service.

The delay is due to problems "dealing with security issues and integrity both for customers and the bank'', said Garry Barret, manager of information technology at the bank.

A press release will be issued today to explain the reasons for the delay.

The Internet service should have been up and running on January 1, but according to Mr. Barret "there is always an element of the unknown that could cause a delay but the problem wasn't unusual''.

The bank's chairman and Chief Executive Officer John Deuss unveiled the plan at the bank's annual general meeting in December and the service would have provided a comprehensive e-banking site.

The proposed system was created by Mr. Barret who gave a sneak preview of the site to more than 100 BCB guests last year.

At the preview he said the system would be very safe as customers would have their own password which would be known only to themselves.

He also explained that transfers could be made from account to account and transactions could be made from the Bermuda bank to overseas banks in any currency.

The bank sees e-banking as the next step forward in the computerisation of their service.

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