The Reserve Bank of Australia (RBA) is custodian of a significant collection of colonial banking records. For the purpose of this guide, the colonial period is taken from 1788 when the Colony of New South Wales (NSW) was established, up to the federation of NSW, Queensland, South Australia, Tasmania, Victoria and Western Australia under the Commonwealth of Australia on 1 January 1901.

Bank account records commence in 1832, when the Savings Bank of New South Wales (1832–1914) was established to take the deposits of convicts and others in the Colony. Soon after, other banks were established to service more remote communities. Of these the RBA holds the records of the Moreton Bay Savings Bank (1856–65), the Queensland Government Savings Bank (1865–1920), the State Savings Bank of Tasmania (1896–1912) and the State Savings Bank of Western Australia (1863–1932). The records of the Government Savings Bank of New South Wales (1871–1931) also form part of this group of records. Initially in competition with the Savings Bank of New South Wales, the Savings Bank Amalgamation Act 1914 dissolved the Savings Bank in 1914 and transferred its property to the commissioners of the Government Savings Bank. As such the records of these banks, in their entirety, span a period of 100 years of banking in Australia.

Convict balances

Although convicts were thought of as penniless, they often arrived in the Colony with some money in their possession. This could be deposited on their behalf in one of the newly established private banks, where it was safe from theft or loss. As well as convicts, members of the general public, the militia, and other citizens were also encouraged to deposit funds brought with them.

The New South Wales Savings Bank, established in 1919 as a private bank, was an early Australian bank that accepted deposits. It was referred to as ‘Campbell’s Bank’ after its chairman, Robert Campbell. In 1832, an Act of Parliament established the Savings Bank of New South Wales as a public bank to replace Campbell’s Bank. Prominent citizens of the day, such as William Charles Wentworth, became trustees of the new bank, which was able to accept convict and other deposits, loan money for business purposes, hold mortgages and pay modest interest on savings. As a public bank, it allowed the colonial government to control money deposited on behalf of convicts, including how this money could be withdrawn – often for good behaviour or when a convict obtained their freedom (release).

Earliest account record

The Savings Bank of New South Wales account records date from the bank’s establishment in 1832 and are in the form of ledgers and registers. The earliest document held in the archives dates from 2 September 1824, and as such predates the bank. A legal document written on vellum, it is between John Austin and Thomas Wylde and relates to the release of 100 acres of land at Spring Cove in Sydney (near to today’s Petersham) for the sum of £100. The document is thought to have been transferred to the Savings Bank of New South Wales from Campbell’s Bank. It is one of a series of 7 documents relating to the transfer of the same parcel of land between 1824 and 1837.

Types of records

There are various forms of colonial bank account records, including depositor ledgers and vouchers, registers of deposits, cheque forms drawn on accounts, receipts, signature registers and passbook accounts. Other records created by the banks, that complement the bank account records, include trustees’ minute books and annual reports.

The banks often had branches in suburbs or outlying areas of the colony. These are stated in the title of the record or noted in the account information. The Queensland Government Savings Bank, for example, had branches in Brisbane and also Maryborough, Townsville, Warwick and Rockhampton. The Government Savings Bank of New South Wales depositors were spread across regional areas, including Braidwood, Kiama, Orange, Newcastle and Mittagong.

The records are mostly handwritten and have generally not been transcribed, so the content is not searchable electronically. Many contain alphabetical indexes to the contents. Some of these are separate records, while others form part of the record. Convict accounts are identifiable by the word ‘Prisoner’ next to the name of the individual. Some registers document additional information about the individual, such as their occupation and mark (signature or cross).

Prominent people featured in the bank accounts

A number of prominent people held bank accounts during the colonial period. These included convict turned businesswoman Mary Reibey, explorer Ludwig Leichhardt, artist Conrad Martens and Robert Campbell, who was the chairman of Campbell’s Bank. Of interest are the number of women who held accounts in their own names and, in some cases, considerable amounts of money. 

This information is drawn from records held by the Reserve Bank of Australia.
 

Early banking records were transferred to the Commonwealth Bank of Australia through mergers and amalgamations between colonial banks and the Commonwealth Bank. As the successor in law to the original Commonwealth Bank (1912–60), the RBA retains these records in its archives.

While many of the banking records have been digitised and are available on this site, due to their fragility or format, some were unable to be scanned and only their metadata is currently available online. For questions regarding these records, contact the archivist.