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A single bank being down is definitely NOT the end of the world, provided you personally do have alternative accounts. I think a few years ago one UK bank had
by cnst 5y ago
A single bank being down is definitely NOT the end of the world, provided you personally do have alternative accounts.
I think a few years ago one UK bank had a downtime of a few days on their payment network. Wasn't that limited to a single bank? If you don't have to pay an annual fee for a credit card, why would you not at least have a few, to avoid such a scenario?
Plus, bank-specific individual account lockouts are far more common worldwide, or customer service and unlock department might be having technical issues. None of this is the end of the world for anyone who has several credit cards.
- krzyk 5y agoBy writing "end of the world scenario" I mean that it happens so rarely that there is no need to prepare for that unless you are a prepper. I use a single bank for the last 15 years, there was no issue with it that would cause me to not be able to use my money. They usually have scheduler work during some weekend nights, and I don't remember any large scale issue besides that - for sure I didn't have a scenario where I was without money. For such scenario it is better to have some cash (which I do, but for other reasons - e.g. paying nanny or some workers that don't accept card payments).