[4] Headquartered in Sydney, Australia, the bank was founded in 2017 and was granted a full licence to operate as an authorised deposit-taking institution (ADI) on 21 January 2019.

[8][9] Volt Bank also has industry partnerships with PayPal, Cotton On and Collection House.

[10][11][12] The bank publishes a mobile app, Volt Labs App, through which customers hold discussions and give feedback on the bank's products and services.

[15] Volt Bank was issued with a RADI licence on 7 May 2018, the first organisation to obtain one under the new licensing framework.

[18][19][20] On 29 June 2022, in an email to its customer base, Volt announced their intention to cease their deposit-taking business and return their banking licence, the second neo bank to do so, following Xinja.