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How many bank accounts do you have?

Technological advances are revolutionizing the way we bank. From in-person services at traditional bank branches to online-only banks, there are more options than ever before.

So, how many bank accounts do you currently have? What aspects go into opening or closing a new account? Let us know in the comments below.

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I find it easier to use several different accounts.

Regular checking and savings, long term savings (emergency fund), checking account just for mortgage; and another checking at a credit union for car loan payments.

The accounts through the credit union are because they had better rates for car loans, and even better if they do direct transfers from a checking account.

I transfer money to the mortgage account with every paycheck, and then send money for mortgage and condo association fees.

Last edited by KellyFromKeene

I have checking and savings at a bank and at a credit union. I also have savings accounts at 3 online only savings banks. I opened the bank and credit union savings accounts in case I accidentally overdraw checking; the online savings pay higher interest rates  than brick and mortar banks and credit unions. They also offered promos when I signed up.

I’ve had the same bank account for like ten years. It’s great! No fees. No maintenance fee, no overdraft fees, no any fees. I can’t overdraw it, and if for some reason it ever does happen, (it happened once ever), which was from a merchant charging my card as a credit card & never put the charge through for several months, I never owed anything. I think about getting a different one, but it works fine. I do get an ATM fee if I use a “not-my-bank” ATM, but they charge the $3 at the end of the month.

im not going to say where I bank online, but look around for a no fee checking.

I love my credit union where my parents opened a checking and savings for me when I was 5 or 6 years old. Since then, I opened more accounts there.

Personal at credit union: 1 checking, 4 savings (me, doggie, our travel, gifts)

Personal at online bank: 1 high-yield savings (future home and emergency)

Business accounts at same credit union: 1 checking, 1 savings

It’s important to have no fees for maintenance, withdrawals or transactions, nor a minimum required balance. The only fee I get is using an ATM outside the credit union’s network.

Last edited by PiNaY

Too many! But I like having the mix of options actually.  I have Bank of America as my main bank.  With them alone,  I have my own checking and saving,  my wife has her checking and saving,  then we have a joint house/bill account.  I picked them because they were on every street corner in our old neighborhood, had the most ATMs at the airport and around when we are traveling.  In addition,  I also have a Navy Federal Credit Union account I've had for 25 years.  I keep it around because auto loan rates have always been the best with them.  Plus my savings account there is easy to get money into but difficult to get money out of.  So it helps me save.  Then I have a Chase checking account and Business checking account.

I have a checking & savings account at a standard bank, but I do utilize Venmo, Cash App & PayPal for on-line purchases & pesonal family/business transactions. While these 3 apps are not considered an account at a bank, they are part of my personal & business financial transactions.

I tend to like trying new financial products that come out, so this has led to me having more bank accounts than I care to admit. Some I stash a bit of money away in for a rainy day, others, I just don't use.

Then there are always the promos that get me. Recently, I signed up for a Wells Fargo checking account as they were offering $350 if you deposit $1,000 in direct deposits in 3 months. This worked out perfect for me as I do deliveries and it is super simple to change the account you get paid at. To keep from paying fees, I have to keep at least $500 in the account, but it works out fine for me as I am just using it as my 6 month old's savings account and he shouldn't be needing to access it anytime soon 🙂

I'm a terrible "line item" budgeter, so I use my accounts. One for emergency savings. One for regular (monthly or quarterly) bills. One for groceries/gas/etc. One each for fun money--$100/month each to spend on whatever the heck we want (dinner with friends, a new book, an event, whatever). One for saving up for annual vacation. One for known upcoming large expenses, like milestone care repairs.

I'm married, so between my wife and I we have 4 checking accounts, 1 savings account, 3 investing accounts, and 3 credit card accounts. So I guess 1,000?

I'd be in tears without moving money automatically between accounts. I have a small business and auto-save for taxes and my wife auto-saves for a rainy day fund. (go her!) There's a blog post here about how to move money account-to-account on a routine if anyone's interested.


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