Internet customers bring less cash to Egg

NEWS The total customer base of the online bank set up by Prudential now stands at 1.33 million. However, the bank is attracting an increasing number of internet customers, who bring lower revenues than customers who only contact the bank by telephone. A spokeswoman for the bank estimated that 80 per cent of the bank's customers use the internet to manage their money. Customer recruitment has been boosted by the Egg/Boots credit and loyalty card, soft-launched with the high street pharmacy chain in September. Egg's losses this quarter have fallen. The bank shelled out only £154m on funds under management thus far this quarter, compared with £443m in the last quarter. Prudential intends to pilot current account, mortgage and insurance broking products before the end of the year, launching them to the public next year.