By BankingMyWay Staff

Many consumers want their money to earn as much interest as possible when deposited in an account. That's fine if you are deciding where to keep your emergency fund, but not if it's money used to pay monthly bills.

When choosing a checking account, the interest rate should be the last thing you worry about. Instead, choose an account that fits your banking needs -- one that lets you write enough checks every month or won't charge you huge fees for using an out-of-network ATM.

Here are a few tips for finding the account for you:

Account fees

There are fees associated with every account -- the difference lies in how big the fees are and what triggers them. Many accounts charge fees for bouncing a check, writing too many checks, making a withdrawal from an ATM or even keeping too little money in your account. Even if you've never incurred a fee before, consider choosing a bank with lower fees -- $5 instead of $20. There's always a first time for everything.

In addition to the fees charged for "breaking the rules," some banks charge monthly maintenance fees. In some cases these fees are waived if you maintain a high enough balance or hold a second account with the institution, but you shouldn't have to pay for a checking account.

Transactions

Make sure that your monthly transactions line up with the services available on the account. If you write a lot of checks, look for an account with unlimited checking. If you pay your bills online, look for an account with unlimited online transfers and bill payments. And if you do a lot of travelling, consider a bank that won't charge you for out-of-network ATM fees.

Minimum balances

Some accounts require a minimum balance to avoid a fee. In the New York metropolitan area, for instance, that minimum can range from $1 for an account at Wilber National Bank (GIW) that earns 0.5% in interest to $2,500 for an account with Intervest National Bank (IBCA) that earns 1.25% in interest. Accounts with higher interest rates often require higher minimum balances, but not always -- Beacon Federal Bank (BFED) offers a higher interest rate (2.0%) but lower minimum balance ($1,000) than Intervest National Bank.

For more rate offers in your area, check out and enter your ZIP code to find out the best info for your area.

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