Refund call for bank account perks like travel insurance or breakdown cover that cannot be used during crisis
Banks should offer refunds on package account charges if customers cannot make use of the perks, campaigners say.
Package accounts come with a range of benefits, including travel insurance, car breakdown cover and airport lounge passes.
Customers pay £156 a year on average in fees, and around two-thirds of package accounts offer travel insurance, according to Fairer Finance.
Package accounts come with a range of benefits, including travel insurance, car breakdown cover and airport lounge passes
But many UK customers are now unable to travel and are driving less.
‘Banks should check packages to see if benefits cannot be used. If they can’t, they should make some kind of refund,’ says James Daley, of Fairer Finance.
He adds that premium credit cards which charge fees for travel insurance and lounge passes should also consider refunds.
One of the most expensive package accounts is Club Lloyds Platinum, costing £288 a year with perks including travel and breakdown cover.
The American Express Platinum account has an annual fee of £575 and includes travel cover and airport lounge passes.
A spokesman says: ‘We are offering Platinum Card customers double rewards on spending.’
Lloyds says its travel cover perk is being used more than ever due to cancelled holidays.