THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Sunday, September 24, 1995 TAG: 9509210006
SECTION: COMMENTARY PAGE: J4 EDITION: FINAL
TYPE: Letter
LENGTH: Short : 30 lines
Bob Herbert's ``Banks are becoming powerhouses; consumers should look out'' (Perspectives, Sept. 4) is right on the money.
We were faithful customers of a local bank for almost 15 years, through its many mergers and subsequent name changes. By the way, these many name changes do cost the consumers - in procurement of new checks, updating direct deposits, etc.
During the past few years, as this bank has grown, the various banking-service fees have gradually risen and the minimum balance necessary to avoid the checking-account service charges has also been increased. The bank's check debit card, a great consumer convenience, now has fees assessed.
With great reluctance, we had to find a smaller but more-personal bank. We had come to realized our two meager checking accounts and two IRAs weren't big enough to be of concern to such a large bank. It seems the little consumer is more of a nuisance than an asset to this type of bank. It does in fact seem that many banks have grown too big to care about the little guy.
DON and EVELYN MELIA
Virginia Beach, Sept. 12, 1995 by CNB