1. Different products: As many banks that exist, so are their products and services. Different banks have different products and services, though some of them look alike but there are variations. It therefore boils than to the fact that you have to patronize as many banks as possible to finally decide on which bank and type of account to give a priority.
2. In the case of liquidation or merging: Banking is a form of business and just like every other business, whether it is well managed or not, it can fold up at any time. How will you feel if your bank is folding up or merging with another strong bank, how will you feel? Even, it is going to be worse if it is the only one you bank with.
3. Slight difference interest rates: Since there are different products in banks, it won’t be a surprise to have different interest rates. Meanwhile, it might be slight differences, but it is going to make a bigger change in the long run. If you don’t patronize as many banks as possible, how will you have the required pieces of information to make a correct decision pertaining to your financial life.
4. More exposure and opportunities: Definitely, if you visit more banks, you are not only seeing more buildings and structures, you are also meeting more people which culminates into more exposure and opportunities.
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