Ethical bank Co-op's Privilege Premier* account normally charges £13/mth for a selection of perks, but is waiving the fee if you switch to it before 15 January 2011. Co-op is also one of the best performing banks in customer service surveys (see below).
You must pay in £800/mth to get this account (equivalent to a salary of £11,200). It doesn't pay any in-credit interest, but does have a 0% overdraft of £300 - above that you'll pay 15.9% EAR. You can operate it any way you wish: online, in branch, or by phone/post.
The usual £156 yearly cost gets you an array of benefits; probably not worth it at full price, but a great deal while it is free - if you need them. Once the year is up, you can downgrade to a free bank account from Co-op, or switch to another bank. The perks are:
Travel Insurance. You get a worldwide family policy for the year, including winter sports cover. The cheapest you could normally get this for is £54 (read full Travel Insurance guide).
Breakdown cover. This is a Europe-wide policy that covers you if a vehicle breaks down - worth about £60 (read full Roadside Recovery guide).
Mobile phone insurance. This covers repair or replacement after theft, loss or damage, and insures four handsets up to value of £600 in total (so iPhones are possible). To buy this separately, the cheapest price would be around £50.
Technically this works by the £13 fee being taken from your account, then refunded back to you, but the overall cost is zero.