Savings account with connected subaccounts ?

amateurman

I have used ING Direct's saving account for a while and find the subaccount system very useful to save for specific needs (car, holidays, giving to charity etc). But I am not as confident about ING's credit quality as I was and would prefer to be with a provider operating purely under the UK compensation scheme, not the Dutch equivalent.

Does anyone know of alternatives ie a "parent" savings account which allows the creation of multiple sub accounts linked to it.

Thanks.

Lokolo

Can you not have 1 savings account and then a spreadsheet?

So total in savings is £10,400

In your spredsheet you have

Car: £5,000
Holiday: £4,200
Home Improvements: £1,200
Total: £10,400

amateurman

Yes I suppose that would work. But with ING I had 10 subaccounts, monthly standing orders to top each one up, occasional moves between them, interest credited to each one each month ie it was just very convenient and worked by itself (great for the time-poor / cash-rich). When ING's creditworthiness became a concern I amalgamated it all and moved it elsewhere in one bloc but six months later the discipline of the regular saving, correct allocation between accounts etc had broken down through my laziness.

Plus I do spreadsheets all day at work and would sooner not in the evening ! But thank you for the suggestion - if I cannot find a safer alternative I guess I'll have to do it myself.

Thanks for your answer.