Me: What's the benefit of having a second account?
Her: Well, you have a lot of money in that account, you don't want all of your eggs in one basket.
Me: Why, because of FDIC?
Her: No, your funds are covered by FDIC. But what if a hacker gets into your online banking account?
Me: Wouldn't the second account show up in online banking too?
Her: Well, they could get your account number.
Me: Isn't my account number on all the checks I write?
Her: Yes, but most fraud is online these days. Like with bill pay etc.
Me: Does this account have bill pay?
Her: No.
Me: How would a hacker get money out?
Her: Well, your money is also not earning any interest.
Me: Oh, is there an interest bearing account I could open?
Her: Well, the interest rate isn't very good. It's only 0.1% if you keep $xxx in the account.
Me: So, less than $xx per year.
Her: Yes.
Me: Doesn't seem worth it.
It went on like this for a few more minutes, I realize she is just trying to get me to sign up for another service so she can make a commission, but is there a legit reason I should split money into multiple accounts?
Submitted July 25, 2017 at 04:29PM by greeneyedguru http://ift.tt/2tX4mLb
