Christmas Savings Account

It was a bank incentive for customers to save for the holidays.

Christmas savings account. If you withdrew the money before a certain date usually sometime in november you d pay a penalty. A christmas club account is a type of savings account offered by a credit union or bank. A christmas club or holiday club account is a type of savings account designed to help people save for their christmas shopping. It s a safe space that s dedicated to saving money just for the holiday season.

You would open a short term savings accountthat came with a restriction. Rules and requirements for christmas club account holders can. You just deposit money as you. We narrowed down the best accounts for christmas saving by considering key factors like incentives to help you save fees that might get in the way and convenience.

Typically opened in january regular automatic contributions are deducted from a linked checking or savings account. A popular way to save money for holiday shopping and spending used to be the christmas club account. No matter how far away christmas may be a dedicated christmas savings account could help you prepare for the often expensive holiday.