I would not want to have just a single bank account.
Fraud detection is automated and aggressive at many banks, and banks think nothing of freezing your account "just in case".
There is actual fraud and false positive detection, either of which can render your one and only account useless.
Then how do you pay bills and other banking services ?
I have 2 banks and 2 brokers for redundancy.
I use both bank accounts usually alternating paying bills between the two, to make sure both are equally ready for my daily needs.
One happens to be brick and mortar and the other online only.
I have indeed gotten those signature guarantees needed at Treasury Direct twice at the brick and mortar bank.
I have in the past gotten bank checks at the brick & mortar bank to buy a car.
I have gotten larger sums of cash at the brick and mortar bank, larger than typical daily limit of most ATMs.
That said if the brick and mortar bank had a problem, I could live for a long time with my online bank, while either resolving the issue
or opening a new brick and mortar elsewhere.
Fraud detection is automated and aggressive at many banks, and banks think nothing of freezing your account "just in case".
There is actual fraud and false positive detection, either of which can render your one and only account useless.
Then how do you pay bills and other banking services ?
I have 2 banks and 2 brokers for redundancy.
I use both bank accounts usually alternating paying bills between the two, to make sure both are equally ready for my daily needs.
One happens to be brick and mortar and the other online only.
I have indeed gotten those signature guarantees needed at Treasury Direct twice at the brick and mortar bank.
I have in the past gotten bank checks at the brick & mortar bank to buy a car.
I have gotten larger sums of cash at the brick and mortar bank, larger than typical daily limit of most ATMs.
That said if the brick and mortar bank had a problem, I could live for a long time with my online bank, while either resolving the issue
or opening a new brick and mortar elsewhere.
Statistics: Posted by beyou — Sat Feb 14, 2026 3:46 pm — Replies 61 — Views 3053