Product details
Earn Qantas Points for the money sitting in your account and for the purchases you make on the account – you earn Qantas points on practically everything with the Bankwest Qantas transaction account. Don't worry if you're not a Qantas frequent flyer member – if you sign up through Bankwest, it's free.
You can earn Qantas point for free – just deposit at least $2,000 in the account per month and the monthly fee will be $0.
- Product Name
- Bankwest Qantas Transaction Account
- Monthly Account Fee
- $6
- Debit Card Access
- Mastercard
- ATM Withdrawal Fee
- $0
- Interest Rate p.a.
- 0.01%
- Details
- $0 account keeping fees when you deposit at least $2,000 into your account each month. Otherwise, a $6 monthly fee applies. Unlimited Free withdrawals at Bankwest and CommBank ATMs in Australia.
- Joint Application
- Yes
- Fee Free Deposit p.m.
- $2,000
- Overseas ATM Withdrawal Fee
- $0
- Overseas Eftpos Fee
- 2.95%
- Phone Banking
- Yes
- Fees
- $6
- Internet Banking
- Yes
What are the features of the Bankwest Qantas Transaction Account?
This is an account to consider if you travel often, but there are also other features to take into consideration.
5 Qantas points for eligible purchases
Every time you use your Debit Mastercard to make an eligible purchase, 5 Qantas points are added to your Qantas Frequent Flyer account.
Ineligible purchases include (but are not limited to): cheques, BPAY payments, cash-out transactions at merchants, interest charges, bank fees and charges, foreign exchange purchases, government charges, etc.
5 Qantas points for overseas ATM withdrawals
Withdrawals made from overseas ATMs will earn you 5 Qantas points. Note that foreign transactions may apply.
12 Qantas points per month per $100 in your bank account
For every $100 you have in your account, you will earn 12 Qantas points for that month. For example, if you have a balance of $600 at the end of the month, you'll receive 72 Qantas points.
What are some of the things I can redeem my Qantas Points for?
- One way, return or multi destination flight rewards (you can also choose the Qantas points plus pay) option
- Upgrading your flight reward seat to a premium cabin
- Purchase a renew a Qantas Club membership
Free Qantas membership saving you up to $89.50
If you are not already participating in the Qantas Frequent Flyer program, Bankwest will provide you with a membership for free. If you already have a membership account, you can link it to your account during the application process.
$0 Monthly account fee if you deposit $2,000 that month
If you are able to make monthly deposits totalling $2,000, there is no monthly fee. If that obligation is not met by the last business day of the month, a $6 fee will be charged to the account on the first business day of the following month.
Linked Debit Mastercard
For easy access to your money, the account comes with a Debit Mastercard that can be used wherever Mastercard is accepted. The purchase price is drawn straight from your account, rather than you having to pay interest charges on a credit card purchase.
Upgrade to a Platinum Debit Mastercard
Deposit at least $4,000 per month to maintain your Platinum status. You'll get a 24/7 Platinum concierge service as well as Worldwide Purchase Security Protection and Extended Warranty. To find out more about the benefits, click on "Go to Site".
Free ATM withdrawals using the Bankwest ATM network Australia wide
You get free access to all Bankwest and CommBank ATMs Australia wide.
Using your debit card overseas to withdraw money
Bankwest will not charge you an overseas ATM withdrawal fee, but you may be charged by the ATM operator.
2.95% Foreign transaction fee
Bankwest will charge you 2.95% of the transaction amount for any transaction that takes place in a currency other than AUD. You may come across this when online shopping or shopping overseas.
In-branch transactions
Electronic, cheque and withdrawals made inside of a Bankwest branch are free of charge.
24/7 Access to your accounts
You have complete access to your money around the clock using online, mobile and phone banking.
Earn up to 0.01% interest on your everyday balance
You are paid interest monthly on the first business day of each month at a rate of 0.01%. of the calculated daily balance. You can also link this account with a Bankwest savings account to earn more interest.
Joint accounts
You may not hold more than one of these accounts at the same time. For accounts opening with you and your partner, the Qantas Points can be split equally between account owners.
Pros
- Earn Qantas Points on eligible purchases and your daily account balance
- No monthly account keeping fee when you deposit at least $2,000 into your account each month
- Pay no overseas ATM withdrawal fees charged by Bankwest
- Access to CommBank and Bankwest ATM networks
- Free Qantas frequent flyer membership
- Optional Platinum debit MasterCard
- 24/7 Access to your funds
Cons
- You must deposit at least $2,000 into your account each month for no monthly account fees
How do I apply for the Bankwest Qantas Transaction Account?
If after comparing this everyday account you find it has all the features you want, you can apply online.
Eligibility to apply online
Make a quick note of the following eligibility requirements first to ensure that your application will be accepted:
- Your age. Qantas Transaction account holders must be at least 18 years of age.
- Your residency. You must have a valid Australian residential address and be residing in Australia at the time of application.
- Your accounts. If you already have a Bankwest Qantas transaction account, even as a joint account, you may not apply for another one.
Documentation to apply online
Once you are ready to continue to the application, gather the following documentation to make filling it out easier:
- Your identification documents. You will be required to provide proof of your identity using a photograph id such as a driver’s licence or passport.
- Your account information. If you have existing accounts with Bankwest you may need to disclose those account numbers.
- Your Qantas account information. You must be a member of the Qantas Frequent Flyer program to open this transaction account. If you are not already, Bankwest has made arrangements for you to become a member for free.
What happens after I've submitted my application?
Completing the application online should take approximately five minutes, and once submitted you will receive an email from Bankwest confirming receipt. If all the necessary information is there, the account will be opened almost immediately and a debit Mastercard should reach you by mail within seven to ten business days.
If you are not already a Bankwest customer, you might be asked to complete an identity check online, or at one of their branches.
I have seen this account recommended as a good debit card for travelling. I am travelling for a year next year and need a card that has minimal fees for ATMs in overseas locations. I cannot seem to find information on this website as to whether this account charges overseas ATM fees or conversion fees. Would you be able to let me know if it does?
Can periodic transfers earn points to other banks?
Payments from the account made without your card (e.g. payments to another bank account) are not eligible for points.
What do they mean by eligible purchases?
Eligible purchases exclude: cheques, BPAY, cash out transactions, interest charges, bank fees and charges, foreign exchange, government charges, business expenses, etc. For a full list, please refer to the Product Disclosure Statement available.
Is it correct that there is no Internet Banking with this account? I was sold on moving to Bank West until I saw this. Please confirm.
This account gives you 24/7 access to your funds through online, mobile and phone banking.
If I spend $1,000 using this card at a grocery store does that mean I earn 5000 points? and if so are the amount of points earned capped?
You earn 5 Qantas Points per eligible purchase completed with the linked debit Mastercard (at the time of writing), please note its not per dollar spent.
If I open an account they wish to add my partner later: Is that possible? What information would I need to provide? And how much does the extra card cost?
You can add your partner to your account later but keep in mind they wouldn’t be classified as a joint account holder, and therefore wouldn’t be able to close the account. You would be able to get them an extra debit card, which doesn’t come with an extra charge, and you’d need them to go into a Bankwest branch and supply their driver’s licence for identification if they’re not already a Bankwest member.
For the $2,000 deposit every month, if I withdraw the money out after it’s been deposited, would the account fee of $6 be charged?
No the fee won’t be charged if you withdraw the money. The fee is waived as long as you deposit at least $2,000 per month.
In regards to the 5 Qantas points per eligible transaction is there a limit on the value of the transaction? Could you do 100 $1 transactions and receive 500 points?
There’s no limit on the value of the transactions. You could do 100 $1 transactions and receive 500 points. However, there are some transactions that are excluded (like foreign exchange, etc.). Please check the PDS for more details.
Hello, I would like to open a Qantas transaction account for my husband and I, we would both like our own cards but can we have it so all the points will accumulate onto the one frequent flyer account?
Unfortunately you can only have one name on a Qantas frequent flyer membership; you could both sign up for an account and get a membership each, and then use the family transfer. However, this would act as a single account rather than a joint account.
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If I use my card to pay standard bills like rent, power and general purchases like clothes or presents, do I accure points? Does that change if it’s a joint account? Thanks, Jesse
Hi Jesse!
Qantas Points are accrued on all eligible purchases made using your Card. Qantas Points are not accrued on:
• cheques;
• BPAY® payments;
• cash-out transactions at any merchant;
• payments from the Account made without your Card (eg payments to another bank account using the “pay anyone” function);
• interest charges;
• bank fees and charges;
• transactions we decide are disputed due to being fraudulent or which involve an abuse of your Account or any Card;
• foreign exchange purchases;
• a withdrawal of cash at an ATM which is not processed by MasterCard® as a ‘cross border’ transaction;
• travelers’ cheques;
• all purchases for gaming or gambling transactions including gambling chip purchases and online gambling purchases;
• Government charges (other than GST payable in connection with the purchase of goods or services on which you accrue Points);
• Business Related Expenses; and
• any other transactions which from time to time may be excluded by us.
Hope this helps.
Cheers,
Jonathan
Hello,
What is your commission and fees for currency exchange when the card is used overseas? Thank you
Hi Ion,
Thanks for your question.
Please note that we are finder.com.au, a financial comparison and information website that helps consumers make better decisions. We are not Bankwest.
Nevertheless, when you use your card overseas to withdraw money, Bankwest will not charge you an overseas ATM withdrawal fee, but third party ATM operators in that country may.
When you use your card to make purchases in other currencies other than AUD, a foreign transaction fee of 2.95% applies.
Cheers,
Anndy
Hi! What is considered as an eligible purchase? Thanks.
Hi Julian.
Thank you for your inquiry.
Eligible purchases are purchases made using your Bankwest Qantas card excluding, but not limited to, cheques, BPAY payments, cash-out transactions at merchants, interest charges, bank fees and charges, foreign exchange purchases, government charges, gaming or gambling transaction purchases, business related expenses, etc.
You can contact Bankwest Customer Help Centre on 13 17 19 for more information.
Cheers,
Jason
I have a query re eligible purchases ie if I pay my rates etc online does that accrue points?
Hi Ross
Thanks for your question.
Do you mean interest rate charges? If so, this does not allow you to accrue points.
Regards
Clarizza
Hi there,
Can you tell me if there is a limit to the number of points BW will pay on the balance. ie – If I deposited $1m, would I be entitles to 120,000 FFP each month in line with the advertised 12 points per $100 of AC balance?
Thanks,
Dan
Hi Dan,
Thanks for your question.
There’s no limit to the number of points BW will pay on the balance.
Please note Qantas Points accrue daily and whole Qantas Points are credited on the first business day of the next month. You receive 0.4 Qantas Points for every whole amount of $100 making up the daily balance at the end of each day.
Cheers,
Shirley
Hi,
Can I Please get clarity for Qantas points. If I have $50,000 in my account which will not decrease. Will I get 6000 point every month on the first business day of the next month?
Hi Dave,
Thanks for your question.
Yes, you are correct, you will receive 6000 Qantas points every month if will you maintain a balance of $50,000 in your Bankwest Qantas Transaction Account monthly. Qantas Points accumulate daily and the entire Qantas Points are credited on the first business day of the next month.
Cheers,
May