Two bank accounts: Isn't it convenient?

Lumber Joe
Lumber Joe
@lumber-joe-CUWBeb • Oct 25, 2024

To me using two accounts is indeed convenient. Think of a situation when you have a loan from one bank and you also have your business account there. Imagine you do not have money on your account and the bank is waiting for a transfer to cut the money, but you do not want the money to be cut. You can always ask your customer to transfer fund to another account and so you can avoid money-cutting.


In fact I use 3 accounts for my company: 2 normal (onshore) accounts and 1 offshore banking account from Jersey. It is quite convenient. My country's banking system is quite volatile and exchange rate often experiences large fluctuations. I keep significant amount of cash overseas and it is very easy to transfer them back if needed.

Like 0 Replies 11

Replies

Welcome, guest

Join CrazyEngineers to reply, ask questions, and participate in conversations.

Sign up Log in

CrazyEngineers powered by Jatra Community Platform

  • Kaustubh Katdare
    Kaustubh Katdare

    @thebigk • Mar 31, 2009

    I use two bank accounts too. It's convenient for me.

    What's it with 'Offshore Banking' thing?

    0
  • Lumber Joe
    Lumber Joe

    @lumber-joe-CUWBeb • Mar 31, 2009

    What's with offshore banking?

    0
  • raj87verma88
    raj87verma88

    @raj87verma88-ZpL2Wn • Mar 31, 2009

    @Lumber Joe: The Big K was asking about your signature.

    0
  • Lumber Joe
    Lumber Joe

    @lumber-joe-CUWBeb • Mar 31, 2009

    What's wrong with my signature?

    0
  • gohm
    gohm

    @gohm-F3UUpP • Apr 1, 2009

    Hopefully you claim the appropriate income on the overseas amount...

    0
  • Saandeep Sreerambatla
    Saandeep Sreerambatla

    @saandeep-sreerambatla-hWHU1M • Apr 1, 2009

    The page displayed on clicking on your signature , is that your website??
    😔😕😔 giving ads????

    0
  • Differential
    Differential

    @differential-0aMwAJ • Apr 1, 2009

    I, personally, don't think a common Man who has limited money business needs more than one bank a/c. The need metioned above is, I believe, psycological. Many people have asked me same thing about credit cards. They told me that they need one credit card for shooping and another one to pay first credit card's bills in case they don't have funds with them! Ridiculous! If you don't have funds to pay first credit card bills, where are you gonna have funds from to pay second credit card's bill. Moreover the chain of credit cards to pay bills of earlier credit cards could go endless.

    One of my friends has 3 credit cards and he recently told me that he uses neither of them! I feel having more no of cards make it difficuilt to keep trace of them. You have to be constantly aware of their pay dates.

    0
  • g_rakesh2
    g_rakesh2

    @g-rakesh2-CVEauh • Apr 1, 2009

    Its an advertise

    0
  • Anil Jain
    Anil Jain

    @CrazyBoy • Apr 1, 2009

    Doesn't looks like a private advertisement to me.

    0
  • Lumber Joe
    Lumber Joe

    @lumber-joe-CUWBeb • Apr 2, 2009

    Come on people, why do you think I am advertising anything? What did I advertise in my post? I opened a topic and put some ideas there for discussion. What's wrong?

    0
  • Lumber Joe
    Lumber Joe

    @lumber-joe-CUWBeb • Apr 2, 2009

    Besides most of you have something in your signatures and I guess nobody finds in this anything alarming.

    P.S. It would be nice, if you could contribute on the topic...

    0