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Thread: How many banks hold your money?

  1. #1
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    Default How many banks hold your money?

    With the silicon valley bank going insolvent.
    Got me thinking I should move some money across different banks.
    How many banks do you have your money?
    I've got 2 but predominantly only in one bank.

    It's the service fees that irritate me the most.

    I assume suntan has multiple mattresses filled too.
    That's another method.

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    CDIC covers 100k per asset class* so unless you've got Aspen money sitting around there's no reason to spread things out.

    * So 100k in your account, 100k in a joint account, 100k RRSP, 100k TFSA, each have their own coverage.

    And any securities you own the underlying security so doesn't matter if the investment institution goes under; unless its a mutual fund itself that goes to shit.

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    I got 2 accounts, one with Simplii (main), and then the other in RBC
    Originally posted by GTS Jeff
    You know those bored stay at home moms who's entire lives revolve around driving their kids to soccer, various cleaning accessories, and worrying about neighbourhood rapists? The kind of people that watch the View and go "uh huh..." Those unfulfilled people who try to fill the void in their empty lives by writing whiny letters to the editor complaining about shit that no one really cares about?

    Well imagine if instead of writing that letter to the editor, she just posts on a car forum for car enthusiasts. That's Kritafo.

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    Chequing, short term savings with RBC, RRSP and TFSA with Edward Jones.

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    2 I guess, and as far as I’m concerned that’s one too many.

    That said, who hoards cash. That’s dumb.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  6. #6
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    With the way inflation is these days 100K is the new 10K.

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    Quote Originally Posted by suntan View Post
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    With the way inflation is these days 100K is the new 10K.
    All the more reason not to hoard cash
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  8. #8
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    My wife is very skilled in not hoarding cash.

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    No need to diversify in Canadian banks. If a Canadian bank goes down, cash will be the least of your worries.

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    Good to know I'm similar to the rest of the beyonders.
    RBC for most of my assets and I'm assuming they're pretty diversified across the world.

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    Name:  7e9dyx.jpg
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    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  12. #12
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    I have money at HSBC, that way I know my money is being laundered in the best way possible.

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    Thanks for all the phishing info guys

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    Quote Originally Posted by mr2mike View Post
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    Good to know I'm similar to the rest of the beyonders.
    RBC for most of my assets and I'm assuming they're pretty diversified across the world.
    This is about depository funds not investment assets.

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    The province backs 100% of ATB deposits .. in the event of a major bank failure it will get fully bailed out regardless of the cost, but if you are in tinfoil hat mode just use ATB if that's a concern.
    sig deleted by moderator, click here for info

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    5 + my brokerage.

    Accounts in Canada, Dubai, Spanish brick & mortar for tax/bills (they direct debit your accounts here), European digital bank for most of my spending, Wise for ForEx.

    I suspect the Dubai bank will force me to close my accounts soon though since I'm not doing much there anymore.

  17. #17
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    CDIC is pointless unless you have cash in small regional credit unions or those low cost banks like EQ.

    If CDIC need to cover RBC or TD, $cad is basically monopoly money.

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    Argentina just raised their rates to 97%. Probably a bad idea though.
    0.5 gram microsd delivered by 12,000 pound combustion vehicle and driver.

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    Country of Germany arrest warrant for Lebanons central bank boss.



    I mean, technically any country can criminalize any USA or China, or Japanese central bank leader, but actually catching and dealing with the backlash would be quite a thing.

    The USA doesn't even bother trying the head of NASA for fraud and corruption, so internal back corruption is unlikely to be brought to law.

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