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Home loan provider launches new account

16 June 2005

HSBC has launched the new Bank Account Plus which offers fee-paying customers a package of benefits.

The account gives clients family travel insurance, free access to cash machines abroad and extra protection against identity fraud.

But these services come at a cost - £9.95 per month to be precise.

That rate is until the beginning of next year when the fee increases to the standard rate of £12.95.

The head of HSBC's customer proposition, Joe Garner said: "HSBC has always helped its customers save, and with the recent launch of our eight per cent Regular Saver, we are helping them to save very effectively. Now we are helping them spend effectively too.

"Giving extra choice, and offering tailored solutions for people with particular needs, HSBC's Plus account will clearly suit people who either love to travel or are worried about the impact of fraud."

With Britons spending over £13.5 billion on holidays last year it is hoped the account will appeal to families who like to travel as it offers comprehensive worldwide family travel insurance.

Continuing with the travelling theme, there is also commission-free currency and travellers' cheques for customers of the Account Plus and up to 50 per cent off UK hotel bookings.

However, the account was recently criticised by Alliance & Leicester.