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Compare packaged current accounts

Get added benefits with your current account

Packaged current accounts come with added extras like travel insurance, breakdown cover, mobile phone insurance and more.

Compare packaged current accounts

We compare our best packaged current accounts from leading banks.
Fact checker
Last updated
January 9th, 2024
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Is my money safe?
The Financial Services Compensation Scheme (FSCS) guarantees that the first £85,000 you have saved with a UK-authorised bank or building society (or the first £170,000 for a joint account) will be safe even if the business goes bust.

Package current account deals

6 results found, sorted by monthly account fee.
Exclusive metal card + phone insurance (exclusions apply)

Monzo Premium

Overdraft interest rate
39%EAR
AER
0.00%
Monthly fee
£15
Joint account
No
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Instant Access Savings Pots 4.6% AER (variable). No minimum deposit & maximum deposit £100k. You must have a Monzo account to get an Instant Access Savings Pots. T&Cs apply.
  • Overdraft limit up to £2000. You must be over 18 to get an arranged overdraft. Credit subject to status. Terms and conditions apply. Monzo Bank Limited Address: Broadwalk House, 5 Appold St, London EC2A 2AG.
  • Access to offers from a range of brands. Offers may change without notice, T&Cs vary by vendor.
Eligibility
Maximum Age69 years
Maximum InvestmentUnlimited
Minimum Contract Term6 months
Minimum Age18 years
Permanent UK Resident
See your other bank accounts and credit cards in one place

Monzo Plus

Overdraft interest rate
39%EAR
AER
0.00%
Monthly fee
£5
Joint account
No
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Instant Access Savings Pots 4.6% AER (variable). No minimum deposit & maximum deposit £100k. You must have a Monzo account to get an Instant Access Savings Pots. T&Cs apply.
  • Overdraft limit up to £2000. You must be over 18 to get an arranged overdraft. Credit subject to status. Terms and conditions apply. Monzo Bank Limited Address: Broadwalk House, 5 Appold St, London EC2A 2AG.
  • Access to offers from a range of brands. Offers may change without notice, T&Cs vary by vendor.
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Contract Term3 months
Minimum Age18 years
Permanent UK Resident

TSB Spend & Save Plus

Overdraft interest rate
39.9%EAR
AER
0.00%
Monthly fee
£3
Joint account
Yes
Representative example:
£100 interest and fee free overdraft, subject to financial status. If you then use an arranged overdraft of £1,200 you will be charged 39.9% EAR variable. Representative APR: 40.1%. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Eligible for cashback if you open a new Spend & Save Plus account, including changing from an existing TSB current account.
  • Zero TSB card changes abroad. ATM operators/foreign banks may charge & sellers may apply a currency conversion fee on purchases.
  • Set up Savings Pot and earn 2.92% AER variable.
  • Interest-free overdraft up to £100. Subject to approval. UK 18+
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
Access to Santander Edge Saver with 7.00% AER / 6.78% gross (variable) interest on balances up to £4,000

Santander Edge

Overdraft interest rate
39.94%EAR
AER
0.00%
Monthly fee
£3
Joint account
Yes
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39.94% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Access to Santander Edge Saver with 7.00% AER / 6.78% gross (variable) interest on balances up to £4,000. (includes 2.50% AER / 2.47% gross (variable) bonus rate for the first 12 months from opening.
  • 1% cashback (up to £10 a month) on selected household bills when you pay by Direct Debit.
  • 1% cashback (up to £10 a month) at supermarkets and on travel costs when you use your debit card (exclusions apply).
  • We won't charge you to use your Santander Edge up debit card outside the UK – learn more in the ‘Travel’ section.
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Minimum Monthly Credit£500
Permanent UK Resident
£200 offer when you switch to NatWest. T&Cs apply

NatWest Reward

Overdraft interest rate
39.49%EAR
AER
0.00%
Monthly fee
£2
Joint account
Yes
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39.49% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Switch your current account held elsewhere to NatWest using the Current Account Switch Service to get the £200 offer.
  • Offer terms, conditions and restrictions apply. Offer may be withdrawn or amended at any time.
  • NatWest could pay £200 into your open NatWest account within 7 days of meeting criteria.
  • Earn from 1% in Rewards when you spend with selected partners + up to £5pm in Rewards (£4 with 2x +£2 Direct Debits set up & £1 for monthly app log in). You need to also pay in £1,250 to an eligible NatWest account every month.
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
£200 offer when you switch to Royal Bank. T&Cs apply.

Royal Bank Reward Account

Overdraft interest rate
39.49%EAR
AER
0.00%
Monthly fee
£2
Joint account
Yes
Representative example:
If you use an arranged overdraft of £1,200 you will be charged 39.49% APR Representative/EAR variable. Subject to financial status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
More Information
Additional information
  • Switch your current account held elsewhere to Royal Bank using the Current Account Switch Service to get the £200 offer.
  • Offer terms, conditions and restrictions apply. Offer may be withdrawn or amended at any time.
  • Royal Bank of Scotland could pay £200 into your open Royal Bank of Scotland account within 7 days of meeting criteria.
  • Earn from 1% in Rewards when you spend with selected partners + £5pm in Rewards (£4 with 2x +£2 Direct Debits set up & £1 for monthly app log in). You need to also pay in £1,200 to an eligible Royal Bank of Scotland account every month.
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
Uswitch Limited is a credit broker, not a lender, for consumer credit.
Our services are provided at no cost to you. We may receive a commission from the companies we refer you to, but this does not affect what you will pay for the product you choose.

What is a packaged current account?

Packaged current accounts perform the same basic functions as standard current accounts - letting you pay money in, pay bills, and pay with a card online and in store - but come with extra benefits attached.

How packaged current accounts work

Packaged accounts work by offering you extra benefits such as cashback on your spending, high interest on positive balances, or linked benefits like mobile phone insurance or breakdown cover.

The catch is that these accounts typically charge a monthly fee. However, often the monthly fee charged can be a lot lower than if you got these features separately.

Joint packaged accounts are also available, which can offer better value than individual accounts as the perks can be used by both of you.

If you play your cards right, the benefits will handily outweigh the fee charged - just make sure you're using them or you could end up spending money for nothing.

Current account switches in 2023[1]
1,312,103

Benefits available as part of a packaged current account

Travel insurance

Travel insurance

Worldwide family travel insurance is one of the most commonly included benefits with packaged bank accounts. Just check carefully for exclusions around topics like maximum age and pre-existing conditions.

Breakdown cover

Breakdown cover

You can enjoy roadside breakdown support in the UK or across Europe with membership of organisations like Green Flag, the AA and RAC with some current accounts.

Mobile phone insurance

Mobile phone insurance

Several packaged accounts include mobile phone cover or other gadget insurance as part of their deals.

Cashback

Cashback

Several accounts will give you back a percentage of your spending or a cash reward if you meet certain requirements. You may get 1% cashback on your household bills, for example.

Linked high-interest savings accounts

Linked high-interest savings accounts

Some packaged current accounts offer exclusive access to linked, high-interest savings accounts that are only available to people with the current account. These are typically regular saver accounts or instant access accounts.

Home emergency cover

Home emergency cover

Home emergency cover is also sometimes offered as a packaged benefit. This provides professional help if something goes wrong in your home - for example a broken boiler or burst pipe.

Travel perks

Travel perks

Free use abroad, airport lounge access and even air miles are sometimes also included as part of the deal with some packaged bank accounts.

Benefits available as part of a packaged current account

Travel insurance

Travel insurance

Worldwide family travel insurance is one of the most commonly included benefits with packaged bank accounts. Just check carefully for exclusions around topics like maximum age and pre-existing conditions.

Breakdown cover

Breakdown cover

You can enjoy roadside breakdown support in the UK or across Europe with membership of organisations like Green Flag, the AA and RAC with some current accounts.

Mobile phone insurance

Mobile phone insurance

Several packaged accounts include mobile phone cover or other gadget insurance as part of their deals.

Cashback

Cashback

Several accounts will give you back a percentage of your spending or a cash reward if you meet certain requirements. You may get 1% cashback on your household bills, for example.

Linked high-interest savings accounts

Linked high-interest savings accounts

Some packaged current accounts offer exclusive access to linked, high-interest savings accounts that are only available to people with the current account. These are typically regular saver accounts or instant access accounts.

Home emergency cover

Home emergency cover

Home emergency cover is also sometimes offered as a packaged benefit. This provides professional help if something goes wrong in your home - for example a broken boiler or burst pipe.

Travel perks

Travel perks

Free use abroad, airport lounge access and even air miles are sometimes also included as part of the deal with some packaged bank accounts.

5 things to check before applying for a packaged bank account

Packaged bank accounts can be great – for the right person. These are five things you need to check before applying.

Do you already have the included benefits somewhere else?

Getting breakdown cover, phone insurance, travel insurance and more included in your bank account sounds great - unless you're already paying for them elsewhere that is.

Double check your home insurance, car insurance and other policies to see whether you're already covered. Then check with your partner and family as well in case one of their policies covers you too.

Check you can actually use all the benefits

Do your bills get paid from your account to get cashback from them? Will the travel insurance cover any pre-existing conditions you have? Do you have enough spare cash to make use of the savings account?

Before signing up to pay monthly a fee to access linked benefits, check the small print to make sure you can actually use them.

If you can't, you’ll end up paying money for nothing.

Check the cost of getting the benefits elsewhere

One of the tricks of packaged current accounts is that you see a monthly fee advertised, while other policies charge you annually.

For example, annual breakdown cover of £85 works out at just £7.08 a month.

Run a quick comparison to see what the packaged account policies will cost you elsewhere, then divide this by 12 to see if it's actually good value.

Check for free alternatives to what's included

The right credit card can offer cashback or free use abroad.

The best-paying savings accounts can get you more than 4% interest.

None of these come with any fees attached at all.

So before you sign on the line to pay a monthly fee, see what's available elsewhere for free.

Ask if yourself if you will actually use the benefits

Included worldwide travel insurance sounds great - but if you normally holiday in Cornwall isn't worth paying for.

An 8% regular saver account might be market-leading, but if you're living in your overdraft isn't the most useful.

Put simply, no matter how much cheaper something is than you can find it elsewhere, if you buy it then never use it it's still a waste of money.

Typical costs of included benefits if bought separately
What it would cost you each month to buy some of the more common benefits included in a packaged current account if you were to get them separately.

How to choose the best packaged account for you

What you need to do to make sure your current account is working for you, not against you.

Decide what matters most

Are you in this for the cashback or interest on offer?

Do you want to make sure you're covered on holiday or that you get cheap breakdown cover?

Before signing up to a packaged account, work out what features are nice to have and what you consider essential.

See if you can get it free

The benefits available in packaged accounts don't always cost you anything.

You can often find linked savings accounts and cashback for free if you compare current accounts thoroughly enough.

So before signing up to a packaged account, check you need to.

Make sure it all adds up

Check the benefits are worth the price - and that they're things you'll be able to use.

That means checking for exclusions and cover levels on any insurance policies to ensure you're happy with what's on offer.

If it all adds up after you've checked, then it's time to sign up.

Is a packaged current account worth the fee?

There are two key advantages of packaged current accounts: Simplicity and cost.

The right package means you don't need to worry about renewing you breakdown cover or travel insurance ever again - and you might end up paying less overall too.

If you're in it for the money, rather than the insurance, then make sure you're spending or saving enough for the cashback and interest to to cover your fees.

But don't assume you'll get a good deal - it's always worth checking for free alternatives and if stand alone policies might be cheaper or better suited to you.

Pros and Cons

Pros

Can be cheaper than buying benefits seperately
Simpler than having to remember to renew policies
Cashback and linked savings can see you make money

Cons

Linked benefits might not be suitable for you
Fees could cost more than cashback if you don't spend enough
You might already have some of the benefits elsewhere
A packaged bank account can make your life simpler and save you cash - just make sure the linked benefits are worth it first.

FAQs

Do you have to pay a monthly fee for a packaged account?

Not always. But you can get many of the benefits available from a packaged bank account without paying a monthly fee.

Many accounts come with included linked savings accounts, free use abroad and even cashback - but have no fee attached to them.

Will applying for a packaged current account affect my credit rating?

Any formal application for credit - including the overdraft element of a packaged bank account - results in a credit check.

That means banks will log a search of your credit history on your report before deciding to offer you a deal or not. This is visible to other lenders, but not part of your credit score.

How are the fees charged?

Any monthly fee for a packaged bank account is automatically deducted from your account in the same way that overdraft charges and overseas debit card usage fees are.

Can you open a joint packaged bank account?

Yes. But make sure the benefits are applied sensibly - for example you might only be able to sign up for breakdown cover for one car or get mobile phone coverage for one phone. If you want to double the benefits, a higher fee might be charged to reflect that.

Are banks still refunding mis-sold packaged bank accounts

In the past banks have found themselves in trouble for selling packaged bank accounts to people who couldn't use the benefits associated with them.

Rules now mean banks have to check that the extras are suitable for you. If you think you've been mis-sold a packaged bank account in the past, the Financial Ombudsman Service has a guide to common problems and how to complain here.

Which banks does Uswitch's comparison include?

We compare current accounts from a wide range of high street banks and newer challenger banks. Compare our current account providers to check which ones we include.

In depth guides to current accounts

Find out more about the current accounts available, how they work and how to switch between them
Premium bank accounts explained
Premium bank accounts explained
Switching your current account: step by step
Switching your current account: step by step
A comprehensive guide to current accounts
A comprehensive guide to current accounts

About the author

Salman Haqqi
Salman Haqqi has over a decade of experience as a journalist in several countries around the world. In recent years, he has turned his focus to helping people make confident financial decisions and regularly comments in the media about personal finance.

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References

1. Current account switching service pay.uk: Date for Jan - Nov 2023