I heard this on a blog, saw the rumor mill buried in a FT thread, and finally decided to call. Sure enough, they will be charging $12/month on all mileage checking accounts starting in Jan 2012. This fee is not waivable in any way (balance, usage, savings, etc.) Definitely reduces the effective interest rate unless you have a sizable amount of $$ in the account. I'll probably be moving back to a 'real' savings account.