In recent years there has been a boom in the number of bank accounts that will offer you benefits for a fixed fee every month. If you are paying for benefits, then it is important that they are worth that extra bit of hard earned cash.

So, what can you do to get the most from accounts with benefits?

The first thing you need to work out is whether the extras offered by the account are things that you need or really want.

Most basic added value accounts, such as the Lloyds TSB Select Account, cost anything between £6 and £9 a month and tend to offer things like: 

• Small interest and fee free overdraft facilities
• Preferential rates on higher overdraft facilities, loans, mortgages and insurance
• Basic breakdown cover 
• Mobile phone insurance 

There is the option of spending more money per month and getting higher level benefits from a premier added value account which cost between £10 and £25 per month. These accounts, such as the Barclays Additions Plus Account, offer extras like:

• Family travel insurance
• Higher value interest and fee free overdraft facilities
• Comprehensive breakdown cover
• Card and identity theft protection 

To get the most of these accounts you might want to consider:

1. Which account offers the most useful things for the lowest monthly fee
2. Which of the benefits you are most likely to use – if you don’t have a car you won’t need the breakdown cover
3. Whether they are things you could get for free from other accounts or services – some accounts have small overdrafts for free as a perk of the account.