I want a savings account where u cant withdraw untill at least u have saved a certain amount first?

hi i want a savings account where u can deposit as little as a pound ,but have to save up to a certain amount before u can with draw it. i also want it where u dont have a time limit of which to save the amount.


any one know of what banks/building sociaties/companys do anything like that.?|||Try asking your bank about a "Christmas Club" account. While they are not promoted heavily any longer (but just try searching for "Christmas Club account" and see lots of credit unions promoting them), many banks and credit unions offer an account type called a "Christmas Club" account, into which you deposit a few dollars each week (or each pay period), and the funds can only be withdrawn without penalty after a specific date (typically in early or mid-December). While they were called "Christmas Club" accounts, I recall that my bank allowed any date to be set. The key was that there was a substantial financial penalty if you withdrew money before the specified date.





My recollection was that there was no penalty if you failed to make your scheduled deposits, only if you made an early withdrawal.





One thing to keep in mind: as much as you want a financial disincentive to keep you from withdrawing the money too soon, nothing will stop you from wasting the money after the agreed date; and if you need the money for an emergency, that financial penalty may be expensive.|||TRY THE ALLIANCE AND LEISTER THEY HAVE SOME GOOD CURRANT ACCOUNTS WITH SAVING ACCOUNTS ATTACHED....CO.UK|||Unfortunately, banks aren't that concerned with helping you save. However, if you find it too tempting to withdraw, that may mean you need to work on some other things first.





First, address why you are so tempted. Is it because you are having problems with debt or bills? If this is the case, then you should focus on erasing debt and making a budget before you are ready to save.





Or is it that you feel like you NEED what should really be a want - a new TV, camera, party money, clothes. If this is the case, have a buddy on standby to help question you until you get used to saying NO to yourself. It takes practice, but only you can do it. A good way to help this is to visualize the thing you are saving for. Are your savings for a big trip? Carry a picture of the place you are going in your wallet and pull it out when you're tempted to spend. Any way you can put an image to what you are saving and have it present will help. Or if you are saving as a cushion, for bad times, carry a picture of you being happy (or sad) to remind youself how you could/won't be if you don't have that back up money.





As soon as you get up to a certain amount, you can buy Certificates of Deposit or Bonds -- CDs (at least in the U.S) are something that let you keep your money in the bank for a certain time, but you can't get it before then. But you have to have money saved first.





Hope that helps!|||no...its your responsibility to not withdraw more from it than you need. Some accounts have fees if you go below a certain amount, like my checking if i go below 500 %26lt;its a high return checking account%26gt; but no account that im aware of restricts you from going below a certain amount.|||hey,





im not sure about accounts that only let you withdraw once you've saved over a certain amount, but i know theres ones that you can set a time limit on. Say, to stop you withdrawing before your 21 or something. Give http://www.moneysupermarket.com/savings/ a look, they have loads on there.





hope this helps