[Reedex]

If you have multiple bank accounts, bank charges that will be deducted across your account will be huge.

[nuella]

Even if you are operating multiple bank accounts, let some be mobile banking apps. They don't charge account maintenance fee.

[Fidelia]

If they charge $0.1 accross 5 bank accounts, that is $0.5. And it is a significant amount of money if charged like that for three months.

[Presh]

It is very safe for you to have more than one bank account. It saves you from being stranded. One bank might be out of network and the other one suffices.

You can have two bank accounts then but some people have 3-4 which is a little too much

Most of those accounts are almost empty. They just keep it in case the need arises for it in future.

[Uty Theo]

Account maintenance fees, ATM fees, overdraft fees and other sundry charges on accounts make it financially unattractive to have multiple bank accounts.

[Pistis]

The maximum number of accounts that a rational person should have is 3 and one should be an EMI account.

[Vehlijanta]

Multiple bank accounts come with cost and you also need to pay debit card charges and other maintenance charges

[Tinni]

I have just two bank accounts and sometimes, the charges seem like it is too big cumulatively but I can't depend on one account though.

[King Belieal]

I have only one bank account. And that's because my bank gives me top notch services that I don't even consider having another account.

[Presh]

I have just two bank accounts. I used to maintain a single account prior to two years ago when my workplace forced every staff to open an account with a particular bank for every staff for salary. When once the salary enterse, I transfer it to my main bank account. I don't see the need to have multiple bank accounts n

[JASPREET]

The problem is when you switch job then you need to open a different bank account as most companies have tie-ups with different banks so you need to get a new account to get salary

[eldavis]

I have multiple bank accounts and I have not had any issue so far. I actually use them for different things like one for my business, one for savings and so on.

[Tinni]

I have multiple bank accounts and I have not had any issue so far. I actually use them for different things like one for my business, one for savings and so on.

When you have time, try and calculate the debit on maintenance fees on all the accounts over three months, you would understand it's financial implications.

[JASPREET]

Multiple bank account means more expenses on account maintenance and ATM charges so better go for 1-2 account at max

[Nsikan]

Multiple bank account means more expenses on account maintenance and ATM charges so better go for 1-2 account at max

That's true. Two reliable bank accounts is okay. What's the essence of piling up accounts to incur charges when you don't even use it. I am still wondering how someone would actively be using five bank accounts at a time.

[Kalayla]

It is not ideal to operate too many accounts. You might not even be able to control the accounts or keep track which might lead to financial losses.

[SHAHID987]

When I opened my four bank accounts in different banks, then rules were very simple
But yes, I agree as we must open only one account and manage it properly.

[King Belieal]

When I opened my four bank accounts in different banks, then rules were very simple
But yes, I agree as we must open only one account and manage it properly.

I won't say that you should open just a single account but two accounts is something that one can manage the charges. You know what they say about backup.

[JASPREET]

I am not planning to close my bank accounts and have 4 active accounts at present and paying ATM charges of all

[Uty Theo]

I am not planning to close my bank accounts and have 4 active accounts at present and paying ATM charges of all

I can't have that much bank accounts. But I have one bank account and about 1 EMIs accounts. EMIs don't charge for account maintenance.