Aiming to simplify and increase the flexibility of banking for retail customers, Bank of Boston Corp. is combining 15 checking accounts into four and linking deposits, investments, and loans to waive fees and offer more advantageous interest rates.

The new accounts, known as the "Eagle" plan, eliminate monthly checking fees of $9 for customers with a minimum balance of at least $5,000. Rival Fleet Financial Group Inc., requires a $10,000 minimum balance to waive a $12 fee.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.