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Bank branches set for further decline

The telephone and internet will over take branches as the most popular place for banking within the next five years according to the Financial Times.

The FT says a report from the Chartered Institute of Bankers, due out today, claims bank branches will rapidly decline with only 44 per cent of customers using the branch in 2004 compared to 60 per cent now.

CIB internet banking will become four times more popular over the same period with 28 per cent of customers using it in the future.

Telephone banking will be the preferred method for over a quarter of customers, while 10 per cent will use interactive digital TV.


CIS cuts premium rates for home insurance

Co-operative Insurance Society is slashing the cost of its home insurance premiums by between 2 and 4 per cent.CIS offers a range of buildings, contents and personal possessions policies and claims this is the fifth consecutive year it has reduced its rates.It is currently offering new customers taking out buildings or contents insurance an introductory […]

Standard Life asks for investor views on ethical investments

Genetically modified food, intensive farming methods and animal testing are among the main areas of concern for ethical investors a survey for Standard Life Investments has revealed.The survey has been sent to over 4,600 of the life office&#39s customers and 1,000 IFAs and is designed to establish if the current crop of ethical products satisfy […]

Abbey National launches fixed rate bond

Abbey National is launching a new three year fixed rate bond and hiking the interest rates on its range of &#34Choices Bonds.&#34The new Fixed Rate Reserve Bond 3 has a minimum investment of £2,000. The limited edition bond is paying 6.85 per cent gross until its maturity on November 1, 2001.Because the bond is aimed […]

Pension misselling will never happen again vows Brown

Chancellor Gordon Brown has vowed to never let pensions misselling happen again in his keynote speech at the Labour Party Conference. Brown lambasted the Tories for letting people be &#34ripped off&#34 in the first place and issued a stark warning to the pensions industry that the Government would clamp down hard on any future misdeeds.Brown&#39s […]


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