on 29-12-2015 05:27 AM
Bankwest was known for its savings account interest rate competitiveness in 2006 and 2007. The Telenet saver interest rate trumped all Australian banks.
Bankwest won the Best Online Savings Account by Money Magazine. I believe it won this category multiple times.
Do you ever consider leading in savings account interest rates again?
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29-12-2015 10:33 AM - edited 30-12-2015 03:59 PM
It's a good question @cgmitchell. We were operating in a very different economic environment at the time and it was clear that savings/deposits played a very strong part in our strategy however like with all banks operating in a very different market now, we've adapted our strategy and this has resulted in our savings rates remaining competitive but aren't market leading like you've pointed out.
Our customers will however find we have other great deals and offers with our other products. I can't commeent specifically on what our strategy is or how it'll change in future and what impact, if any, that'll have on our interest rates for savings accounts.
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on 06-01-2016 10:49 PM
What a shame about interest rates on savings accounts! But you're right, Bankwest is still offering some great products!
on 31-03-2016 05:19 PM
I have 2 accounts that are Estate of ...and I am the Executor. The rates are penalized low, and I cannot transfer funds from one of them....for some reson unknown to me. So therefore I cannot utilize on line banking like you want me to. The rate ius quoted today at 1 % in your Floreat Branch and I am disatisfied with this account .
on 01-04-2016 03:18 PM