Any top payers allow multiple savings accounts?

essexsi_2

Hi all,

I am looking to manage my money more effectively. Instead of having one account with all my savings in, I would like multiple accounts with names such as holidays, car, insurances etc. I think this would help me budget better!

Any of the top payers such as Kaupthing Edge allow this?

All the best Si

nzseries1

Certainly not Kaupthing Edge. And I don't think Bradford and Bingley or FirstSave either.

Is there any chance you could do a spreadsheet, put each thing you're saving for in it's own column and assign the money (by writing it under that particular column) to each of your things, all the while keeping it one account? That works for me. Look at your spreadsheet every day so you can see it building up and be inspired :-)

essexsi_2

Thanks for the reply nzseries1.

Good idea with the spreadsheet but not too sure I would keep it bang up to date. Lazy! Think I would prefer to log in and then see each account on the same page with differing amounts.

Perhaps I could open one savings account with KE, B&B etc and name each account car, holiday etc.

Think it would be much more convenient to have one decent paying account that allows multiple nick named accounts. Anyone know one?

Cheers Si

dzug1

I'm fairly sure ING allows this - though they are no longer among the top payers they aren't worst by a long way

SiuLoong

Sainsbury's allow you to have multiple accounts and pay 5.5% currently. Having said that I prefer multiple accounts to split my money and just use different providers, so stooze money with Kaupthing Edge, wedding savings with Birmingham Midshires, other savings with Bradford & Bingley etc.. but I also use a spreadsheet to manage what is where etc..

jem16

Birmingham Midshires e-saver account allows multiple pots/accounts - rate is 6.52%.

Only thing I don't like about it now is that interest is paid out of the account so you don't get the full benefit of that rate.

I've moved to the spreadsheet idea - you can get one on here if you search for posts by EagerLearner. Very easy to use and I think will make moving accounts much easier to follow better rates.

moneymass

Spreadsheet Topic here

Needed it myself.

essexsi_2

Thanks for taking the time to reply.

Thanks for the link, I will have a good read through that thread. I take it the premise is that you keep all the savings in one pot, chase the rates but keep things separate on the spreadsheet.

I'm not saving a huge amount, it's just nice to see it grow gradually and have everything accounted for.

All the best Si