Bank of America - Checking Account

Bank of America's checking accounts are some of the most full featured accounts out there. With thousands of local branches and ATMs, online bill pay and a horde of other banking services, a Bank of America checking account can be the staple that holds your personal finances together.

Though it's far from a savings account that offers interest, a Bank of America checking account can be better than a low interest credit card. It can serve as the account that you use to pay all of your bills and manage your money.

Their current Free Checking account comes with no monthly maintenance fee (if opened online), easy automatic savings plans with Keep the Change and no minimum balance requirement.

As with every bank that offers a checking account, fees are just around every corner. Be sure never to over draw either through writing a bad check or using your ATM card when there are no funds in it.

Bank of America also offers checking accounts for students and interest checking. At times they even offer low rates on home equity lines of credit and mortgages.

We usually recommend that you have one checking account with national bank that tend to do the basics very well in addition to an interest checking account such as those offered by Schwab, ING and Ally.

Chase Checking Account

Now that Chase has rooted themselves in Southern California and taken over several credit cards, they are offering a free $125 for opening a new account with them. All you have to do setup up direct deposit and the bonus is yours.

Now why do you have to setup direct deposit you say? Well the answer is simple. Chase Bank doesn't simply want you to open an account for the free $125 and scamper. They hope that by setting up direct deposit that you'll be an active client. I'd say that this amount is enough for those to push someone that has had just enough about their current bank and this is just enough to get them to make them to move to a new bank.

Chase Bank doesn't offer much in the perk department but for some it's good to know that they have a good amount of locations versus accounts that you can open at Schwab Bank, E*Trade and Incredible Bank.

• Free access to 15,000 Chase ATMs nationwide
• Free online bill pay
• Chase Debit Card with liability protection
• Access to more than 5,100 Chase branches
• No monthly fee with direct deposit or at least 5 debit card purchases

Easy Grow Checking Account - Bank Easy

More and more high yield checking offers seem to be released everyday. Some offer a higher yield than others and some plain rob you blind if you're not careful. Today, we share a checking account offered by Fishback Financial Corporation named Grow Easy Checking.

This account offers one of the highest interest rates available in the nation. Unfortunately, it arrives with a slew of catches that would negate dollars earned if not met. Prior to diving into the specifics, rest assured that the account is FDIC insured.

Now, if you're thinking about earning a interest rate of 4.00% on a this account, think again my frugal friends. Well, you can earn it but you'll have to meet several requirements. All of them to be exact.

The rate of 4.01% that you can earn with Easy Grow Checking is on all balances below 25K. Anything over that rate and you earn a measly rate of 0.75%. Now, I bet you're thinking that's not all that bad. Think again!

In order to earn this you'll have to meet all of the following conditions.

• Make 10 purchases with your Visa Debit Card. (The ones you have to sign for.)
• Ensure that you make at least one bill payment or receive a direct deposit each month.
• Enroll in electronic statements.

If you do meet these requirements, will will enjoy one of the highest rates in the nation and free ATM refunds worldwide. A perk offered by only a few such as Schwab Checking. You can apply for this account online or through a local branch.

The account also has no minimum balance requirements, free online bill pay and no monthly charge.

Incredible Bank's - High Yield Checking

Incredible Bank has a new high yield checking account that is currently paying one of the highest yields to be found on the web. Sure the interest rate is one that beats most available but just who is Incredible Bank?

Incredible Bank is the online division of River Valley Bank, a family owned financial services company that has several branches in the states of Wisconsin and Michigan. They are FDIC-insured have been around for more than 40 years.

Their splash rate of 2.02% APY is one that would be hard to replicate anywhere else. Since this is a new offer, we highly suspect that the rate won't last too long.

However, Incredible Bank offers this checking account with free e-statements, no ATM fees, mobile banking and free online bill pay.

Incredible Bank is taking a similar approach to Ally Bank with what seems to be straight - forward banking.

This checking account is built for online - only access. One example of this is a hefty $20 fee check fee. So be aware if you choose to write a check with this account. It's best to use their online bill pay. You can find their schedule of fees here.

Schwab Bank High Yield Checking

Current Yield: 1.50% APY as of 11/24/2008

Charles Schwab Bank has one of the best checking account offers out there, especially if you're looking for a high yield account. The checking account doesn't miss in many banking categories. The checking account rate has been affected by the Feds recent decisions but it's still a superb account by any comparison.

For starters, the account doesn't have any ATM fees. All ATM fees are refunded to your account at the end of the month. I've used my Schwab Checking card just about everywhere without the worry of having to pay ridiculous ATM fees. I look forward to the deposit at the end of every month for all the ATM fees, I've accrued. It serves as a reminder of how much I was wasting on ATM fees every month.

This Schwab Checking Account offers a great yield. Again, it has been adjusted several times but it's still highly competitive.

The account comes with a free brokerage account that need not be used. There are no fees associated with not using the brokerage account. Funds can be transferred easily to and from the checking and brokerage account with ease.

You can easily link the checking account to your existing bank account in order to fund it and for continuous deposits.

I've had this account for over six months and have been very pleased with the customer service. Every time I've spoken with a representative, I've reached someone in the US. I commend Schwab for still providing customer service from those in the US as I've always received better customer service with reps from the US.

The account has free fraud protection that doesn't hold you liable for any fraudulent charges. This should help you use your Visa check card worry free knowing that Schwab backs any fraudulent charges.

Schwab High Yield Investor Checking also comes with a free set of checks. That's more than most online checking accounts offer.

There's also no hidden fees and no minimum balance requirement or tiers to meet the rates like all other checking accounts online.

The account fires on all cylinders and is one of the greatest checking account offers online.

Things to know.

No ATM Fees
No Minimums
Free Brokerage Account

Updated - See Schwab's Savings Account

Open a SF Wachovia Checking Account and get $75

Share the wealth is what I like to say. If you're in the bay area and looking for a free checking account or just a free $75 dollars, stop by the new Wachovia branch in San Francisco.

Right now, they're offering a free $75 for those who open a checking account with a minimum deposit of $100. There's one small catch, the free $75 dollars is triggered when you make 10 transactions with your Visa card. If you're anything like me, you'll get this fairly soon.

As of today, the new Wachovia branch on Market Street isn't located on google maps. The branch is located on Mark

Thanks to ChrisK, one of our fellow readers for sending this out.

Things to look for when opening a checking account.

It seems like every national bank or brokerage has a great checking account offer. With national banks merging at every corner it doesn't seem likely that this will bode well for the average consumer. Obviously, it's never a good thing when consumers don't have a array of choices particularly with financial products like checking accounts.

The recent market turmoil has caused consolidation across banks and brokerages. We hope that this somehow will benefit consumers in terms of new checking accounts with extra perks you're not accustomed to and hopefully not a conundrum of fees and hassles.

So if you're in the market for a new checking account or simply another account to diversify your funds, what should you look for? How do you differentiate from checking accounts your local bank has to offer or the one from a nationwide bank?

First and foremost is easy accessibility to cash. This means being able to access your cash wherever you want without having to worry about nearly five dollars in ATM fees. 

For those that still write checks, and frankly most of us do, you'll want to make sure that there's no limits to check writing. Most banks also give away the first batch of checks to begin with.