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13 best vacation savings accounts for November 2023

These top savings accounts offer high APYs and savings tools to help you meet your vacation goals sooner.

The best vacation savings account offers a high APY or built-in goal-tracking tools to help you visualize your progress and stay motivated as you save. We reviewed over 140 digital and savings accounts and curated a list of the 13 best accounts to help bring your vacation savings plans to life.

Our top picks

Earn 5.25% APY

Go to site
on UFB's secure site

  • 5.25% APY
  • $0 monthly fees
  • Optional ATM card

Earn 5.15% APY

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on Bread Savings's secure site

  • Earn 5.15% APY
  • $0 monthly fees
  • Free incoming wire transfer fee

Earn up to 4.60% APY

Go to site
on SoFi's secure site

  • Up to 4.60% APY on savings by meeting deposit requirements
  • $0 monthly or overdraft fees
  • Get a $250 bonus with direct deposits of $5,000 or more

The best vacation savings accounts

These popular accounts have built-in savings tools to keep you motivated and on track as you save for your next vacation.

Quick view

Best Overall

SoFi Checking and Savings

4.6
★★★★★

Finder score

Earn up to $250 with a qualifying direct deposit, terms apply. This offer is available until December 31, 2023.
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on SoFi's secure site
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Our best overall pick for a vacation savings account is the SoFi Checking and Savings package thanks to the flexibility and versatility it offers through both accounts. This account includes cashback offers and savings roundups, which round up your purchases and deposit the extra into a savings vault of your creation. Plus, create up to 20 of these vaults, so you can keep all your savings goals separate. The accounts can also earn 0.50% APY on checking, and 4.60% on savings by either setting up direct deposits, or by depositing at least $5,000 per month. SoFi also offers additional FDIC coverage, up to $2 million.

UFB Secure Savings

4.7
★★★★★

Finder score

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on UFB's secure site
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UFB Secure Savings is one of the best vacation savings accounts available because no other savings account comes close to matching the 5.25% APY, which is especially notable given the lack of monthly fees and minimum balance requirements. Though it lacks some of the savings tools competitors offer, it provides greater access to your funds thanks to its optional ATM card.

Upgrade - Premier Savings

4.3
★★★★★

Finder score

Upgrade Savings earns a spot on our best list for its competitive 5.07% APY — an essential perk for building up to your vacation faster. And to top it off, there are no monthly fees with the Premier Savings accounts. You also get same-day transfers, so you can start earning interest as soon as it hits your account. Although there's also no minimum opening requirement, you need $1,000 to start earning interest.
Upgrade is a financial technology company, not a bank. Premier Savings accounts are provided by Cross River Bank, Member FDIC. See partner terms and conditions

Varo

4.7
★★★★★

Finder score

Varo is running a Referral Bonus Promotion through January 11, 2024 that gets both existing and new customers $30 when signing up for a Varo Bank account.
Varo offers savings tools in addition to a solid 3.00% to 5.00% APY, depending on your balance. In addition to savings buckets that let you easily track your vacation savings goals, Varo offers up to 6% cash back when you use your Varo debit card at select retailers. Reinvest this into your savings account to reach your vacation savings goals quicker.

Barclays Online Savings

4.3
★★★★★

Finder score

Barclays separates itself from other vacation savings accounts on our list by having no cap on your monthly transaction limit. Most savings accounts limit you to just six transactions a month, which makes this Barclays account a flexible option if you're unsure whether you'll need to dip into your savings before your vacation.

Discover Online Savings Account

4.6
★★★★★

Finder score

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on Discover's secure site
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The Discover Online Savings Account offers an interesting feature perfect for a vacation savings account: if you also sign up for a Discover Cashback Checking account, you can use that account to earn cash back on debit purchases and have those earnings deposited directly into the Discover savings account. This lets your savings happen entirely in the background while you focus on the essentials.

Bread Savings™ High-Yield Savings

4.3
★★★★★

Finder score

Go to site
on Bread Savings's secure site
Read review
Bread Savings continues to land on our best lists thanks to its strong 5.15% APY and low minimum deposit. This goes for our vacation savings account picks as well, as a high APY is paramount to earning as much for your vacation as possible in a short amount of time.

American Express® High Yield Savings Account

4.9
★★★★★

Finder score

Amex offers a competitive 4.30% APY and is also a trusted and reliable bank making it a dependable choice for a vacation savings account. It comes with $0 monthly fees and a $0 minimum deposit requirement. Amex also offers 24/7 customer support and a wide variety of savings and checking products you can branch out to if you enjoy their quality products.
Member FDIC

Bask Bank Interest Savings Account

4.6
★★★★★

Finder score

Bask Bank Savings Account makes our list thanks to its powerful APY. At 5.10%, Bask comes in hot with its high rate that adds to raw value on your balance, and the more you earn on interest, the faster you'll find yourself able to make your next big vacation trip. Plus, there are no opening or balance requirements to start growing your savings.

Marcus Online Savings

4.4
★★★★★

Finder score

Marcus by Goldman Sachs Savings Account earns a spot on our best list thanks to its strong 4.40% APY, lack of opening deposit, and same-day transfers between banks. The account also comes with account insights through the Marcus app, which can help you track how much you've earned toward that next getaway.

Capital One 360 Performance Savings

4.8
★★★★★

Finder score

Capital One 360 Performance Savings makes for a best vacation savings account pick thanks to its relative simplicity, automated transfers and support for up to 25 accounts. The latter lets you easily create a vacation savings account wholly separate from your other savings goals. It also earns a competitive 4.30% APY.

SmartyPig Savings

4
★★★★★

Finder score

SmartyPig remains on our list thanks to a competitive 4.25% APY combined with a suite of tools that can help you build strong savings habits. Creating a savings goal for a vacation is a snap, and watching your savings progress can help keep you motivated. Its automatic savings function can also help you grow your money consistently. Plus, monitor and change these automatic savings anytime, allowing you to shift more funds into your vacation goals when you have the funds to spare.

Ally Bank Savings Account

4.8
★★★★★

Finder score

Ally Bank joins our best vacation savings account list thanks to its competitive 4.25% APY and automatic savings tools. Ally lets you split your account balance into different savings buckets, which is perfect for saving for your next vacation. You can also set up roundups when you link an Ally checking account and set up automatic transfers into your accounts, letting you save for that vacation without lifting a finger.

Methodology: How we choose the best accounts

Finder’s banking experts review over 100 savings accounts to narrow down the best ones to help you save for a vacation. We consider factors like APY, fees, accessibility and additional features such as ATM access and savings roundups. To narrow down the finalists, our experts consider accounts that meet the following criteria:

  • APY must be at least 10 times higher than the national average
  • $0 monthly fees
  • Minimum opening deposits equal to or lower than $100
  • If the account has minimum balance tiers for interest, we considered those that require $1,000 or less
  • No strict membership requirements
  • The account must be available to a majority of the U.S.

High-APY alternatives to savings accounts

If you’re unsure about whether a savings account is for you, consider these high-yield alternatives that can help you grow and manage your money.

Cash Account

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on Wealthfront's secure site

  • Earn 5.00% APY on all your cash
  • A cash account lets you pay bills, set up direct deposit and access ATMs
  • $0 account fees
  • $1 balance to earn interest

Treasury Bill

Go to site
on Public Invest's secure site

  • Up to 5.4% yield
  • $0 monthly fee for free accounts
  • Treasury bills are exempt from state and local taxes

Certificate of deposit

Go to site
on Raisin's secure site

  • Earn 5.4% APY
  • Open with as little as $1

How to choose the best vacation savings account for you

While searching for the best savings account for your vacation, consider these factors when narrowing down your options:

  • Competitive APY. Look at accounts that are higher than the national average, which currently sits at 0.46% APY, and ones that don’t have strict balance requirements to earn it.
  • Minimal fees. Monthly fees and other charges can eat into your balance, so try to find accounts with low or easily avoidable fees.
  • Signup bonuses and rewards programs. Some savings accounts offer bonuses just for signing up for the account. But before taking advantage of these offers, make sure that the account itself meets your savings goals.
  • Savings goals tracker. Some accounts offer features like automatic savings plans, mobile banking and budgeting tools. These go a long way to keeping you on track with your savings goals while giving you a visual reminder of that vacation “finish line.”
  • Accessibility. Some savings accounts come with an ATM card to help you access your money. If you choose one that comes with a card, you’re still under the six-monthly transaction requirement.

How much should I save for a family vacation?

The cost of your vacation will vary based on its scope and the number of people attending. Travel data aggregator Budget Your Trip suggests that the average American vacation costs about $1,584 per person, per week, whereas Twine estimates about $600 for a weekend or $2,000 for a week away for two people. ValuePenguin pegs the cost at around 2% of a household’s annual income.

The destination and length of your stay will directly influence the cost, but here’s a rough estimate of what you can expect to pay:

Daily cost per personNumber of daysNumber of guestsTotal
Costa Rica$6874$1,904
USA$22374$6,244
Spain$12674$3,528
Canada$13574$3,780
Japan$11574$3,220
Mexico$4874$1,344
Ireland$11774$3,276

However, these estimates don’t include the following expenses:

  • Flights
  • Tax
  • Shopping and souvenirs
  • Extra food, drinks and tips
  • Transportation
  • Activities

Best way to start a vacation savings plan

As you plan to save for your vacation, consider things like how long you’ll be saving, the length of your trip and whether you’ll need access to your money. Once you’ve honed in on the details of your trip, here are some of the best ways to save:

  • Compare products and apps. If you have a long time to save, consider opening a CD. You’ll get a higher interest rate in exchange for locking up your money for a set time. If you’re more interested in savings goal features, apps with round-ups and investing options, like Acorns and Twine, invest your spare change to meet your goals sooner.
  • Set up recurring deposits. Consistency is key, so consider setting up recurring deposits into your savings account.
  • Track your budget. Break down your monthly income to find out how much you can put toward your vacation each month. Even spare change from everyday purchases or small decisions like packing a lunch can snowball, helping you fund your trip sooner.
  • Organize your savings. Set up a separate account for your vacation fund. Or set up multiple accounts for different vacations, so you have a designated spot to save for that trip to Disney or to the mountains.
  • Track your progress. Visit a branch, log in online or use mobile banking to track your progress and motivate yourself to keep going.
  • Look for incentives. Look for an account that offers a rewards program, travel points or a signup bonus.

What about a vacation savings club?

Savings clubs work just like savings accounts, but they’re structured to help you save toward individual goals. Instead of a general savings account that you pay into occasionally, you’ll make routine contributions into an account with a specific purpose, like a vacation.

There are usually set dates when you can open and withdraw from the account, and you’ll be penalized if you withdraw early. However, vacation savings clubs offer lower interest rates than you’d find on the best high-yield savings accounts.

Bottom line

Vacations are essential for relaxing, but they’re not worth going into debt over. Plan ahead and create a budget to figure out how much your trip will cost and how you’ll pay for it. Then, compare savings accounts to find an option that works for your financial strategy.

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