Should you keep all your money in one bank?

Gerry Legister By Gerry Legister, 9th May 2011 | Follow this author | RSS Feed | Short URL http://nut.bz/1r62g31o/
Posted in Wikinut>Writing>Columns & Opinions

Banking at one branch may suit small business better, than for owners to have multiple accounts; many people have held the same account since they were fist year students.
Given the current state that banks are in as scapegoats goes, taking the brunt of the blame for the present financial crisis is greeted with applause in some sector of the industry,

toxic debts,


Banking at one branch may suit small business better, than for owners to have multiple accounts; many people have held the same account since they were fist year students.
Given the current state that banks are in as scapegoats goes, taking the brunt of the blame for the present financial crisis is greeted with applause in some sector of the industry, rather than letting people accept their own irresponsible behaviour, saddled with toxic debts, banks have been handed a barrel of public cash by the government to rescue them from winding up in administration, it is obviously something of an escape route, made to relieve the huge blood pressure that they have been under.

The banking sector is competitive business which has opened a back door for government to manipulate, if they accept the bailout rescue stimulus on offer, the rescue plan will automatically inject the banks with fresh new capital which the government will provide to support loans for purchasing homes, maintaining businesses and stimulating the economy, the stimulus plan, brings the cost of the administration’s economic rescue efforts to nearly $3 trillion.

Even with that massive handout to stabilize the nation’s banking sector, the American public is still sceptical about government intervention to handle the crisis, and confidence is needed to restore faith in the banking industry, where a large percentage of people have their investment tied up in various saving accounts.

As if things weren’t bad enough for high street banks with their huge debts and collective liquidity, banks have come under renewed attack, from customers are taking out their money and reinvesting with food chain stores, offering good deals on basic banking services such as savings on loans, expanded investment accounts and travelling insurance, with programs that provide overdraft protection on individual accounts. The need to keep your money in one bank depend upon your financial circumstances and what benefit can be derived from such actions.

Some may have been the unfortunate victim of credit card fraud, but have remained with the same bank, because of the overdraft facility that has provided flexible options.
Behind the smoke screened, millions of taxpayers cash has been committed to the banks rescue stimulus, on terms that often seems bewildering, in what appears to be a political unusual leap backwards into the dark ages, the exact magnitude of the unpleasantness surrounding banks is provoking anti banking feelings, right across the wide spectrum, some people are upset at the prospect of losing their homes, others have grave concern about bank managers who are walking away with large pots of gold in pension bonus.

Banking at one branch may suit small business better, than for owners to have multiple accounts; many people have held the same account since they were fist year students.
Sometimes when we hear of banks in trouble, and the news start to circulate, we see people aggressively queuing to take out their savings rather than depositing fresh amounts. This is an act of fearful uncertainty and the loss of confidence in that institutions, those who do not benefit from having their money in one bank, possibly have other sources of investment assets in material things, the best answer is that you should not keep all your money in one bank, because the risk of financial losses.

Tags

Bank, Banking System, Bankrupt, Investment, Investment Strategy, Risk Factor For Stroke

Meet the author

author avatar Gerry Legister
I am from the UK, and I love creative writing. And I write on many different subjects, including War peace, love, happiness.

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