Why do people have more than one Bank/Current Account???

armyoftwo

If you could please answer the above question, would be much appreciated.

Thanks:beer:

shaven-monkey

Easier record keeping.
For the fortunate, I guess the £50k deposit guarantee by the government.

missindecisive

one for the bills and one for general spends?

MrTomato

often to help budgeting so you have food money and bill money in different accounts to better manage your money.

sometimes people get them for cheap overdrafts/high interest rates on your own money.

Then there's the special offers like £100 for switching, and the likes of getting £5 each month.

laurel7172

For emergencies. Lost/stolen debit card, that sort of thing. Or for protection (use a secondary bank account containing only the minimum amount of money when dealing with somebody you don't know). Or to separate personal/business/shared/household/leisure items.

globalds

Match betting account.
Full of bookie transactions ..Money in out ..
It would have my normal account in a mess in days ...also it would look like I had a major gambling problem , this may well have a bearing on decisions the bank makes regarding requests for mortgages etc .

Best to keep things separate.

CLAPTON

I travel
sometimes a debit card doesn't work
sometimes a CC doesn't work

also when travelling I keep the cards separately to reduce the possibiliy of theft leaving me penniless

so I never go anywhere without 2 debit cards (hence current a/cs) and two CCs

and who knows when your debit card may be cloned.

scottishblondie

One for the student OD, one for a free fiver, another for use when traveling, and my others are for the interest rates.

I feel no particular loyalty to any bank, I go where the good deals are so I have a fair number of both current and savings accounts. Plus it is handy to have backup accounts, for example when my card was swallowed by an ATM a few months ago I had others I could use until the replacement arrived.

ajharris

Some people have a second account as a CASHFLO

Cash Account Secretly Hidden From Loved Ones

Inactive

HSBC for every day banking.

Nationwide for best rate travel/currency exchange.

Cahoot so that I can pay in cheques in my Village Post Office.

focae

armyoftwo wrote: »

If you could please answer the above question, would be much appreciated.

Thanks:beer:

Would appreciate if you answer why you want know?