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 9 best accounts to boost your vacation and travel savings.
Top 9 vacation and travel savings accounts
Many of 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 is the SoFi Checking and Savings account thanks to the flexibility and versatility it offers through both accounts. Create up to 20 Vaults to keep your everyday savings, vacation savings and emergency fund all separate while still earning interest. This account also includes savings roundups, which round up your purchases and deposit the extra into a savings Vault of your choice. Plus, The accounts can also earn 0.50% APY on checking, and up to 4.00% 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, and there's just a small 0.2% foreign exchange fee from Mastercard when using the debit card abroad.
APY
Up to4.00%
Fee
$0
Minimum deposit to open
$0
Our best overall pick is the SoFi Checking and Savings account thanks to the flexibility and versatility it offers through both accounts. Create up to 20 Vaults to keep your everyday savings, vacation savings and emergency fund all separate while still earning interest. This account also includes savings roundups, which round up your purchases and deposit the extra into a savings Vault of your choice. Plus, The accounts can also earn 0.50% APY on checking, and up to 4.00% 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, and there's just a small 0.2% foreign exchange fee from Mastercard when using the debit card abroad.
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received 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 1/31/2026. 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 4.00% 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 4.00% 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 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% 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 stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
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/termsSee 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.
Varo offers up to 5.00% APY on up to $5,000. It has automatic savings round-ups called Save Your Change that rounds up purchases with your debit card and deposits the change into your savings automatically. There's also a feature called Save Your Pay, which automatically tucks away some of your paycheck for extra savings. To get the Varo savings account, you need the Varo checking, which also offers up to 6% cash back when you use your Varo debit card at select retailers.
APY
Up to5.00%
Fee
$0
Minimum deposit to open
$0
Varo offers up to 5.00% APY on up to $5,000. It has automatic savings round-ups called Save Your Change that rounds up purchases with your debit card and deposits the change into your savings automatically. There's also a feature called Save Your Pay, which automatically tucks away some of your paycheck for extra savings. To get the Varo savings account, you need the Varo checking, which also offers up to 6% cash back when you use your Varo debit card at select retailers.
With up to 4.65% APY, Uphold's USD Interest Account is a solid option. Balances under $1,000 earn 2% APY, so you'll need over $1,000 to get the best rate, but the 2% still crushes national averages. Uphold also has up to $2.5 million FDIC insurance, and allows for balances up to $1 million. You can also move funds around between Uphold's crypto account and the savings account. However, it's not available for residents of New York, Texas, Illinois or US overseas territories.
APY
Up to4.65%
Fee
$0
Minimum deposit to open
$0
With up to 4.65% APY, Uphold's USD Interest Account is a solid option. Balances under $1,000 earn 2% APY, so you'll need over $1,000 to get the best rate, but the 2% still crushes national averages. Uphold also has up to $2.5 million FDIC insurance, and allows for balances up to $1 million. You can also move funds around between Uphold's crypto account and the savings account. However, it's not available for residents of New York, Texas, Illinois or US overseas territories.
Want something simple? The Bask Bank Savings Account makes our list thanks to its powerful APY, lack of requirements and simplicity. At 4.65%, Bask comes in hot with its high rate that adds to raw value on your balance, making it easier to save for a vacation. There are no opening or balance requirements to start growing your savings, either.
APY
4.65%
Fee
$0
Minimum deposit to open
$0
Want something simple? The Bask Bank Savings Account makes our list thanks to its powerful APY, lack of requirements and simplicity. At 4.65%, Bask comes in hot with its high rate that adds to raw value on your balance, making it easier to save for a vacation. There are no opening or balance requirements to start growing your savings, either.
The Wealthfront Cash Account earns a strong 4.25% APY, and it even offers an optional debit card. Earn a strong rate, stow away cash for vacation, and then you get the option to spend that cash with the debit card while on said vacation. It has no monthly fees and no balance requirements to earn the 4.25% rate, and you'll also get up to $8 million in FDIC insurance.
APY
4.25%
Fee
$0
Minimum deposit to open
$1
The Wealthfront Cash Account earns a strong 4.25% APY, and it even offers an optional debit card. Earn a strong rate, stow away cash for vacation, and then you get the option to spend that cash with the debit card while on said vacation. It has no monthly fees and no balance requirements to earn the 4.25% rate, and you'll also get up to $8 million in FDIC insurance.
Get a $50 referral bonus by inviting your friends to join Current. Once the person receives the invite link and makes qualifying deposits of at least $200 within 45 days of opening the account, you and the referred friend each earn $50
It's not an APY like the others, but Current offers savings pods that earn up to 4% savings rewards on up to $2,000. You can create up to three savings 'pods' to separate savings goals; a great way to organize vacation savings from everything else. Each pod can earn up to 4% on $2,000, so you're still earning savings rewards on your cash. Also, Current is an all-in-one account with no monthly fees or deposit requirements. The Current Visa Debit Card also earns cash-back rewards.
APY
Up to4.00%
Fee
$0
Minimum deposit to open
$0
It's not an APY like the others, but Current offers savings pods that earn up to 4% savings rewards on up to $2,000. You can create up to three savings 'pods' to separate savings goals; a great way to organize vacation savings from everything else. Each pod can earn up to 4% on $2,000, so you're still earning savings rewards on your cash. Also, Current is an all-in-one account with no monthly fees or deposit requirements. The Current Visa Debit Card also earns cash-back rewards.
With a respectable 3.75% APY, the Discover Online Savings Account is a respectable and simple option for a vacation savings account. There are no monthly fees or opening deposit requirements, or balance requirements to earn the highest APY. This account also pairs with the Discover Cashback Checking account, which has no foreign transaction fees and cashback rewards — a great option for traveling.
APY
3.75%
Fee
$0
Minimum deposit to open
$0
With a respectable 3.75% APY, the Discover Online Savings Account is a respectable and simple option for a vacation savings account. There are no monthly fees or opening deposit requirements, or balance requirements to earn the highest APY. This account also pairs with the Discover Cashback Checking account, which has no foreign transaction fees and cashback rewards — a great option for traveling.
A trusted bank that focuses on savings products, Marcus by Goldman Sachs Savings Account earns a spot on our best list thanks to its strong 3.9% 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
3.90%
Fee
$0
Minimum deposit to open
$0
A trusted bank that focuses on savings products, Marcus by Goldman Sachs Savings Account earns a spot on our best list thanks to its strong 3.9% 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.
While it has a lower 3.8% APY than top competitors, Ally is still a strong option. The Ally Bank Savings Account has no monthly fees or opening deposit requirements. It stands out with its 'envelops' feature, letting you organize savings goals, like making an envelope for a vacation fund. There are also automated saving features like round-ups. You can pair it with the Ally Bank Spending account which also has no monthly fees, and has a low 1% foreign transaction fee.
APY
3.80%
Fee
$0
Minimum deposit to open
$0
While it has a lower 3.8% APY than top competitors, Ally is still a strong option. The Ally Bank Savings Account has no monthly fees or opening deposit requirements. It stands out with its 'envelops' feature, letting you organize savings goals, like making an envelope for a vacation fund. There are also automated saving features like round-ups. You can pair it with the Ally Bank Spending account which also has no monthly fees, and has a low 1% foreign transaction fee.
Finder’s banking experts review over 140 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:
At least 2.15% APY; minimum 5x times higher than the national average
$0 monthly fees
Minimum opening deposits equal to or lower than $100
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
0.43% 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.
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.
Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio
Bethany's expertise
Bethany has written 448 Finder guides across topics including:
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 60 Finder guides across topics including:
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