Could it be that, without the service offered by the local banks, he wouldn't use them at all? That it is their service that earns them a share of his banking, despite their noncompetitive rates?
Some people seem to have a difficult time comprehending this.
I think you're exactly right.
I was commenting on how that service doesn't earn what seems to be best 'sale'. Instead the big money gets shipped off to an internet bank that provides very little customer service. Meanwhile the local bank has to make do with his high service needs checking account.
There's nothing wrong with shipping it elsewhere, just don't tell us how customer service is going to draw business. I'll go by what he does rather than by what he says.
Kind of like living with one woman who fixes the meals, washes the cloths, makes the bed. Come time for some good lovin' and you rush off to someone else. And then claim that good cooking will 'always keep the man'!