Why closing a bank account may make sense

Like many other Americans I am rethinking my financial options. My bank is imposing fees that make me cringe. I have been reading about people who have closed their checking accounts for good. This never crossed my mind until a woman at the grocery store told me about it. She was buying a prepaid debit card and was glad to fill me in.

There are times when ditching your checking account may make sense. If you tend to overdraw an account (or occasionally relies on overdraft protection to pay bills) then closing a bank account may save money by eliminating those fees. 

The problem with closing accounts is the lack of serious alternatives. Checks have to be cashed or deposited. Bills have to be paid. Despite high fees and hidden charges, most consumers rely on an account at their bank or credit union to make this happen.

Keeping my money without paying high bank fees sounds very good to me. Call me cynical but I think I need those few dollars more than the banks do.