Letters

Controlling Bank Charges

Re: Watertight Cash Management, July 2003: The article accurately depicts the difficulty and resulting expense that many of our customers are encountering, namely the assessment of account analysis charges due to the low interest rate environment and thus the low earnings credit rate. I hope that most of my banking colleagues are not resorting to the "popular tactic ... [of piling] small but specific charges on top of basic fees," as stated by Mr. Gamble.

For business bankers, the advisory approach to providing value-added banking services is an excellent way to enlist loyalty in one's clients and provide a service that will differentiate most middle-market bankers from their competitors. The recommendation to bundle service packages is an excellent one.

As long as companies remember that banks have to make money in order to stay in business, the business client will hopefully get the level of service expected from the bank that it chooses to do business with.

FRED DENITZ
Regional VP
Mellon 1st Business Bank
Los Angeles