Moneysupermarket: Abbey accounts customers could get benefits cheaper elsewhere

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Moneysupermarket: Abbey accounts customers could get benefits cheaper elsewhere

Holders of the new Abbey accounts announced yesterday could find some of the benefits cheaper elsewhere, comparison website moneysupermarket.com has said.

The website noted that packaged accounts are often justifiably criticised for making customers pay for banking with benefits that do not always suit them.

It noted that in the case of Abbey's Travel Reward and Family Reward bank accounts, consumers with the "time and inclination" may be able to find the benefits at less cost elsewhere.

As an example, it noted that Flexicover worldwide annual travel insurance for a family is £41.50, not £150 as Abbey claims.

But it added that the new Abbey accounts appear to be "well targeted" and said that people who do not wish to shop around would be well served by the products if they use the benefits available.

Abbey has said that its two new accounts, which carry benefits such as travel insurance and holiday and hotel offers, are designed to counter the criticism that added value accounts frequently provide benefits that customers use very little.

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