Bankwest
Bankwest is a retail banking division of Commonwealth Bank of Australia, headquartered in Perth, offering transaction accounts, savings products, credit cards, and home loans to Australian consumers primarily through digital channels and a mortgage broker network.
- Company typePrivate
- Founded1895
- HeadquartersPerth, Australia
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What Bankwest does
Bankwest is a retail banking division of Commonwealth Bank of Australia (CBA), Australia's largest bank by market capitalization. Founded in 1895 as the Bank of Western Australia and headquartered in Perth, Bankwest provides personal and business banking products including transaction accounts (Easy Transaction Account, Offset Account, Retirement Advantage Account, Joint Accounts), savings products (Easy Saver at up to 5.75% p.a. introductory, Hero Saver with bonus interest, Term Deposits), credit cards (Zero, Breeze, Qantas, and More Mastercards with Virtual Card capability), and home loans (Simple, Complete Variable, Fixed Rate, Construction, and Bridging loans). The company distributes these products through a direct-to-consumer digital channel (the award-winning Bankwest App) and a mortgage broker network that has earned eight consecutive MFAA Non-Major Lender of the Year recognitions and the 2025 Australian Mortgage Awards Bank of the Year.
The company's technology stack centers on a mobile-first digital banking platform with the Bankwest App as the primary customer interface, featuring virtual cards, biometric security, in-app messaging, goal tracking, multi-currency views, and PayID integration. A separate Broker Portal supports accredited mortgage brokers with application tracking, digital ID verification, and DocBox document sharing. Integrations include Apple Pay, Google Pay, Samsung Pay, BPAY, and DocuSign. The Bankwest App received Gold at the 2025 Good Design Awards.
Bankwest's revenue is derived from interest income on home loans and term deposits, credit card annual fees (ranging from $0 for Zero Mastercard to $320 for Qantas World), transaction account fees (largely $0 except $10/month offset fees on non-package loans), and the Complete Home Loan Package at $395/year. Bankwest is a wholly-owned division of CBA and does not disclose revenue independently. In April 2026, CBA announced approximately 120 job cuts across the group as part of an AI integration initiative, with 43 positions attributable to Bankwest.
Bankwest firmographics
Firmographics- Name
- Bankwest
- Legal name
- Bankwest (a division of Commonwealth Bank of Australia)
- Website
- https://bankwest.com.au
- Company type
- Private
- Founded year
- 1895
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Bankwest is a retail banking division of Commonwealth Bank of Australia, headquartered in Perth, offering transaction accounts, savings products, credit cards, and home loans to Australian consumers primarily through digital channels and a mortgage broker network.
- Ownership category
- akta.pro rank
Bankwest industry classification
Industry- Product category
- Retail Banking
- NAICS
- Depository Credit Intermediation (5221), Credit Card Issuing (52221)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industry
- Credit Cards & Revolving Credit (FSABAAAC)
Keywords
Where Bankwest is headquartered
LocationHeadquarters
- HQ city
- Perth
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Bankwest business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Credit Card Fees: Annual fees from credit card products ranging from $0 (Zero Classic) to $320 (Qantas World). Also includes balance transfer fees (1-3%), cash advance fees, and late payment fees.
- Home Loan Interest: Interest income from variable and fixed rate home loans. Variable rates from 6.24% p.a. (Bankwest Simple Home Loan) to 6.69% for higher LVR products. Complete Home Loan Package at $395/year adds additional revenue.
- Term Deposits: Fixed-term deposit products where Bankwest pays set interest rates (e.g., 5.20% p.a. for 12 months). Minimum investment $1,000 up to $10,000,000.
- Transaction Account Fees: Monthly account fees on offset accounts ($10/month unless on Complete Package), with most transaction accounts offering $0 fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Easy Transaction Account - $0 monthly fee with no ATM, foreign transaction, or maintenance fees |
| Subscription | Monthly | Retirement Advantage Account for customers aged 55+ with tiered interest rates |
| Subscription | Monthly | Easy Saver - High interest savings with 4-month introductory rate |
| Subscription | Monthly | Hero Saver - Bonus interest savings account rewarding balance growth |
| One time/ perpetual license | Pay-as-you-go | Term Deposits - Fixed interest rate investments from 1 month to 5 years |
| Subscription | Annual | Zero Mastercard - No annual fee credit card |
| Subscription | Annual | Breeze Mastercard - Low rate credit card with balance transfer offer |
| Subscription | Annual | Qantas Mastercard - Qantas Frequent Flyer rewards credit card |
| Subscription | Annual | More Mastercard - Rewards credit card with points redemption |
| Subscription | Annual | Complete Home Loan Package - Bundle of home loan with offset accounts and credit card |
| Subscription | Monthly | Offset Transaction Account monthly fee (non-package) |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Bankwest product offering
Product offeringCore offering
Bankwest is an Australian retail bank providing everyday banking, savings, credit cards, and home loans to individual consumers, with mortgage distribution support through accredited brokers. It operates the Easy Transaction Account, Easy Saver, Hero Saver, Term Deposits, four Mastercard credit cards (Zero, Breeze, Qantas, More), and variable, fixed, construction, and bridging home loan products, all served through the Bankwest mobile app, website, phone banking, and broker portal.
Product overview
Bankwest is a retail banking division of Commonwealth Bank of Australia offering a comprehensive suite of banking products. The product portfolio centers on transaction accounts (Easy Transaction Account, Offset Account, Retirement Advantage Account, Joint Accounts), savings products (Easy Saver, Hero Saver, Term Deposits), credit cards (Zero Mastercard, Breeze Mastercard, Qantas Mastercard, More Mastercard with Virtual Cards feature), and home loans (Simple Home Loan, Complete Variable Home Loan, Fixed Rate Home Loan, Construction Loans, Bridging Loans). Digital services include the Bankwest App (mobile banking with virtual cards, subscriptions manager, property insights) and Broker Portal (for mortgage broker loan management). The Complete Home Loan Package bundles home loans with offset accounts and credit cards. All products integrate with digital payment systems including Apple Pay, Google Pay, Samsung Pay, BPAY, and PayID.
Differentiator
Problem solved
Functional benefit
Products and services
- Easy Transaction Account An everyday bank account designed for primary consumer use, with no monthly fee on the related Everyday account offering and up to $0 monthly fee on the linked secondary account. Targets individual consumers managing daily spending, salary crediting, and PayID/NPP real-time payments.
- Offset Account A transaction account whose daily balance is offset 100% against the linked variable home loan balance, reducing interest charged without changing loan repayments. Designed for variable home loan customers who want to reduce interest costs using their savings and salary inflows.
- Retirement Advantage Account An everyday bank account for Australians aged 55+ that charges no monthly account fee when the customer is receiving the Age Pension, with tailored statements and a calendar tool to help track retirement income. Targets retirees and pre-retirees.
- Easy Saver A savings account paying bonus interest when monthly conditions (such as depositing and not withdrawing) are met. Targets everyday consumers building short-term savings.
- Hero Saver A high-rate bonus savings account paying up to 5.75% p.a. when monthly conditions are satisfied. Targets consumers seeking maximum returns on at-call savings balances.
- Term Deposit A fixed-term deposit product offering a guaranteed interest rate for a chosen term, with interest options paid monthly, annually, or at maturity. Targets consumers with lump-sum savings seeking capital protection and predictable returns.
- Zero Mastercard A no-annual-fee Mastercard credit card with a low ongoing purchase interest rate. Targets cost-sensitive consumers who carry a balance and want to minimise fees and interest charges.
- Breeze Mastercard A Mastercard credit card with a low annual fee offering an introductory 0% interest rate on purchases for a promotional period. Targets consumers planning a large near-term purchase or seeking to defer interest costs.
- Bankwest Qantas Mastercard A Qantas-earning Mastercard credit card awarding Qantas Points per dollar spent plus an annual Qantas Points benefit on card anniversary. Targets frequent travellers and Qantas Frequent Flyer members.
- More Mastercard A Mastercard rewards credit card awarding points on spending combined with an introductory 0% interest rate on purchases for a promotional period. Targets consumers wanting both rewards earn and deferred interest on planned purchases.
- Bankwest Simple Home Loan A basic variable-rate owner-occupier or investor home loan with no package fee, no offset, and no annual fee. Targets price-sensitive home loan customers seeking a low-fee variable rate.
- Complete Variable Home Loan A variable-rate home loan sold within the Complete Home Loan Package including a 100% offset account, annual fee waiver thresholds, and benefits. Targets owner-occupiers and investors who want offset, packaged benefits, and are comfortable paying a $395 annual package fee.
- Fixed Rate Home Loan A fixed-rate home loan that locks the interest rate for a chosen fixed term, providing repayment certainty. Targets consumers who want rate certainty and protection against rising rates during the fixed term.
- Construction Loan A construction home loan that releases funds in progress payments tied to building stages. Targets consumers building a new home or undertaking a major renovation, instead of an established purchase.
- Bridging Loan A short-term bridging home loan covering the funding gap between settlement of a new property purchase and the sale of an existing property. Targets homeowners upgrading or relocating.
- Complete Home Loan Package A home loan package bundling a variable home loan, 100% offset account, and additional card and account benefits at an annual package fee of $395 (waivable on conditions). Targets owner-occupiers and investors who want offset features in a single bundled product.
- Virtual Cards A digital card feature that issues temporary virtual card numbers usable online or tokenised into digital wallets (Apple Pay, Google Pay, Samsung Pay), reducing card-not-present fraud. Targets existing Bankwest credit and debit cardholders wanting safer online and in-store payments.
- Bankwest App A mobile banking application providing account management, savings Goals, card controls, biometric login, and PayID/NPP payments to individual Bankwest customers. Targets the bank's digitally active retail customer base.
- Broker Portal A web-based portal enabling accredited mortgage brokers to submit, track, and manage Bankwest home loan applications on behalf of their consumer clients. Targets accredited Australian mortgage brokers distributing Bankwest home loans.
- DocBox A secure digital document upload facility used by mortgage brokers and their clients to submit supporting documents (e.g., payslips, IDs) during the Bankwest home loan application process. Targets brokers and the consumers they represent.
Companies that use Bankwest
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles3 records
Bankwest technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature4 records
Bankwest partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- QantascoreBankwest issues co-branded Qantas Frequent Flyer credit cards (Platinum and World tiers) that earn Qantas Points on everyday spending. Qantas waives the $99.50 Frequent Flyer joining fee for Bankwest customers. The partnership provides travel insurance and access to Qantas Marketplace rewards.
- MastercardcoreBankwest issues Mastercard-branded debit (Platinum Debit Mastercard) and credit cards (Zero, Breeze, Qantas, More Mastercards). The partnership enables contactless payments, Apple Pay, Google Pay, and Samsung Pay integration.
Scale indicators2 records
Recent moves6 records
Expansion highlights5 records
Bankwest competitors and assessment
Company assessmentEmerging players
- ME Bank (Members Equity Bank): Australian digital-first challenger bank offering transaction accounts, savings, and home loans with a strong digital and broker channel focus. Comparable to Bankwest as a smaller non-Big-Four competitor pursuing similar rate-led positioning and digital-led acquisition.
Broad incumbents
- Macquarie Bank: Australian bank operating Macquarie Transaction Account, Savings Account, and home loans with competitive digital offerings. Comparable to Bankwest in retail deposit and broker-distributed mortgage channels, though Macquarie's product set spans broader institutional and wealth services.
- HSBC Australia: Australian retail banking operations of global bank HSBC, offering savings, credit cards, and home loans. Overlaps with Bankwest in retail deposit, credit card rewards, and home loan segments, but as part of a broader international bank with a smaller Australian retail footprint.
- Citibank Australia: Australian retail arm of global bank Citi, focused on credit cards (including Qantas co-branded products) and select banking products. Comparable to Bankwest in credit card rewards segment and a limited retail presence, though broader globally.
Direct peers
- Bendigo Bank: Australian retail bank with community banking presence, offering transaction accounts, savings, credit cards, and home loans. Comparable to Bankwest as a non-Big-Four challenger competing in the broker channel with a similar retail-and-mortgage focus.
- National Australia Bank (NAB): One of Australia's Big Four banks providing retail deposit accounts, savings, credit cards, and home loans. NAB competes directly with Bankwest in retail and broker-distributed mortgages, with overlapping digital and physical service models.
- Suncorp Bank: Australian retail bank offering everyday transaction accounts, savings, credit cards, and home loans (with a strong Queensland heritage, analogous to Bankwest's WA heritage). Direct competitor in the broker and digital channels for similar customer segments.
- ING Australia: Digital-first Australian bank offering savings, transaction accounts, and home loans with a similar mobile-app-led model. Comparable to Bankwest in targeting rate-conscious savers and digital-native customers through low-cost channels.
- Westpac: One of Australia's Big Four banks with a full retail banking suite (transaction, savings, credit cards, home loans). Competes directly with Bankwest nationally and through mortgage brokers, and similarly invests in digital banking capabilities.
- ANZ (Australia and New Zealand Banking Group): One of Australia's Big Four banks offering retail deposit accounts, savings, credit cards, and home loans nationally. Direct competitor to Bankwest in the mortgage broker channel and digital banking space, with comparable product breadth and a significantly larger scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Bankwest social profiles
Digital presenceBankwest financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bankwest leadership team
Management profileNumber of profiles
Profiles1 record
Bankwest funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bankwest M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bankwest
What does Bankwest do?
Bankwest is an Australian retail bank providing everyday banking, savings, credit cards, and home loans to individual consumers, with mortgage distribution support through accredited brokers. It operates the Easy Transaction Account, Easy Saver, Hero Saver, Term Deposits, four Mastercard credit cards (Zero, Breeze, Qantas, More), and variable, fixed, construction, and bridging home loan products, all served through the Bankwest mobile app, website, phone banking, and broker portal.
Is Bankwest a public or private company?
Bankwest is a private company. It is classified as corporate owned and is currently operating.
When was Bankwest founded?
Bankwest was founded in 1895. It employs 1,001 to 5,000 people.
Where is Bankwest based?
Bankwest is headquartered in Perth, Australia, in the Oceania region.
How does Bankwest make money?
Four revenue lines are on record. Credit Card Fees are the primary driver. The others are home Loan Interest, term Deposits and transaction Account Fees.
Who are Bankwest's main competitors?
ME Bank (Members Equity Bank) is listed as an emerging player. Broad incumbents are Macquarie Bank, HSBC Australia and Citibank Australia. Direct peers are Bendigo Bank, National Australia Bank (NAB), Suncorp Bank, ING Australia, Westpac and ANZ (Australia and New Zealand Banking Group).
Does Bankwest have an API?
No public API is recorded for Bankwest.
What industry is Bankwest in?
Bankwest's product category is Retail Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABAAAC, Credit Cards & Revolving Credit. Its NAICS code is 5221 and its SIC code is 6021.