In a shake-up of its current account range, NatWest/ RBS has introduced a new packaged account and scrapped the Advantage Blue and Royalties accounts for new customers.
The new packaged account is called Select Silver and will cost £8 a month, compared to £6.95 for the Advantage Blue and Royalties accounts which it replaces.
The Select Silver account will be available to new customers and existing customer who want to switch, although customers with the Advantage Blue and Royalties accounts who want to stay put can do so for now.
So is the new account worth the extra £1.05 a month?
Bank account benefits
The Select Silver account will cost holders £96 for the year. For that, you’ll get European Annual Travel Insurance, worldwide mobile phone insurance, identity theft assistance, LOVEFilm DVD rentals and hmvdigital music downloads. Unlike the Advantage Blue account, this packaged bank account deal doesn’t offer car breakdown cover.
You can download up to five tracks from hmvdigital a month and rent up to three DVDs or Blu-rays a month from LOVEFiLM with the Select Silver account. Someone making full use of the LOVEFiLM rentals and HMV music downloads would save around £52 a year without using any of the other benefits on offer.
Melanie Green, banking expert at Which?, says: ‘It’s good to see that NatWest/RBS has got rid of some of the less useful benefits of its packaged current accounts, such as the card protection and accidental death insurance offered by the Advantage Blue and Royalties accounts.
‘As with all packaged accounts, whether this deal is worth it depends on how many of the benefits you think you’ll use. Before committing yourself to a monthly fee for your banking, do consider how many of the benefits you will realistically take advantage of on an ongoing basis.’
At the same time as introducing the Select Silver account, NatWest/RBS has renamed its main current account the Select Account, replacing the Current account from RBS and the Current Plus account from NatWest.
The Advantage Gold and Royalties Gold accounts will now be known as the Gold account. The terms and benefits available to account holders will remain the same.
For more information on choosing a bank account take a look at the Which? Guide to finding the right bank account. You can also compare the market’s leading bank accounts, and find out which banks our members rate most highly, by visiting the Which? Best Rate current accounts review.
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