Ever-decreasing yields
For the first time since Bankrate.com started keeping track, more than half of all interest checking accounts offer a yield of less than 1 percent.

The average yield on interest checking has fallen to a piddly 0.97 percent, according to Bankrate's Checking Account Pricing Study.

The yield is especially pitiful considering that the average minimum balance required to open an account and earn interest is $695.10. That's a 5 percent increase from one year ago and a 1.5 percent increase since the Spring 2001 Checking Account Pricing Study.

This means interest checking account customers must hand over more of their hard-earned money to banks for the privilege of getting lower yields in return. Talk about a consumer unfriendly trend.

It makes more sense to plunk your excess cash in a money market account or certificate of deposit account and open a no-interest checking account instead.

You'll only need to pony up an average of $76.30 to open a no-interest checking account. That's just 38 cents more than the average three years ago.

And you'll be far less likely to be socked with a minimum balance fee. The average minimum balance to avoid fees on a no-interest checking account is at its lowest since October 1998 -- $408.16.

If you want to avoid monthly service fees on an interest checking account you'll have to keep an average balance of $2,434.50 in your account.

So where should you park your money?
Why not put that $2,000 some place where it will earn some real interest? Yes, the yields on CDs and money market accounts have fallen drastically this year, but they're still going to beat the 0.97 percent rate you'd get with a barely interest-bearing checking account.

This Bankrate.com search engine helps you pinpoint the best CD and money market rates in your area and around the country.

Still keen on keeping your cash in an interest checking account? Be sure to shop around. This search engine lets you see how your bank's interest checking account measures up.

Internet banks offer many of the best deals. This search engine will let you do an online-only search for interest checking accounts.

Of course, there's much more to choosing a checking account than deciding between interest and no-interest accounts. Ultimately, the best checking account for you is the one that closely matches your banking needs.

Banking needs vary from person to person. If you write a lot of checks, but don't mind maintaining a sizable balance, the checking account that fits your needs is different from the account that suits someone who writes relatively few checks and doesn't want to carry much of a balance.

We've made it easy for you to find the most suitable checking account for your needs. This interactive section from Bankrate.com lets you choose a metropolitan area and then select the checking "personality" that best fits your habits.