Everywhere you look, corporate America is cutting costs. Layoff announcements from such heavyweights as Daimler-Chrysler, Motorola and Dell Computer are but a few of the pervasive reductions of late. All of this is in the name of cost reduction as corporate revenues, profits, and subsequently, executive bonuses all decline. In fact, many of these alternatives may be available without switching to a different bank.
Most institutions offer a range of accounts tailored to a different type of consumer.
If the current account is not giving you what you need at the right price, see what other accounts the institution offers. Do not discount this entirely just because it does not pay interest. Instead, remember that a non-interest account gives you the flexibility to keep only what you need to pay the routine monthly obligations. That lets you divert excess funds into higher-yielding instruments, such as money market accounts, without sacrificing the ability to access those funds. Look at your previous six months' statements, tally the amounts in fees, and compare it to the total amount withdrawn.