Banking 101

I am opening another account in another bank. The one I have now offers a good deal in bank CD rates but I still think it's best to open another account in another bank. My mom said that if we are to save in banks, we make sure we do not place our saving all in one place. It should be in varied accounts. Banks vary in many terms. Interest rates may vary but on a level where it's not too high or too low. This is where competition comes in, aside of course from the different programs each bank undertakes. It's not surprising that some banks have followers and loyal patrons while other don't. And if you ask me, I always go for those that has been around rather than those that simply sprouted a year or so.. Well, that's just me...