There's a saying that you shouldn't put all your eggs in one basket, and this rings true for bank accounts. While it is convenient to have all your finances located at one bank, what happens in the event that the bank's systems are down and you can't access your money for a little while? Or, a more common scenario my clients have faced is having their bank account frozen due to missed debt payments. This makes their financial situation more frustrating because they can't access their chequing account to take care of their other bills and rent.

Even though having one bank account can be convenient and may seem cheaper, on today's show, I share 3 reasons why you should bank at more than one bank for your own protection.