It's because the banks no longer service small accounts.

... leaves one with zero reason to put their money in a bank.

Chase doesn't advertise their rates which suck compared to the Credit Union down the street. I'd be gone in an instant except for the investment shares. Its laughable what they pay on CD's.

for most individuals. Millennials IMO are fed up with the traditional institutions that have shown themselves to consistently be con artists and rip off operations. The zero rate interest policy is inane. Such a great deal for the financial institutions that now own the US government.

which is more about investment banking (M&A, IPO), research, sales & trading, etc.

Other than a way to translate a paycheck into usable cash, exactly what do banks offer to keep and gain customers?

It'll be fun to return the favor.