High-street banks roll out airport lounge access, free physio and other premium perks to woo affluent customers

High-street banks are competing to attract wealthier customers with a growing range of premium current account perks — from worldwide family travel insurance and airport lounge access to online physiotherapy and discounts on solar installations — but some extras may deliver less value than specialist alternatives and deposit protection limits remain unchanged.

HSBC, NatWest, Lloyds and Barclays all offer so-called Premier accounts that typically require about £100,000 in savings or an annual income of roughly £100,000, although exact eligibility rules vary by bank. The packages bundle benefits that banks say reward loyal, higher-net-worth customers, and often include premium-looking cards and travel-related services aimed at frequent flyers and households with larger balances.

HSBC’s Premier account includes worldwide family travel insurance provided by Aviva that covers the account holder, partner, children and grandchildren, subject to age limits: the policy requires travellers to be under 70 when a trip begins, and children and grandchildren must be under 18 or under 23 if in full-time education. HSBC Premier customers can also apply for the HSBC Premier World Elite credit card, which carries a £290 annual fee and advertises features such as fast-track security, airport lounge access and reward points convertible to long-haul airline miles. Analysts note that a Priority Pass membership alone can cost about £377 a year.

Lloyds’s Premier package emphasises health and home savings. The account includes GP and wellbeing services provided by Bupa, with offerings such as online GP and nurse consultations, online physiotherapy sessions, mental health treatment sessions and fitness classes — services Lloyds and Bupa value at roughly £600 a year. HSBC provides a similar digital health package through Square Health that offers unlimited digital GP appointments, eight remote physiotherapy sessions, an annual health check per policyholder and counselling sessions.

Lloyds also promotes a home-energy perk: a £1,250 discount on solar-panel installation with Effective Home. Lloyds says that, with the partner installer’s typical price of about £8,500 for an eight-panel system with a battery, Premier customers could reduce the outlay to about £7,250.

Some banks have used enhanced interest rates as an incentive. NatWest’s Premier tier currently advertises 3.5 percent interest on balances between £250,000 and £3 million for 12 months, higher than the 2.28 percent it offers non-Premier customers on the same balance. But independent comparison shows specialist savings accounts can still pay more: for example, Paragon Bank’s Spring Savings account was cited in market comparisons at 4.3 percent on eligible balances. On a hypothetical £250,000 balance, that difference can amount to thousands of pounds in additional interest over a year.

"It could be more cost-effective to get travel insurance through the Premier bank account rather than purchasing the benefits elsewhere," said Rachel Springall of comparison specialist Moneyfacts. Andrew Hagger, commenting on HSBC’s card, said the product "is worth it if you’re a serious jet-setter because it allows you to apply for the HSBC Premier World which is a good credit card deal and has a wide range of travel perks."

Consumer advocates and advisers stress that the value of bundled perks depends on individual circumstances. The Financial Services Compensation Scheme (FSCS) protection — which covers deposits if a bank fails — remains capped at £85,000 per eligible person per institution regardless of Premier status, meaning customers with larger balances should consider spreading funds across multiple providers.

Banks also retain the right to change a customer’s status if eligibility conditions lapse. HSBC has said it will give 60 days’ notice before downgrading customers who no longer meet income or balance requirements; Lloyds has said it will not change an account without notifying the customer. Customers should review terms that govern third-party benefits, age limits for travel cover and minimum activity or balance conditions that can trigger changes.

The push for premium accounts comes as banks seek stable, sticky deposits and higher-fee credit-card customers in a market affected by higher interest rates and increased competition. While some perks can offset the cost of paid services — for example, insurance and lounge access — advisers recommend customers compare the standalone cost of specific services and savings rates before consolidating large sums with a single institution.

The details above are drawn from a This is Money report by Helen Kirrane published Sept. 14, 2025 and interviews with market analysts. Readers are advised to check current terms and conditions with banks and independent comparison services before making financial decisions.