Upon completing his junior eligibility, Bannister spent a year and a half with the Atlanta Knights of the International Hockey League (IHL), Tampa Bay's farm team.

Bannister played in the minors for most of his career but saw time in the National Hockey League (NHL) with the Mighty Ducks of Anaheim, Edmonton Oilers, Tampa Bay Lightning, and New York Rangers.

In the 2007–08 season, he was named best defenceman while playing for Kassel Huskies of Germany's 2nd Bundesliga, and also won the championship which promoted the team to the Deutsche Eishockey Liga.

On November 16, 2010, Bannister signed for the Hull Stingrays in the British Elite Ice Hockey League as a player and assistant coach.

On July 29, 2011, Bannister was announced as a player and head coach of the Braehead Clan in the British Elite Ice Hockey League for the 2011–12 season, replacing Bruce Richardson.