He accepts that there is still demand for branches, for those who need to cash a cheque, sign for a mortgage or discuss their savings options face to face.

BBC: Do bank branches just need a makeover?

To the extent that PayPal and Checkout help to move cash and cheque purchases online, where they are subject to transaction fees, Visa and MasterCard welcome them.

ECONOMIST: Online payments

The bureaucracy is torpid, state industries creaky and banks take a month to cash a cheque.

ECONOMIST: An Arab state slouches towards democracy

With no end in sight to the crisis, businesses in Cyprus have been insisting on payment in cash, rejecting card and cheque transactions.

BBC: Cyprus crisis: Pressure grows over bailout