Tuesday, November 30, 2004

Banking eggs

I recently had all of my money stolen out of my checking and savings accounts at my main bank. All the checks and payments I made were bouncing all over the place. It’s a mess. I have to contact each creditor individually and convince them it wasn’t my fault so they will reverse their returned check fees.
I’ve been unsatisfied with how my bank has handled this affair. They’ve dragged their feet on the carpet of inefficiency. It is likely I will be ending my relationships with this bank and its affiliates as soon as this matter is completely fixed.
Fortunately, I have back up money stashed away in a couple of separate accounts at different banks. The old saying comes into play; never leave all of your eggs in one basket. I didn’t have a lot of money in my separate accounts, but I had enough to re-pay this month’s bills before they were too late.
I have these back up sources because I direct deposit relatively small amounts each paycheck into these other accounts. In fact, the amounts are so small, they don’t make a difference in any given month by themselves. But collected over time, they do add up.

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