How many bank accounts do you have? - Page 2

hari · #16 (**permalink**) 08-07-2007, 01:56 AM

hmm...
1 for investments
2 where my salary gets credited
3 ..i hav a paypal account, but i don't use it quite often..

it's over two pages of discussions now, so was wondering if there is any distinct financial advantage of having or not having more than 1 bank account? or is ease of managing and organizing the only reason here...

Fred333 · #17 (**permalink**) 10-04-2007, 03:15 PM

I have two. One for checking an bills and the other for play money.

darsh999 · #18 (**permalink**) 10-04-2007, 07:46 PM

I have two savings account , one is for my routine expenses but the other is like a fixed deposit thing i never ever withdraw money but randomly keep on deposit some amount of money into it.

JasonAu · #19 (**permalink**) 10-04-2007, 07:50 PM

Hmm lets see i have 7 i think. (need to consolidate)

I have....
1 in my name.
1 in my comapny name
2 in my Trusts name (one being a line of credit Account)
1 investment loan account
1 credit card account
1 Cash Managment Trust account (for stock trading)

Sheesh when you write it out like that it looks bad
thats the project for next week to fix up the mess

thebeave · #20 (**permalink**) 10-13-2007, 04:45 AM

I have:

1 Checking
1 High Yield
1 Savings

I just closed a savings account from a local bank that I forgot I had money in. Turns out I had $200 in there.

1wealthbuilder · #21 (**permalink**) 10-17-2007, 11:05 PM

I've had as many as 10 at one time for all of the different businesses and trusts and what not.

Simpler is better, Less is More!

financeman45 · #22 (**permalink**) 10-21-2007, 07:17 PM

I have one checking and one savings

Mark A · #23 (**permalink**) 10-22-2007, 12:00 PM

lemme see...
1 Savings
2 Checking
1 CD
2 loans
1 Credit Card
1 Money Market account

Hermes · #24 (**permalink**) 11-02-2007, 06:38 AM

As long as you have an overview of your accounts and keep track of each account the amount of acocunts you have is not important.

Why do you have them is the more important question in my opinion.

If they serve a purpose, that's fine.

Many people have accounts open which they don't need and in many cases they alos pay an annual fee for those accounts. That's not financially smart.

Easy To Get Credit Cards · #25 (**permalink**) 11-05-2007, 09:12 AM

After the patriot act came into play people should be careful.

Hermes · #26 (**permalink**) 11-05-2007, 05:11 PM

You shouldn't use multiple accounts to hide funds in the first place. It won't work. If you follow the rules then regardless of what laws are set in place you won't have to fear anything.

jonny0000 · #27 (**permalink**) 04-14-2008, 10:59 AM

Quote:

Originally Posted by Hermes

As long as you have an overview of your accounts and keep track of each account the amount of acocunts you have is not important.

Why do you have them is the more important question in my opinion.

If they serve a purpose, that's fine.

Many people have accounts open which they don't need and in many cases they alos pay an annual fee for those accounts. That's not financially smart.

If you have a free account for years that you don't tounch with pence in it won't that get closed down automatically?

financestrategy · #28 (**permalink**) 04-28-2008, 12:26 PM

currently am having two bank accounts.

herms i think its not that one needs multiple account to hide funds, but probably each bank have something different to offer you and it attracts you. according to me it is the service that matters, the quality of service that one delivers you.

stockmarketreviews · #29 (**permalink**) 05-22-2008, 02:56 AM

i have 3 . reason is i have to change account because of laziness of bank employees . now finally found good bank

Jerrydill · #30 (**permalink**) 05-22-2008, 04:46 PM

I have several bank accounts one savings account, one checking, two accounts for investment deals... etc. I would say I have about 6 in total. I wonder if I could consolidate some of these accounts. You've helped me realize how confusing my finances are

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