Wedding ISA/Bank account. Anyone got one?

We opened an ISA account with Barclays.. So far so good and no issues at all....we have had to pay in large and small amounts....to be fair

Nichola is great with things like this and has a spreadsheet for all the payments due in and out and what interest we will get and how we can get that into the budget plans etc..

We have one for our wedding and honeymoon.

Its not really a special savings account, its just one that i used for when i saved up for my first car and then bought my car so it was there.

An ISA is probably best. But remember you can only put a certain amount in per tax year.

x

We don't have a special wedding account, but I just wanted to say that there's really no point in an ISA if your wedding is in 3 months. Interest rates on a cash ISA are so low so as not to be worth it for 3 months, and you should only put it in a shares ISA if it's longer term. And like someone else says, if you put it in and then take it out, you lose that ISA allowance and never get it back.

Don't get me wrong, ISAs are one of the best ways to save long term and you should definitely have one for your savings, but not for money that you will need in the short term!

So just a normal run of the mill account then? I would actually like a cheque book with it so was thinking a normal account might be better....

I opened an ISA with Lloyds TSB at the start of the year. I explained to them that a lot of money will be going in and out, and at the time they suggested the ISA account. Bearing in mind you can only pay up to a certain amount in there because of tax? Anyway, I opened a normal savings account in the end which is better because I bank online I can move things around and pay it from my current account. I dont want a debit card for my wedding account, its too easy to spend lol!!!

For 3 months, I would open a normal account. You are unlikely to earn any significant interest in that time in a savings account (obviously depends on the amount though!).

But, everyone should have an ISA for savings, so you could open one at the same time ? Then, any leftover money from the wedding fund you can put in the ISA after the wedding. You only really get any benefit from an ISA if you leave the money in for a while.

I've had an ISA for years and for long term saving it's a good way to go. I also have a couple of other normal bank accounts for various reasons (joint a/c for bills, normal savings a/c and one for my house which i normally rent, but trying to sell). it's not such a bad idea to have separate accounts for the various things you want.
TBH, I agree with the othes, an ISA isn't right if you only want to save short term. You only benefit from an ISA if the money is there for over 1 yr, because the interest paid on it is tax free - and the interest is only paid after 1 yr. Plus, the interest rates on ISAs at the moment are pants. Your annual cash ISA entitlement is £3,700 but you can't replace what you take out - so if you had a starting figure of say £3,000 and withdrew £500, you can only top up maximum of £700 (if you see what i mean).
if you want to keep a track of what is required for your wedding, then open up a current account, with on-line banking - that way you can easily transfer the money to your normal current account and write out any chqs, or debit cards etc. look on the money saving websites and get one that will pay you the most interest overall - but don't be surprised if it's not a lot of interest that gets paid in - especially just for 3 months.

at least if you had a separate account for the wedding fund, you can keep a better track of incoming/outgoings.