the Price of Checking Accounts

The service in question is a basic checking account. The $6 account maintenance fee is waived with a minimum monthly balance of $500. Other fancier accounts are available to suit the needs of a variety of customers, each with fees set relative to the service provided.

I've had this checking account with the same bank for almost a decade. Initially the checking was free, regardless of how much was in the account, but after 5 years the fee was raised without notice to $3.50/month. Recently, i.e. within the last few months, the price of service was increased to $6/month and I've been considering ditching this account entirely. The checking account no longer suits the way I do business as I never write checks anymore, and work almost exclusively by a no-limit credit card that has interest waived if the charged amount is paid within a month. When I don't use credit, I use cash drawn from an interest-paying savings account.

Shop around and talk to the bank's officers. They'll be able to help you pick out an account whose features suit your needs, whether they are investing or speculation or savings or a basic checking account. Be sure to keep their quotes in mind when talking to competitors. This is especially important if you're dealing with large dollar accounts like those set up for retirement savings.