Account with multiple sub-accounts

mike79

Registered User
Messages
17
As part of my budgeting / saving I would like to setup a regular savings account with the option of creating multiple sub-accounts off of it.
For example, I might want one sub-account to be 'Holiday' another to be 'work clothing' another to be 'vet bills' etc.

Does such a thing exist either through a regular bank or online bank?

Thank you for reading.
 
You can open as many accounts as you wish and designate them to your requirements, they will have separate account numbers and are separate for all purposes other than your own, set up online banking and you can transfer funds over / back and view these as you require.
 
Rabo direct allows you to create several extra accounts on the fly, once you have done the initial setup. Can't remember the limit though.
 
I have, in principle, something similar.

It's a standard demand deposit account, but I keep a track on a spreadsheet of what the individual bucket totals are, e.g. Holiday, Car expenses

Week 1, Lodge 400, Balance = 400, Holiday = 200, Car = 200
Week 2, Withdraw 300 for car tyres, Balance = 100, Holiday = 200, Car = -100
Week 3, Lodge 400, Balance = 300, Holiday = 400, Car = 100