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Well I use a credit card for almost all my purchases and I don't even need access to my bank to make my monthly payment. I wouldn't split my cash equally betwee
by hparadiz 4y ago
Well I use a credit card for almost all my purchases and I don't even need access to my bank to make my monthly payment. I wouldn't split my cash equally between two banks either. That seems silly. If for whatever reason my bank went bankrupt I'd simply open a new account and change my direct deposit at work. It's not really a show stopper. Plus there's federal insurance on all accounts up to 250k.
- bombcar 4y agoI think having a second bank for savings/emergency can make sense for a number of reasons (harder to conflate your money, accessible if the first has an issue, etc, better rates, etc). I have an online centered account and a local one, they serve different purposes.