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Well, statements like "what doesn't everyone just use x" usually haven't been thought through too much. One main reason is that I don't like the feeling of hav
by imilk 5y ago
Well, statements like "what doesn't everyone just use x" usually haven't been thought through too much.
One main reason is that I don't like the feeling of having all of my money stored by a single company. Especially if that company is operating with the goal of making profit. May be irrational, but having a single point of failure for all of my hard earned money just doesn't sit right.
- fossuser 5y agoI suspect most people are not using bank accounts as one account among many for financial diversification - the bank account is their sole account. My question could have been more specific - I see little reason to prefer a bank to fidelity. It is government insured up to 1.25M though - so I think the risk is minimal short of government collapse.