NatWest is increasing the monthly cost on some of its packaged bank accounts - in a move that will cost customers up to £60 a year more.
Packaged bank accounts are a type of premium account that come with additional features such as insurance cover - but you have to pay a monthly fee. NatWest is increasing the monthly fee for its Reward Black account from £31 to £36 a month, from June 28. Some of the features for this account include worldwide family travel insurance, access to international airport lounges and UK and European car breakdown cover.
NatWest customers can also get £9 a month back in "Rewards" on two direct debits and £1 a month back in "Rewards" when you log in to our mobile app. When you earn £5 in "Rewards" you can bank this into your NatWest bank account, or exchange it for a gift card.
NatWest is also increasing the monthly fee on its Reward Platinum account from £20 to £22 a month, also from June 28. With this account, you get mobile insurance, UK car breakdown cover, worldwide family travel insurance and fee-free debit card purchases abroad. You also get £4 a month back in "Rewards" for two or more direct debits, and £1 a month back in "Rewards" when you log in to our mobile app.
The monthly fee on the NatWest Reward Silver account will remain the same at £10 a month, as will the £2 monthly fee for the NatWest Reward account. A NatWest spokesperson said: "We're making some changes to the monthly fee with some of our packaged accounts. The cost of providing the benefits associated with these accounts has risen considerably in recent years, and we have frozen our prices for the last five years."
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Packaged bank accounts aren't right for everyone, for example, you may not necessarily need all of the additional extras that come with them. If you were mis-sold, you may be entitled to money back.
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