2006-10-21 23:17:42 · 5 answers · asked by choosing_the_right 1 in Business & Finance ➔ Personal Finance
This depends on where you live. In the U.S. most banks are insured to a specific amount. If you have more than that amount in the account and the bank fails you lose the overage. So... If you have a large amount of money in one bank it is prudent to have more than one bank. You also have to think about the amount of mail you get with each new bank. When you have many banks you can be overwhelmed by the amount of paper work that the bank sends each month. also, having several flush bank accounts really helps with your credit scores.
2006-10-21 23:41:42 · answer #1 · answered by Traveler 7 · 0⤊ 0⤋
are you talking in terms of being married?
Separate accounts are easier to manage
If you are single one account is good. If you find yourself traveling alot, Another account that is in most cities is good to have. if you cannot get finacing thru one back or you find one with competive rates its good to open another. And the ultimate reason for opening another account, you are able to join a credit union since they are non-profit and offer better rates.
2006-10-22 06:21:37 · answer #2 · answered by m_harvery 3 · 0⤊ 0⤋
Split. In case one of your card loss, you still have another.
2006-10-22 06:20:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋
One account only. it helps to keep track and from tax purposes.
2006-10-22 07:43:47 · answer #4 · answered by TANISH 2 · 0⤊ 0⤋
One of the basic principles in finance is diversification - basically not putting all your eggs in one basket. Get my drift?
2006-10-22 06:23:28 · answer #5 · answered by Peace 3 · 1⤊ 0⤋