Open Another Savings Account?
I got an email this morning for Citibank Direct, asking me to open an online savings account with them. In doing so, I’d get a $50 sign up bonus. There are no fees, no minimum balances, and a 4.65% APY. Sounds great right?
My only concern is the number of accounts I have open right now. Currently, a checking and savings account at ING and two more checking and another savings over at WaMu. I think that’s even a little overboard.
So my question, then, is having too many banking accounts dangerous? Is there a magic number? Anybody know?
Then again, fifty bucks is fifty bucks, and I guess I could always close the account once I get the bonus.
Posted on Wednesday, May 16, 2007 @ 6:30 am by BudgetFreak
Filed Under: Banking , Savings
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on 16 May 2007 at 9:16 am 1.Melissa said …
I think that it’s definately not the same sort of thing like having a bunch of open credit lines. But just remember to keep them all straight!
Or else in 50 years your kids might be finding out about some hidden secret account that has earned a crapload of interest making them millionaires
)
on 17 May 2007 at 8:02 am 2.New Savings Acccount - Missed Out On $50?? » Budget Freak said …
[...] night, I decided to take advantage of the $50 sign up bonus that I talked about yesterday on a Citibank Savings Account. I don’t think there’s much harm in having too many [...]