One shared account versus separate accounts

That Lady in PA said:
We have had joint accounts for over 40 years. No reason to do otherwise.

How about you... shared or separate?
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We live in a small town and keep funds in multiple banks. Every account is a joint account, but I also don't want everyone in the bank to know all our business.

One of the dangerous things is to have an extremely high balance in an account that you frequently write check from. You are giving anyone who processes that check you bank information. It is better to use one account for check writing, and only transfer money to that account as needed. The might get some of your money but won't get it all. I'm also a believer in having deversified investments allowing you to hedge potential losses.
 
Rider77 said:
We live in a small town and keep funds in multiple banks. Every account is a joint account, but I also don't want everyone in the bank to know all our business.

One of the dangerous things is to have an extremely high balance in an account that you frequently write check from. You are giving anyone who processes that check you bank information. It is better to use one account for check writing, and only transfer money to that account as needed. The might get some of your money but won't get it all. I'm also a believer in having deversified investments allowing you to hedge potential losses.
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The old "never keep all your eggs in one basket" approach. I whole heartedly agree with your financial tactics.
 
Everything is joined and transparent with my wife and I. We meet with our financial adviser every year together. We both have access to all accounts, share passwords and PIN's. Almost all financial adultery exists in secret. It's why there are always 2 people counting the money at church. Our children know where to find everything but they have to go through a lawyer to get it.

The biggest threat to your financial security is....you. When we would have a major IT security breech, most of the time the victim gave their information to the scammer or allowed the scammer access to their machine.
 
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