Christmas has come early for Nationwide as it celebrates its millionth online banking registration.

"It has taken just 12 months to grow from 500,000 in Dec-ember 2000," said Philip Williamson, chief executive designate.

"For the past year, there has been an average of almost one registration per minute every day and night.

"This is fantastic and a reflection of the good sense of offering our services through branches, post and phone, and newer devices such as the internet.

"Nationwide now has 1.9 million current accounts, so the one millionth internet banking registration is a strong indicator of success."

Nationwide offered the UK's first retail internet banking service in May 1997, providing a service that complements, rather than replaces, more traditional channels such as the branch or phone.

"This recognised that customers want choice in how to do business with Nation-wide," said Mr Williamson.

"A series of further developments has extended the choice of access channels to include Personal Digital Assistants, WAP mobile phones and Internet TV."

The range of services on the internet bank includes:

Full service account management

The ability to apply for a wide range of accounts

A comprehensive online quotation service for mortgages, loans and insurance

Jim Willens, Nationwide's e-commerce director, said: "Achieving our millionth internet banking registration is a massive endorsement of the quality of Nationwide online.

"It also recognises the good sense behind providing a fully integrated service.

"We offer our members a choice of access channels and, clearly, that is what they want."