Have always used Halifax for our joint account. The benefits are pretty good, but it’s going up to £17 a month, and phone excess (on the included phone insurance) is going to be fixed at £100 for all handsets. I’ve claimed once this year, and they did a real bodge job!
Wondered what’s out there with regards to benefits and features.
We use Nationwide FlexPlus for the benefits, and Barclays, NatWest and Coop for the rewards (the rewards we get from them are more than the fees we pay to Nationwide).
Main differentiatiors between Halifax/Nationwide in this context, as far as I’m aware:
Halifax
Nationwide
Fee
£15 (apparently soon £17)
£13
Phone insurance
Only account holders’ phone(s)
covers phones of children living with parents as well
Travel insurance
Doesn’t cover kids travelling independently
Covers kids travelling independently
Interest
?
3% on up to £2.5k
I’m sure there are others as well, but these were the main differentiators we were looking at when we made our decision a while back.
Great. Thanks for taking the time to do the comparison. I’ll have a look
I’m also thinking of doing AppleCare+ or whatever it’s called, which would negate the need for phone insurance. So I’m considering if I can get travel and breakdown cover cheaper independently. But it’s convenient/cheaper to just have it sorted out in one account, I guess.
I’ve just been looking at the FlexPlus, currently got the Lloyds Platinum which gives the same benefits by the looks of things, but it’s going up to £19 a month for me! Not to mention the fact they froze my account this week due to their super over sensitive AML, and their tendency to cancel payments if you’re connected to a VPN. What is the Nationwide app like though out of interest?
TSB Classics Plus. No cost and no “extras” - but £10 cash rewards per month (DDs and card transactions) and now 5% interest on balances (upto certain amount).
Yeah, that’s why we chose it - at the time (August/September last year, roughly) it was one of the best options available for our needs. Took a few hours out of our day though to open the account - travel to & from branch, and sitting with an advisor, going through the paperwork and application process
Luckily for us, their problems the other week happened whilst we were on holiday, where we were using :mondo: for all spends. We haven’t actually suffered or lost anything
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Anarchist
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Same goes for the iOS app. I haven’t used it much, except for checking balances, but from memory, I think you have to set up payees on the website. And for that you need a good memory, or use the card reader.
My partner and I had a joint account at Drummond’s (part of RBS) it paid interest on positive balances, had sufficient overdraft, but other than that no gimmicky extras like airport lounges or phone cover, therefore you did not have to pay a monthly charge just to get those so called perks!