I don’t get why this isn’t a standard feature in banking apps. It would make managing money so much easier without needing multiple accounts. Some banks already do this with savings, but why not checking too? Anyone using a bank that does this well?
Ally has something like this for savings called ‘buckets.’ Not sure about checking though.
Torrance said:
Ally has something like this for savings called ‘buckets.’ Not sure about checking though.
I use buckets, and it’s honestly great.
Torrance said:
Ally has something like this for savings called ‘buckets.’ Not sure about checking though.
Wait, explain this! I just opened an Ally high-yield savings account.
Torrance said:
Ally has something like this for savings called ‘buckets.’ Not sure about checking though.
Wait, explain this! I just opened an Ally high-yield savings account.
Buckets let you divide your savings into different categories without opening multiple accounts. Just a heads-up: if you want recurring transfers into buckets, use the ‘boosters’ feature instead of the normal transfer setup—it doesn’t work right otherwise.
@Ronald
What’s boosters? Does the regular way have limits?
Bin said:
@Ronald
What’s boosters? Does the regular way have limits?
It’s just a weird glitch. If you try setting a recurring transfer normally, it ignores the buckets and dumps everything into core savings. Boosters are Ally’s way of automating savings, and they actually work as intended.
@Ronald
Thanks for the heads-up! I’ll keep that in mind.
@Ronald
That’s odd. Mine works fine with recurring transfers into buckets. No issues here.
Torrance said:
Ally has something like this for savings called ‘buckets.’ Not sure about checking though.
Wait, explain this! I just opened an Ally high-yield savings account.
Here’s a link explaining Ally’s savings buckets and boosters: https://www.ally.com/stories/save/what-are-ally-banks-savings-buckets-and-boosters/
@Torrance
This is super helpful! I’m actually excited about this. I used to do the cash envelope system, but everything I do is digital, so this seems way more practical.
Torrance said:
Ally has something like this for savings called ‘buckets.’ Not sure about checking though.
I think Ally is adding ‘spending buckets’ for checking accounts too. Haven’t checked it out yet, but it sounds promising.
@Tru
That would be amazing. If they bring this to checking too, it’d make budgeting so much easier.
Some banks have this, like Ally’s ‘buckets’ for savings.
Eleanor said:
Some banks have this, like Ally’s ‘buckets’ for savings.
Someone else mentioned this! I’m new to Ally—so you can actually separate money into sections?
Eleanor said:
Some banks have this, like Ally’s ‘buckets’ for savings.
Someone else mentioned this! I’m new to Ally—so you can actually separate money into sections?
Yeah, I have about 8 different buckets set up. Super easy to move money between them too.
Eleanor said:
Some banks have this, like Ally’s ‘buckets’ for savings.
Someone else mentioned this! I’m new to Ally—so you can actually separate money into sections?
Yep! It lets you create different categories within a single savings account, so you don’t have to open multiple accounts.
This reminds me of the old ‘vacation club’ and ‘Christmas club’ accounts my parents had at their credit union. Feels like banks moved away from that for some reason.
Tru said:
This reminds me of the old ‘vacation club’ and ‘Christmas club’ accounts my parents had at their credit union. Feels like banks moved away from that for some reason.
Yeah, I don’t get why more banks don’t offer something like this. Would be way easier than opening multiple accounts.
I use budgeting software, so I don’t really need my bank to do this.