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The best multiple bank account system in 2021

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With so many payments going in and out of an account every month, it’s not so easy to keep track of everything. A good multiple bank account system can help you with this. This helps you to organize your finances, to distribute the money into different pots and thus to save. This saved money can then be invested profitably. But what does such an bank account system look like?

What is meant by an multiple bank account system?

Before I explain the multiple bank account system, I’d like to ask you this. Wouldn’t it be great if you could save a certain amount of your salary at the end of the month? In addition, to pay something into the vacation fund and also have a fixed amount for fun, going out to eat, and so on? The answer, of course, is yes. That’s what an multiple bank account system is all about.

You have different sub-accounts and transfer a fixed amount there every month. Now you can only spend the amount available at any given time and not accidentally spend too much. It is important that you first plan your individual budget for the individual pots.

But how do you actually know how much money you spend and on what? There is no other way than to go through your bank statements and note down every single position. It is best to enter your expenses in a budget book, so that you get a nice overview.

multiple bank account system

This is what the multiple bank account system looks like!

If you are looking for a multiple bank account system, then there are the most diverse variants. I have looked at all the popular models that are available on the market. From the common ones, such as the 3, 5, or 7 – account model or that of Tony Robbins, I have developed my personal favorite.

You can work with 5 to 7 sub-accounts in our model. It is easier with 5 accounts, but it also works with more accounts. You will learn more details in the next section.

The percentage distribution in the graphic is only to be seen as an example. You will have to adapt it entirely to your individual wishes and ideas. Some may want to spend more money on vacation than others, or they may want to save and invest more than suggested in the image. That is entirely up to you.


This multiple bank account system works as follows. After your salary is received, you transfer funds to the sub-accounts using a standing order. This is very simple. For example, if you receive your salary or other money on the 29th of each month, you should always transfer the money to your sub-accounts at least 3 days later. This way you will avoid that your account is accidentally overdrawn.

For example, it could look like this for $5,000 salary / earnings:

  • $500 Vacation & Relaxation
  • $3,000 fixed costs & consumer spending
  • $500 Fun & Going Out
  • $1000 financial cushion / investment

a) Salary account / Checking account

This is where all income from your employment goes. If you are self-employed, then you have a business account above the salary account, from which you pay yourself a salary or profit. In addition, all other income comes together here, such as for example:

  • Ebay sales
  • Rental income
  • Pensions
  • Unemployment benefit
  • Side business
  • etc.

However, your income does not remain here, but is distributed according to your individual key. In our example, this is 60% for consumer spending and fixed costs, 10% each for vacation and fun, and another 20% for investment.

b) Holiday & Relaxation

This is a very important area in the multiple bank account system. Unfortunately, in today’s fast-paced world, we tend to switch off and relax far too little. Therefore, it is even more important that you set a budget for this and then spend it. You know best what is good for you. Allow yourself the relaxation, because you have worked hard for it. Here are a few examples:

  • Once a week to the sauna
  • Yoga or meditation class
  • Hiking vacation in the mountains
  • Snorkeling or scuba diving
  • Beach vacation

After all, you want to enjoy your retirement and not get sick from stress. So that this does not happen to you, I can only warmly recommend that you do not save here. You only live once and your health is worth its weight in gold.

c) Fixed costs & Consumer spending

Fixed costs include all expenses that are incurred on a regular basis. Some examples would be: Rent, electricity, telephone, monthly ticket and so on. But fixed costs are also payments that may only occur once a year such as car insurance, household insurance and liability insurance. After you have made a cross sum of all fixed costs in the budget book, you know how much you need on average per month.

Consumer spending is any expenditure that you need to live. These are, for example, food, beverages or other daily necessities. These expenses are not so precisely plannable, because they can fluctuate monthly. But here it makes also sense to determine an average value from the data in the budget book and to use this value.

For simplicity, I use only one account for both types of expenses. But you can also use two different accounts to plan this even more accurately. That’s up to you.

d) Fun & Going Out

This includes all expenses that are not absolutely necessary, but give you pleasure. Therefore, this budget should not be neglected. Your joy de vivre is very important and you also need to treat yourself something. This can be, for example, the following expenses:

  • Going out with friends
  • Admission to the museum, cinema or swimming pool
  • Dinner with friends or family
  • Beautiful shoes, clothes, etc.
  • Visiting sauna, etc.

Of course, our multiple bank account system is not about spending money senselessly. That’s why you should also question every expenditure before it is made. In this way, you avoid making impulse purchases.

e) Financial cushion / Financial investment

To do this, I may first have to explain to you what I mean by this. The financial cushion is a financial reserve for emergencies. If you have an unexpected expense or lose your job, you don’t necessarily want to touch your investments, but use the money from the financial cushion. As a rule, the amount should be about 3 to 6 household net income.

Only once you have this sum together, you start with the investment. You need to decide for yourself how you want to invest your money. You should then set up monthly savings plans in the investment of your choice be it stocks, ETF, bonds, real estate, p2p, cryptocurrency, or other.


The younger you are, the more risk you should take to achieve maximum return. In old age, it’s just the opposite. But what are the different types of investment and how have they developed in recent years?

In order not to inflate the multiple bank account system unnecessarily, I use my custody account as a financial cushion at the same time. Since there is no interest at the moment anyway, it makes no difference. As soon as there is interest again, or if you wish, you can of course use two different accounts. For the financial cushion, a call money account with interest would be suitable.

f) Use remaining money to save

If you have money left over at the end of the month, the end of the quarter or the end of the year, just transfer it to your deposit account and put it there. Since you’re taking a certain percentage out to save anyway, you probably won’t have much left over.

But if you do, then you need to save, save and save again. This is the only way to benefit best from the compound interest effect and get the most out of it in the long run.

This is how you get rich!

Now that the multiple bank account system is ready, I would like to tell you how you can get even more out of it. You have two options for this.

  1. You generate additional income and your expenses remain constant. Everything you earn additionally can be invested directly. Your savings rate increases immensely and you reach your financial goals much faster.
  2. If you change your job or simply earn more after a certain time, then you should save at least 50% of the salary increase additionally. This has 2 advantages. You have more money available for your life and still save a large amount more.
beforeafterChange %
Savings rate$1,000$1,50025%

If you choose the second example than it could look like this. Instead of $5,000 you now earn $6,000. After your savings rate was $1,000 and you now want to save 50% of the salary increase additionally, the new savings rate is $1,500. Over the whole year, your savings increase from $12,000 to $18,000.

This way you avoid consuming too much and still feel good. After all, you have a little of it, be it for vacation, leisure or otherwise. In addition, it helps you enormously in building up your assets.

What banks offer the multiple bank account system?

N262 SpacesFree on your main account
Capital One25 Sub-accountsFree
Discoverunlimited savings accountsFree

N26 is a very new bank but offers all securities. You can open an account in 5 minutes and they offer up to 2 Spaces. There you could save your money for holidays and fun. In Europe you can have up to 10 spaces with a premium account. It is probably only a matter of time when this is also available in the US. N26 offers also cashback when you pay with your N26 debit card at hundreds of participating businesses. Get unlimited free ATM withdrawals at over 55,000 Allpoint locations across the US, Canada, Puerto Rico, Australia, Mexico, and the UK.

At Capital One you can open up to 25 individual savings accounts. This helps you to automate your savings and helps you define and track financial goals. It is completely free to have all these sub-accounts and it makes it easy for you to have everything in one bank. Capital One is a online-bank and you’ll access your account through their website or an app on your smartphone.

At Discover, there is no limit for online savings accounts. They have a high interest rate and you can watch those savings grow. Discover Bank has also a cash back program when you make qualifying debit card purchases. Additionally, it provides free access to a broad ATM network.


Ever since I first heard about the multiple bank account system, that was when I read the book Money by Tony Robbins, I have been enthusiastic about it. At that time, however, there was no possibility to create several sub-accounts at one bank. So I had to create my own bank account at many banks. This did not make it very easy and clear.

However, the more modern banks have now recognized that many people want a multiple bank account system and therefore have it on offer. This gives you the advantage of having everything clearly arranged at one bank.

Through this multiple bank account system, I have personally saved a lot of money. Nevertheless, I don’t lose sight of my relaxation and fun because of all the saving. When the money accumulates on these two accounts, I can confidently spend it and look forward to my vacation or the new shoes.

It is also good that you save regularly and do not lose sight of that. It is a very nice and reassuring feeling when the investment amount increases regularly.

GELVOS was created with the idea of how to implement “earn money without stress” and for this I would like to give you our experience again. All articles on this page are divided into these sections: make. save. invest. live. If you don’t want to miss anything, subscribe to our free newsletter and get a big step closer to your goals!

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