Should I split my money between banks?

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Should I split my money between banks?

Rounding it up

  • There are pros and cons to splitting your money between banks.

  • Some of the advantages of having accounts at different banks include increased access to account security and insurance as well as opportunities for helpful account tools that you can’t get with your current institution.

  • But opening accounts with several banks can make budgeting a challenge for some people. It also exposes you to additional chances for hidden fees, so make sure you know what you’re signing up for before you open an account.

  • It’s ultimately up to you to decide whether having more than one bank account is the right fit for your personality and money management style.

6 min read

Gaby Pilson
#banking#personal finance#canadian

Gaby Pilson

Gaby Pilson is a writer, educator, travel guide, and lover of all things personal finance. She’s passionate about helping people feel empowered to take control of their financial lives by making investing, budgeting, and money-saving resources accessible to everyone.

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