Bankwest Qantas Transaction Account

Key features

$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 Bankwest Platinum 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. You'll pay no international transaction fees and no overseas ATM fees with this debit card, however the international ATM operator may charge its own fee.

Free ATM withdrawals using the Bankwest ATM network Australia wide

You won't pay ATM fees at major bank ATMs nationwide.

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.

No foreign transaction fees

Bankwest will not charge you an international transaction fee on any transaction that takes place in a currency other than AUD. This includes when shopping online from overseas retailer.

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.

FAQ

• 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 3 Qantas Points per eligible purchase completed with the linked debit Mastercard. Note this is 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.

• 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.