- BankWest products scoop two major awards
- BankWest Business deposits outgrow the system
BankWest Business, part of HBOS Australia, has claimed two major awards in the 2006 BRW Business Banking Awards.
The BankWest Business TeleNet Saver won the Online Business Saving Account award and the BankWest Business Bonus Account won the Business Transaction Account category as voted by the independent consumer information provider InfoChoice.
BankWest Head of Deposits and Transactional Services Shane O'Connor said that while it was fantastic to be recognised with the awards, the real validation came from the customer response to the products.
"When we launched these products earlier this year, we said we were determined to drive change in the banking industry and offer customers real banking alternatives," he said.
"We have seen fantastic growth in both these products and we are delighted that this has been recognised by the BRW Business Banking Awards."
Business Bonus was launched in March 2006 followed by Business TeleNet Saver in May 2006.
In 2006 BankWest's business deposits outgrew the market, growing more than three times the system growth of 9.5 per cent¹*. Mr O'Connor said products such as Business Bonus and Business TeleNet Saver featured strongly in this growth, with the Business TeleNet balances more than doubling over the past three months.
Mr O'Connor said BankWest Business would continue to grow its business by injecting more competition into the Australian banking environment with products and services that offer customers a better deal.
ENDS
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¹Based on September 2006 APRA data
Media Inquiries:
Natalie Causley - Media Relations Manager
HBOS Australia
natalie.causley@hbosa.com.au
Tel: (02) 8299 8261 or 0400 241 663
Notes to Editor:
The Product Disclosure Statement (PDS) for these products should be read by customers prior to opening an account. The PDS is available from the website www.bankwest.com.au
- The award winning Business TeleNet Saver is the market-leading business deposit account which offers a high variable interest rate of 6.10 per cent pa on "at call" funds with interest paid monthly on the full account balance and no confusing tiers or minimum balance requirements.
- The Business Bonus account, a market-leading business transaction account with cash management based interest rates, is flexible and allows customers to access more features at a lower price. This includes; a high rate of credit interest, free electronic transactions and no monthly maintenance fees.
About BankWest Business
BankWest Business provides a full range of core and specialist business banking products and services to all business market segments from small business to large corporates. From market leading transaction and investment accounts through to flexible business loans and sophisticated Financial Market and International Trade products, we are an organisation committed to making a meaningful difference in the financial services marketplace with our simple and straightforward products. Our energetic approach and attitude aims to reject the status quo and present a significant challenge to the conventions and the competition.
BankWest Business has a presence in capital cities, rural areas and regional locations throughout Australia. We focus on key markets including Property Finance, Small Business, Commercial, Rural and Regional and Corporate.
We also offer a flexible range of products and competitive lending guidelines across specialist industries such as Aged Care, Childcare, Hotels/Accommodation, Franchise and Pharmacy. We recognise the value of the going concern of a business, along with the value of its people and brand, not just its fixed assets or balance sheet.
Our business banking managers have been selected for their industry knowledge and experience and take the time to get to know their customers' business to find the best products and services to meet their needs.
BankWest has been around for more than 100 years and is now part of the HBOS Australia group with assets of over $39 billion. Backed by our parent company HBOS plc, one of the world's largest financial services groups, we are providing a fresh customer experience and challenging the Australian market. BankWest is the fastest growing business bank in Australia*, and because we are growing, we will try harder to help grow your business.
*Measured by market share growth, number of new managers hired and number of new Business Banking Centres opened.
