With my bank, I can create virtual savings accounts within my account and I can distribute the money as I want. So a “folder” for long term savings, another for emergencies, another for traveling, etc.
I’m not in the US. But mine are like sub accounts within one savings account out of convenience. I could open more, but I have no idea of there is a limit.
Some US financial institutions offer similar services. Mine doesn’t, but I know I’ve seen ads for it like it was some cool new technology a few years ago.
With my bank, I can create virtual savings accounts within my account and I can distribute the money as I want. So a “folder” for long term savings, another for emergencies, another for traveling, etc.
How large is the hurdle for founding one
Do US banks have limits on how many accounts you have?
I think you run out of numbers at 99 here in NZ but otherwise most banks will let you have as many basic everyday or savings accounts as you want.
Edit: BNZ says there’s a limit of 25 transaction accounts for them.
I’m not in the US. But mine are like sub accounts within one savings account out of convenience. I could open more, but I have no idea of there is a limit.
Some US financial institutions offer similar services. Mine doesn’t, but I know I’ve seen ads for it like it was some cool new technology a few years ago.