I have checking/savings accounts with 3 different banks. Is this a good idea or bad?

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One is for general spending, the other for bills, and the 3rd for emergencies.

Even though salary gets split in 3 different ways, all other income from writeoffs, gifts, relatives/parents, etc, it all just goes to these 3 different banks, and it really helps me control my spending.

Also, I develop banking histories with 3 different banks so that if one doesn't approve me of a loan, or I don't like the interest rates/etc, I can always try another.

Seems rather silly, but can this possibly be a good idea?

Or is it totally pointless.

I have checking/savings accounts with 3 different banks. Is this a good idea or bad?

Anything that helps you control your spending is good. If you're wondering about it damaging your credit rating, no.

I have checking/savings accounts with 3 different banks. Is this a good idea or bad?

I think it is a bit pointless. I hear what you are saying about controlling your spending, as that makes sense. But there are downfalls. You have said that one of the benefits is having more than one bank to call on should you need a loan, but with your salary being separated and your money going every which way, your banks have no reason to be loyal to you, as you are not loyal to them. It is a better idea to build a strong relationship with one bank, rather than a mediocre one with three. My partner and I have a joint checking account, where we have three sub accounts connected to it, whereby we can move money in and out of the main account with ease. And as we get paid fortnightly, this is good for putting away money for what we call the down week. We are working on getting a good working relationship with our bank so that they will continue to meet our needs in the future, our credit cards are with them, as is our personal loan and our car insurance. And we feel that in a few years when we want to purchase a home, the bank will come to the party.

I have checking/savings accounts with 3 different banks. Is this a good idea or bad?

If it is the case that these banks may be small, and generally more local banks it is a plus. Often times these small banks are bought by larger banks such as Bank of America, Sovereign Bank, Citizens Bank, etc. When this occurs, to keep the new customers at bay, the large bank that your account is now a part of offers you deals. These usually come in the form of stock options, allowing you to possibly multiply your money ten times.

Separetely, it is good in case of identity theft/bank robberies so that not all of your dough can be swindled.

I have checking/savings accounts with 3 different banks. Is this a good idea or bad?

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