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11 best vacation savings accounts of October 2022

Explore your options to help fund your dream vacation savings plans.

The best vacation savings account offers built-in goal-tracking tools to help you visualize your progress and stay motivated as you save. It could also be an all-in-one digital bank account that allows you to save now and spend your money later from the same account. We reviewed over 140 digital and savings accounts and compared factors like savings tools, APYs, monthly fees, and availability and curated a list of the 11 best accounts to help bring your vacation savings plans to life.

What’s changed in 2021?

We reviewed our best list to ensure these are still the top accounts to help you save for a vacation. We replaced Simple with One Finance as it’s being discontinued this year. We also added Sallie Mae’s SmartyPig Savings account because it acts as a piggy bank for short- and long-term goals.

Closer look at 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. Compare each account’s pros and cons to find the right one for you.


Finder rating 3.4 / 5 ★★★★★

Go to site
on Digit's secure site
Read review
If you're looking for a hands-off way to save, Digit is an automatic savings program that analyzes your spending and deposits an appropriate amount into savings. Plus, you can set up multiple goals to save toward different aspects of your trip.

Chime Savings

Finder rating 4.6 / 5 ★★★★★

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on Chime's secure site
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Have a percentage of your paycheck automatically deposited into your vacation savings account each time you get paid. Every Chime Savings customer gets a checking and savings account. Plus, a suite of financial tools to help you automate your savings.

Citi Accelerate Savings

Finder rating 3.7 / 5 ★★★★★

Open a Citi Accelerate Savings account and get access to Citi Financial Tools — a free software that lets you manage your finances, create a budget and track vacation savings goals. Plus, you can link non-Citi® accounts and track those too.


Finder rating 3.6 / 5 ★★★★★

Create a vacation savings goal, decide how much you want to save each month and Qapital will move money and track your progress for you.
Qapital is a customizable savings account app that lets you round-up your purchases, create spending and saving rules and more. But you'll pay $3 to $12 a month depending on which plan you purchase.

Ally Bank Online Savings Account

Finder rating 4.4 / 5 ★★★★★

Visualize your vacation savings goals by splitting your account balance into buckets, let Ally analyze your checking account and move safe-to-save money into your vacation savings each week. Ally Bank recently rolled out a suite of savings tools to help you organize, automate and boost your savings.

Alliant High-Rate Savings

Finder rating 4.3 / 5 ★★★★★

This online savings account encourages you to save with an APY that's higher than most of its competitors. You'll get access to a money management tool that lets you set and track your vacation savings goals on your phone.

Capital One 360 Performance Savings

Finder rating 4.6 / 5 ★★★★★

This savings account from Capital One has a strong APY and no monthly fees. Plus, its mobile app helps you create and track your vacation savings goals, check your credit score, manage transactions and more.

PNC Virtual Wallet

Finder rating 3.4 / 5 ★★★★★

PNC Virtual Wallet is made up of three bank accounts: Spend, Reserve and Growth. Each one helps you manage your money and save for short-term and long-term vacation savings goals.

USAA Savings

Finder rating 3.9 / 5 ★★★★★

Those who have a checking and savings account with USAA get access to a free suite of automatic savings tools. USAA can analyze your checking and sweep money into savings to reach your vacation savings goals. But only current or former military members and their family members qualify for membership.

One Finance

Finder rating 4.7 / 5 ★★★★★

One Finance earns up to 3% APY — that's $15 for every $500 you save! It's a checking and savings account in one, so you can save up for your vacation, then use the same account to track your spending when it's time to jet set.

SmartyPig Savings

Finder rating 4 / 5 ★★★★★

SmartyPig Savings by Sallie Mae acts as a virtual piggy bank for all your goals. You can even set up automatic deposits to fund those goals each time you get paid.

How to choose the best vacation savings account for you

While searching for the best savings account for your vacation, here are a few tips to help you narrow down your options:
  • Look for a high APY. A higher APY can help you reach your savings goals sooner. Aim for the highest you can find.
  • Check what fees you’ll be on the hook for. Monthly fees and other charges can eat into your balance, so try to find accounts with low or easily avoidable fees.
  • Look for signup bonuses and rewards programs. This can give you a head start on saving.
  • Consider what features are offered. Find a savings account that fits your lifestyle, comparing features like automatic savings plans, mobile banking and budgeting tools.
  • Check the terms and conditions before you open the account. Make sure you can meet any conditions or eligibility requirements to earn the advertised bonus or APY.
  • Make sure it offers the kind of access that works for you. Depending on your needs, pick an account that gives you access when you need it, or limits your access so you’re not tempted to dip into your savings too often.

How much should I save for a family vacation?

The cost of your vacation will vary based on its scope. Forbes suggests that you save 10% of your annual income, whereas Twine estimates about $600 for a weekend or $2,000 for a week away for two people.

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

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’re planning 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 homed in on the details of your trip, here are some of the best ways to save:

  • Compare products. If you plan ahead and have a long time to save, you might want to open a CD. You’ll get a higher interest rate in exchange for locking up your money for a period of time.
  • Consider investing apps. Some of the best round up and investing apps like Acorns and Twine can help you reach your goals sooner by investing your spare change or working with your partner.
  • Set up recurring deposits. Consistency is key, so consider setting up recurring deposits into your savings account.
  • Budgeting. Break down your monthly income to find out how much you can put toward your vacation each month.
  • 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 and that trip to the mountains.
  • Little contributions add up. Even spare change from everyday purchases or small decisions like packing a lunch can snowball, helping you fund your trip sooner.
  • 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. Plus, some vacation savings clubs offer higher interest rates as an incentive for you to save.

Bottom line

Vacations are a nice way to blow off some steam, but they’re not worth going into debt for. Plan ahead to figure out how much your trip is going to cost and how you’re going to pay for it. Then, compare savings accounts to find an option that works for your financial strategy.

Compare even more accounts for your vacation savings plans

This table highlights other popular savings account options. Type your deposit amount into the table to see how much interest you could earn as you save for your next vacation.

Name Product Annual Percentage Yield (APY) Fee Minimum deposit to open Interest compounding Offer
Capital One Kids Savings Account
Finder Rating: 4.7 / 5: ★★★★★
Capital One Kids Savings Account
Kids Savings Accounts are fee-free and don’t require a minimum balance.
Alliant Kids Savings Account
Finder Rating: 4.6 / 5: ★★★★★
Alliant Kids Savings Account
$1 per month
(can be waived)
Alliant Credit Union will pay the $5 initial deposit
This Kids Savings Account has no maintenance fees with e-statements and a high APY with a minimum daily balance of $100.
MySavings Account
Finder Rating: 4.6 / 5: ★★★★★
MySavings Account
An online high-interest savings account with no minimum balance or monthly fees.
Marcus by Goldman Sachs Online Savings
Finder Rating: 4.6 / 5: ★★★★★
Marcus by Goldman Sachs Online Savings
A high-interest savings account with no account fees.
CIBC Agility Savings
Finder Rating: 4.3 / 5: ★★★★★
CIBC Agility Savings
This savings account offers no maintenance fees and a competitive rate.

Compare up to 4 providers

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