DPT: Banking--Spread Your Money Around

I have six bank accounts in four different banks--two in a local bank, two in a local credit union, one in a large regional bank, and one in an international bank. Generally this works out pretty well. Keeping all of these accounts separate is less confusing, for one, and when I travel I have four Visa/Debit cards so if one won't work in a foreign ATM, another usually will. Over the past six months, however, two of these banks have been suddenly seized by the feds. Of course they have been reopened and the money has not been lost but this has given me cause for concern. The FDIC assures the public that their money is safe and will be guaranteed up to $250,000 which is somewhat comforting, but I feel that it is more important than ever to keep your money spread out at a variety of banks. After all, one bank may be in the middle of being seized when you most need to get at your money. It's always good to have a back up plan, and a back up bank, to see you through such an event.