First-e internet-only bank coming to UK

The UK's first internet-only bank is allowing people to open up accounts online before the group's official launch later this autumn. First-e features an introductory offer bonus interest rate of 0.5% above the base rate, currently 5%, on its savings account. This enhanced rate will be held until 31 January 2000. The bank is launching with a basic savings account only but will add further products before the end of the year, including a current account and investment and trading account facilities. Xavier Azalbert, chief executive officer for First-e, said: "Customers can carry out bank...