Bank tips

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1. Ask for a bank account's annual percentage yield when searching for an account. Banks often quote different interest-bearing figures which they calculate in different ways. Annual percentage yield is the standard interest yield calculated the same for all banking accounts everywhere.

2. Check and reconcile your bank statements. Banks make mistakes. If you believe you've been overcharged, make sure you talk to a bank representative in person to resolve the miscalculation.

3. Ask your bank if they offer special deals for shareholders. Many do and a purchase of a single share of their stock may be worth many times its cost in savings.

4. Ask your bank if they offer special deals or discounts for senior citizens. Some offer discounts to those over 55 years of age.

5. Consider online banking so that you can combine your accounts with a personal-finance management program such as Quicken. This will allow you to link your banking with your budgeting and financial planning.

6. Consider paying your bills through electronic bill-paying each month. Not only can it save you the monthly hassle of paying your bills, you also don't have to pay for any postage.

7. If you don't mind doing your banking from home, try a virtual bank. They tend to have lower fees and pay higher interest rates.

8. Look for banking services outside of banks. Credit unions, mutual funds and brokerage cash-management accounts all offer similar services as bank accounts, often with lesser fees.

9. Make sure to keep the minimum required balance in your bank account. Not doing so can cost you hundreds of dollars in extra fees each year.

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Electronic banking is part of the general move toward allowing integration between different bank accounts.This type of feature is similar to what retailers like Wal-Mart have when they take a customer's check, electronically scan it, get authorization for an electronic-funds transfer, and then give the approved and voided check back to the customer.