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What are the Benefits?

One of the questions that I come across quite often in various Facebook groups I belong to is, “Is there a benefit to keeping an account at a financial institution that I have had since before I was married?”
The short answer is, no, there is no benefit.  However, this answer does need to be qualified with, if you have a credit card or if you had a recent loan with this bank, closing out the account will also close out the loan or credit card, so make sure you don’t mind losing that history.
The other qualification is, if you do not have a personal bank account and all of your bank accounts are joint – you may want to consider keeping the account open and making regular deposits into the account so that you have something to fall back on should you ever separate from your spouse or your spouse passes away.
I am not saying that you should keep a secret account, I am simply saying that keeping a bank account and credit card in your own name, separate from that of your spouse, is probably a good idea if you can keep your spending in check.
I have touched on financial infidelity in the past and I will go more into it in the future, but keeping a separate account from your spouse is not always a terrible thing.  If you are smart and share that you have the account with your spouse and why you have the account, no arguments should arise and there should be no reason for him to have a problem with it.
The problems come in if you have an abusive spouse, someone wants to have complete control over all finances or your spouse thinks you are keeping the account for less than honest reasons.  Sometimes it is nice to have an account to stash money for birthday and Christmas presents.  Sometimes it is nice to have a separate account to put money into for a rainy day or just to treat yourself.  And sometimes that separate account can be used if something happens and you no longer have access to money as you once did, i.e. divorce or death.
Are there benefits to keeping an account open that’s been in your name forever but you no longer use it?  No.  In fact, some financial institutions will charge you if you have an inactive account.  But, if you are actively using the account, have credit history, have an open credit card or loan, want to have an account in your own name then yes, there are definite benefits to having an account in your own name.

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