RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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These Premium Bank Accounts which you pay a monthly fee for but in return get various bonuses such as travel insurance, breakdown cover etc. What are the best ones on the market atm?
I've always thought it was a bit of a scam but the missus' account gives her AA recovery at the same level as I pay £80 a year for, travel Insurance with the same company I'm with which is £35 for 2 weeks snowboarding cover, so thats £115 straight away with various other extras such as mobile insurance and health care. That's with Santander, I'm with HSBC and their premier accounts don't seem as good
[Edited on 03-02-2012 by LiVe LeE]
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John
Member
Registered: 30th Jun 03
User status: Offline
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I'm in the process of signing up for RBS royalties mainly because I want the phone insurance to get a replacement phone.
You get greenflag breakdown cover, cheap tickets for stuff, travel insurance (which I get free with Santander anyway) extended warranty on electronic purchases, more stuff I'm not interested in.
£12.95 a month, covers 2 phones on a joint account.
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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I've got a Natwest Gold account, it's really good. I think they used to be a bit of a scam but these days are actually really good value.
I'm looking to get a black account soon because then you get to use airport lounges and 24 hour home emergency cover etc.
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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These guys seem to be quite good at telling you which ones are best:
http://star-ratings.defaqto.com/
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Nick-S
Member
Registered: 3rd Mar 04
Location: Leigh. Drives: RS Megane 230 F1 Team R26
User status: Offline
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Ive got a Halifax Ultimate Reward Current Account.
It cost me £15 a month, but so long as i pay at least £1000 a month into it i get £5 back, so it only cost £10 realy.
I get worldwide multi-trip family travel insurance, AA breakdown cover which includes home start, AA accident management, mobile phone insurance, home emergency cover, and card protection.
TBH i think its worth paying just for the AA cover and thats why i chose to upgrade.
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Tom
Member
Registered: 3rd Apr 02
Location: Wirral, Merseyside
User status: Offline
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quote:
Originally posted by Nick-S
Ive got a Halifax Ultimate Reward Current Account.
It cost me £15 a month, but so long as i pay at least £1000 a month into it i get £5 back, so it only cost £10 realy.
I get worldwide multi-trip family travel insurance, AA breakdown cover which includes home start, AA accident management, mobile phone insurance, home emergency cover, and card protection.
TBH i think its worth paying just for the AA cover and thats why i chose to upgrade.
Same for me, for £120 a year it's hassle free.
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M2RTY
Member
Registered: 25th May 01
User status: Offline
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mate, i was the same as you....i would do this:
i am with hsbc, premier account is shite
my lass is with halifax, she pays 15 (minus 5) a month and gets a lot for her money, but it covers me too seeing as I am her "partner"
I asked about opening a join account with halifax, and paying for the benefits, and it can cover 2 people even who dont live together
stupid both of us payiong it when i switch over to halifax on Monday, but wioth us both now being with halifax and having a joint account, we earn 3x£5 a month for having a grand put in each account, and this pays for the premium fee
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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The travel insurance on her account will cover partners and upto 2 children (not that we have any), I'll get her to check if her breakdown covers more than one person and if so, boom, make her pay and I'll reap the benefits
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thegsi
Member
Registered: 3rd Feb 07
Location: Kidderminster Drives: Evo (you can't afford one)
User status: Offline
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I have the Natwest Gold account. It's only £13 a month and it has saved me a few bob. Have two iPhones insured and have been on a few holidays using their insurance. Dont know how easy it would be to claim but it's nice to know it's there.
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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I'm pretty sure Martin Lewis (moneysavingexpert.com) said you can get these extras cheaper separately than when you pay for them through your bank.
I wish my business account gave me these 'extras', I don't have a choice when it comes to paying for the company account (other than moving banks). 
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M2RTY
Member
Registered: 25th May 01
User status: Offline
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martin lewis said most of the times you are better off, but i know for a fact we are better off going throught bank
15 quid a month insures 2 iphone 4s, brakedown on any cars we are in up to 10 years old, annual travel insurance inc skiing in feb every year, free cash withdraws abroad, etc etc etc
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M2RTY
Member
Registered: 25th May 01
User status: Offline
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but yes my hsbc one wasnt worth doing ever
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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I was pleasantly suprised with my Halifax reward account. It kinda got upgraded without me having a say in things so I whined about it for over a year - but in the last three months or so I've had both the mobile phone insurance and the AA home start come to my rescue. Looked at the other rewards, and it's really quite a good deal 
Lotus Elise 111R
Impreza WRX STi
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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be aware that its an absolute ball ache if you need to claim using the insurances.
i have a halifax ultimate reward account and claimed last august when we lost a bag on holiday.
6 months later we still havent received anything. need to phone them up about it bit you have to spend an hour waiting
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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quote:
Originally posted by Kyle T
I was pleasantly suprised with my Halifax reward account. It kinda got upgraded without me having a say in things so I whined about it for over a year - but in the last three months or so I've had both the mobile phone insurance and the AA home start come to my rescue. Looked at the other rewards, and it's really quite a good deal
Oh, and mine is £12/month but I get a fiver back for depositing a grand or more each month.
Lotus Elise 111R
Impreza WRX STi
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Toby
Premium Member
Registered: 29th Nov 05
User status: Offline
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It's gone up Kyle about 3 months ago. I complained as I didn't get any formal notification either
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M2RTY
Member
Registered: 25th May 01
User status: Offline
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quote:
Originally posted by Ben G
be aware that its an absolute ball ache if you need to claim using the insurances.
i have a halifax ultimate reward account and claimed last august when we lost a bag on holiday.
6 months later we still havent received anything. need to phone them up about it bit you have to spend an hour waiting
same as any other compnany
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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quote:
Originally posted by James
I've got a Natwest Gold account, it's really good. I think they used to be a bit of a scam but these days are actually really good value.
I'm looking to get a black account soon because then you get to use airport lounges and 24 hour home emergency cover etc.
 Thought you worked for HSBC 
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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quote:
Originally posted by M2RTY
quote:
Originally posted by Ben G
be aware that its an absolute ball ache if you need to claim using the insurances.
i have a halifax ultimate reward account and claimed last august when we lost a bag on holiday.
6 months later we still havent received anything. need to phone them up about it bit you have to spend an hour waiting
same as any other compnany
do you mean holiday insurance companies? when i've claimed on my car insurance i've always been paid out quite promptly. certainly have never had to wait more than 6 months +
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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quote:
Originally posted by Whittie
quote:
Originally posted by James
I've got a Natwest Gold account, it's really good. I think they used to be a bit of a scam but these days are actually really good value.
I'm looking to get a black account soon because then you get to use airport lounges and 24 hour home emergency cover etc.
Thought you worked for HSBC
 I've never worked for HSBC.
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spencer88
Member
Registered: 6th Oct 08
Location: cornwall
User status: Offline
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I have the HSBC one and cannot complain.
But then it depends what you use the account for.
Not only do I get Breakdown, phone insurance and travel insurance, but you get preferential rates on borrowing and savings.
The other year I had a savings account offering 8% gross, I also get a free overdraft facility and credit card, plus if I want a loan, I get better rates generally, similar with a mortgage.
I easily recoup the charge in interest.
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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quote:
Originally posted by James
quote:
Originally posted by Whittie
quote:
Originally posted by James
I've got a Natwest Gold account, it's really good. I think they used to be a bit of a scam but these days are actually really good value.
I'm looking to get a black account soon because then you get to use airport lounges and 24 hour home emergency cover etc.
Thought you worked for HSBC
I've never worked for HSBC.
No idea why I thought that mate
Probs Canary Wharf.
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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I did work next door to HSBC if that helps
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