soon be able to conduct a lot more of their business by computer, the bank said on Friday.

Through a new service called BCB Gold customers can initiate electronic payments, make enquiries to bank representatives, transfer funds to other accounts or other countries, or get up to date foreign exchange rates, explained Ms Theresa Goater, client liaison for the BCB Gold cash management system.

"This 24-hour on-line banking systems allows clients to initiate electronic transactions like wire transfers overseas,'' said Ms Goater.

BCB, which caters to high net worth individuals -- those with minimum balances over $10,000 -- and to commercial clients, currently has three customers using the new windows-based service and has demonstrated the system to several others.

Said Ms Audette Exel, BCB's managing director: "Staff and management of BCB are very proud of the achievement which BCB Gold represents. The philosophy of BCB is to respond to the market's needs both with state-of-the-art systems and with personalised service.

"With BCB Gold, we are able to provide both; BCB customers can communicate directly with the bank 24 hours a day and, due to constant data downloading, clients can acquire truly up-to-date information on their accounts.'' "BCB Gold improves the quality of service. This is Bermuda Commercial Bank's means to satisfy our client's electronic banking needs,'' said Mr. Gary Barrett, information systems officer at the bank.

BCB has yet to determine a fee schedule for BCB Gold but customers will get their first three months free.

Mr. Tony Nagel, Chief Financial Officer, anticipated the cost to clients would be a flat fee of under $150 per month.

By the end of the year the system is expected to expand to include a securities module.

Clients will be able to access their private securities portfolios held by the bank's global custody department.

BCB Gold's security features include; encrypted information, password access, as well as a double-approval-based requirement, meaning transactions must be checked by a second individual at the source. Clients can also restrict access of specific users to specific options.

The new service also has user approval limits per transaction and per day and records all user access and all messages sent to, and received by, the bank.