> It's still wise to at least consider the possibility of a bank failure, qv Northern Rock. Most industrialized countries have insurance of bank deposits up to

> It's still wise to at least consider the possibility of a bank failure, qv Northern Rock. Most industrialized countries have insurance of bank deposits up to a certain point. So even if the bank goes poof your savings are still safe. It would simply be prudent to have money in more than one bank (or credit union), as if something bad happens then things may get chaotic in the short term. A second account also helps with IT problems: * https://en.wikipedia.org/wiki/2012_RBS_Group_computer_system_problems https://en.wikipedia.org/wiki/2012_RBS_Group_computer_system... * https://www.theguardian.com/business/2019/aug/27/natwest-and-rbs-hit-by-second-it-glitch-bank-websites-go https://www.theguardian.com/business/2019/aug/27/natwest-and...