Type Subsidiary | Industry Finance and Insurance Founded 1997 | |
Products Internet and Phone based bank offering an integrated range of financial products and services for personal customers Website | ||
BankDirect is a direct banking division of the Australian owned ASB bank, providing internet and phone based banking in New Zealand.
History
BankDirect began in October 1997 and was the only bank in New Zealand to only operate via Internet and phone without any physical branches. BankDirect used the leverage of not having physical branches to offer lower home loan interest rates and higher interest rates on their savings accounts.
References
BankDirect Wikipedia(Text) CC BY-SA