Bankwest Transaction account [General Discussion]

[brown891]

Hey guys,

New to AFF. This post keeps popping up in my feed because of all the recent posts about accounts being closed etc. So I had a read of the start of the thread and now the end.

Had a question regarding the worth of someone like myself signing up to the account now with all the new T&C's etc. Would you recommend it? For example, at the start of this thread, most people appear to be looking to do the 1c transactions etc. But i was reading on BW's website about the account - and for that now it has to be actual purchases and not transfers between banks or BPAy payments etc??

Wouldn't mind some opinions from people who have been on the account and up to date with the latest info on it since it began and if it would be worth it.
I can deposit $2k a month no dramas - just more clarification on the 'eligible purchases' 5points/purchase thing???

Thanks
B891

 

[craiglm]

I'll wait till the end of the day to see how it goes.

My close date was the 25th and the account disappeared from the "Accounts" list late in the day.

 

[nightelves]

The part about eligible purchase is the loophole because it can constitute any amount. Not sure where you saw that the T&C has been updated. I had a glance and they're still promoting eligible purchase on their website. At this point in time Bankwest is cracking down on these multiple 1c 'eligible purchase' transaction. I would wait until the heat dies down first.

 

[brown891]

The part about eligible purchase is the loophole because it can constitute any amount. Not sure where you saw that the T&C has been updated. I had a glance and they're still promoting eligible purchase on their website. At this point in time Bankwest is cracking down on these multiple 1c 'eligible purchase' transaction. I would wait until the heat dies down first.

Yep no what I was referring to was transactions it appears people were talking about way back in this thread between their account and another bank account. So it wasn't actually a purchase, it was just a 1c transfer.

Also - is the $2k/month idea where you deposit $1k and then take it out, and then re-deposit that $1k to give a total of $2k deposits still valid?

 

[scubabe]

Yep no what I was referring to was transactions it appears people were talking about way back in this thread between their account and another bank account. So it wasn't actually a purchase, it was just a 1c transfer.

Noooooo? You're mistaken. Nobody has EVER said a 1c transfer from this account to another bank account was earning them points. Bank transfers and BPAY payments and ATM transactions etc were all always ineligible for points earn. The 1c thing was making a debit card transactions, they were valid transactions, they were basically the same as making a purchase at Coles for 1c at a time. Only these payments of course were online transactions not face to face transactions. But they were valid.

Also - is the $2k/month idea where you deposit $1k and then take it out, and then re-deposit that $1k to give a total of $2k deposits still valid?

Yep totally valid the $2k deposit can be 4 x $500 or 20 x $100 whatever you want

 

[nightelves]

Transaction purchase was payment 1c to bills whether it be Electricity, Gas, Water or Telephone. This is what constitute a purchase. In extreme cases some people were doing split payments of 1c at self service checkouts.

And yes the $1k in out and back in again counts as a $2k deposit.

 

[brown891]

Noooooo? You're mistaken. Nobody has EVER said a 1c transfer from this account to another bank account was earning them points. Bank transfers and BPAY payments and ATM transactions etc were all always ineligible for points earn. The 1c thing was making a debit card transactions, they were valid transactions, they were basically the same as making a purchase at Coles for 1c at a time. Only these payments of course were online transactions not face to face transactions. But they were valid.


Yep totally valid the $2k deposit can be 4 x $500 or 20 x $100 whatever you want

Ahh okay I must have misread their comments. I fully understand the 1c purchase idea, yeah I just thought I read that they were doing it as a transfer rather than a purchase, all good thanks for that. I'll look into this card closer to Christmas as it appears to be the time they run the bonus 10000 points for joining..

 

[NoName]

So come on people - has anyone bettered this amazing haul?! Cephalopod?

Im pretty sure Cephlapod will be well over the 1m mark for him & partner.

 

[hummel]

I think the main point most are curious about is, is this only happening to accounts that have at one stage or another had 2 cards operating on the one account. It would be great if you could make this distinction when posting about these letters.

FWIW I only ever had 1 card and only pushed through 50/day for maybe a month or so. Then backed off... then 2 weeks later I received a cheque with the amount in my account and the letter...

 

[Youfah Mizzum]

Thank you BW for the 909,621 QFF pts you kindly donated to me over the past nearly 2.5yrs. They have been put to good use!

Flippin' heck. Well done!

 

[Youfah Mizzum]

I wonder if our names, PANs etc associated with BankWest have been internally flagged with some kind of alert, message, warning or whatever in case we decide to open up an account with them again?

As an aside, BW are running a Mastercard promo which gives 50,000 points for $2,500 spend, $160 annual fee. Wonder if we'd be denied that after our wrist slap?

 

[nightelves]

At 50k points for $160 you're better off with Citibank 70k points for $149

 

[Youfah Mizzum]

At 50k points for $160 you're better off with Citibank 70k points for $149

Done that one.

 

[burmans]

I wonder if our names, PANs etc associated with BankWest have been internally flagged with some kind of alert, message, warning or whatever in case we decide to open up an account with them again?

Well under the Privacy Act one of the legislated Privacy Principles (APP 12) is the "right for individuals to access and correct their personal information". So maybe ask them. Would be interesting to see their response!

 

[Cephalopod]

Im pretty sure Cephlapod will be well over the 1m mark for him & partner.

Yeah, just over.

It's a pity as I had gotten my earn rate up to 75k a month... So far only my partners accounts have been axed. None of mine. Mine are coming though - I've no doubt about that.

We've bought heaps of random cough using them from flights (lots of interstate business class fights) to clothes to toys, a pram and a car seat. I never let the points balance build up too high as I didn't want to risk losing the accrued points.

We'll finish up with a balance of 150k + however long they leave mine for.

 

[cxthomps]

Just under 1m for me, managed to get up to 85,500 a month with all cards and family accounts. No accounts axed so far but its only a matter of time.

Also managed over $1k in gift cards from the rewards account, think I can manage another couple of hundred dollars out of the current points balance plus August. I will cash that in tomorrow when the points post.

C.

 

[burmans]

Impressed at the numbers!

 

[HTG2016]

It now 1 Sep morning and i still have access to my online bank with BW and still can see the account there balance show $2 while it suppose to be $0 ( done all the transfer few days ago )

 

[nightelves]

Yeah same.

 

[jetcam]

I got a statement this morning to 31/8. No points posted yet as expected but worryingly under Qantas Membership No it says "None Recorded". That does not look good for the August points transfer!