No surprise, then, that banks tend to give the best deals to customers with whom they have multiple financial relationships, including mortgages, investments and credit cards. One of Wells Fargo’s accounts, for example, waives a $15 monthly maintenance fee if the customer has a mortgage with the bank.

Consumers thinking of taking out mortgage or auto or credit-card loans would do well to see what their bank has to offer. But they also should shop around. A customer who has all of his banking services tied up with one institution might be missing good deals on other products from rival banks.

“If you want the convenience of everything under one roof, it may help reduce the cost of your checking account, but that doesn’t mean it will be your lowest-cost banking option,” says Bankrate.com’s Mr. McBride.

He notes that some of the country’s largest banks typically pay low interest rates on savings and certificates of deposit.

Local community banks and credit unions are likely to hang onto free checking longer than their bigger rivals. That is because such institutions will see less of a financial impact from some of the new regulations, and therefore may be under less pressure to add fees. Smaller banks often promote themselves as being customer-friendly, with products that are less complicated than those offered by big banks.

One downside to smaller institutions is that they usually don’t have extensive ATM or branch networks. That means consumers who travel often could get stuck paying out-of-network fees for cash withdrawals if they use another bank’s machines. Such fees can add up quickly.

Consumers with interest-bearing checking accounts, which typically accompany the higher-fee accounts and carry high minimum-balance requirements, need to be especially vigilant. Those balance requirements can change, and might be disclosed only in fine print. And a customer who dips below the minimum level could wind up losing the interest for that month. Rack up enough months without interest and the extra fees for the account wouldn’t pay off.

Banks are also providing a slew of other options—sometimes at a cost. One of Fifth Third’s checking accounts, for example, includes a $3.95 monthly debit-card fee unless a customer rings up $1,500 worth of activity on the card. The same account offers fraud alerts for $5.95.

One weapon at consumers’ disposal: their vocal cords. If a customer complains enough, a bank might be willing to waive it or extend the current bank service for a certain period of time.

“Call the customer service line and say you don’t like the fee,” says Ms. Hillebrand of Consumers Union. “Banks are experimenting and pioneering, and if customers aren’t vocal about what they don’t like, the bank will think that their new plan is working.”

The squeaky-wheel approach can be especially effective face-to-face in a small-town branch. That is because local bankers sometimes have flexibility in what they can offer their best customers.

Bank executives know they are walking a tightrope when it comes to imposing fees. Many of them remember how First Chicago NBD Corp. received negative publicity in 1995 when it started charging customers who went to the teller line instead of using an ATM.

“Everyone is focused like a laser beam on the question of how to replace the revenue that is either already gone or is under threat, but no one wants to be the 2010 version of First Chicago,” says Michael Poulos, who runs the financial-services practice at consulting firm Oliver Wyman, a unit of Marsh & McLennan Cos.

Now that TCF has eliminated its free-checking account, David Ecale is required to keep a balance of $500 if he wants to avoid a $15 monthly fee. Mr. Ecale, a real-estate agent who has been a customer of the bank since 1981, isn’t happy, but sympathizes with the bank’s decision.

“It’s frustrating,” he says. “I hate to say this, but the bank has to cover its costs.”

His checking balance on Thursday afternoon: $500.10.

From WallStreetJournal