A change to banking rules will save customers wasting money paying for bank accounts packaged with extras that some people cannot even use will come into effect in March next year. New rules demanded by the Financial Services Authority (FSA) will require banks and building societies to check whether customers are actually eligible to claim on insurance cover before selling them the fee-paying accounts. Sheila Nicoll, FSA director of policy, said: 'These products are often referred to as upgraded accounts but if you end up paying for an element you can’t claim on, it’s money down the drain. 'We are closely monitoring the promotion of packaged bank accounts and the new rules will make sure customers know what they’re buying and that they can rely on the product or have the limitations explained before buying.'..........Read more here: FSA crackdown on banks selling accounts with extras some can't use