One of the markets leading internet banks egg.com allows individuals to do all the above plus it allows for costumers to get insurance quotes for they're cars, homes, travels, lives & health and emergency cover against thefts or losses of keys, wallets and cards etc (Egg.com, 2006).
HSBC are trying to cut counter opening times at branches as online customers are cheaper costing less than one tenth of normal branch customers, It is thought that many are in favour of online banking, while others are opposed to the thought of online banking, below are the views of a computer literate, middle aged working woman:
'I can manage fine with ATMs, internet banking and so on. But think about those who are elderly, visually impaired or otherwise struggle with technological advances. A friendly face at a counter is what they are used to and is probably what they want. My 80 year old father no longer uses an ATM out in the open. He gets his cash from a supermarket checkout, as he feels safer.' Carolyn Jones, UK (BBC News, 2002).
Barclays also announced that they are closing 200 banks leading to the loss of around 6000 jobs somewhat due to the materialization of internet banking It is also believed this will result in cost reductions of 200m a year (BBC