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Keep Multiple Accounts In One Bank

Monday, August 12, 2013 - 10:15 AM

Other (My) reasons to keep multiple accounts in one bank:

1. RCAs with $25K limit, I need ten of those to hit the FDIC limit.

2. Depositing multiple MOs in various accounts (for good reasons).

3. To get better offer (e.g, 2.24% HELOC).

4. Yes, safe deposit box for free.

5. Linked accounts to qualify for fee-free checking and other benefits.

6. No, compliments from CSRs on my nice shirt means little to me.
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427
1. Monday, August 12, 2013 - 5:12 PM
Simplicity and multiple accounts don't always get you decent interest rates especially on CDs.  I am looking now to undo my "multiple" accounts at a certain bank locally because the only good it does for me is that it is convenient to have my checking account locally.  However, it isn't worth it in any other way so I am now "shopping".
paoli2paoli21,406 posts since
Aug 10, 2011
Rep Points: 6,152