bank account with 'pots'

Jacko_amz

Hi everyone!

I'm on my way to sorting my finances and clearing my pesky debt, I would like to open a new bank account which i can divide up into separate pots within that account. instead of having 5 different bank accounts. is there such bank accounts out there? i don't want one with an overdraft as i'm working to clear my current one.

Thanks in advance
Amy x

colsten

Much easier to do virtual pots with a spreadsheet or a budgeting app, e.g. YNAB.

Jacko_amz

i'm rubbish at spreadsheets though, I would like an account where i can put different amounts of money into set pots.

alanq

This topic often comes up. If you use the advanced forum search on Savings & Investments for threads with titles including "pots", "jars" and "sub-accounts" you will find some previous (though dated) replies that may prove useful.

166million

I have a Natwest account which I manage online and several e-saving accounts which I use as 'pots'

Jacko_amz

166million is that all under one account?

knack92

Jacko_amz wrote: »

166million is that all under one account?

I imagine the poster has one current account and multiple savings accounts. They will have one login for NatWest which will show all these accounts and allow instant transfers between each.

I have a current acount with Royal Bank of Scotland and two (empty) savings accounts I've not got round to closing yet. Below is how the mobile app looks for me. Where it says "direct saver" and "savings" can be changed to the name of your specific pot.

Obviously this isn't exactly what you are looking for but if you can't find such an account and don't care about interest then a current account and multiple savings accounts would work well.

166million

Jacko_amz wrote: »

166million is that all under one account?

As per knack92's post

Archi_Bald

It's painful to see people thinking about zero and next-to-zero % interest accounts for their savings when they could very easily get 5%.

Saving in pots / jars / etc accounts should really be old hat in an age where most people have PC and smartphone access. There are tons of very simple to use, and often free, budgeting apps about that are a lot more empowering than using outdated methods to manage their money.

People are sometimes their own worst enemy when it comes to money.

fuzzgun19

Can you recommend any of these apps? I've never heard of this.

Jacko_amz

How do I close threads? I asked a question but people seem very intent on enforcing there opinions about the topic than helping me.