creating a comprehensive e-banking site.

The Bank's chairman and chief executive officer John Deuss, unveiled the plans at the Bank's annual general meeting yesterday.

The Internet access will be up and running by January 1, 2000 and will allow customers, through a password, to access their accounts, transfer money and pay bills.

"I was reluctant at first to embrace e-banking,'' said Mr. Deuss. "But the time has come to do this.'' BCB rolls out Net banking Mr. Deuss added that the bank had consistently been at the fore-front of banking technology, and once again was leading the way in Bermuda.

Mr. Deuss added: "We are moving from the concept of an old fashioned bank.'' The Internet Banking will go on-line next month, with customers able to sign up on the Net.

Other services will be added during the first three months of the year. These include investment, trading, financial advisory, trust, global custody and e-commerce services.

The system was created by Gary Barrett, general manager of information technology at the bank.

He gave more than 100 Bermuda Commercial Bank guests at a lunch yesterday a sneak preview of the site.

Mr. Barrett said: "Each customer will have their own password which will be known only to themselves, not to the bank. It will be a very safe system.'' He went on to explain that transfers could be made from account to account. He also revealed that the balance and transactions could be viewed in any currency through a currency converter.

Customers will also be able to transfer money from the Bermuda bank to banks in other countries in other currencies.

He also explained that on-line trading would be available for all customers by the end of the first quarter of next year.

Three years ago the bank introduced the first cash management system in Bermuda -- BCB Gold.

Over 1,500 accounts are currently being managed remotely on a real time basis through the BCB Gold electronic banking system The bank sees e-banking as the next step forward in the computerisation of their service.

E-banking will operate as a joint venture between Bermuda Commercial Bank and its major shareholder First Curacao International Bank.

"The service will operate seven days a week, 24 hours a day,'' said Mr.

Deuss. He added that the electronic platform will provide "an online gateway to financial services.'' The way ahead: John Deuss announces that from next year customers of his Bermuda Commercial Bank can go on-line with a new e-banking service.