Packaged current accounts compared

Which? have rated a number of packaged accounts and, unsurprisingly, Nationwide FlexPlus has come out top. Monzo Plus didn’t make the list.

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Despite the very disappointing news that Nationwide are axing the Flexplus current account interest, purely because of the insurance package, we (my Wife and I) won’t be ditching our joint account with them. The reason is simply because it would cost us more in annual travel insurance if we had to buy a separate policy from elsewhere that offered us the same cover as that which the Nationwide policy offers. We’re both in our fifties and so obviously the cost of insurance is rising as we get older. I also do a fair bit of scuba diving, so I need adequate cover there.

We also both need the breakdown cover aspect just in case we break down. Both our vehicles spend a good deal of time on the motorway and so we need the recovery aspect if the worst happens.

As for mobile phone insurance, well be both have iphone XR’s bought outright from Apple, so if something happens there, again setting aside the compulsory excess, we should be covered.

I guarantee if we didn’t have the Nationwide package, we’d be paying a whole lot more than the £13 a month.

As for the in credit interest in the current account, well I’m stunned that apparently so many Nationwide customers decided it was one of the least needed features of the account, that to me is rather bizarre. But I cannot complain, I didn’t vote so I had no say. I can see why Nationwide would be happy though. They must have had literally hundreds of thousands of customers that kept a very healthy balance creaming off £6.08 a month in interest and basically offsetting that against the cost of the package, so effectively only paying £7 a month for the insurance package. That’s why it’s being stripped in my opinion because that is exactly what was in my own mindset. Well they’ve stuck two fingers up at folks like me!

Fee free debit card use abroad? I’d rather use my Starling Bank debit card every time, especially when I get immediate notifications of exactly how much I’ve spent. Don’t get me wrong, I’ll now take our Nationwide debit card with us for use in absolute emergencies, but I doubt we’ll make use of it.


It does sound like it is still good value for you.

I’ve just this morning changed from FlexPlus to the FlexDirect. It didn’t add up for me regardless of the changes that are coming.

I get breakdown included in my car servicing and don’t need European cover. My mobile phone is covered on home insurance under personal belongings which costs me an extra £10 per year, and it’s about time I stopped paying for travel insurance which is only ever useful to me when I am on a business trip and the company I work with should be paying for that really (which they will do).

As for purchases and cash outside the UK, I’ve got plenty of options for that.

Nationwide cover scuba diving? If so that’s some really good cover that they offer, no wonder people use them.

Taken directly from their policy wording:

SCUBA diving (to a depth of 30 metres and only where you are a qualified diver and you are accompanied at all times by another qualified diver or, if you do not hold a SCUBA diving qualification, you are accompanied at all times by a qualified diving instructor

I’m a qualified PADI Advanced Open Water diver(to 100 feet) and I’m always accompanied by a fully qualified diving instructor. Because the groups that I dive with tend to only be qualified to 18 metres, I rarely see 30 metres unless the diving instructor has a group of advanced divers with him/her, and then they’ll take us down to 30 metres.

It should be noted, that shark cage diving is NOT covered under normal circumstances unless extra cover has been purchased. Shark cage diving is not on my list of things to do, ever. I see the occasional shark and that is enough for me.


That seems quite good, ive frequently seen travel insurance excluding almost all activities that might be even remotely dangerous.

This is where reading the policy wording of travel insurance policies is absolutely paramount. You would not believe the amount of travellers that nip off to far flung corners of the world and then throw themselves off of extremely high bridges (as an example) whilst doing a bungee jump and they’re not even covered if something goes hideously wrong. Many people just don’t even think. It’s like going swimming off the beach when the red flag is flying, even when there is a lifeguard in attendance. Break your legs or back entering or exiting the water under such circumstances, gives your insurance provider an absolute get out clause.

If I were to do any ‘specialist’ diving of any sort, I’d have to purchase hazardous activities cover, probably for a substantial sum.

The travel insurance element of FlexPlus is excellent, I’m currently mid-claim as I was unwell in the US and had to get medical treatment.

The breakdown cover is also excellent - used them when my wife’s car broke down a few months ago.

As for the mobile insurance, that’s the best part! I’ve just sent off my wife’s phone to have the screen repaired - she dropped her Pixel 2XL a couple of days ago and smashed the screen. I should have it back good as new in a few days. £25 excess.

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£25! That’s amazing. Lloyds is £100 :confused:

I took the dive and signed up to FlexPlus a few days ago – purely because of the phone insurance, well worth it.

Signed up to their phone portal thing and registered all phones, if something was to happen is it really easy to claim? How fast is the turnaround?

There’s a phone portal? :thinking:

Takes about 5 min to fill in the claim.

Turnaround is extremely quick. I think in my case I sent my phone away on the Tuesday and got it back on the Thursday two days later.

I assume he refers to this: it’s a terrible portal,but gets the job done, I guess…

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Really easy and quick. I made 2 claims and received fixed phones back in 2-3 days after postage.
And really good thing: in both cases they haven’t asked for any paperwork (proof of purchase and ownership like Barclays Tech Pack… )

Damn, impressive.

Yup. Extremely slow but works I guess.


Well I’ve got flex plus and I never knew about that lol

I think you can do all the claims process on the phone? Given the slowness of that portal, it might even be quicker to do that :smile:

I’m just looking at packaged accounts now, in particular the Nationwide FlexPlus and Yorkshire/Clydesdale Signature accounts.

I don’t need the family cover aspect of the FlexPlus account, and I see the Signature account also includes gadget cover and MyRewards (discount at some highstreet stores).

Before the announcement that Nationwide are dropping the 3% interest it would be a no brainer, but now the price will be £13 (Nationwide) and £13.50 (CYBG).

Does anyone have experience of the Signature account at all?

Just be careful with that one, @dave.b - I also thought my mobile was adequately covered but after I smashed my phone last year I realised that the excess was £200 and the maximum value of the phone was £500, so really it was pretty useless; on my £600 phone I’d have effectively only got £300 from the insurance, which would doubtless have been offset by any subsequent rise in premiums for the next few years for making a claim. I’m sure you’ve checked (unlike me - schoolboy error!) but just a heads-up :slightly_smiling_face:

Agree @danmullen, their limits, cover, and the way in which they assess pre-exisitng conditions are all absolutely standout in comparison to competitors. Even if I could get an annual policy cheaper elsewhere I’d think very very carefully before moving away.