The Bank of Bermuda launched the Island's latest internet banking service yesterday, EasyLink Online.

Offering the only real-time online banking service in Bermuda, EasyLink Online's 24 hour enrolment on business days means that clients registering online today will be banking online tomorrow.

Danny Fox, head of retail client services said: "EasyLink Online is an exciting expansion of our EasyLink services. It is quick, easy, convenient, and provides our clients with an even greater choice in how and when they want to carry out their banking. We know clients have been anticipating this service, and I believe they will find it well worth the wait."

Mr. Fox added: "Our primary focus when developing EasyLink Online has been to provide our clients with a sound, secure, quality internet banking service that can be developed where necessary over time. We believe that real-time capability is essential in internet banking going forward. Our clients want to know that the transactions they carry out online take place as they do them and that their account balances include all their latest transactions. With our clients in mind, we also wanted to make enrolling on EasyLink Online as quick and convenient as possible."

Mr. Fox said the service had been in development for quite some time and although it was meant to be launched in January, he said: "It is worth the wait."

He said : "The key issue is that we wanted real time capability, and you can't do that overnight."

Financial Fusion, one of the world's premiere IT security firms, is responsible for the security of the site as well as IBM who acted as project managers and did much of the testing.

Indeed, an external penetration test by an independent overseas security firm gave the site a clean bill of health, and one of those testing the site said he would be happy to leave his money with the bank.

Real-time banking means that when you pay a bill or transfer money with EasyLink Online, it happens instantly. Even transactions made at a branch, ATM or through EasyLink telephone banking will be immediately reflected online.

This compares with other online banking services that are "batch" based and can take a day to process certain transactions.

EasyLink customers do not even have to leave their home to sign up to the new service - which is free - and after registering online, customers will be called within 24 hours on business days.

They will be issued a temporary password, which will enable them to complete the enrolment process, put in the password of their choice, and start banking immediately.

Customers will then be able to view their personal account balances, review up to three months of account and credit card transaction details, transfer funds between accounts, pay utility and credit card bills, download account details to Quicken or Microsoft Money, and more. Services will also be added over time to expand the online capabilities as well as suggestions from customer feedback.

Mr. Fox said: "EasyLink Online caters to all our everyday banking needs, and its advanced technology will enable us to enhance the service as our clients needs change. Equally, we haven't last sight of the importance of a solid foundation built on security, usability and client support, which is essential for a successful service."

Mr. Fox also said that the online facility uses the highest encryption methods available so that EasyLink Online banking is safe and secure.

He also said that to support clients, there is both an online secure message centre which can be used at anytime, as well as internet service representatives on call.

To give support to new EasyLink Online customers, the Bank's internet service representatives will be working extended hours throughout February. They will be available to answer customers inquiries from 8 a.m. to 9 p.m. Monday to Friday and 8 a.m. to 5 p.m. on Saturdays.

To register online, visit: www.bankofbermuda.com.