It may be better to have accounts with different banks if you’re storing large amounts of money (more than $250,000) in each account. The FDIC typically insures up to $250,000 per depositor and bank, even if you have multiple accounts with the same bank. So spreading your money between banks helps to insure more of your money. It can also be helpful to leverage the different benefits you get from having accounts with multiple banks. Each bank has its own features and benefits, so you’d have access to more overall benefits as a customer of different banks. That said, if you often need to transfer money between certain accounts, it could be quicker for you to have those accounts with the same bank.