Bankwest Qantas Transaction Account

Last updated: Dec 31, 2020

New or existing Qantas frequent flyer members can add points to their Qantas account everyday of the year.

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.

$2,000

Fee Free Deposit

Account keeping fee

ATM withdrawal fee

Overseas ATM withdrawal fee

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Details

Product Name	Bankwest Qantas Transaction Account
Monthly account fee	$6
Card access	Mastercard
ATM Withdrawal Fee	$0
International transaction fee	2.95%
Monthly deposit required to waive account fee	$2,000
Contactless payments	Google Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay

Minimum Age	18
Joint account availability	Yes
Minimum opening deposit	N/A

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

Expert review

Review by

Alison Banney

alison.banney@finder.com

Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

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 at the end of each month. 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.

Key features

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 month per $100 in your bank account

For every $100 you have in your account, you will earn 0.3 Qantas points for that month.

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.

How to apply

If after comparing this everyday account you find it has all the features you want, you can apply online.

Eligibility

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 needed

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 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.

FAQ

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.

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18 Comments

Jan
June 9, 2019

What payments are defined as business related expenses?

finder Customer Care

Charisse
June 10, 2019

Hi Jan,

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.

Cheers,
Charisse

peter
June 5, 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)?

Nikki
June 6, 2019

Hi Peter,

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!

Best,
Nikki

Fred
January 7, 2019

What is business related transactions mean?

finder Customer Care

John
January 8, 2019

Hi Fred,

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!

Cheers,
Reggie

Jesse
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

Jonathan
June 20, 2017

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

Ion
February 26, 2017

Hello,
What is your commission and fees for currency exchange when the card is used overseas? Thank you

finder Customer Care

Dee
February 27, 2017

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

Julian
October 29, 2016

Hi! What is considered as an eligible purchase? Thanks.

finder Customer Care

Jason
October 29, 2016

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

Ross
October 20, 2016

I have a query re eligible purchases ie if I pay my rates etc online does that accrue points?

finder Customer Care

Clarizza
October 21, 2016

Hi Ross

Thanks for your question.

Do you mean interest rate charges? If so, this does not allow you to accrue points.

Regards
Clarizza

Dan
October 23, 2015

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

finder Customer Care

Shirley
October 23, 2015

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

Dave
September 8, 2016

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?

finder Customer Care

May
September 8, 2016

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

Bankwest Qantas Transaction Account

New or existing Qantas frequent flyer members can add points to their Qantas account everyday of the year.

Details

Expert review

Alison Banney

Expert review

Key features

Earning Qantas Points

3 Qantas points for eligible purchases

5 Qantas points for overseas ATM withdrawals

0.3 Qantas points per month per $100 in your bank account

What are some of the things I can redeem my Qantas Points for?

Free Qantas membership saving you up to $89.50

$0 Monthly account fee if you deposit $2,000 that month

Linked Debit Mastercard

Upgrade to a Platinum Debit Mastercard

Free ATM withdrawals using the Bankwest ATM network Australia wide

Using your debit card overseas to withdraw money

2.95% Foreign transaction fee

In-branch transactions

24/7 Access to your accounts

Earn up to 0.01% interest on your everyday balance

Joint accounts

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

FAQ

Can periodic transfers earn points to other banks?

What do they mean by eligible purchases?

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.

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?

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?

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?

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?

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?

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