Neobank Volt Bank has begun working its way through sections of its 40,000-strong waitlist as it works towards a public launch early next year.
Volt became Australia’s first challenger bank to receive a full fledged banking licence back in January but not accepted customers until now.
“We are taking our time to build every product and feature it in a prudent fashion, including by seeking feedback through our co-creation app, Volt Labs,” chief executive and co-founder Steve Weston said.
“When we launch to the public in 2020, Volt will be a viable, well-understood and trusted option for everyday Australians.”
Mr Weston said that Volt was launching with a “highly competitive” 2.15 per cent interest rate on its savings account, and the rate isn’t subject to introductory periods, minimum monthly deposits or other “catches”.
AAP