Packaged Accounts

Financial Chat
1

Their are many Packaged Bank Accounts out their but I can’t decide on the best one to get.

Virgin Money Club M - £12.50 a month.

  • Family Mobile & Gadget Cover
  • Worldwide Travel Insurance
  • UK Breakdown Cover

Nationwide Flex Plus - £13 a month.

  • Family Mobile Phone Cover
  • World Family Travel Insurance
  • UK & European Breakdown Cover

Co-Op Bank Everyday Extra - £15 a month

  • Mobile Phone Cover
  • World Family Travel Insurance
  • UK & European Breakdown Cover

Halifax Ultimate Reward - £17 a month

  • Mobile Phone Cover
  • World Family Travel Insurance
  • UK Breakdown Cover
  • Home Emergency Cover

If anyone knows of any other and also any stories of using Insurance from these accounts please share them!

2

:monzo: Premium not work for you?

3

Whats the insurance and stuff like from Premium?

4

That’s a subjective question - depending on what you need from a packaged account.

I’ve been a Premium subscriber since its launch in 2020 and I’ve never had to use the Travel Insurance yet, thankfully. Used airport lounge discounted access a lot and I’ve used the mobile insurance (kids cracked iPhone screen) once which went fairly well.

Love the extra interest (1.5% up to £2K) and use Virtual Cards to death as pseudo-contactless cards for the kids.

I think it’s OK in general, but should have breakdown insurance included too - that’s available as an offer from the RAC for an extra £4.49 per month through the Monzo Offers (Offers require a Plus/Premium subscription)

5

Sounds like the Monzo Premium might be the way to go then. I’m also looking at the Nationwide Flex Plus

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6

FlexPlus is arguably the “gold standard” when it comes to packaged accounts. Of course, the value comes from whether you want or need its benefits. Aside from that, from my reading online, lots of folk have great experiences and outcomes if they need to claim against travel or mobile insurance, or the breakdown cover.

There’s also the world of premium accounts, depending on your circumstances, but their benefits tend to be more in the form of offers/rates or enhanced help and service.

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8

It’s worth looking at the insurance policies carefully.

For instance, Monzo travel insurance won’t cover you for any pre-existing conditions.

Others policies do like Lloyds and HSBC - or are willing to allow you to pay a small surcharge so that you are covered (depending on the condition).

It really depends on your insurance needs and it’s also worth considering a standalone policy if you are going to be traveling a lot

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