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There's no reason why you shouldn’t shop around and get the best deal possible. There’s no penalty for moving your money from place to place, so the only consideration is time and convenience. When you’re thinking about what branches are closest to you, don’t forget that there are web-based banks that often offer the big discounts as a way of getting new customers.

Compare offers at websites like Bankrate.com and go through the various features. The most common offer is free checking, but legally, that only means you won't have a minimum balance or activity requirement. You may be charged for bounced checks and other infractions, so read the fine print and see how free it really is.

You might want to consider a bank that offers an ATM card with airline mile rewards (Fiji, anyone?), a cash back bonus, or a bank that offers a refund for ATM fees you incur when you don’t use the bank’s own machine. Also note their rates on savings accounts and options for CDs and other investments.  

-- The Nest Editors

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