Bankwest Transaction account [General Discussion]

[AusTraveller]

Thanks for the update. I too received a second card in today's mail; nothing with it to say why. Was going to just shred the new card so now I guess I should try both cards before I shred one of them. Of course I could always give one of the cards & PIN to +1:shock:

JV

I can confirm that both cards should work. I have been using both of my existing cards (the first one plus it's replacement) alternately. I can probably even confirm the machines that they don't work on.

 

[FrankC]

I can confirm that both cards should work. I have been using both of my existing cards (the first one plus it's replacement) alternately. I can probably even confirm the machines that they don't work on.

Mind if you elaborate on which machine which card does not work?
Trying to save myself some embarrassment

 

[Joshua]

Taco seasoning?

Just no.

 

[severus]

Anyone receive the points (0.4pt/day every $100) yet just for parking some money in the account?

 

[burmans]

Anyone receive the points (0.4pt/day every $100) yet just for parking some money in the account?

Yes, many of us!

 

[severus]

Yes, many of us!

That's amazing! Sounds like it's perfect as everyday account since I leave money there anyway without gaining interest.

 

[burmans]

That's amazing! Sounds like it's perfect as everyday account since I leave money there anyway without gaining interest.

Yes, I think that's the best thing about this, I'm pretty good at moving money around to get the best interest but if you aren't this is a good account to at least get something back.

 

[AusTraveller]

Mind if you elaborate on which machine which card does not work?
Trying to save myself some embarrassment

I've noticed the "quest" branded machine doesn't like the chip. It works for paypass if the extra paypass unit is attached but not without. Just comes back as declined. Yes, very embarrassing

 

[severus]

Yes, I think that's the best thing about this, I'm pretty good at moving money around to get the best interest but if you aren't this is a good account to at least get something back.

I put everything in savings account but always leave some in transaction account just in case.

I want to get my head around the monthly deposit requirement. Can I technically put in $2K before the end of 1st month, move the money elsewhere & put in another $2K by the second month? The idea of keeping $6K for 3 months (& beyond if I keep it) interest free isn't appealing.

 

[deejo77]

Can I technically put in $2K before the end of 1st month, move the money elsewhere & put in another $2K by the second month? The idea of keeping $6K for 3 months (& beyond if I keep it) interest free isn't appealing.

Yes you can deposit $2K at the start of the month - take it out a day before end of statement then put it back in for the start of the next month. My money loves to recycle this way.

 

[severus]

Yes you can deposit $2K at the start of the month - take it out a day before end of statement then put it back in for the start of the next month. My money loves to recycle this way.

Thank you. Now I am 100% sold on this. Access to commbank atms is great too for when I close my comm account.

 

[Buzzard]

Just rinse and repeat

 

[Kangol]

Yes you can deposit $2K at the start of the month - take it out a day before end of statement then put it back in for the start of the next month. My money loves to recycle this way.

How long do you have to have it sitting in the account though? If you had it for say 2 days at some stage in the month, would that still be OK?

 

[burmans]

How long do you have to have it sitting in the account though? If you had it for say 2 days at some stage in the month, would that still be OK?

Daily is fine, just not as many points.

 

[deejo77]

^^^^^ the longer you leave it the more points you get

Did some shopping on the card today and scored some points

 

[tim374]

When I do the monthly $2,000 recycle at most it is in the account for a few hours. It's back in Ubank earning interest the same day it left.

I'd consider swapping to this account but I already have a Zero account and like having fee free access to any big 4 bank ATM.

 

[legroom]

When I do the monthly $2,000 recycle at most it is in the account for a few hours. It's back in Ubank earning interest the same day it left.

I'd consider swapping to this account but I already have a Zero account and like having fee free access to any big 4 bank ATM.

'Few hours'

How's that possible ?

Transfers from CBA takes overnight to appear.

I assume you transfer from another BW account ?

 

[Kangol]

Daily is fine, just not as many points.

Thanks, should have mentioned I was mainly interested in the 10,000 bonus points.

 

[tim374]

No. Transfer from Ubank in the morning, and it's there at lunchtime. Transfer back and it hits the account about 10pm. No loss of interest. Works this way for Bankwest, ING, Westpac and ANZ.

 

[burmans]

Thanks, should have mentioned I was mainly interested in the 10,000 bonus points.

Indeed (as most of us I suspect), just move the money in then move it on soon after.