No-one was injured in the incident, which happened just after 3pm, when the vehicle mounted the footpath on Ballarat St and crashed into the bank, coming to rest in branch manager Chris Grocott's office.
A 67-year-old man from the Netherlands will appear in court next week charged with dangerous driving, as a result of the crash.
Mr Grocott told the Otago Daily Times yesterday he had been sitting in his office, which is next to Ballarat St, opening an account for a couple of customers.
''For a split second I heard the screech of tyres, then a massive explosion.
''When the noise stopped I had a car in my office and glass all over my customers and strewn right through the branch.''
Mr Grocott said there were about 10 customers in the branch at the time, as well as staff.
After ensuring they were OK, he contacted police.
No-one was injured, although one of the customers in Mr Grocott's office was ''quite shaken''.
''My office is absolutely munted and there was significant damage to the branch.
''The car took out a floor-to-ceiling glass window and our mural wall is badly out of shape.''
The scene instantly became Queenstown's newest tourist attraction, with visitors and residents eager to document the aftermath on cellphones and other cameras.
District Command Centre deployment co-ordinator Senior Sergeant Brian Benn, of Dunedin, said the man had scraped his vehicle along the side of a small bridge just before the crash.
He had stopped his vehicle to look at the damage caused, ''a bit rattled by this stage'', got back into the car, and put it into drive when he meant to put it in reverse.
He looked over his shoulder, expected to go backwards, hit the accelerator, and drove forwards into the window.
''It's very lucky no-one inside was injured.''
Snr Sgt Benn said the man would appear in the Queenstown District Court on Monday, charged with dangerous driving.
The man was assisted by the public until Queenstown police, St John and the Queenstown Volunteer Fire Brigade arrived.
Mr Grocott said the ANZ branch was closed yesterday afternoon while repairs were carried out, but would reopen this morning.
