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Everyone knows it’s in your best financial interest to have both a savings and a checking account. While checking accounts are useful for daily spending and expenses, savings accounts are great for saving for larger purchases and investments that you may need more time to save for. But what about multiple savings accounts? Is it wise to have multiple savings accounts, even at the same bank?
Though it might seem redundant, it’s actually very beneficial to have multiple savings accounts at one time. Multiple savings accounts come at no risk to you; in fact, it may help you save more money in the long run, and it has no effect on your credit score. Here are some of the best reasons to open multiple savings accounts, coming from a trusted and established savings bank:
Reach out to one of the Personal Bankers at McHenry Savings Bank (MSB) to discuss how we might help you save, invest or build wealth. Don’t have time to come in to a branch? You can open a savings account online while in the comfort of your home or office or anywhere! We work hard to ensure your money is safe, since we know that trust is earned, not given. Visit our website to learn more or give us a call at 815-385-3000.
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