BankSA

BankSA have been operating in South Australia since opening its first branch in 1848. Its first depositor was an illiterate Afghan shepherd, who signed his account papers with an X. From such modest beginnings, BankSA has grown to be the largest financial institution in the state, today as well as its main provider of housing, personal finance and rural banking services. There are 120 BankSA branches across the state and more branches located in the Northern Territory. BankSA tries to be a good local – it is a sponsor of several state events and, through the BankSA & Staff Charitable Fund, makes donations to approximately 100 South Australian and Northern Territory-based charities each year. BankSA are part of the Westpac Group.

BankSA got its start in 1848 as two separate banks: the State Bank of South Australia and the Savings Bank of South Australia. The two banks would later merge as the Bank of South Australia, better known by its commercial name BankSA.

After mismanagement and bad banking in the 1980s, BankSA collapsed, was bailed out by the State Government, and merged with St.George Bank in 1992. It was decided to maintain the BankSA brand for operations in South Australia, with many of BankSA’s products and services being identical to St.George’s, including its credit cards. In 2008, both were absorbed by the Westpac Group.

BankSA offers a range or personal banking products for individual customers including accounts for everyday transactions and savings, home loans, credit cards, personal loans, insurance and investments, including online share trading. It tailors its services to specific types of customer, such as students, first-time homebuyers, savers and people wanting to consolidate their debts. In addition, it offers business banking services for all sorts of operations, from small businesses and entrepreneurs, commercial and agribusiness, to corporate and international services. BankSA Business Solutions include transaction and savings accounts, business credit cards, lending and finance, payment solutions and insurance.