Online banking not everyone's cup of tea.

Online banking might be loved by techies, but according to research carried out for ICL by MORI, most people still think a bank should be on the high street - even if you can do some of your transactions on a home PC over the internet.

Half the respondents believed that a high-street presence remains important for banks, while only a quarter thought that a local service was not imperative. This increases when it comes to those who'd investigated banking online, with three quarters saying they'd trust their finances to an internet service backed by a high-street bank.

Things don't bode well for overseas banks - four out of five people said they wouldn't feel happy using a bank based in another country. There was good news, though, especially for Egg. More than half the people surveyed had heard of the online bank, giving it a higher score than Yahoo and Amazon, and well ahead of the Co-Op Bank's online service, smile.

See also:

Ecommerce: the online banking revolution

The internet is bringing about the second revolution in the banking sector in two decades. Julian Patterson looks at who the winners and losers are likely to be.  26 Jul 2000

Banking on ecommerce

No longer averse to taking a risk, the major high street banks are learning what the New Economy can do for them.  20 Jun 2000

Net startups threaten big banks' profit

Europe's 'bricks and mortar' banks will have to cut costs to maintain profitability in the face of increased competition from online rivals, according to a report published today by US investment bank JP Morgan.  05 Jun 2000

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