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 boost your vacation and travel savings.
Top 11 vacation and travel savings accounts
These popular accounts have built-in savings tools to keep you motivated and on track as you save for your next vacation.
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 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.
APY
Up to 4.60%
Fee
$0
Minimum deposit to open
$0
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 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.
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.60% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. Our account fee policy is subject to change at any time. SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms See list of participating banks at SoFi.com/banking/fdic/receivingbanks We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Upgrade Savings earns a spot on our best list for its competitive 5.21% 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.
APY
5.21%
Fee
$0
Minimum deposit to open
$0
Upgrade Savings earns a spot on our best list for its competitive 5.21% 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.
Pros
High 5.21% APY
No minimum opening requirements
Same-day transfers
Cons
You need at least $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 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.
APY
Up to 5.00%
Fee
$0
Minimum deposit to open
$0
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.
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.
APY
4.25%
Fee
$0
Minimum deposit to open
$0
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.
Pros
Competitive 4.25% APY
No minimum opening deposit
Cash back earned on your Discover debit card is deposited into this savings account
Amex offers a competitive 4.25% 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.
APY
4.25%
Fee
$0
Minimum deposit to open
$0
Amex offers a competitive 4.25% 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.
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.
APY
5.10%
Fee
$0
Minimum deposit to open
$0
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.
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.
APY
4.35%
Fee
$0
Minimum deposit to open
$0
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.
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.
APY
5.15%
Fee
$0
Minimum deposit to open
$100
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.
Pros
Strong 5.15% APY regardless of your balance
Free incoming wire transfers
Cons
Funds may not be available within the first 30 days of opening
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.
APY
4.40%
Fee
$0
Minimum deposit to open
$0
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.
Ally Bank joins our best vacation savings account list thanks to its competitive 4.20% 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.
APY
4.20%
Fee
$0
Minimum deposit to open
$0
Ally Bank joins our best vacation savings account list thanks to its competitive 4.20% 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.
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 4.25% APY.
APY
4.25%
Fee
$0
Minimum deposit to open
$0
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 4.25% APY.
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.
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
0.45% 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 person
Number of days
Number of guests
Total
Costa Rica
$68
7
4
$1,904
USA
$223
7
4
$6,244
Spain
$126
7
4
$3,528
Canada
$135
7
4
$3,780
Japan
$115
7
4
$3,220
Mexico
$48
7
4
$1,344
Ireland
$117
7
4
$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 account?
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.
Are there Disney savings accounts?
Disney used to offer a savings product to save for an upcoming Disney trip called the Disney Vacation Account — but it’s been discontinued.
If you’re looking to save money for a Disney trip, you can approach it the same way you’d approach any other upcoming vacation: set a goal, look for a high-yield savings account and set up recurring contributions to meet your savings goal.
Disney also offers payment plans for select Disney packages, such as a ticket and resort hotel packing. These packages often require a deposit. But unfortunately, there are no payment plans for just buying theme park tickets or hotel room reservations, according to Disney’s own planning resource PlanDisney.
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.
Steven Dashiell is an editor for Bankrate and CreditCards.com and formally a personal finance writer at Finder, specializing in credit cards, banking and growing and protecting your income. His insights and expertise has been featured on Nasdaq, U.S. News & World Report, Time, CBS, ABC, Fox Business, Lifehacker and Martha Stewart Living, among other top media. Steve holds a BA in English from University of Maryland, Baltimore County, minoring in composition and rhetoric. In his spare time Steve nerds out on birds, paints and plays a whole lot of Street Fighter. See full bio
Steven's expertise
Steven has written 66 Finder guides across topics including:
A compound interest account reinvests your earned interest into your balance. This new balance then continues to earn interest, knowing as compounding.
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