Bankwest Transaction account [General Discussion]

[Ultan Lankford]

Has anyone deposited a large amount to avail of their 12 points per $100 in the account per month.

120 per $1000
1,200 per $10,000
12,000 per $100,000

Worth it? Not sure.

 

[ProggerPete]

Has anyone deposited a large amount to avail of their 12 points per $100 in the account per month.

120 per $1000
1,200 per $10,000
12,000 per $100,000

Worth it? Not sure.

I haven't tested anything, but my suspicion is it will work like interest where it's calculated on the minimum monthly balance.

 

[thehound]

Has anyone deposited a large amount to avail of their 12 points per $100 in the account per month.

120 per $1000
1,200 per $10,000
12,000 per $100,000

Worth it? Not sure.

I haven't tested anything, but my suspicion is it will work like interest where it's calculated on the minimum monthly balance.

No that's not correct. The Qantas points accrue daily - "0.4 Qantas Points for every whole amount of $100 making up the daily balance at the end of each day".

As for whether it's worth it - IMHO it's definitely not worth it given the opportunity cost of not having that money in a mortgage offset account, or even for use in other investments.

 

[JohnK]

Has anyone deposited a large amount to avail of their 12 points per $100 in the account per month.

120 per $1000
1,200 per $10,000
12,000 per $100,000

Worth it? Not sure.

Are the points in lieu of interest? Would the points have any income tax implications?

 

[burmans]

Are the points in lieu of interest?

Yes

Would the points have any income tax implications?

You'd need your own taxation advice on that one but as a general rule points are not taxable unless your are earning heaps of them (I remember reading somewhere that if you are earning more than 120K a year the ATO "may" consider them taxable). In particular I would note details of interest are reported to the ATO, points aren't.

 

[JohnK]

Yes
You'd need your own taxation advice on that one but as a general rule points are not taxable unless your are earning heaps of them (I remember reading somewhere that if you are earning more than 120K a year the ATO "may" consider them taxable). In particular I would note details of interest are reported to the ATO, points aren't.

I'd be looking at ~360,000 points/year. Or I could earn ~$5,000 which is roughly the same value but the points would come in handy.

 

[thehound]

Are the points in lieu of interest? Would the points have any income tax implications?

The points are essentially in lieu of interest, but the T&Cs state that interest is still earned at the princely rate of 0.01% on the account balance.

 

[ProggerPete]

Went in to a branch to downgrade my account in the hopes of getting a new card. They asked why and I said the extra features had no value to me and I didn't want to have to deposit the extra cash to get it. So they reduced the deposit criteria on my Platinum account.

Great customer service but GRRR!

 

[bam71]

Just received my monthly statement. Been paying Telstra in 1c increments. It says Qantas Points Earned - 0.

Am waiting to see what happens today ( if they will hit the account). Anyone else had this??

 

[HTG2016]

Just received my monthly statement. Been paying Telstra in 1c increments. It says Qantas Points Earned - 0.

Am waiting to see what happens today ( if they will hit the account). Anyone else had this??

Did you received statement in AUG . Points only show on the first statement on AUG . Won't show any points earned on JUL statement . Points will be post either around 2pm today or tomorrow .

 

[bam71]

Thanks for the clarification. Will wait and see ............

 

[ramamba]

It should appear on June statement as i done Mar , Apr , May but it haven't . I will wait until the next few statement in July to see if it come up or maybe need to wait until first statement of AUG

Billt
have your 5k posted this month? i did mar-apr-may cycle as well, but never seen the 5k lot, only transaction points :-\

Anyone else in the same boat with 5k/10k promo?

 

[HTG2016]

Billt
have your 5k posted this month? i did mar-apr-may cycle as well, but never seen the 5k lot, only transaction points :-\

Anyone else in the same boat with 5k/10k promo?

Open account in Feb spent $500 in Mar , Apr , May , June and July . Only received transaction points today wouldnt want to call up and have they look at my account . Maybe those 5k/10k never come

 

[craiglm]

Anyone else having trouble with their Firefox iMacros today?
Been working for more than 1 year and today will not enter credit card expiry month.
All other data enters ok.
This is the error "Wrong CONTENT specifier 08, line: 8 (Error code: -925)"

Tried recording a new macro but same error.

Tried running on a different pc same error.

Cheers
Craig

 

[thehound]

Anyone else having trouble with their Firefox iMacros today?
Been working for more than 1 year and today will not enter credit card expiry month.
All other data enters ok.
This is the error "Wrong CONTENT specifier 08, line: 8 (Error code: -925)"

Tried recording a new macro but same error.

Tried running on a different pc same error.

Cheers
Craig

I'm getting exactly the same problem Craig. Normally I just play the loop 51 times, and know it's done the 50 transactions when I see the "unfortunately your payment cannot be processed" message. But today the macro itself is dying at the credit card expiry input. Anyone have a solution?

 

[burmans]

Anyone else having trouble with their Firefox iMacros today?
Been working for more than 1 year and today will not enter credit card expiry month.
All other data enters ok.
This is the error "Wrong CONTENT specifier 08, line: 8 (Error code: -925)"

Tried recording a new macro but same error.

Tried running on a different pc same error.

Cheers
Craig

Which company are you trying to pay a bill on, my payment worked fine today.

 

[craiglm]

Which company are you trying to pay a bill on, my payment worked fine today.

I'm trying to pay Telstra

 

[thehound]

Which company are you trying to pay a bill on, my payment worked fine today.

Telstra too. The macro fills in the form up until the credit card expiry and then fails; at which point I can fill in the rest of the details manually and the payment goes through successfully. So Telstra payments can still be made, but the macro seems to be having an issue now.

 

[HTG2016]

Anyone else having trouble with their Firefox iMacros today?
Been working for more than 1 year and today will not enter credit card expiry month.
All other data enters ok.
This is the error "Wrong CONTENT specifier 08, line: 8 (Error code: -925)"

Tried recording a new macro but same error.

Tried running on a different pc same error.

Cheers
Craig

Working fine with Telstra today with 50 transaction . iMacro on Firefox .

 

[nightelves]

Working fine for me also