25 Sept 2024

Best packaged bank accounts 2024

We reveal which packaged accounts offer the best value based on cost, the quality of the travel insurance, breakdown cover and other benefits.

Sam Wilson

In this article

What is a packaged bank account?

Some current accounts come with extra benefits, such as travel insurance, car breakdown cover and mobile phone insurance.

In exchange you pay a monthly fee, which could be less than buying the insurances separately. But they're only great value if you use the benefits.

Here we reveal the best packaged accounts and explain whether they're worth buying.

Best and worst packaged bank accounts

We've scored a range of leading accounts, all of which offer travel insurance, breakdown cover and mobile or gadget cover.

Score breakdown

Overall score


eco buy best buy Nationwide BS FlexPlus	76%	£13*	£156*
Virgin Club M Account	76%	£12.50	£150
Monzo Bank Max	74%	£17.00	£204
Barclays Bank Account - with Travel and Tech Lite	70%	£23.50	£282
Barclays Bank Account - with Travel and Tech Pack	70%	£29.00	£348
Monzo Bank Max with family cover	69%	£22.00	£264
Halifax Ultimate Reward Current Account	68%	£19.00	£228

Table notes Correct as of 23 September 2024. * From 1 December 2024, the Nationwide FlexPlus monthly fee will go up from £13 a month to £18 a month. Overall score Weighted by the annual cost and extras such as interest-free overdrafts or cashback and credit interest (30%), quality of travel insurance (30%), car breakdown (30%) and mobile phone insurance (10%). See full methodology.

Packaged bank account reviews

Nationwide FlexPlus – Best Buy

Nationwide’s FlexPlus account topped our table again with a score of 76% and is a Which? Best Buy.

Nationwide will increase the monthly price to £18, previously £13, from 1 December 2024. Despite the price rise, it is still the fourth-cheapest account we analysed.

Our experts rated its travel insurance very highly and it doesn't have age limits.

Along with top policy scores for mobile insurance and breakdown cover, the FlexPlus account is also one of only three accounts to offer fee-free cash withdrawals and spending abroad, along with the Virgin Money Club M account and Monzo (it limits your fee-free overseas cash withdrawals to £600 a month).

The combination of a good price, excellent policy scores and high customer satisfaction means Nationwide FlexPlus is a Best Buy packaged account. It also received our Eco Provider award for banking in September 2023.

£175 switching offer

At the time of writing, Nationwide was offering £175 if you switched your current account banking to it.

This could cover the fees on the FlexPlus account for approximately 10 months, depending on when you switched.

You'll need to use the current account switching service (which closes your old account), move two direct debits, pay in £1,000 and use your debit card within 31 days.

You can't get this offer if you've benefited from a Nationwide switching offer since August 2021.

Virgin Money Club M Account

The Virgin Club M Account also scores 76%.

The most eye-catching part of this account is the price. At only £12.50 a month, it is the cheapest account we analysed. It is one of only two accounts in the past year that hasn't raised or is planning to raise its monthly fee.

The Club M Account scored highly for its breakdown cover, which is now also available in Europe. It missed out on being a Best Buy due to policy scores under 70% for its travel and mobile phone insurance.

Nationwide's takeover of Virgin Money is unlikely to lead to immediate changes in product offerings, and the two providers will keep their separate Financial Services Compensation Scheme protections, rather than having to share the £85,000 limit.

Monzo Max

Monzo ditched Premium and launched a new range of accounts in April 2024.

Monzo Max (£17 a month) offers worldwide travel insurance, worldwide phone insurance and UK and Europe breakdown cover. You can also add family members to those policies for an extra £5 a month.

Along with insurance benefits, Monzo Max also includes a free Greggs treat a week and an annual railcard every year.

Monzo Max impressed with a 96% score for its breakdown cover and a solid 67% for its travel insurance. However, its mobile phone cover disappointed with 55%.

Pick and mix packaged accounts

Barclays offers a different style of packaged account by giving you the option to add insurance to your existing current account.

You can choose between two levels of cover for both travel insurance (includes breakdown cover) and gadget insurance. Barclays’ bolt-ons continue to be relatively expensive – even choosing the least- comprehensive insurance options (Barclays Tech lite and Travel) will cost £60 more than Nationwide's FlexPlus account.

Barclays travel insurance was very highly rated by our experts.

Is it worth paying for a packaged account?

Packaged accounts can be great value, particularly those at the top of our table, but only if you use the benefits.

And some of the 'benefits' aren't that much use. So if you're thinking of opening a fee-charging bank account, or already have one, ask yourself these key questions:

How many of the benefits do I need?
Does the insurance give me the right amount of cover?
Can I get any of the benefits cheaper elsewhere?
Am I already covered?

Take the time to see what else is on the market, making sure you don't have duplicate cover elsewhere: mobile phones and gadgets may be covered by your home insurance, for example, and some car insurers include breakdown cover as standard.

To avoid wasting your money, keep an eye on annual statements, and switch to a free account if you're not making the most of the perks you're paying for.

If you do have a packaged account, you should be given ample notice of any changes, as well as an annual eligibility statement prompting you to assess whether the account is still worth paying for.

Think about the way you run your account. For example, if you tend to use an overdraft from time to time, a standard account may save you money on fees and charges.

Go further The Money Helper bank account fees and charges tool can help you compare current accounts offered by most banks based on what they charge for different services and facilities.

More on packaged bank accounts

You generally need to be over 18 to open a packaged bank account.

There aren't usually upper age limits for opening accounts - but there will be for some of the insurance they come with.

Standard travel insurance upper limits range from 70 to 80.

Nationwide has now removed its £65 per account fee to cover those over 70, so is a good option for travellers over that age.

NatWest/RBS will also theoretically offer cover whatever your age - but only if you pay an additional fee when you reach 70. This is £75 per person, meaning joint account holders only pay once.

You'll still need to disclose any medical conditions, which may or may not be covered.

If standalone travel insurance is expensive because of your age or health, a packaged account may actually be the cheapest option.

Check with your chosen bank first, though, as pre-existing medical conditions (PEMCs) aren't covered automatically. You'll need to declare these when you open the account and you may be asked to pay extra, or accept limited cover.

Insurers also ask to be informed of any material changes to your health, at which point they may re-screen you, which could result in the terms of cover changing or the premium going up.

Read more: best travel insurance if you have a medical condition

With mobile phone insurance, most banks will only cover your phone and limit claims to two a year, though Barclays, Virgin Money and Nationwide are more generous.

Barclays Tech Pack will cover up to four mobile phones and unlimited gadgets if they cost up to £1,500. It allows unlimited claims for damage or breakdown, four claims for loss or theft of mobile phones, and four claims for any claims for gadgets.

Nationwide protects multiple phones owned by you and family members living at the same address. Virgin Money will cover phones and gadgets owned by you and family members living at the same address.

Ask your bank whether there are any other steps you need to take to qualify for the benefits, such as registering your smartphone online.

There are rules in place to prevent insurance mis-selling within fee-charging bank accounts.

These force providers to a) check whether you are eligible to claim under each policy and make sure you know that information; b) establish whether each policy is suitable for you and alert you if some aren't; and c) provide you with annual eligibility statements prompting you to check if the policies still fit your needs.

Here are some other things to watch out for:

You were signed up without realising it Banks should not do this without your consent unless all customers on a previously free account are being switched to a packaged account.
You are no longer eligible to claim if your circumstances change, for example, if you pass the maximum age limit to claim on a travel insurance policy, your provider should inform you of this.
You have to activate the benefits before you can use them Check whether you need to do this when you open the account, otherwise you might find that your insurance is invalid and that you have been paying for something you can't use. If this wasn't explained to you and your insurance claim is rejected, you might have grounds for complaint.

If you think that the features of the packaged account weren't explained properly, or the benefits didn't apply to your circumstances, you might have been mis-sold the account.

First, lodge a complaint with your bank or building society. If after making a formal complaint, you disagree with their final decision, or if you don't hear from them within eight weeks, you have the right to take your complaint to the Financial Ombudsman Service.

How we analyse packaged bank accounts

What counts as a packaged bank account

There are plenty of accounts that charge a fee and offer perks. But to make our research useful to you, we only score accounts including the following:

worldwide family annual travel insurance, including winter sports (exclusions apply)
car breakdown for roadside assistance, home start and nationwide recovery. We've also noted which cover you in Europe or provide alternative travel or accommodation while your vehicle is being repaired
mobile or gadget cover.

Which? Best Buys

A Which? Best Buy packaged bank account must prove it combines an excellent bank account, insurance policies and customer experience.

To do this we only make an account a Best Buy with an overall score over 75% and individual policy scores above 70%. A Best Buy account is also required to have a customer score of at least 70%.

Product score

We analyse dozens of elements, including rewards and benefits, fees and charges, how you can operate the account and the quality of the insurance cover, to calculate an overall rating score.