Savings Account with Various Pots

[Spinal]

I seem to remember ING offering a bank account with multiple pots a few years ago, i.e. if I want to save £20K for a new car, £10k for a holiday and £300k for a house, I could set up one bank account and have 10% of my salary directed there.

Then, it would automatically split (in ratios I chose when setting up) the money poured in, until each "pot" reached its target. Once this happened, the money would go into the other pots...

That said, I can't seem to find any mention of this... any ideas? Am I thinking of the wrong institution? Or did I dream that up?

Is there anybody out there that still offers something similar? (without resorting to excel )

M.

 

[crockers]

so you want to save £330,000 by putting away 10% of salary?

When were you planning these purchases?

 

[A210AMG]

Hello

I'm with Barclays and I can do this with the accounts we have, you pay £15 a month I think but I can have loads of 'pots' and even call then what I want to. Then set up how much goes into each. It can be a different amount in each pot.

Seems to work very well.

It also has 'free' breakdown cover, gadget cover, heating cover, holiday insurance. Seems well worth it as my dad had to use the insurnace cover when he had an accident while abroad and all was very well done.


Worth a look.

 

[Piff]

Just looked at savings accounts in the last few days - amazing how the "best buys" of the past (ING, ICICI, etc) are currently paying p*ss poor interest rates - 0.5% compared to 2.8% on current "best buy" instant access accounts.

 

[oldcro]

so you want to save £330,000 by putting away 10% of salary?

When were you planning these purchases?

Must be very patient, that would take me weeks to save.

 

[del320]

I seem to remember ING offering a bank account with multiple pots a few years ago, i.e. if I want to save £20K for a new car, £10k for a holiday and £300k for a house, I could set up one bank account and have 10% of my salary directed there.

Then, it would automatically split (in ratios I chose when setting up) the money poured in, until each "pot" reached its target. Once this happened, the money would go into the other pots...

That said, I can't seem to find any mention of this... any ideas? Am I thinking of the wrong institution? Or did I dream that up?

Is there anybody out there that still offers something similar? (without resorting to excel ) M.

Well, lucky old you!

 

[Spinal]

so you want to save £330,000 by putting away 10% of salary?

When were you planning these purchases?

Now, that all depends on how much my salary is

Being serious though, I'm looking at putting a lot more than 10% a month... and not looking to buy a house I was just using random examples

Just had a look at Barclays - unfortunately I need to take out a mortgage with them... and I'm quite happy with my house, and no intention of morgaging it! at least I know they still exist!

M.