Can you have two accounts at two different banks?

It is possible to have checking accounts at more than one bank, and you may have specific reasons about why you want to do this. For example, you may choose to keep your personal checking account open when you open a joint account with your spouse at a different bank. read more

If you are transferring money in between accounts, you can do this online if both banks have that option available or you can do it by making a deposit using a check from the other bank, you should be sure to wait three to five business days to make sure the check has cleared before using the money. read more

A second checking account can provide you with enhanced control over your spending by allowing you to dedicate specific accounts for defined expenses. You can reap the benefits of opening a second checking account if you take the time to define the purpose of each account and stay dedicated to your plan. Budgeting benefits of multiple checking accounts. When using multiple checking accounts for budgeting, each account should have its own specific purpose. read more

Even if you choose to have multiple bank accounts, it may pay to keep them with one financial institution, as some banks provide lower interest rates on loans or reduce fees for customers with multiple accounts. read more