This is not a money center bank, but a boots on the ground retail operation serving customers in the states of New Jersey and New York.
Like WorldCom, the smaller company is taking advantage of its highly rated paper to buy a bigger and better-established operation that brings with it customers, retail presence and revenues.
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Esplex, which supplies new and used computer parts to customers worldwide, is moving its spare parts operation from Plymouth to Poland.
Calltrunk can record and store conversations made via any phone - fixed line or mobile - and has currently amassed more than 20, 000 customers worldwide after just over a year of operation.
The bank said in a statement that the decision to close the High Street advice operation "reflects the emerging trend that customers are increasingly purchasing and managing their investments online".
Abroad it's growing, with a huge cellular operation in South America and 3 million Internet customers in Europe outside Italy.
Investment banking operations were easily the most impressive segment of the massive operation which also services commercial and retail banking customers.
Its nonregulated wholesale operation supplies 7, 000 megawatts of power to customers like General Motors and Eastman Kodak.
Customers are much less forgiving when a company's Web operation runs out of a product than they are when a given store does.
Managing an on-line operation can create expensive technical problems, attract deadbeat customers or eat up untold hours that might be better spent on strategy or sales.
"Unfortunately, after a year's commercial operation, it was clear to us that despite many satisfied customers, the wider public take up would not be sufficient and that the support from the car producers was not forthcoming, " said Better Place CEO Dan Cohen.
"Unfortunately, after a year's commercial operation, it was clear to us that despite many satisfied customers, the wider public take up would not be sufficient and that the support from the car producers was not forthcoming, " said Better Place Chief Executive Dan Cohen in a statement.
The government countered that the crooks' operation, which included the armored-car service, routinely commingled customers' money.
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Its operation is staffed by locals, selling mostly local products to local customers.
There is also the risk that the high-ticket customers it acquired so expensively at U.S. Trust might find the association with the retail brokerage operation distasteful and flee to other trust institutions.
Overall, Asda Money is still dwarfed by the operation of Tesco Bank, which is fully owned by the supermarket, has 6.5 million customers, and - unlike Asda - has its own banking licence.
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