The Co-op goes the extra mile to improve packaged accounts

The Co-operative Bank has introduced a number of improvements to its Privilege and Privilege Premier accounts.

In response to customer feedback, the bank has enhanced the most popular benefits on its packaged accounts, while removing some of the lesser used features.  

As of September 29th 2011, customers will benefit from greater breakdown cover, increased travel insurance limits and improved mobile phone and gadget cover. In spite of these changes, prices will be held at £9.50 per month for the Privilege account and £13 per month for Privilege Premier.

The main changes and benefits include:

UK and European Breakdown cover (Privilege Premier account)

Customers will now be provided with market leading cover from the RAC

Cover will now be provided on a personal basis meaning that account holders will receive assistance in any vehicle they are travelling in throughout the UK and Europe, rather than just for their nominated means of transport

For joint account customers, both parties will benefit from this level of breakdown cover at no extra cost

Travel Insurance

Travel insurance will continue to be provided by AXA, however customers will now be covered against airport closure and scheduled airline failure. This follows recent events such as the ash cloud crisis and increased industrial action by airline staff

Existing cover limits have also been increased across a number of areas

Mobile Phone insurance and Gadget cover

An improved process for mobile phone insurance has been introduced on both accounts and handset registration will no longer be required

Customers will benefit from increased cover limits for their handset, phone accessories and any unauthorised calls Handsets are also covered for any family member living in the same household, rather than just the main account holder

Maximum cover limits for gadgets have been increased from £300 to £1200, meaning that more expensive items such as tablet PCs and laptops are now insured

Lesser used features that have been removed from the accounts include the Discount Card, SpareKeys service and bag insurance. This follows a decline in usage.

Robin Taylor, Head of Banking for the Co-operative Bank, said: "Following the introduction of our packaged accounts three years ago we've been monitoring customer use and feedback closely to ensure that the benefits we offer still meet customer demand.

"Features such as the breakdown cover have proven really popular with customers so we've focused on really improving these benefits. With an average of 2,000 new current accounts now being opened with us each week, we've also recently introduced another 245 places to bank with us to the high street, so customers now have easier access than ever to the services they need," he added.