Setting up Multiple Sub Accounts

K09

Hi,

Does anyone know if it is possible to set up multiple "sub accounts" of a current account.

So I already have a current account and a savings account.

However, I would like to have multiple accounts such as... "House Savings", "Holiday Savings", "Car Savings", etc...

These need not necessarily be actual savings accounts. Is it possible to set up accounts like the above?

Thanks.

BuffyBot

No, not that I'm aware of with any bank

unclebill98

You can have as many accounts as you'd like. You could have multiple savings accounts and on most online banking you can name them so you'll know whats what.

dotsman

I'm not sure what you are trying to achieve OP.

Is it that you are trying to divide your savings between several different "savings goals"? If so, could you not just divide up the one account by ratio. i.e. that in this savings account: "50% is House Savings, 25% is Holiday Savings etc." If you wanted it to be more complex than that, you can just track the various balances on a spreadsheet. Many businesses will have multiple department/team budgeting "virtual" accounts that only exist on paper. The balance of all these accounts add up to the balance of the one real account.

Failing that, if you do want multiple real accounts, I would advise caution setting up multiple current accounts as, for them to be free, most require certain criteria to be met, which would probably not be in your case. Better to go with a savings account you can transfer money into and out of easily.

K09

unclebill98 wrote: »

You can have as many accounts as you'd like. You could have multiple savings accounts and on most online banking you can name them so you'll know whats what.

Do you know if this is possible with aib online banking? Thanks.

dlambirl

K09 wrote: »

Do you know if this is possible with aib online banking? Thanks.

Yes. You can open (online) savings accounts and name them. I have a current account, joint account and 3 online savings accounts on my AIB online banking. I use my savings accounts seperately for things like, House Bills, Car Bills, Wedding Fund

Random

with rabo you seem to be able to create numerous accounts online too and name them so look at that option too.

delos

K09 wrote: »

Do you know if this is possible with aib online banking? Thanks.

I'm with BoI and the requirement to keep them free is to make a certain number of online transactions per quarter (3 from each account I think). The way I get round this is to move money between the accounts a few times on payday which keeps me covered. All very pointless but as long as you are methodical you can keep the fees away I'm sure there will be something along these lines with AIB too.