I too currently favor the instant access of having savings accounts linked to my checking accounts, though the interest rates are pathetic (less than 1%). I can transfer money into either of my checking accounts from either of my savings accounts and it will happen instananeously. (I also have overdraft protection, but in my U.S. account they've implemented a $2 fee per transaction for using it, and the 25% interest starts accruing instantly on what I've drawn from the line of credit, so I'd hate to have that be my instant-emergency option.)
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