Poll
Latest Reviews
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Appalling customer service from Alliance and Leicester premier current account by meringue87
18-Jun-08 -
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Did you know?
The average family car now costs £5,627 a year to keep on the road
Source: Credit Action (www.creditaction.org.uk)
Added Value Accounts
Added value accounts are current accounts that for a monthly fee give you more features and benefits. The attributes of a standard current account can be quite basic so to enhance them some banks offer added value current accounts with a variety of benefits. Read more...>
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Alliance & Leicester Premier DirectFeature packed current account with a superb interest rate + benefits |
8.50% | £500 |
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HSBC BankFree telephone banking and 24/7 Internet access |
2.50% | - |
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HSBC PlusFee free cash withdrawals worldwide and family travel insurance |
8.00% | £1 |
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Intelligent FinanceA great current account with the benefit of offsetting |
2.75% | £500 |
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Some banks offer an increasing scale of benefits for different levels of value added account with a corresponding increase in fees.
The type of benefits that can be available through added value accounts can include interest free overdraft facilities that have a capped overdraft amount that increases with the different levels of account. Other added services might include car breakdown cover, travel insurance, mobile phone insurance, home emergency cover and ID theft protection.
Like any offers and incentives it’s worth calculating if you will actually use the benefits and if that what you gain will justify the fee. By carefully comparing and matching your account to your needs it can be possible to save money.
Top Tips
- If you have a current account but it doesn’t give you all of the facilities that you need look around at added value current accounts
- Overdraft options tend to be a popular feature of added value current accounts and it may work out much cheaper than going accidentally overdrawn on a standard current account
- Although they seem relatively small there are fees associated with added value accounts so make sure they make financial sense for your lifestyle
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