Christmas Club Accounts

I used to use a Christmas Club account when I was a young adult. The idea of a Christmas Club account is that you put a set amount in the account every week/fortnight/month, with the option of adding in any extra as you go, and you can’t readily access the money in the account until December.


  • A great savings plan – good discipline for those who aren’t so good at saving.
  • You can access the money if you need it, but you are usually required to give a set amount of notice and you lose out on any interest you may be due.
  •  It is great to have access to a lump sum of money just before Christmas and New Year.
  • You will have a better idea of what your Christmas Budget actually is.


  • These are usually low interest accounts.
  • It requires a certain amount of discipline to keep up the payments