Currently, I'm putting all my savings into one bank institution, but spread into several accounts.
Are there any security risks in this approach? It is convenient for me as all my money can be managed under one internet login, but should I consider getting a new account at another bank institution to further spread my money?
- Location - Australia
- Current bank - National Australia Bank
- Amount - $10000 - $16000 but hoping to grow to 6 digits in the next 3 years. (I've just started working a few months ago)