Get rid of Your Interest-Bearing Checking Accounts

My husband signed up for an interest-bearing checking account ages ago. Whatever pittance it paid then is nonetheless huge compared to what it pays now. I think it yielded 24 cents last year.

These types of accounts require a minimum balance. If you go below the balance, the bank will hit you with a fee. B of A charged us $11 when we dipped below. This is super-crappy and and has now sucked up any interest we would have made over a decades-long span.

Fortunately, it's easy to convert the account to a regular checking account that doesn't bear interest and doesn't require a minimum balance. Often, all the bank requires is that you have automatic deposits in your account -- something most folks have signed up for, at this point.

It was easy to ask for the conversion -- I did it through the B of A website, through their message feature. They switched it without complaint or pushback. Try it.