Is it possible to restrict where coins from a given P2SH address can be sent to?

Question

I would like to create a checking/saving style scheme where coins from savings can only go into checking before they go anywhere else.

Is this even possible in Bitcoin?

Answer 1

No, Bitcoin script has no view of the output of a transaction as a design decision. This sort of behavior is called a covenant, which is usually regarded to be a fairly poor idea.