Customers pay a fee for a packaged bank account, and are offered a range of 'inclusive' benefits, such as travel insurance, mobile phone insurance and breakdown cover.
Package bank account fees generally range from £10 - £30 a month (with some accounts charging even higher fees).
The Financial Conduct Authority reported that some banks were offering staff incentives, which encouraged them to mis-sell products, such as bank accounts to customers.
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MR C from Wells