Martin Lewis reveals how bank accounts could save you on insurance
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The money saving expert said viewers could potentially save hundreds of pounds with one simple trick.
He said: "Some bank accounts aren't really bank accounts they're packages of insurance with a bank account pegged on. These are known as packaged bank accounts and they have a fee.
"For many who are upsold them without need, they're a waste of cash and you should go for fee free banking, but if you'd be shelling out for the insurance anyway they can be a winner.
"In recent times, Nationwide and Halifax have been vying for top spot, but now Halifax is hiking its fees from £15/mth to £17/mth on 1 July (though you can reduce the fee by £3/mth by jumping through some hoops).
The key is to work out which of these policies you would normally buy separately and add up how much they cost per year, then compare to simply paying the annual fee
Martin Lewis, Money Saving Expert
"The key is to work out which of these policies you would normally buy separately and add up how much they cost per year, then compare to simply paying the annual fee."
Getting in to the details, he said: "So for most people now, the top pick is Nationwide’s FlexPlus account which has a £13/mth fee, and gives world family travel insurance (including business, winter sports and golf cover) up to age 74, family smartphone insurance (so covers all living at home) and European breakdown cover for you in any car.
"A family of four needing all this could pay at the extreme end £700 a year separately (though even £400 worth is good value) so this is a good deal if you're going to use it.
"Plus you get there per cent AER variable on balances up to £2,500, and extended warranty on new-ish electrical goods.
"However, if you were sold one, check if it’s worth it or if you're eligible for the benefits."
Martin Lewis, money saving expert, explained how to get cheap insurance
Martin had other deals to share, including how to spend less on theme parks.
He explained: "The new price for this year's annual season pass for Thorpe Park is £49 (same for both adults and children) for the year, which you can buy at the park gate or online.
"Yet this is actually cheaper than the peak time full-price on-the-gate day ticket which is £55 adult (£50 for children) – so if you're going to be going more than once, buying the pass is worth it – though it only gets you into that park, not any others.
"The same with Alton Towers, where the pass costs £55 (though it expires Nov 2018) but the on-the-gate ticket costs £55 adult, £48 child.
"Though, if you're only going once, then there are usually 2for1 vouchers you can get on certain cereal boxes you can use to bring down the cost."
Martin Lewis, money saving expert, highlighted Nationwide as a good choice for insurance cover
Finally, Martin shared how to get a free luxury face cream. He said: "Buy the May edition of Marie Claire magazine (£4.20) by Wednesday 9 May, and in it you’ll get a 15ml Elemis pro-collagen marine face cream freebie – which based on the £80 (gulp) 50ml full-size version, would set you back around £24 .
"This is only available when you buy the magazines in a shop and not if you're sent it through a regular subscription."
For more deals from Martin, sign up to his newsletter here .
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