I'm considering going to the UK in the fall (from the US) for the creative person concession visa (similar to a visitor visa) and will need the typical £940 in "savings" 90 days before I arrive. I've currently got two checking accounts. One that I use for my daily/monthly expenses and that I get paid into. And the other I use for my savings and have been putting money into weekly but not using for any other transactions. The reason for not using a more formal savings account so my savings is that my bank, like many others, only allows up to 5 online transactions into a savings account per month and sometimes I need to do more transfers into it than that. However I'm a bit concerned that this won't be clear or won't "count" to customs/home office as it's not a formal savings account. Has anyone had any experience with this?
No problem having no "formal" savings account
I had submitted two bank account statements when I applied for my UK visa recently, both of which were not a "formal" savings account, and had it written like CHECKING or CURRENT account, do not remember exactly. I used them for similar purposes: salary, expenses and savings (in an informal sense like you say). However, when I submitted both, I made sure I had everything crystal clear for them to evaluate.
For every cash inflow from employer or any other friend (for expense sharing like restaurants, trips) or my previous apartment which refunded me my caution deposit or cash outflow (like rent, mobile bills, online shopping), I had them clear in the description what this relevant transaction was about, and from/to whom.
I got my visa!
Read more about bank statements for the UK visa here: Should I submit bank statements when applying for a UK Visa? What do they say about me?