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My understanding always was that the chequing account was really nothing more than a sales vehicle -- to make you thier customer and thus make it easier to market investments and loans to you.
In fact, in "the good ole days", before instant electronic credit reports, the only way most people could get a loan was through thier bank, and only if the account had been in good standing for some time.
Now things have changed though, with "mortgage companys" that do nothing but mortgages, thus having no overhead. Independent credit card companys, and internet-banks.
Very true for good accounts. The customer who is not keeping any balances or who is bouncing checks usually has terrible credit or high D/I which knocks them out of most other banking relationships. The key is getting those accounts to grow along with the person so you have potential down the road. The "free" accounts are to get new people in the door but a lot of them end up being fee driven accounts or charge offs.
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