Based on the materials that I received, the only account that I have that will change at this juncture is my old WAMU "free checking" account. Maybe it varies from state to state (I am in California).

I just opened a new business account with Chase that came with a UA CC (30k miles bonus after 1st charge). I was instructed that, so long as I use the CC once a month, I will not incur fees. I plan to charge my virtual office rent to that card, plus some other monthly bills, so that's a piece of cake.

As noted above, my old WAMU "free checking" is no longer free, but my banker is linking it to yet another business account that I have (in addition to my own business, I am Treasurer of another organization) that has a decent average balance (typically $20k+) and -- according to my banker -- it will keep that checking account free. I went into the bank to close that account, as I have plenty of other accounts (as emphasized in this post!) and don't really need it. It was never linked to a FF account.

I was further informed that my "second" personal account at Chase will continue to be free, so long as I do the 5 credit transactions each month with my CO debit card. They said that, given the balance in one of my business accounts, I get 2 free checking accounts, so I assume I could change it to that.

I'm far from an expert and frankly fairly lost, but, for now, I have left all of my accounts open. I have gotten roughly over 100,000 in miles from Chase, so I'll ride it out to make sure the banker isn't giving me bad info.