Premier bank account

A premier bank account is a packaged account offered by banks to their wealthier customers for a monthly fee. Banks sell these accounts to customers claiming they provide an ‘all in’ package for busy people, together with a named member of staff (‘your relationship manager’) whom you can contact for financial and tax advice.

You should be aware that most of these accounts require you to make a minimum monthly deposit of typically £500-£1,000. The incentives offered with premier bank accounts are not always of great value so unless you want to be labelled a ‘mass affluent customer,’ it may not be worth the £10-15 monthly fee.