Here’s how to check if you’re getting the full package of a financial deal (Image: Getty Images)

Today we all want value for money.

Buy one get one free. Summer Sale: Saving when prices are falling is part of adjusting to rising prices.

It’s also a good time to review your personal finances and see if you’re getting what you’re paying for.

One thing that always raises the question of affordability is the integrated bank account. Several banks offer them, and you can add them to your “regular” bank account for a monthly fee.

Most banks that offer combined bank accounts include travel insurance, mobile phone or device cover and car breakdown cover, but the extra fees can cost up to £390 per year.

Which one to find out if it makes financial sense? We analyze monthly costs and the quality of coverage offered to analyze a large number of grouped bank accounts and determine which ones are worth paying. Yes, I have determined which account should be paid.

Nationwide’s FlexPlus account once again achieved the highest account score (82%) in the analysis, offering comprehensive coverage across all three key insurance components. It also has the lowest price (£13 per month).

We give the lowest score (59%) to NatWest and RBS Reward Platinum accounts, available only to existing customers. This is one of the most expensive accounts at £20 a month, but it scores the lowest for travel insurance.

Travel insurance is important to get it right. 70% of them? Members of pooled accounts say they consider this the most important feature. Still, the fine print is helpful. Some policies include health-based exemptions, which can result in a retest if there is a change in health status, which can increase the price of the policy.

Keep track of bank account transactions with mobile banking

A financial review is important (Image: Getty Images)

Many policies also have age restrictions. This means you could lose your coverage entirely or have your premiums go up. The level of Covid coverage may also vary depending on the insurance you offer.

Of the 199 travel insurance policies reviewed earlier this year, only nine offered “full” coverage in case your vacation was interrupted by Covid. This means that you can claim cancellation if you are unable to travel as a foreigner. Federal and development agencies advise against traveling to a destination (after booking a trip) due to Covid, or local or national travel restrictions.

For the bumbling among us, mobile and device coverage can often be a useful addition to a combined bank account. It covers theft and it is usually quite cheap to cover accidental damage to the home.

When tests showed that leaving home, items worth up to £2,000 added around 10% to his annual insurance premium. Standalone cover is expected to cost between £60 and £100 per year for an umbrella policy (based on iPhone 12 estimates).

Pooled accounts were widely sold off in the 1990s and 2000s, but banks have since cleaned up the practice. As long as your bank provides clear information about your account and important exclusions, you’ll need to decide if the fees are worth it.

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