It will be interesting to see the responses.  I can't think of a single GOOD reason to have separate accounts, although I'm sure there is one. 

I suppose there are certain situations where it might be better to have separate accounts for tax or estate purposes, but for most of us, it will just be personal preference.

We also have just one checking account and like Fred we pay all of our bills on line automatically. In the last year we probably made it by with $2000 in cash. Seems two accounts would be more of a hassle.

We just closed my account,  and we also pay everything on line.   There really is no need for my account.   We still have Delaine's account,  it really make's since to only have one.   It's a joint account, however we very seldom write checks.   We use Wally  World as a source to get money in case we need cash.   And it never closes,  and doesn't cost.   I think most all larger stores have the same system.   GBY....    

We used to have just one joint checking account. We probably wrote less than 5 checks out of it per year but everything that we had set up for automatic payments also came out of it. One day we had to write a check to pay someone for some work they did for us. (He didn't take credit cards and it was too much to be comfortable paying in cash). Anyway, he lost our check in Home Depot later that day.

I got to thinking about that and realized whoever picked up that check had everything they needed to order a set of checks for themselves. If someone passed one bad check, we could end up with a mess if that bad check caused our automatic debits to our savings accounts, our treasury direct account, or any of our other automatic payments to not process. Granted, once the bad check was shown to be bad, the bank would have straightened it out but why risk that headache?

Long story short, we closed that account and opened another at the same bank that we use exclusively for online transactions. Then we opened up another joint checking account at another bank entirely seperate from other accounts that we use exclusively for writing hard copy checks to those places who do not accept credit/debit cards such as small campgrounds.

It has been 26 months since I started this post at 9:41 PM on November 17, 2006.  I've learned a lot in that time.  We will maintain two separate accounts for a lot of good reasons -- some of which have been touched on here.

This is a great forum and provides an avenue to learn much.  We are now only 7 months away from our new full-time RV lifestyle. 

Life is good!!!

Just to add to the other post. We now have started using two different banks. However we are joint on both accounts. My retirement is going to one and her retirement is going to another. The reason is whats happening to the Banking industry, mostly we don't trust the system. I don't remember the last time we wrote a check. We do all bill on line and or automatic withdrawl. I don't have anything to do with bills, my wonderful wife takes care of that. We had some problems this past month, had to replace the Surge protector, and one of the Laptops, purchased a new USB Mobile broadband by AT&T, and a Cradle Point 1000 wireless router. In the past we used Hughes Net sattelite dish for our computer needs. But we decided to use the Wifi system while on the road. Well that was a mistake, so we went back to the Mobile Broadband by AT&T. We had used the At&T air card back in 2005, I must say this new system is almost as fast as DSL. We still will use Hughes Net at home base. So needless to say the budget took a hit this month. Life is good.... We don't have problems over money, whats mine is hers and whats hers is hers. I do get a allowance. GBY.....

IN retrospect and after the experience of hurricane Ike last fall, I have come up with one good reason for more than one checking account. If your money is located in one place the possibility of some type of natural dissaster limiting your access to those funds is real. We now have 2 checking accounts located in two very different geographical areas.

Two accounts? The Brideandjoy has at least six accounts she moves things around in.

I just get my allowance and go on my way.

Mallo

My wife has all the accounts...leaving me a no count so I can't pay anything on account of not having any money...If that counts.

Speed Hitch:

Great response.

I am truly amazed at how long this topic has lasted. I guess my original question was timeless.
I posted the question in November of 2006. At that time we were just starting out on the path to an RV-Dream. Now here we are some 32/33 months later and in five weeks the RV-Dream becomes a reality.

We look forward to meeting some of you at the rally in Texas.

Ya Hoo!!

Speedhitch - atleast you seem to be able to afford paying attention!!! LOL!!!

TrishTravco, et. al - Yes we know all too well about ID theft also. Our names are very common too. And our mailbox was at the end of our driveway (almost a mile long) and out of site of our home (and anyone else's). Someone set up a business using our address, we didn't even know it till it was too late. We went to the State Police to report ID Theft and they said there was nothing they could do. So we spoke to a few different attornies and we were all told basically the same thing from each. It would cost us about $30K each to start the clean up of the ID theft or we could file for bankruptcy at about $1K. My husband and haven't had credit cards in over 10 years by our own choice. The only expense that we had financed was our home, we always paid cash, and now due to someone elses greed, we have no credit at all, even if we needed it. One of our friends (years ago) had ID theft, she was able to afford an attorney, but after it was said and done, she ended up with a 10 digit ID number from the gov't and can not even use her SS# and she is out all the money she paid the attorney and still has no credit. They are sad times we live in. I don't know how others can keep on top of such radical and fast changes. I just through my hands in the air and gave up.

My wife was the victim of identity theft, and it has been a nightmare. The credit reporting agencies don't verify the accuracy of the information supplied to them, they only verify that they have accurately listed the  information that was provided to them.

There are some things you can do: put a stop on all new accounts with all three credit reporting agencies (Equifax, Experian, Transunion) so that no new accounts can be opened in your name without you being contacted first. At the very least that documents with them that you believe you have been a victim of identity theft.

If you have been the victim of identity theft, you need to file a police report.... none of the credit reporting agencies will remove bogus claims from your credit report without a copy of one.
In some cases the thieves are so stupid as to list an address where you have never lived. That's pretty easy to document. But by the time you catch on to what's happening, they have very likely moved on.

It is a major pain, and it takes time, but you can get negative reports resulting from identity theft  removed from your credit reports. This is one case where you're guilty until proven innocent.

I don't carry my Social Security card with me any longer, and in Georgia there is now an option NOT to use your Social Security number as your driver's license number. You definitely don't want to do that in your state, if it's an option. NOBODY, but Social Security, Medicare, the IRS, or your employer has a need to know what your Social Security number is.

God bless,
Tim Fansler

We have always had a joint account and always did business with the local (small) banks. 
When we decided to move to AZ...we figured we needed to open an account with a nationwide bank, so we opened an account with BOA.  We didn't close our accounts in SC because we know all of the people and we could still get access to money if we had an emergency.  We also didn't want to lose access to credit lines we had established after doing business with these banks for 20+ years. 
However, I just learned this past week that you need to deposit or withdraw money at least once every 6 months or the account will go dormant and the banks will charge you an inactivity fee!  We were still receiving statements and still had money in the accounts but this didn't make any difference to the bank.  I put this out there for anyone else that may have left an old account open before hitting the road to fulltime.  Better check your banks rules on usage.
When I go fulltime, I will probably keep a joint account back East and another out West (@ different banks) to make sure I always have access to money.

-- Edited by azrving on Saturday 19th of September 2009 02:39:15 PM