The new Halifax direct banking arm Greenfield.co is planning to launch this Spring.
The bank is aiming to offer current and savings accounts, loans, mortgages and a credit card through the internet, digital television and telephone by May.
Although the bank are yet to disclose its targets Greenfield.co chief executive Jim Spowart says he expects early growth to match that of Standard Life Bank when it was launched.
The banking arm has not yet settled on a final name.
But Spowart says: “I'm not too keen on the Smiley Eggy kind of names.”