The Ideal Number Of Banking Relationships To Feel Safe And Secure

[void]

Martin Everson said:
Wise
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agreed, but they are getting more and more annoying sadly

 

[troubled soul]

Martin Everson said:
Wise
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Thanks for answer .....can you suggest 3 more........Sorry in advance If this offend you

 

[EliasIT]

backpacker said:
I would not overdramatize the matter. Bank closure is something Americans and Eurooeams are not yet used to. In other parts of the world it is a daily occurance.

So, first of all look into the banks' balance sheet as deep as you can and then pick accordingly. Stop looking for the highest interest bearing account or just put the maximum insured account into that bank.

Instead of using bank accounts for high deposit amounts, buy money market mutual funds or ETF's since they are safer.

Going with the above it is sufficient to have two banks + (maybe) one broker.
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I could not agree more with you!

If you open accounts with banana EMI's, Neobanks or Retail Banks you will face troubles. if you have legit business and go with one of the bigger banks in Europe or US you will be fine.

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[JohnnyDoe]

EliasIT said:
if you have legit business and go with one of the bigger banks in Europe or US you will be fine.
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in your dreams

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[EliasIT]

JohnnyDoe said:
in your dreams
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We have a total different view on banks. The fact alone that you burn more bank account in a months than I ever had in my business live (25+ years) says it all 😀

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[clemens]

EliasIT said:
The fact alone that you burn more bank account in a months than I ever had in my business live (25+ years) says it all 😀
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rof/%rof/%rof/%

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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity

 

[JohnnyDoe]

EliasIT said:
We have a total different view on banks. The fact alone that you burn more bank account in a months than I ever had in my business live (25+ years) says it all 😀
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You have been lucky so far, I'm happy for you but you should not rely on luck alone.
https://thedecisionlab.com/biases/survivorship-bias

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Martin Everson]

azb1 said:
Thanks for answer .....can you suggest 3 more........Sorry in advance If this offend you
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I can't name any others in the same league as Wise.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.