Bank account with 'jars'??

sarahgail

We currently have an account with Intelligent Finance. We really need to switch it as the interest is practically non existent. They are no longer opening new accounts so I'm sure it's only a matter of time until they close remaining accounts.


What I really like about the account is that we have various 'jars' within it, so we log in to our plan and we can see that we each have an account of our own then we have our joint account and within that we have a holiday jar, a car jar, an insurance jar etc.
Do any other bank accounts have this??

Thanks

Dan83

This question has been asked a few times, no one has an account like that (that I know of, nor have I seen an account recommended). I used to just have a few different on-line saver accounts and rename them to what I was keeping the money for.

realaledrinker

Excel works for me and the SUM function

Debsnewbudget

Halifax has the ability to open lots of savings accounts and then rename them
I have used this for 4 different "pots" and transfer back and forth
Not sure how it works with a joint account as well though.

My joint is with First Direct and I can see different accounts on there but dont think you can name them, you would have to just remember the account number

System

I use an app on my Mac and phone (Pocket Money from Catamount Software) and create accounts within it for my purposes and transfer money in and out. This is only actually happening within the app, all the money is still in my main bank account. and I don't mark the internal transactions as cleared so my cleared balance matches that with the bank but my pots are kept separate from my main account as far as I am concerned and my own working balance shows what I have to spend. Works a treat and is so easy.

unimaginative_user_name

Lloyds allow you to have up to five internet savings accounts which are a bit like the Intelligent Finance jars. You can rename them eg car, holidays, Christmas or whatever you like. The interest isn't brilliant but it's easy to transfer money in and out and save for those annual expenses which tend to creep up on us!

For decent interest it might be worth looking at the Club Lloyds current account and the Lloyds monthly saver both of which pay 4% on limited sums. There are terms and conditions though like a minimum monthly pay in and direct debits for the Club Lloyds but it might be just what you're looking for.

robotrobo

sarahgail wrote: »

We currently have an account with Intelligent Finance. We really need to switch it as the interest is practically non existent. They are no longer opening new accounts so I'm sure it's only a matter of time until they close remaining accounts.


What I really like about the account is that we have various 'jars' within it, so we log in to our plan and we can see that we each have an account of our own then we have our joint account and within that we have a holiday jar, a car jar, an insurance jar etc.
Do any other bank accounts have this??

Thanks

I have 2 or 3 jar accounts as you call them , running alongside my santander 123 accounts ,
1/ for the syndicate lotto account i run.
2/ for our dental health care.
and it works very fine for us , & yes i did have jar accounts with int finance some years ago.

sarahgail

Thanks for all the replies!

Anthorn

Most credit unions have jam jars. i.e. your wages, salary or benefits are paid in directly which is then split into the jars you have requested. The money in the jars can be paid out as standing orders on a specified date or saved towards a particular purpose. Mostly either free or a very low membership fee.
https://www.abcul.org

Duckyduck

TSB has this feature for savings accounts. You set savings goals and then allocate the money in your savings account between these various goals. It's really good. Unfortunately the rate n savings is only 1% or so, they have regular savers accounts at 5% but m not sure if the money planner feature works for that too.

lexia

With Barclays you can also change the display names of the accounts online, I use it like that too, to keep some of my money separately (childcare, holiday, savings).