BankWest makes high yield account hard to get

BankWest is underplaying its promotion of a six per cent interest rate on a new online deposit account in its home market of Western Australia, with the bank targeting the high yield account at prospective customers in eastern Australia. The six per cent rate on BankWest’s at call TeleNet account is well above the 5.4 per cent available for a 12-month term deposit promoted on BankWest’s website. The six per cent offer is not mentioned on BankWest's website, though there is a link to a related BankWest website, www.abetterdeal.com.au. Customers in Western Australia can also apply through promotional material in branches.

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