Is Having More Than One Bank Account A Good Idea?

Yes; it is actually. Now, those who may have had their fingers burnt off, and worse, during the last financial crisis, otherwise dubbed as the Great Recession, something of a mock parody to the even worse Great Depression, may still stubbornly be inclined to disagree. The reasons for this would have been perfectly understandable if not for the fact that in this day and age it is now rather inexcusable.

An institution like Columbia Bank East Brunswick would perhaps be better placed to provide you with a more coherent and authoritative explanation of this above-expressed sentiment and motivation. Previously, folks whether they were meant to be sole breadwinners or running their own small companies, were inclined towards taking out more than one bank account all for the wrong reasons.

It is what contributed to the last financial crisis in the first place. Before then and right up to the time that it happened, it was just too easy to apply for more and more credit lines. Indeed, banks in general were complicit in this greed and stupidity. Today of course, and thank goodness for that, things are a whole lot different today, COVID-19 circumstances notwithstanding. And yes, folks, whether they’re domestic or commercial, could be encouraged to take out more than one bank account, whether with the same institution or another line altogether.

Columbia Bank
389 NJ-18, East Brunswick
NJ 08816, United States
Phone: +1 732-432-7171

Or both.

And why not? Because this is what you will be getting out of the enterprise. It is perfectly legal to do so, by the way. So then, finally; why are you being encouraged to take out more than one bank account? Plain and simple fine print really; so that you can put away more, save more, enjoying different interest rates in an already low interest environment.