So my boyfriend is a bit fearful of keeping all of his money in one place in case it's stolen or the bank freezes it or whatever. So he has an incredibly complex banking setup. He has his paycheck direct deposited 50/50 to 2 separate psychical banks near us. He then transfers most of the money from those accounts to 2 separate online banks. From there he sends a portion of the money from both of those accounts to 2 separate banks yet again for future use. And then he transfers a portion from the 2 online savings accounts to 2 separate checking accounts, which he uses to pay the bills. All told he has accounts at 8 different banks and manually transfers money between them every pay period.
I told him it's not a great idea and I feel like it puts a 'black mark' on him? Is there any harm to this if it works for him? Or is it bad for his record?
Submitted January 10, 2019 at 05:32PM by TastyCost http://bit.ly/2M20xiu
