I washed that checking account right out of my hair...

I had to fire the other institution that I was using. While it worked fine for the the basics, it was a hassle trying to abide by their rules in order to earn the highest interest on my deposits. The rates were great, but there were too many hoops to jump through.

So I found me a new checking account partner! Charles Schwab has a checking account called Schwab High Yield Investor Checking that pays 4% interest with no minimum balance and best of all, they reimburse all of your ATM fees worldwide! That in itself is worth its weight in gold! Trying to find your own bank's ATM machines is like looking for a needle in a haystack. The ubiquitous Bank of America ATMs are gouging non-customers $3 for cash withdrawals. Finally, convenience store ATMs overcharge you for the convenience of using some off-brand ATM.

Anyway, it comes with free checks, bill pay, FDIC insurance, visa platinum debit card with no minimum balance. Yeah, so it doesn't have many branches. I think the only one is in Reno, NV, but you can visit a brokerage office if you need to.

However, it is rare that I ever go into a branch anymore. If I do, it is to make deposits. With Schwab, I can use postage paid envelopes to mail my deposits if I need to. My deposits aren't usually something to rush to the bank over anyway. Half the time, I look like an idiot depositing my $2.00 class action settlement check. But before you knock it, just understand that I don't leave anything on the table. $2.00 spends just like $2000 and it adds up quick. So you better believe that I cash/deposit any and all checks with my name on it.

They do require that you open a brokerage account but tell you up-front that you don't have to use it. Which is great, because I won't. I'm sure I could find another brokerage with better trading costs than Schwab.

As a back-up, I will probably keep a local bank account with a small amount of money in it for emergencies. I've banked with several large banks that have lost their ATM/debit networks and left me high and dry for the weekend more times than I care to mention.

Note: I get nothing for my comments here from Charles Schwab. No referrals, money, or free coffee cup. When I find good stuff that either saves or earns me some money, I tell everybody who will listen.

But if you want to contribute to the cause by compensating me for this tip, by all means, leave me a comment and I will gladly take you up on the offer.. :O)