[aptwebapps]

I'm not going to argue against the general thesis that the US banking system is antiquated, but I gotta pick these nits:

- Checks are usually free in the US.

- You don't usually get charged to have a checking account in the US.

- The lack of interest on most US checking accounts is due to the very low inflation rate and nearly zero federal rate. Adjusted for inflation, what is the interest rate of your Indian checking account? Back in the 70s when inflation was high in the US checking account that carried interest were not uncommon. I do seem to remember that they were called something else, but I can't remember right now.

[catchmrbharath]

- You don't usually get charged to have a checking account in the US.

I have to maintain a minimum balance of 1500$ for the checking account to be free.

>> - The lack of interest on most US checking accounts is due to the very low inflation rate and nearly zero federal rate. Adjusted for inflation, what is the interest rate of your Indian checking account? Back in the 70s when inflation was high in the US checking account that carried interest were not uncommon. I do seem to remember that they were called something else, but I can't remember right now.

Agreed. I got carried away trying to make a point :).

[maneesh]

Pick a different bank. Almost every bank I walk by offers free checking with $100 balance, or even less

[vinay427]

Pick an even better bank and you have no fees, non-negligible interest, and free ATM withdrawals with fee reimbursement worldwide. You'd have a hard time finding many other banks in the world that offer that.