The simplest way to track savings across several banks is to connect them to one read-only overview through PSD2, the European rules for account access, so the balances update themselves. You then see your total savings in one place without logging in at each bank. Your bank may ask you to log in again at most once every 180 days.
Savings end up at several banks for good reasons, such as staying under the deposit guarantee limit per bank, chasing a better rate or keeping a joint account next to your own. The more accounts you have, the harder it becomes to know what you hold in total and where. This guide covers the three ways to keep that overview, what PSD2 does and does not allow, and why it helps to group your accounts by banking licence.
Why your savings end up at several banks
One common reason is the deposit guarantee, which protects up to €100,000 per person per bank. As De Nederlandsche Bank (DNB) points out, balances at different brand names of the same bank are added together, so what matters is the licence rather than the logo on the app. Our article on the Dutch deposit guarantee explains which brands share a licence.
Rate differences are the second reason, because a bank that pays more on savings or deposits can be worth opening an extra account for. With a joint account, a savings account for a child and an old account you never closed, you can easily end up with five or more accounts at three or four banks.
Three ways to keep an overview
Logging in at each bank is the first option, and it works as long as you have two or three accounts. It becomes tedious quickly, however, and it never gives you a total or a history, so you still have to add up the balances yourself.
A spreadsheet solves the total but not the upkeep. Every balance has to be typed in by hand, and your overview is only as current as the last time you updated it. For savings that barely move this is manageable, but it breaks down once you also want to follow investments or a mortgage, as we describe in our article on replacing your net worth spreadsheet.
The third option is an app that reads your accounts through PSD2. With your permission, a registered or licensed account information service can see balances and transactions at your bank, but it cannot move money or make payments. You give that permission per bank, and since 25 July 2023 European rules allow your bank to ask you to log in again to renew it at most once every 180 days, instead of every 90. Our article on what PSD2 is explains what such an app can and cannot see.
Group your accounts by licence
However you keep your overview, it pays to add up your savings per banking licence rather than per account. The deposit guarantee applies to your total at one licence holder, so two accounts at brands of the same bank count as one. If your total at one licence approaches €100,000, credited interest can push it over the limit without you noticing.
How Gylder fits in
Gylder (gylder.nl) is a net worth tracker, not a budgeting app. It connects bank accounts through Enable Banking, a PSD2 account information provider registered with the Finnish Financial Supervisory Authority, which gives access to more than 2,700 European banks. Your current and savings accounts appear in one overview with a daily updated total, next to your investments and property. Gylder only reads your balances, so it cannot move money.
What this doesn't tell you
PSD2 only requires banks to open up payment accounts, and although many also share savings accounts, not all do, so a savings account or deposit may need to be added by hand. Keeping an overview does not tell you how much you should save or where, and this article is general information, not financial advice.
Frequently asked questions
How can I see all my bank accounts in one app? Use an app that connects to your banks through PSD2, the European rules for account access. You give permission per bank, and the app then shows your balances read-only in one overview.
Is it safe to connect my bank to an app through PSD2? The app only receives read access with your permission and cannot make payments. It must be licensed or registered as an account information service with a financial supervisor.
How often do I need to reconnect my bank under PSD2? Since 25 July 2023 your bank may ask you to log in again at most once every 180 days, instead of every 90 days as before.