Debate: should you split your emergency fund across banks or keep it all in one?

I was at my local credit union last month when their system went down for 2 days. Couldn't access a dime of my emergency fund. That got me thinking. On one hand, having it all in one place means easier tracking and maybe a better interest rate. On the other, if something happens to that one bank (like that outage or a fraud freeze), you're stuck. I ended up moving half to a separate online savings account after that. But my buddy says I'm overcomplicating it and just one high-yield account is fine. What's your take? Do you spread your safety net across different places or keep it all under one roof?

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diana8295h agoTop Commenter

You're probably overthinking it honestly... one high-yield account is fine as long as it's FDIC insured. Splitting it up just means more accounts to manage and more chances to forget a password or miss a fee.