Number of bank accounts

[capy325]

I'm reasonably new to CRH and have quickly realized that I now "bank" with just about every bank within 100 mile radius! I currently have 11 accounts, all with the minimum balance naturally. I was just wondering how many accounts the "average" enthusiast has and if I have gone a little overboard.

 

[CaptainRobin]

Overboard?

IMHO, nope.....

I don't do just minimums.

I ain't got eleven accounts, though....

Just five..........

But my dump bank is the best there could be.

Robin

 

[coinmojo]

I now have accounts with 6 different banks and 3 different credit unions. But to avoid high minimums. I opened trust accounts at several. Some only require a $5 deposit.

And a lot of those new accounts came with some sort of gift.

Mojo

 

[markmopar]

Only two so far...

 

[Codes]

3

 

[Silver_Fox]

4 new accounts designated for CRHing.

 

[LJ]

Five for me.

 

[XX]

An even better question is has anyone ever been turned down for opening a savings account due to too many Chexsystems inquiries?

When I opened my last one, I saw the banker going over the 5 inquiries and was expecting her to question them. She walked away and took over 5 minutes to come back. I thought they were in the back discussing how much I look like a terrorist.

Of course it turned out the delay was because they had trouble finding the starter kits for savings accounts. They apologized, handed the info to me, and I went straight over to the coin counter and dumped $2,000. I was so happy when I found out it was a bin and there was no waiting for bag changes.

 

[jrf30]

I put larger monies into each account, so they never ask about why I have so many inquiries. I let them know it is for FDIC insurance reasons. Diversification for safety. that seems to work. Then, even if my deposit with them is not as much a others, they treat me well, knowing (Thinking) i have some great potential for them down the road. :-)

I have 5 accounts. But I get coin from banks other than my account banks. I have only one dump bank, and have given them an account too.

 

[XX]

I put larger monies into each account, .....

I've considered that, but when many of these banks are only paying 0.1% interest for balances up to $25,000, I can't bring myself to put more than the minimum in there. I can get 3.00% today on a simple savings account at ING Direct with no minimum balance or activity requirements. I have a local bank where I can get 2.03% on a money market with a $1,000 minimum balance.

You know these banks are still making a profit on my money, so I figure these national banks are making enough money on my accounts, why would I drop more money in a bank that only pays me 0.50% for deposits up to $100,000 and only pays me 1.24% to keep more than $100,000 in their bank which also happens to be UNINSURED.