BANK OF AMERICA King of thieves Internet

Checking accounts take a lot of work. You have to be able to keep records, update your check register, be familiar with your bank's funds availability and overdraft policies. Many people are tempted to use online banking to keep track of their balances and that simply isn't good enough. Online banking, phone banking or even ATM receipts were never intended to be used as a substitute for a check register and account holders are still responsible for the transactions that they authorize.

Bank of America will soon be changing policies but consumers will still have to be hyper-diligent when managing their checking accounts. It will still be possible to rack up overdraft fees, up to $140 in fees per day if one isn't careful.

There is good news though - It's quite easy to avoid paying overdraft fees to any bank. In fact, the vast majority of account holders do not pay overdraft fees. If anybody out there decides that they would like to keep their own money instead of paying overdraft fees, there are a number of steps one can take such as maintaining accurate records, always staying within one's available balance and knowing when deposited funds will be available.

However, some people are unwilling or unable to do the work that is required for a checking account. There's nothing wrong with that - if these people don't want checking accounts they can use prepaid credit cards or similar products.