Bank accounts gone wild

Most people need some sort of checking or savings account, whether it's at a traditional bank, credit union or brokerage company. But most people don't need multiple bank accounts that serve more or less the same purpose.

Indeed, there are good reasons not to open extra bank accounts, even if an interest rate bonus or other attractive perk is on offer, says Conrad S. Ciccotello, associate professor and director of graduate personal financial planning programs at Georgia State University in Atlanta.

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