How to Create Sub Savings Accounts Capital One 360 for Multiple Goals

Creating sub savings accounts with Capital One 360 can help you achieve multiple financial goals by keeping your money organized and easily accessible.

You can set up to 100 sub accounts within your main Capital One 360 savings account, each with its own unique name and purpose.

To create a sub account, simply log in to your online banking portal and click on the "Sub Accounts" tab.

Each sub account will have its own balance, so you can see how much you have saved for each specific goal.

By creating separate sub accounts for different goals, you can avoid dipping into one fund to pay for something else, which can help you stay on track with your savings plans.

To set up sub-accounts at Capital One 360, you'll need to log in with your Saver ID and password. This 9-digit number applies to your entire portfolio, including savings, checking, and Retirement Accounts.

You'll then click on the My Accounts pull-down menu and select Open Account. From there, you can choose to open a 360 Savings Account, which is the first option under Savings.

To make it a Joint sub-account, you'll need to enter the other person's Saver ID and password. This will give them access to the account, and you can manage it together seamlessly.

Funding your sub-account is a straightforward process. You simply select how much you want to put into the account.

You can choose where those funds will come from, giving you flexibility in managing your finances. Since I was opening these extra accounts specifically for targeted saving, it makes sense to name each one based on my goal.

Agreeing to the terms and conditions of the account is the final step in this process.

You'll be assigned a 9-digit Saver ID, which applies to your entire Capital One 360 portfolio.

To start creating sub-accounts, log in to Capital One 360 with your Saver ID, password, and security questions, then click on the My Accounts pull-down menu and select Open Account.

You can open a 360 Savings Account, the first option on the top right under Savings, and choose to set it up as a Joint account for shared access.

To make it a Joint sub-account, enter the Saver ID and password of the person you're adding.

Your sub-accounts will automatically show up on your Capital One 360 dashboard, allowing you to see all your accounts in one place with their subtotals and grand total.

You'll be able to transfer money into one of your savings accounts and select which sub-account to credit the deposit to.

Creating sub-savings accounts with Capital One 360 can be a game-changer for your finances.

Separating funds into different sub-accounts can be a great motivator to save, as it allows you to see your progress and stay focused on your goals.

You don't need multiple accounts to save for goals, but having the option can be really helpful. My wife, for example, is happy with a single gigantic savings account, but I find it motivates me to save when I can separate funds.

This technique isn't limited to Capital One 360, and other online banks may offer similar functionality.

It's free to set up sub-accounts with Capital One 360, which makes it a great option for those who want to save without incurring extra costs.

Some people might not need sub-accounts, but for those who do, it can be an incredibly useful tool to help manage their finances.