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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.

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