Bankwest Executive Mastercard Credit Card – Rates and Fees

Manage employee expenses under one account and earn reward points on company expenses with a credit card designed for medium and large businesses.

The Bankwest Executive Mastercard offers many features that could help manage your business costs. With unlimited additional cardholders plus the ability to cap and monitor employee spending, this card offers a simple way to track all of your company expenses under one account. Plus, with the option to earn reward points on eligible purchases and up to 50 interest-free days, there are plenty of ways to get extra value from the card.

Product NameBankwest Corporate (Executive) Mastercard
Rewards ProgramBankwest Business Rewards
Balance Transfer Limit95% of available credit limit
Purchase rate (p.a.)17.99% p.a.
Annual fee$69 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 50 days on purchases
Cash advance rate (p.a.)17.99% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$5,000
Minimum Monthly Repayment2% of the balance or $20
Card TypeMastercard
Late Payment Fee$35
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
2.95% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$5,000
Annual Fee$69 p.a.
Minimum Repayment2% of the balance or $20
Late Payment Fee$35
Over Limit Fee$30
Cash Advance FeeGreater of 2% or $4.00
Overseas Cash Advance FeeGreater of 2% or $4.00
Overseas Emergency Replacement$0
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$0
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
2.95% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Number of Additional CardholdersUnlimited
BPAYYes
ChequeYes
Direct DebitYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes
Rewards ProgramBankwest Business Rewards
Rewards Points per $ (VISA/MC)1.5
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) CapUncapped
Points ExpiryNever

Bankwest Executive Mastercard review

The Bankwest Business Executive Mastercard is a useful tool for an incorporated company to track its day-to-day business expenses. You can request as many additional cardholders you need and apply different spending limits to each to keep your business expenses in control. If you opt into the rewards program, you can also earn reward points on purchases to redeem for gift cards, flights, cash back and more.

Benefits of the Bankwest Executive Mastercard Credit Card

  • Unlimited additional cards. There is no limit to the number of cards issued with the Bankwest Business Executive Mastercard. These can be additional executive cards or corporate cards. Each has its own design but access to the same account held by the company.
  • Company liability. Liability for the entire account is assigned to the account holder. This can be an individual sole trader or a partnership, company or trust. By assigning liability to the company as opposed to an individual, you make the company liable for the transactions of all its cardholders.
  • Centralised billing. Control over the account is maintained by central billing which allows for access to the account activity as a whole as well as for the individual cardholders. The data shown for each card is comprehensive, allowing a business to easily identify problems with spending
  • Rewards program. If you opt into the rewards program, you can earn unlimited points on eligible purchases. These points can either be accumulated and used by the company or the individual cardholder earning them. This card charges an additional annual reward fee of $69 if you choose to join. There are over 2,500 rewards you and your employees can choose from if you opt to become an active participant in the Bankwest Rewards Program. Redeem points earned for deals on flights, useful merchandise or vouchers from your favourite retailers.
  • Earn points for every dollar spent. Your corporate cardholders will earn 1 point for every dollar spent while executive cardholders earn 1.5 points per dollar. You choose whether you want the business to redeem these points or your individual cardholders.
  • Eligible for Android Pay. The Android Pay feature allows Bankwest cardholders to tap and go at the checkout with their Android device.

Bankwest Executive Mastercard features

There are other features that come with this card that you should consider:

  • Rewards program fee. This rewards program charges an annual reward fee of $69.
  • Annual fee. This card charges an annual fee of $69 (includes annual facility fee of $99), which is waived if your spend exceeds $25,000.
  • Interest rate. All of the purchases made by each card are subject to an interest rate of 17.99% p.a.
  • Cash advance. Each card in the account can have the ability to withdraw cash up to $1,500 daily. Those advances are subject to an interest rate of 17.99% p.a.
  • Balance transfers. Any credit card balances transferred to this account will be charged an interest rate of 17.99% p.a.
  • Interest-free days. Purchases made with any of the cards associated with this account will be held interest-free for up to 50 days. This only applies if the amount is paid in full by the due date, including any balance transfers and cash advances.
  • Liability. The business or company can be named liable for this account.
  • Credit limits. The minimum credit limit is $5,000. The account holder can administer spending caps on additional cards to keep employee spending in check. The maximum credit limit allowed is dependent upon approval.
  • Minimum monthly repayment. The minimum repayment requirement for each monthly statement will be the greater of 2% of the balance or $20. The payment will be applied to the main account. Individual cardholder payments are only accepted to add credit if they surpass their spending limit during a statement period.

How to apply for the Bankwest Executive Mastercard

Eligibility criteria

You may start your application online, so long as you meet certain eligibility criteria:

  • All individuals who are associated with the application for this credit card must be able to provide a verifiable form of identification. This is pursuant to the provisions laid out by the Anti-Money Laundering and Counter-Terrorism Financing Act of 2006.
  • All applicants must have the expressed power to act on behalf of the business in applying for this card.

Requires documents

Have the following documentation available to complete the application faster:

  • Profit and loss statements for the last three years along with a balance sheet.
  • The personal tax return information for the last three years from any individual associated with the business.
  • If your business banking is not done through Bankwest you will need to show bank statements for all accounts for the prior year.

While the Bankwest Executive Mastercard offers a number of features to benefit business owners, it isn't the only business card on the market. As such, you should make sure to compare your options before applying to make sure it's the right choice for you.

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