The number of packaged
current accounts currently available has almost doubled over the last four years, new figures have revealed.
According to a study conducted by the independent financial researcher DeFaqto, there are now 94 per cent more of this kind of product than in 2006.
Furthermore, the range of packaged deals on offer from banks and building societies has overtaken the number of standard accounts available for the first time.
The most common benefit offered with a packaged account was found to be commission-free foreign currency, an incentive offered by 91 per cent of lenders.
Other benefits regularly featured in such products included free
travel insurance and breakdown car cover, which were offered by 81 per cent and 59 per cent of lenders respectively.
David Black, a banking expert at Defaqto, said the wide range of accounts available can only be good news for potential customers.
"We've seen a big increase in the number of packaged
current accounts available with many banks now offering a range of different account options with the monthly fee charged being based upon the level of benefits and incentives offered," he said.
