Account holders who prefer paper checks
High-yield requirement: Use online bill pay and electronic statements.
Some consumers continue writing checks because they don't want to make the change in electronic bill pay or they feel uncomfortable with innovations like automated bill payment. These types also want paper statements mailed to them.
"They may not completely trust e-commerce and prefer to hand a physical check over to a vendor or landlord," Alfidi says. "Either some old habits just die hard or maybe these people aren't aware that digital payment systems create the same audit trail as paper checks."
Also, if you work as an independent contractor or are in a similar position, and you receive several paychecks per month instead of one or two direct deposits, that's another reason to avoid high-yield checking.