Lloyds, Halifax and Bank of Scotland packaged account fees rise from January

[Benzema]

Some packaged bank account customers will pay more from the new year. MoneySavingExpert reports that Lloyds, Halifax and Bank of Scotland are raising fees on several packaged accounts from 13 January 2027

Lloyds Silver and Club Lloyds Silver go from £11.50 to £13 a month, an extra £18 a year. Lloyds Gold goes from £16.95 to £19.50, and Platinum from £22.50 to £25

Halifax Ultimate Reward rises from £19 to £21.50, and Lloyds Premier accounts opened before 2014 go from £29 to £32. Premier accounts opened since 2014 are not affected, and neither are Bank of Scotland Gold, Premier and Ultimate Reward

MSE suggests alternatives such as Nationwide FlexPlus at £18 a month with a £175 switching bonus, or Co-op Everyday Extra at £12 a month. Separate breakdown cover can cost under £60 a year

Packaged accounts are only worth it if you use the benefits, such as travel insurance and breakdown cover. A fee rise is a good prompt to check whether buying cover separately would be cheaper. Switching banks is easier than many people think, and bonuses can make it worthwhile

Do you pay for a packaged bank account? And have you worked out whether it is good value?

Lloyds Packaged Account Fee Hikeswww.moneysavingexpert.com