Are they worth it?

If you had asked me this question six months ago i would have said no without really knowing a great deal about them but having recently done some research on premium and premier bank accounts my views have changed and i now have a premier bank account.

What are Premier Bank Accounts?

They are like a normal bank account but instead of not paying a fee if you stay in credit you are charged a monthly fee and get a few extras thrown in. It is these extras that potentially make these current account worthwhile. Below are details on some of the premier and premium bank accounts available in the UK.

Halifax Ultimate Reward Bank Account
Key Features that come with the account (are a few others as well)	Estimated Monthly Cost if purchased individually
Worldwide multi trip insurance for two adults and children   RAC car breakdown cover   Mobile phone insurance for home and abroad   1% Higher rate on interest on your current account balance than paid on Halifax instant saver account   £300 interest free overdraft	£13.40   £ 5.00   £ 5.80   £ 0.40   (depends if you currently get charges for going overdrawn)   £24.60

The Halifax Ultimate Reward Current Account Costs £12.50 per month but as the example above shows it can actually result in financially savings (£12.10 per month). The example above is based on a family who have annual worldwide travel insurance and the savings would be different if for instance you only take single trip travel insurance for Europe each year or you don't have RAC or AA cover. But do the figures according to your own situation and like me you might be surprised at the savings these accounts can give. (The figures shown for comparison purposes were quotes given on the internet and your own might be higher or lower than the ones i have shown) I will look at others and add them to the page in the next few weeks to see if they too are worth considering starting with the HSBC Advance Bank Account Details on the Alliance and Leicester Premier Current Account are here and it gives free european travel insurance with no monthly fee.

HSBC ADVANCE GREEN ACCOUNT

No sooner have i decided to do a review on it when they offer it for the first 3 months at half price  rate of just £6.47 per month for the first three months ! if the benefits of the HSBC Advance Current account are anything like the halifax ones then this account will need some serious consideration. We have now looked at the HSBC Advance current account and for us the benefits make it a better option than the Halifax premier account. plus currently they are offering a deal on it. Review of the HSBC Advance current account can be found here Bank Account Plus