"I completely agree. That is why I changed to my current bank. The branch I deal with in my business personally delivered a gift basket to our office as a thank you for our business. I have recommended them to 5 business owners I know in the last week."

- austinklee

"So true, I was tempted to change banks when I had to cash my check with a smaller bank that a previous employer used. Every time I went into the bank they were more personable then my current bank, they even remembered my name, something that would never happen at my current bank. I agree, I feel that the business world has forgotton about hospitality, when hospitality is key to a good business. Look at Chick-fil-a for instance, they are a fast food restraunt that serves a great product and has fantastic hospitality. By doing this they are able to charge more for there food when compared to other fast food restraunts."

- Eric Beatty

"For businesses - yes relationships are huge when it comes to banking.

Personal/consumer = if I have to step into a branch to get something I need that bank loses. If a bank has real estate in a few years it will equal failure. the 'new' way of banking (+growing regulation) will remove margins from the business model as they know it thus removing the ability for service relationships. Banking is a commodity now. Look at USAA and 'SmartyPig' --these are the banks of the future. Passing the savings from staffing/real estate into higher yield accounts, better technology, etc will win in the future --still good service, but not relationships per say."

- Roy

"Good thoughts Roy and others. I think there will always be a need for relationships in the banking world, regardless of technology advances. It also depends on how you define "banking". It is money markets, checking accounts, investments, savings, planning, etc?

For the smaller transactions (most common with "Banking"), I think you are 100% correct. Look at what iTunes did in the music revolution! No one can compete with prices once you reduce brick and mortar costs. Banks will ultimately fail when competing in a commoditized market.

On the other side, I could see big accounts that require high touch will still needing a "trust" factor. Higher net worth individuals, like yourself :) will still base purchasing decisions on relationships since they are the foundation of trust.

Overall, the undeniable truth is that banking is forever changed after this recession and with technology advances. How they innovate from here will be interesting to see, but I do believe we are still a long ways away from removing the relational necessities of our financial world."

- Blake Howard

"Studies show there are only two ways for a bank to build loyalty: Transparency and Benevolence.

Banks have created disloyal behaviors. As they've offered more "convenience" they've eliminated valuable touch points with their clients.

Financial institutions act as though consumers don't realize they are businesses. If banks would openly discuss things like how they make profit on each account or transaction, then the consumer could decide whether or not they are willing to pay for that service. There is parity in banking because the banks refuse to show their cards. Therefore, the consumer is left assuming, "all banks must be evil institutions hiding fees and looking to sneak dollars from my account."

A good bank should be easy to spot."

- Matt Bunk