Wally Bannister was a lecherous lothario who started going out with Blanche Hunt when he met her at a tea dance. Blanche was on the rebound from undertaker Archie Shuttleworth and told daughter Deirdre that Wally knocked Archie "into a cocked hat". She brought him back to 1 Coronation Street where he met Ken and Deirdre and self-assuredly regaled them with stories of his wealth, inviting them to come to his large house in Altrincham and use his indoor swimming pool. Blanche was the first one to take up his invitation when she went to his large property for his birthday party and returned, glowing with stories of his riches. A few days later, Blanche was the hostess when Wally came to tea at the Barlows' and met Tracy for the first time.
Shortly thereafter, Wally made his attraction towards Tracy very clear. At first, she was repulsed but when Blanche was suddenly called away to look after her sick sister and Ken and Deirdre told her of his multi-millionaire status from his haulage business, she started to see him in a new light and the next time he called, she responded to his overtures with far greater enthusiasm. The two started to "date" in secret, Tracy enjoying the champagne lifestyle that Wally's riches brought her but Deirdre had her suspicions that her daughter was seeing an older man with money, but suspecting that it was Corner Shop owner Dev Alahan.
Wally took Tracy to his house where she changed into a revealing swimming costume and made use of the pool. He persuaded her to stay the night, for "companionship", which she duly did. The next day, Deirdre rang her mobile to enquire of her daughter's whereabouts and was enraged to hear Wally's voice and the sound of him diving into the pool in the background. She and Archie went round to the house where a struggle broke out between mother and daughter which ended up with them both falling into the pool. In the middle of this altercation, Joan Bannister entered the room, having been away for several days on a break and coming home early because the weather was so bad. She told the assembled group that she was the housekeeper for Mr and Mrs Lockwood, the house's true owners who were away in Zambia, and that husband Wally was the gardener and not a multi-millionaire haulage firm owner. A livid Tracy swiftly and painfully kneed him while Deirdre threatened that he was dead if he ever approached any of her family again. Joan told her not to worry, telling her that he was a dead man anyway now that she knew what he was up to.
Several months later, Tracy was proven to be pregnant and Wally was suspected for being one candidate as the unborn child's father. The main candidate, Roy Cropper, visited Wally where he was busy with his gardening duties. Wally informed him that he had slept with Tracy but as he had contracted mumps as a fifteen-year old, his much put-upon wife hadn't been blessed with the patter of tiny feet.
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