Nationwide may offer Internet service
Monday 03 February 1997
Among the options being considered by the society are the offer of free or cheap access to its members, possibly restricting the service to certain customers.
But it has not ruled out mounting a direct challenge to service providers, such as Pipex, Virgin or Demon, by marketing cheap access to the Internet to all potential clients.
Its move raises the prospect of a bitter price war, as increasing numbers of institutions move to challenge existing providers by offering access as a simple bolt-on service.
Nationwide's move comes as increasing numbers of UK financial services institutions have set up "home pages" on the Net, providing information about their services to surfers. These include share information, mortgages, bank charges and fund managers' performances.
Barclays bank has gone one stage further, by setting up an on-line "shopping mall" through which one can visit a number of stores and purchase a range of goods.
Last month, Royal Bank of Scotland announced that it will offer banking on the Internet, claiming that it had cracked the problem of providing adequate security for users.
Up to now, the traditional mechanism has been to use a service provider to display a site on the Net, which can then be visited by any number of surfers, who themselves access the Net via a service provider.
The standard charge for access to the Net ranges between pounds 8 and pounds 12 per month, with callers paying additional phone charges at a local rate.
A Nationwide spokesman said the plans followed its move to expand its PC banking operation, which doubled to 10,000 after a simple mail- out. No firm decision has yet been taken.
- 1 Frank Lampard's face drops when Holly Willoughby introduces him as a 'Man City legend'
- 2 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 3 The confessions of men who ordered mail-order brides
- 4 General Election 2015: Stephen Hawking says he will vote Labour
- 5 Yazidi sex slaves undergoing surgery to 'restore virginity' after being raped by Isis militants
General Election 2015: Tories sack candidate who said she would never support 'the Jew' Ed Miliband
The four utterly contradictory polls that tell the story of this election and why it is pointless trying to predict the outcome
9/11: Iranian General accuses US of organising September 11 terror attacks
General Election 2015: Prospect of Labour-SNP coalition makes one in four voters less likely to support Ed Miliband, says survey
General Election 2015: Stephen Hawking says he will vote Labour
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
Andrew Lloyd Webber: Phantom of the Opera writer mocked after issuing a warning about Ed Miliband and Nicola Sturgeon
General election 2015: Labour will toughen hate crimes legislation surrounding Islamophobia
EU exit would hit UK economy much harder than neighbouring countries, study finds
iJobs Money & Business
£Basic (OTE) + Uncapped Commission: Guru Careers: A Stockbroker (qualified / p...
£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...
£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...
£25 - 30k: Guru Careers: We are seeking an Application Support Analyst / 1st L...