Banks using Twitter to develop relationships?

According to the MinnPost, some banks have turned to Twitter to help customer service. It points to this article at the USA Today which states that WellsFargo (Ask_WellsFargo) and Bank of America are just two of the banks jumping on the social media bandwagon to have better relationships with their customers.

Banking and social media may be a touchy subject. Although the banks are looking to develop a closer relationship with the customers, are mediums like Twitter the way to do it? What do you think?

The next generation's customer service

I found this article at Business Week which addresses how PNC Bank is attracting new customers daily. They're attracting 130 new customers a day for their simplistic new checking account called "The Virtual Wallet." They've spoken to the Generation Y by giving them a simplistic way manage their money online, with three simple options Spend, Reserve, and Growth. They've also limited the number of checks they can write in a month, and charge for transferring money over the phone.

Do you see this as the customer service of the future? PNC Bank has created a system where the only way they interact with their customer is through a website, but it's very popular with the young consumer, who will domoinate the market in 20 years. What do you think?