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The bank was incorporated in 1990, and in 1994 changed its name to the Bank of Western Australia with the trading name Bankwest, in preparation for privatisation. [11] In December 1995, the Bank of Scotland acquired the bank, and as part of the sale agreement, offered 49 per cent of the shares in Bankwest to the public.
R&I renamed to Bank of Western Australia Limited, trading as BankWest: 1995: Challenge Bank acquired by Westpac (formerly Bank of NSW) 1995: Bank of Scotland acquired BankWest, and as part of the sale agreement, offered 49 per cent of the shares in BankWest to the public. BankWest shares listed on the Australian Stock Exchange on 1 February ...
Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2000s this has become the most common way that customers ...
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With an online bank, your banking tasks are completed through your computer, phone or smart device — from opening your account, to setting up your login details, to actively managing your money.
It was the world's first single bill payment service adopted across a national banking sector. [3] In 1998, 16% of Australian households had residential internet service; ten years on, the figure had risen to 67%. BPAY is considered a driver for online banking. [2] In 2001, 56% of payments were authorized by phone, and 44% were executed online.
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