There's no reason to pay for a checking account. Find out the minimum balance for free checking and whether that figure is calculated as a daily or monthly average. If you'll be slapped with a charge (when you go below the minimum balance), take your business elsewhere. Those of you who tend to hit the ATM a few times a week should look for the bank with the most machines in your stomping grounds. If savings, not checking, is your biggest concern, shop for the highest interest rates. Be sure to check out the penalty for early withdrawals and other hidden service fees such as monthly maintenance charges.

Credit unions can be terrific "banks," and generally it's not difficult to join one. A credit union is a nonprofit, cooperative financial institution, owned and controlled by the people who use its services. Find out more at www.creditunion.coop. Before you open an account at a credit union, go over all the incidental charges—for instance, will it cost you to talk to a live teller?

Consider banking electronically. Many online banks will give you more services and higher interest simply because they have less overhead. Make sure the bank advertises its Federal Deposit Insurance Corporation (FDIC) membership. This government agency insures your deposits—up to $100,000 per account. —Suze Orman