Which?: Packaged bank accounts waste of money

Published on 7 June 2010 by Raffick Marday

Which?: Packaged bank accounts waste of moneyPackaged bank accounts are not good value for money according to Which?

The consumer champion has included them in a list of so-called useless financial products saying they are often a waste of money.

Some can cost customers up to £300 a year. If you are not using the added extras, that is money that could be saved.

James Daley, editor-in-chief of the campaign group’s Money Quarterly says “Our research found that there’s a bunch of financial products on the market that most people really don’t need – but this doesn’t stop companies from trying to sell them.”

Which? recommends people do their own research and seek expert advice.

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