[zeroth32]

Been there, now II have 15 cards from 6 different banks.

There is also problem with deposit insurance. In EU deposit in single bank is insured upto 100k euro. If bank bankrupts, you loose anything over that. So it is better to spread deposits across multiple banks, each with 100k euro deposit.

And by aware that many banks are owned by the same group, and use just different brand as front. Insurance is per bank license, not per bank brand.

[sidewndr46]

It's similar with FDIC insurance. Each account is insured to $250K only. You have a lifetime limit of some amount of payout as an individual from the FDIC.

[christophilus]

I wouldn’t keep over 100k in a bank, anyway. I’d at least put it in a decently compounding mechanism like an infinite banking whole life policy (assuming Europe has such policies) and make it work for me.

[seunosewa]

How often do banks go bankrupt in EU? It must be rare.

[zeroth32]

Just six months ago, some banks connected to Russia bankrupted (Sberbank...). They were normal EU banks, incorporated in Austria and Netherlands, with EU bank license.

There is also Cypriot bail in in 2013...