Bankwest Rewards Transaction Account

[futaris]

Rewards Transaction Account

Australia's first rewards transaction account.

5 points per transaction, in Australia.
10 points per transaction, overseas.

Bankwest More Rewards for the redemptions.

Quickly looking through the redemptions, each point seems to be worth about 0.5c.

I don't have to point out the loophole here, as it's as obvious as the American Express one...

http://www.bankwestmorerewards.com....reRewards/BWA-81001_051012_HR_Web_Artwork.pdf

 

[kamchatsky]

It does have some limit though:
How do you earn points? It’s too simple, open your Rewards Transaction account and…

• have money in your account to earn reward points on balances - up to 31 points per month for every $100 in your account*
• make purchases at Australian based retailers with your Rewards Debit MasterCard® to earn 5 points for every eligible purchase
• shop overseas online or whilst abroad to earn 10 points when you use your Debit MasterCard for eligible transactions

 

[futaris]

It does have some limit though

My understanding is that is the limit on earning on balances, not transactions. They are mentioned differently in the T&Cs.

 

[oz_mark]

Not sure that getting 2c or so for making a purchase transaction is going to have people blasting through the purchase transactions!

 

[kamchatsky]

My understanding is that is the limit on earning on balances, not transactions. They are mentioned differently in the T&Cs.

True, but I still don't think AFFers would do whatever they can to milk it, unless it is 5000 points per 5 transactions ...

 

[LovemyCC]

No overseas ATM fees are a bonus. Great for small cash amounts.

 

[markis10]

No overseas ATM fees are a bonus. Great for small cash amounts.

Not really, they make it up with the FX margin and fee :


Overseas ATM Access Fee
There is no fee charged by Bankwest for any withdrawals using overseas ATMs. We will, however, charge a fee equal to 2.95% p.a. of the transaction amount for each transaction occurring outside Australia (whether in foreign currency or Australian dollars) posted to your account.