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  • FIRST POST
    • gilbutre
    • By gilbutre 17th Oct 16, 1:20 PM
    • 314Posts
    • 49Thanks
    gilbutre
    Separate bank accounts for easier budget management
    • #1
    • 17th Oct 16, 1:20 PM
    Separate bank accounts for easier budget management 17th Oct 16 at 1:20 PM
    I'd like to open separate bank accounts dedicated to specific expenses, for example one account just for all car expenses (gas, repair, mot, tax...)

    For those not finding this idea absurd: which banks have a smooth account creation process and few conditions?
Page 1
    • TheShape
    • By TheShape 17th Oct 16, 1:50 PM
    • 867 Posts
    • 616 Thanks
    TheShape
    • #2
    • 17th Oct 16, 1:50 PM
    • #2
    • 17th Oct 16, 1:50 PM
    Sounds slightly absurd to me but notwithstanding my personal opinion I found it straightforward to set-up two Tesco current accounts. They both pay 3% in credit interest with no conditions. You won't have branch access though.
    • sysadmin
    • By sysadmin 17th Oct 16, 1:54 PM
    • 132 Posts
    • 74 Thanks
    sysadmin
    • #3
    • 17th Oct 16, 1:54 PM
    • #3
    • 17th Oct 16, 1:54 PM
    I kind of do this with the halifax for things that im saving for

    I have separate accounts for savings such as

    Christmas,
    Car (MOT, Service, Tax)
    Holiday
    Birthdays

    Each account has a standing order going into it on Payday. This was it makes me save and I dont notice that its gone.
    • LuSiVe
    • By LuSiVe 17th Oct 16, 2:06 PM
    • 895 Posts
    • 977 Thanks
    LuSiVe
    • #4
    • 17th Oct 16, 2:06 PM
    • #4
    • 17th Oct 16, 2:06 PM
    You'd probably be better off with whatever the best interest-paying account is now and a spreadsheet to keep track of the balance intended for each class of purchase.
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