What is PBA Full Form in Banking?
The PBA full form in Banking is Packaged Bank Accounts. It is a specialized bank account where the customers pay a monthly fee. In exchange for this fee, they will receive inclusive products such as travel insurance, mobile phone insurance, and breakdown cover. Another name for this type of bank account is also known as Added Value Account.
Services offered through Packaged Bank Accounts:
PBA offers services such as travel insurance, breakdown cover, extended warranty, and identity theft protection. Worldwide travel insurance can cover different aspects such as trip cancellations, lost luggage, medical expenses, etc. It covers loss, damage, and theft of mobile phones. It also offers roadside assistance and breakdown cover for the vehicle. PBA account holders get access to special discounts, and rewards on certain purchases and also entitle them to cash back offers.
Importance of packaged bank accounts:
Packaged Bank Accounts are designed to provide convenience by bundling services that would otherwise be acquired separately. Customers must, however, decide whether the benefits supplied are worth the monthly charge and whether they would use the included services.
Other Full Form of PBA in Banking
- Personal Banking Associates
- Payment Bank Account