Important change to Bankwest Business Banking services

Effective 1 June 2022, Bankwest will no longer offer new business products, except through Bankwest Business Banking Relationship Managers.

An important change to Bankwest Business Banking services

At Bankwest we regularly review how we can continue to meet the changing needs of our customers. As a part of the Commonwealth Bank Group (CBA), Australia’s largest financial services provider 1 , these reviews include consideration of how the Group, as a whole, can contribute to meeting these needs.

In February 2022, we announced that we will offer to progressively transition existing Business Banking customers to Commonwealth Bank products and services.

We can now confirm that from the 1 June 2022, we will no longer offer new business products, except through Bankwest Business Banking Relationship Managers. Instead, we will offer to redirect our customers who require new business products to CBA for their business banking needs. This also includes Home Loans with trust structures.

All customers with existing business products will continue to be serviced via the usual channels for product maintenance requirements at this time. However, in Small Business, some requests to vary existing facilities may not be possible. We will do our best to accommodate variations where we can, and if we can’t, we will offer to direct customers to CBA.

We believe offering our business customers access to CBA’s market leading products and services 2  is the best way to meet their needs and support them in continuing to achieve their goals in today’s demanding market.

Our Business Banking team has created a powerful legacy, helping many businesses grow and create new jobs to expand the WA economy over many decades, and they will no doubt continue to contribute to WA’s bright future.

While we acknowledge this is a significant change, we believe we will be better able to meet more customer needs with greater simplicity and ease.

Want to know more?

Frequently asked questions

1

Why are you making this change and what are the benefits?

CBA Business Banking is heavily investing in new and innovative ways to improve and expand their products and services to better meet customer's needs.

Customers without a relationship manager who choose to apply for new business banking products with CBA will be supported by CBA's broader range of products and services including market leading digital products 2  and powerful technology capability.

2

What does this change mean for me and what impact will it have on my business?

From 1 June 2022, we will no longer offer new business products, except through Bankwest Business Banking Relationship Managers. Customers without a Relationship Manager, enquiring about a new Business Banking product, will be offered a redirect to CBA.

Relationship managed customers will continue to have access to additional Bankwest Business products and services including maintenance activities such as variations as we work through our transition to CBA products and services.

There will be no changes to existing banking products or services at this time. The terms of your existing lending facilities will remain unchanged, and all account maintenance will continue to be handled by our team.

We are committed to minimising customer impacts and disruption. If you feel this change will impact you, please contact us to discuss your banking on 13 7000.

3

When will Bankwest commence the offer to redirect customers to Commonwealth Bank (CBA)?

From 1 June 2022, we will no longer offer new business products, except through Bankwest Business Banking Relationship Managers.

From this date, if you do not have a relationship manager, we will offer to redirect any new business enquiries about Business Banking products to CBA.

4

Am I still able to apply for new Bankwest Business products and services or amend my existing facilities?

From 1 June 2022, we will no longer offer new business products, except through Bankwest Business Banking Relationship Managers. Instead, if you do not have a relationship manager, new enquiries about Business Banking products will be offered a redirect to CBA. Additionally, some requests to vary existing facilities may not be possible. We will do our best to accommodate variations where we can, and if we can’t, we will offer to direct customers to CBA.

Customers can continue to contact us via the usual channels, and we will work with them to determine the best way to fulfill their requests.

5

How can I be sure that I will receive the same levels of service I have at Bankwest?

Our customers remain at the heart of everything we do, and we are committed to retaining every Bankwest Business customer. Customers can continue to contact us via the usual channels to better understand how we will support them through this change.

How can we help?

Business Specialists Team

Speak with someone from the team today

Business Banking Specialists

Here’s how to get in touch

  1. Commonwealth Bank Group (CBA), Australia’s largest financial services provider - As recognised by Canstar, Commonwealth Bank is Australia’s largest financial services provider as quantified by 'size of home lending to owner-occupiers', 'size of home lending to investors' and 'by size of deposits held'.
  2. In 2021 Commonwealth Bank was recognised by independent research firm Forrester today, with the CommBank app being ranked as Australia’s number one mobile banking app for the fifth consecutive year. This follows CBA being awarded the 2021 title for two of Canstar’s Bank of the Year awards, for Mobile Banking and Online Banking.