Abstract: The article begins with an examination of some problems that arise in the course of the development of internet banking in China, and then analyses internet banking as a modern financial product in the light of whole product conception. Furthermore, adopting the logit model, the article makes an empiric al study of consumers preference for internet banking, their choice of the mo de of internet banking, and the perceived congruence between the distribution me thod and internet banking. Finally, some major modes of development for internet banking are proposed, such as host-to-host mode, internationalization, inter nal management and operation innovation