Well, after signing up it seems the recent rate decreases have finally hit the Charles Schwab Investor Checking account. This week they dropped their interest rate from 4.0% to 3.21% like just about every other bank out there.

I still think its a pretty good deal for a checking account. ING Direct is only over this rate if you have a $50k+ balance, otherwise it is 2.50%. Presidental pays 3.50% on balances up to $25k, but requires a $1000 minimum to avoid fees.

No ATM fees anywhere, free checks, and no minimums also add quite a bit of value.