6 tips for the best bank checking accounts

These six tips give you the scoop on how to get the maximum benefits from your bank checking account.

• Rewards checking accounts may offer ATM reimbursement. Some programs limit this benefit for high-yield account holders, or they may cap a limit on the reimbursement amount.
• Check out local community banks and credit unions for higher yields. In an effort to attract more depositors, these financial institutions often reward savers with better rates.
• Read all notifications from the bank to stay updated on your account terms. If the financial institution is lowering interest rates on your checking account, you will want that heads-up so you can look for other options.
• If you have a large sum stowed away in a high-yield bank checking account, be aware of balance caps. Beyond a certain amount, the remainder of an account balance isn't subject to favorable higher rates. The most prevalent balance cap is $25,000.
• Avoid abusing your checking account's terms. Some accounts may offer rewards in exchange for a minimal number of transactions each month. But using your debit card for several $1 purchases from the same vendor without other transactions will raise eyebrows.
• Make sure the traditional bank checking account is your best option. Some financial institutions offer a higher yield for customers who opt for paperless statements, direct deposit or online bill pay. Determine if you're comfortable with the monthly account requirements.