opt for a current account with no monthly fee

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    Check the small print

    Be sure to check that the benefits of the packaged account suit your needs and are appropriate for you. While your packaged account may come with travel insurance as a benefit, there may be an age limit, or they may not cover your pre-existing medical conditions. You might find you’d be better covered taking out travel insurance separately, especially if you need cover for winter sports, which might not be covered by your packaged account

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    Do you need an overdraft?

    If you need an overdraft, you may want to look for an account with a cheaper borrowing rate over an account with benefits, as this will save you money in interest fees. Packaged accounts often have high overdraft limits, but you will be paying a monthly fee for the account as well as your overdraft interest. You may find you can get a better value overdraft elsewhere

Are packaged bank accounts worth it?

Whether a packaged account is worth it will depend on whether the value of the benefits to you outweighs the costs. Not sure if a packaged account is right for you? Here are some alternatives to consider…

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    Rewards and cashback current account

    Rewards and cashback current accounts reward you with money back when you spend with certain retailers, for example, or pay utility bills from the account.

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    Switch incentive

    Many current accounts offer incentives when you switch to them, from cashback to days out and wine.

How to compare packaged bank accounts with MoneySuperMarket

We can take the hard work out of finding a current account to suit you by comparing a range of current accounts all in one place.

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    Browse our providers

    Click through to search the market to find the best current account for your needs, including any cash incentives to switch

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    Filter and sort

    Use our handy filters to narrow down your options based on the type of current account you need, such as high interest or student accounts

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    Click through to provider

    When you find the deal you want, click straight through to the provider to complete your application. Sit back while your new bank takes care of the switch


When you sign up for a packaged bank account your details will be given to any relevant partners, such as insurers providing the add-on benefits as part of your account deal. In some cases, such as with travel insurance, the insurer may need additional personal information from you – such as any pre-existing medical conditions, that could affect your cover. It is important to fully disclose any information or you could render your policy invalid and you would not be able to claim. Policy documents will be available online after you have signed up to your packaged account and you will have access to the insurers’ claims phone lines in the event you need to claim.

Packaged account fees range from about £10 to £20 per month. The money is taken automatically from your account in the same way as overdraft charges or overseas debit card usage fees.

Typically, you will also need to pay a minimum amount of around, £1,500 into the account each month to qualify. If you believe you were mis-sold a packaged account because, for example, you could not use the free insurance, you can claim the fees back from your bank.


Different current accounts come with their own incentives and features, so what benefits are best will depend on what you features are most important to you. You may be after travel insurance that’s included with your current account, or you may prefer to receive cashback on your spending. It’s important to weigh up what benefits are most important to you, so you can find the right current account that suits you and your finances.


MoneySuperMarket gives you lots of clever ways to save a lot, by doing very little.

  • Take control of your credit score by checking and improving it for free with Credit Monitor
  • Never overpay again with Energy Monitor, our energy monitoring service
  • Over 50 ways to Get Money Calm

So how do we make our money? In a nutshell, when you use us to buy a product, we get a reward from the company you’re buying from.

But you might have other questions. Do we provide access to all the companies operating in a given market? Do we have commercial relationships or ownership ties that might make us feature one company above another?

We commit to providing you with clear and informative answers on all points such as this, so we have gathered the relevant information on this page.