It's an easy journey
Landing a free, no-worries checking account may be easier than you think.

Bankrate's Checking Account Pricing Study surveyed 1,276 accounts and found that the number of free checking accounts is at an all time high of 7.5 percent.

The 96 accounts that qualified as free in the Bankrate.com study met the criteria of no monthly service charge or per-item fees regardless of balance.

A per-item fee would be, for example, a charge for writing a check. Most institutions that impose such charges usually allow a customer to write a specified number of checks, perhaps 10, each month before the fee kicks in.

With any of the 96 checking accounts selected by Bankrate.com, you could write as many checks as you want and never pay a penny in per-item fees. Once the account is opened, you could let the balance drop as low as you want and never pay a monthly service fee.

Signing on for a free checking account does not make you immune to bounced check fees or ATM fees.

So make sure you have enough cash in your account for each check you write. Make note of your bank's ATM policies when you open your checking account.

Free checking accounts are primarily the domain of small and regional financial institutions. But some larger banks, such as Washington Mutual, offer free accounts as well.

Looking for a free checking account that pays interest? It's best to hop online. Twenty-eight percent of Internet banks offer these accounts. Only 1.6 percent of interest-bearing accounts at traditional banks can be classified as free.

This search engine will help you locate free checking accounts from Internet banks.

Free checking -- if ...
Keep in mind that free checking can mean different things to different institutions -- and consumers.

Bank of America's MyAccess checking account didn't qualify as free for the Bankrate.com study because unless a customer uses direct deposit for a payroll, Social Security or some other regular payment, there's a $5.95 monthly maintenance fee. But Bank of America considers MyAccess a free checking account.

Comerica Bank, based in Detroit, offers free checking if you meet one of three requirements: you're a homeowner, you're willing to direct deposit a payroll or government payment check, or you'll maintain a $500 minimum balance.

In fact, if maintaining a minimum balance of $500 or writing fewer than 10 checks a month is fine with you, then the universe of free checking accounts becomes much larger. These days, it's tough to open a newspaper without seeing an ad proclaiming free checking.

Many financial institutions offer "free" checking with "package accounts" that combine several of your accounts -- such as savings and CDs -- on one monthly statement.

Study these offers carefully. Even though the free checking part of the package may seem to be a good deal, the rest of the package may not be. You may be able to earn higher rates on the other accounts at different banks. If so, you'd be better off passing on the package account and splitting your money among different institutions.