Bankwest Qantas Transaction Account
- Fee Free Deposit
- Account keeping fee
- ATM withdrawal fee
- Overseas ATM withdrawal fee
If you’re collecting Qantas points this account could help you do just that. It acts like a standard everyday transaction account, but you’ll also earn Qantas points each time you make a purchase, and also when you withdraw cash from an overseas ATM. Just make sure you’re not overspending for the sake of collecting points.
You’ll also earn 0.3 points for each $100 you have in your account per day (credited once a month and capped at balances of $50,000). Plus, you’ll get free membership to the Qantas Frequent Flyer program, which is usually $89 to join.
However, there is a $6 monthly account fee for this account unless you can deposit $2,000 a month. So if you can’t meet the monthly deposit condition, the money you pay in account fees could cancel out the benefit you’re getting in Qantas points.
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
You must deposit at least $2,000 into your account each month for no monthly account fees
|Product Name||Bankwest Qantas Transaction Account|
|Monthly account fee||$6|
|Own network ATM fee||$0|
|International transaction fee||0%|
|Monthly deposit required to waive account fee||$2,000|
|Contactless Payments||Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay|
|Joint account availability||Yes|
|Minimum opening deposit||N/A|
Earning Qantas Points
3 Qantas points for eligible purchases
Every time you use your Debit Mastercard to make an eligible purchase, 3 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.
0.3 Qantas points per day per $100 in your bank account
For every $100 you have in your account, you will earn 0.3 Qantas points per day. These points are credited at the end of each month. This is capped at $50,000 (you won't earn points on balances above this).
$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 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.
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.
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.
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.
How to apply
If after comparing this everyday account you find it has all the features you want, you can 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.
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 submit 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 Bankwest Platinum 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 its branches.
You are about to post a question on finder.com.au:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com.au is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
June 09, 2019
What payments are defined as business related expenses?
June 10, 2019
Thanks for reaching out to Finder.
As per Bankwest’s definition of terms, business related expenses means those purchases that are not made for personal, domestic or household purposes.
I hope this helps.
June 05, 2019
Am I correct in assuming that proving I deposit at least $4000 per month into my account that I am eligible for a platinum card with no monthly fee regardless of what I use the card for (i.e. non eligible purchases)?
June 06, 2019
Thanks for your inquiry!
Yes, that is correct. To be able to maintain the Platinum status, you need to deposit at least $4,000 per month. You’ll get a 24/7 Platinum concierge service as well as Worldwide Purchase Security Protection and Extended Warranty.
As for the NO MONTHLY FEE – you must be able to make monthly deposits totalling $2,000. 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.
Also, take note that eligible purchases are charged to the card excluding 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 of the card on their website.
Hope this helps!
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January 07, 2019
What is business related transactions mean?
John Basanes Finder
January 08, 2019
Thank you for reaching out to finder.
Business Related Expenses means those purchases that are not made for personal, domestic or household purposes. Hope this helps!
June 20, 2017
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
June 20, 2017
Qantas Points are accrued on all eligible purchases made using your Card. Qantas Points are not accrued on:
• 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.
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February 26, 2017
What is your commission and fees for currency exchange when the card is used overseas? Thank you
Anndy Lou Finder
February 26, 2017
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.
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