Keeping your savings in one account makes it easier to meet minimum balance requirements for higher interest rates or account bonuses.
Banks often reward customers who maintain higher balances with better perks and features. When you use buckets instead of separate accounts, your combined balance helps you reach these threshold amounts more easily. This might mean higher interest rates, waived fees, or access to premium banking services.
For example, some accounts offer enhanced interest rates once your balance reaches $10,000. By keeping all your savings in one account with buckets, you’re more likely to qualify for these bonuses than if you split your money across multiple accounts.