The Easy Transaction Account provides you with a range of ways to easily manage your daily expenses and deposits. With the help of a debit MasterCard, you are granted access to over 10,000 ATMs to grab cash on the go and secure shopping privileges. Plus, with Bankwest Easy Alerts and 24 hour access through online banking, you can now bank on-the-go.
You have a access to a wide range of ATMs for free in Australia, no ATM fees at Bankwest, CBA, NAB, ANZ, Westpac, St.George Bank, Bank of Melbourne and BankSA.
What are the features of the Bankwest Easy Transaction Account?
When comparing the Easy Transaction Account to others offered by Australian banks, you are going to find that there are more features to consider than just the vast number of ATMs you have free use of.
$0 Monthly fees when you deposit at least $2,000 per month
So long as you are able to make a total monthly deposit of at least $2,000, you will not pay any monthly account keeping fees. If you do not meet this obligation in one month, you will be charged $6 to your account on the first business day of the next month.
Linked debit MasterCard
You will be issued either the debit MasterCard or, if you're eligible, a Platinum debit MasterCard which can be used for purchases and withdrawals.
Choose from the following colours: Blue, pink or black.
Updated to a Platinum MasterCard
You'll need to deposit at least $4,000 per month to maintain Platinum status. You'll get exclusive benefits by visiting Priceless Sydney and also a 24/7 Platinum concierge service, Worldwide Purchase Security Protection and Extended Warranty.
There are also travel assistance services and lifestyle services to be taken advantage of.
Worldwide MasterCard acceptance
The debit MasterCard works wherever MasterCard is accepted, but uses the funds in your account for purchases.
Comprehensive ATM network
Getting cash fast is easy and free when you use any of the following bank’s ATMs; Bankwest, NAB, ANZ, Westpac, St.George Bank, Bank of Melbourne, BankSA and Commonwealth Bank.
Taking the card overseas or shopping online
Any purchase made with your debit MasterCard that uses a currency other than AUD will attract a fee of 2.95% of the Australian dollar amount.
In addition, if you use an ATM overseas to withdraw funds, you are going to be charged an extra $5 per transaction (on top of the currency conversion fee), plus possible other charges imposed by that ATM network.
24/7 Online and phone access
You can access the account around the clock using phone banking, online banking, or a mobile app all for free.
Bankwest Easy Alerts
Bankwest Easy Alerts is a new feature on the Easy Transaction Account and helps you manage your everyday banking by providing updates on your personal transaction and savings accounts.
You can get all of the features of online banking using your iPad, iPhone, Windows Phone or Android mobile device. The app is available for download from the iTunes store, Google play or Windows Phone store and gives you the ability to check your balance, make payments and find the nearest ATM.
You are not required to meet any minimum monthly balance requirements, although you will need to deposit at least $2,000 a month to avoid fees.
- $0 monthly account fees when you deposit at least $2,000 each month
- Access a range of ATMs from major banks within Australia at no extra cost, including ANZ, Westpac, NAB, St.George, Commonwealth Bank, Bank of Melbourne and BankSA
- Linked debit MasterCard
- Can upgrade to Platinum
- $2,000 minimum monthly deposits required for fee exemption
How do I apply for the Bankwest Easy Transaction Account?
Applying for the Bankwest Easy Transaction Account is as easy as managing the account. Just click ‘Go to site’ to be redirected to a secure application site.
Eligibility to apply online
You should ensure beforehand that you are able to meet the eligibility requirements:
- Minimum age. An applicant must be 18 years old or older to be allowed an Easy Transaction Account to be opened in their name.
- Residency requirement. All applicants must be a permanent resident of Australia in order to be eligible for this account.
- Depository requirement. You are not required to meet a minimum deposit amount (but if you deposit a minimum of $2,000 each month you can avoid monthly account keeping fees).
Documentation to apply online
If you meet the requirements to apply for the Bankwest Easy Transaction Account have the following documentation ready in order to complete the application in full:
- Tax file number. You can avoid any withholding tax on the account by providing your tax file number (TFN) on the application.
- Identification. Acceptable identifying documents include a driver’s licence or your passport. If you are new to Bankwest you may need to visit a branch in order to complete this step.
What happens after I apply online?
After submitting your application you will receive a confirmation email from Bankwest with the next steps to follow in order to open your account. Once your identity has been verified your account details and debit MasterCard will be sent to in a welcome pack through the post.
What if I'm a non-resident or not eligible to apply online?
If you intend of moving to Australia, or currently don't meet any of the above requirements, please get in touch with Bankwest directly or visit your local branch.
I run a predominantly cash oriented small business, does the BW Zero account allow for several cash deposits in branch per month as part of their allowance?
Please note that the Bankwest Easy Transaction account is for personal customers only. There are no costs or limits for depositing in-branch.