Customers will be assessed to see if they are eligible for the insurance element of packaged bank accounts before any sale, under planned rules. Packaged accounts usually charge a monthly fee for added benefits such as insurance or ticket discounts bundled with a standard current account. The Financial Services Authority (FSA) says one in five UK adults has such an account. But it says some consumers are being sold accounts that they may not need.

Bundles
The sale of packaged accounts by banks and building societies has been a source of concern for the regulator for some time. It wants to ensure they do not become the latest ....Read more HERE