Why You Should Consider Banking at Two Banks or Financial Institutions

With purses or wallets full of debit and credit cards, and all sorts of options for electronic payments and web-based banking, most of us have moved away from being reliant on cash. And most of us do all our banking at single bank or credit union.
There are some benefits to doing your banking electronically, but there are also some hazards. One of those hazards if finding yourself in a pinch if your bank or financial institution’s computer systems go down. This doesn’t happen often, but it is not unheard of. Another possible hazard is having your bank account access hacked.
In both these cases you can find yourself scrambling to access funds and/or to regain access to your account. How do you prepare for and lessen the inconvenience of these rare but possible eventualities? Consider opening a second account at a different financial institution. After doing this, account access difficulties on one of your accounts won’t totally trip up your access to banking or some of your money.

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