P&N Bank

Name

P&N Bank

Legal name

Police & Nurses Limited

Website

https://pnbank.com.au

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

501–1,000 employees

Short description

P&N Bank is Western Australia's largest customer-owned (mutual) bank, offering retail deposit, lending, credit card, and insurance products to individual consumers through 13 branches, mobile lenders, contact centre, and digital channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices16 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: Primary revenue stream from interest charged on home loans, personal loans, and credit cards. The bank offers variable and fixed rate home loans, personal loans for vehicles and other purposes, and Visa credit cards.
2. Term Deposit and Savings Interest: The bank accepts deposits through savings accounts, term deposits, and everyday transaction accounts, paying interest to depositors while using those funds for lending activities.
3. Fees and Charges: Fees charged for various banking services including account maintenance, transactions, and early redemption of term deposits. The bank emphasizes low or no fees on everyday and savings accounts.
4. International Payment Fees: Fees charged for international money transfers: $15 for international transfers via mobile app or internet banking, $30 for telegraphic transfers in foreign currency, and $45 for telegraphic transfers in Australian dollars.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

P&N Bank provides retail banking products and services to individual consumers in Australia, primarily Western Australia. Core offerings include everyday transaction accounts, savings accounts (Savvy Saver, Hi Saver), term deposits ($5,000–$1,000,000), variable-rate home loans, personal loans, Visa debit and credit cards, insurance, and international payments. The bank distributes through 13 branches, mobile lenders, broker channels, Bank@Post, internet banking, and a mobile app under a customer-owned mutual banking model.

Product overview

P&N Bank is Western Australia's largest customer-owned bank, offering a comprehensive suite of banking products and digital services. The product portfolio centers around core deposit products (everyday transaction accounts, savings accounts including Savvy Saver and Hi Saver with tiered interest structures, and term deposits ranging from $5,000 to $1 million), lending products (variable and fixed home loans, personal loans, and credit cards), and insurance. Digital banking is delivered through internet banking, a mobile banking app, and the dedicated budgeting app 'mymo'. Payment services include Visa Debit/Credit cards, Osko real-time transfers, PayID, BPAY, PayTo, and international payment services powered by Convera. The bank also offers mobile lending specialists who travel to customers. All products are offered through a unified customer-owned banking model where customers are also owners, with profits reinvested into products, services, and community.

Differentiator

Problem solved

Functional benefit

Brands

• Savvy Saver Account: Savings account with competitive variable rate and bonus interest eligibility requirements
• mymo by P&N Bank
• Pay&Save
• Money Maker Term Deposit
• Regular Income Term Deposit

Products and services

• Everyday Transaction Account Basic transaction account for everyday banking needs, supporting deposits, withdrawals, and payments via Visa Debit card, online transfers, BPAY, Osko, and PayID. Targeted at individual consumers seeking a low-fee everyday account.
• Savvy Saver Account Savings account paying 5.25% p.a. standard + bonus variable rate. Bonus interest payable on balances up to $100,000 when customers deposit at least $500 from an external account and make at least 5 Visa card transactions monthly. Standard rate applies if conditions are not met.
• Hi Saver Account Savings account offering an introductory variable interest rate that converts to a standard variable rate once the promotional period ends. Designed for consumers seeking short-term promotional returns on deposits.
• Money Maker Term Deposit Fixed-term deposit requiring a minimum investment of $5,000 up to $1,000,000, with terms from 1 month to 5 years and various interest payment options. Interest is calculated daily and paid on maturity or monthly/quarterly/annually for terms of 12 months or more.
• Regular Income Term Deposit Term deposit variant designed to pay regular income to the account holder, available by contacting the bank directly. Suits customers seeking periodic income distributions from their term deposit investment.
• Basic Variable Home Loan Variable rate home loan for purchasing or refinancing residential property, with rates starting from 6.13% p.a. and a comparison rate of 6.16%. Comparison rate calculated on a $150,000 loan over 25 years with monthly repayments.
• Personal Loans Unsecured personal loans for various consumer purposes including vehicle purchases, home improvements, holidays, and other personal financial needs. Distributed through branches, mobile lenders, and digital channels.
• Visa Credit Cards Credit cards accepted globally through the Visa network with Visa Secure protection for online purchases at participating merchants. Available in multiple low-cost options for individual consumers.
• Visa Debit Card Debit card linked to a transaction account, enabling ATM withdrawals, in-store and online payments, Visa payWave contactless payments, and digital wallet integration (Apple Pay, Google Pay, Samsung Pay). Digital card can be provisioned immediately for wallet use.
• Insurance Products General insurance products including home and contents cover to protect customers' financial wellbeing. Distributed alongside the core banking offering to consumer customers.
• International Payment Service Service powered by Convera enabling international money transfers to and from overseas, accessible through internet banking and mobile app. Fees are $15 for standard international transfers via mobile app or internet banking, $30 for telegraphic transfers in foreign currency, and $45 for telegraphic transfers in Australian dollars.
• Cash Passport (Multi-Currency) Prepaid MasterCard multi-currency travel card providing secure access to multiple currencies for international travel, allowing customers to load and spend in foreign currencies.

Quantifiable outcome

• Bank of the Year - Roy Morgan Customer Satisfaction Awards 2023, 2024, 2025 (consecutive years)
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• ConveracoreTechnology or IntegrationConvera powers P&N Bank's International Payment Service, enabling customers to send and receive payments worldwide through internet banking or the mobile app.
• VisacoreTechnology or IntegrationP&N Bank issues Visa Debit and Visa Credit cards, protected by Visa Secure for additional security when purchasing online through participating merchants.
• BPAYcoreTechnology or IntegrationBPAY is offered by over 60,000 businesses for bill payments through internet banking or mobile app. Osko by BPAY enables real-time payments via the National Payments Platform.
• Customer-Owned Banking Association (COBA)coreStrategic or Co-development PartnerCOBA is the industry advocate for Australia's customer-owned banking sector, representing credit unions, mutual banks, and building societies. P&N Bank follows the Customer Owned Banking Code of Practice.
• Business Council of Cooperatives and Mutuals (BCCM)coreStrategic or Co-development PartnerBCCM is the national peak body representing co-operative and mutual enterprises. P&N Bank has signed the Co-operatives and Mutual Declaration of Climate Action.
• Grant Thornton AuditminorOthersGrant Thornton Audit Pty Ltd serves as P&N Bank's external auditor, located at Collins Square, Tower 5, 727 Collins Street, Melbourne VIC 3008.
• StoplineminorOthersStopline is an independently monitored external hotline and reporting service for whistleblower disclosures, available 24/7 via online, phone, and email.
• National Relay ServiceminorGTM or Marketing PartnerNational Relay Service enables deaf, hard of hearing, or speech-impaired customers to contact P&N Bank by calling 133 677 and asking for P&N Bank or 13 25 77.
• Minus18minorGTM or Marketing PartnerLGBTQIA+ youth organization supported through P&N Bank's grants program and corporate donations as part of the bank's commitment to rainbow inclusion.
• Wear It PurpleminorGTM or Marketing PartnerLGBTQIA+ advocacy organization actively supported by P&N Bank through grants, corporate donations, and participation in Wear It Purple Day activities.
• Rainbow Community HouseminorGTM or Marketing PartnerLGBTQIA+ support organization supported through P&N Bank's grants program and corporate donations as part of the bank's rainbow inclusion initiatives.
• Pride in DiversityminorStrategic or Co-development PartnerP&N Bank is a member of Pride in Diversity, supporting the organization's LGBTQIA+ workplace inclusion programs and initiatives.

Scale indicators5 records

Recent moves2 records

Expansion highlights5 records

Direct peers

• Bank Australia: Customer-owned bank with a strong ethical/ESG positioning, offering deposits, home loans, credit cards and insurance nationally. Direct peer to P&N — same mutual model, similar product mix and overlapping target market of values-driven Australian consumers.
• Greater Bank: NSW-based customer-owned bank offering deposits, home loans and personal banking. Direct peer to P&N as a regional customer-owned ADI competing against major banks within the COBA-aligned mutual sector.
• People's Choice Credit Union: Customer-owned credit union offering everyday banking, savings, home loans and personal loans to Australian consumers. Direct competitor to P&N within the customer-owned banking segment, with similar APRA ADI regulation and mutual ownership model.
• Heritage Bank: One of Australia's largest customer-owned banks, offering comparable deposit, home loan, personal loan and credit card products. Closest direct peer to P&N in mutual model, APRA-regulated ADI status and product suite — competing in the same national customer-owned banking category represented by COBA.
• Beyond Bank Australia: Customer-owned bank with national presence offering deposits, home loans, credit cards and community-focused banking. Direct peer competing in the same customer-owned value proposition space as P&N, with comparable product breadth.
• Teachers Mutual Bank: One of Australia's largest customer-owned banking groups (Teachers Mutual Bank, UniBank, Firefighters Mutual, etc.) offering the full retail banking suite. Direct peer given shared customer-owned model, APRA regulation and competitive positioning against major banks.
• BCU Bank: Customer-owned bank operating as a division of Police & Nurses Limited — the same legal entity as P&N Bank. Direct sister-brand peer serving NSW/QLD, useful as a near-perfect functional and operational comparable within the same corporate group.
• Credit Union SA: South Australia-based customer-owned credit union providing everyday banking, home loans and personal loans. Direct peer in the regional/state-level customer-owned banking category, comparable in scale, regulation and product offering.

Broad incumbents

• Commonwealth Bank of Australia: Australia's largest bank and dominant retail deposit and mortgage franchise. Broad incumbent whose Big 4 home loan and savings products directly compete with P&N's core offerings across the same WA consumer base.
• Westpac Banking Corporation: Major Australian bank with a strong WA retail presence and comprehensive deposit, mortgage and credit card products. Broad incumbent that competes with P&N across virtually every product line and is one of the main rivals for WA home loan and deposit customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/pnbankwa
• Facebookfacebook.com/PNBankwa

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about P&N Bank