Most UK banks offer a packaged current account are these accounts really good value for the monthly fee incurred and will any of these accounts really offer you a better service than a ‘normal’ current account. It seems quite good at a glance; you pay up to £25 for what’s called a ‘packaged’ current account. These accounts offer a better interest rate, maybe some benefits and better rates on overdrafts and lower fees etc. However all is not as it seems…

If we do get forced into a market where the banks charge us a monthly fee for our current accounts then I’m afraid there’s nothing much we can do about it. It will be interesting to see what the banks put forward as the first range of fee charging current accounts. Personally I’m not interested in paying for additional services like travel or motor breakdown insurance, I’m perfectly capable of sourcing additional products like that myself and you never get anything for free. If it seems to good to be true it usually is!

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