blackCAT / Getty Images Christmas Club accounts can help shoppers during the holiday season. Key Takeaways While you could save for the holidays by funding a high-yield savings account, many financial institutions also offer Christmas Club savings accounts. To open a Christmas Club account, find a bank or credit union that offers one, submit an application, set an end date, and make monthly deposits. You can withdraw funds at the end of the term. Most large banks don't offer Christmas Club accounts, ...