Bankwest Transaction account [General Discussion]

[stan101]

What sort of things are you buying to make micro payments. Can you please advise how this works.

 

[nickomac]

card arrived today, applied on Monday 18th - not too shabby.

 

[Toad]

What sort of things are you buying to make micro payments. Can you please advise how this works.

I’m going to make 10 transactions at woollies by buying 10 $1 chocolates as the T & Cs says you have to make 10 transactions but it does not say how much the transaction must cost. Well not that I could see.

 

[nickomac]

I’m going to make 10 transactions at woollies by buying 10 $1 chocolates as the T & Cs says you have to make 10 transactions but it does not say how much the transaction must cost. Well not that I could see.

Min transaction amount is buried in the terms - but it's $2, so make sure you buy a couple each time

Within 2 full calendar months from account opening, you must complete at least 10 Eligible Transactions. Each transaction must be $2.00 or greater. E.g. if you open an account on 18 June 2018, you must perform 10 Eligible Transactions (with each purchase being at least $2.00) by the 17th August 2018.

Page 2, section 4.3
https://www.bankwest.com.au/content/dam/bankwest/documents/legal-library/PDS_20120824-143838.pdf

 

[GSP]

Always good to get things in writing just in case something goes wrong. I have a Bankwest On this basis I'm in for this promotion and will be miking it for all I can get. 50 micro payments a day!

Hi Dr Ralph,

I'm also curious how you could efficiently execute this.

TIA

 

[Dr Ralph]

Hi Dr Ralph,

I'm also curious how you could efficiently execute this.

TIA

I don't know if it's 'efficient' but I'll be paying bills online, like Telstra or electricity, 1 cent or the minimum amount possible each time.

 

[Dr Ralph]

but it does not say how much the transaction must cost.

This is not correct.

Interesting just reading the T & Cs 'To be eligible for the bonus points you must make 10 transactions within the first 2 months of account opening on your new Bankwest Qantas Transaction Account'. Sounds like 10 x $1 dollar transactions will make the cut. Cant find anything about it having to be $2 transactions

Not sure which set of terms you were reading. But from these terms if seems very clear that it has to be $2:

'4.3 Bonus Points promotion running 18 June 2018 to 31 August 2018 The 10,000 bonus Qantas Points Promotion is a stand-alone promotion and is only available to new Bankwest transaction account customers who open a Bankwest Qantas Transaction Account on or before 31 August 2018 and meet all of the following criteria: Within 2 full calendar months from account opening, you must complete at least 10 Eligible Transactions. Each transaction must be $2.00 or greater. E.g. if you open an account on 18 June 2018, you must perform 10 Eligible Transactions (with each purchase being at least $2.00) by the 17th August 2018.'

https://www.bankwest.com.au/content/dam/bankwest/documents/legal-library/PDS_20120824-143838.pdf

I'd encourage you to read all of the terms provided.

 

[Kangol]

Pay bills online, like Telstra or electricity 1 cent or the minimum amount possible each time.

See 2 posts above.

You could split a GC payment into $2 increments.

Gone are the days of getting six figures' worth of points annually for free.

 

[Dr Ralph]

Gone are the days of getting six figures' worth of points annually for free.

I don't know that I suggested this amount of points was ever possible.

I think that 20,000 QFF points is much more like the figure I'll be aiming for.

 

[GSP]

I see, still would take a little time but I guess you could set up a favorite payment and re-execute and OK.

I've read further up thread and seen caution surrounding this where some people got punted (although perhaps the 50 per day limit stops this). You don't think it carries a reasonable degree of risk in being punted? On that, It was quoted on OzBargain about it was 50 trans per day which you run with - I don't see that anywhere in the T&C's, also the bit about it being monitored, only talk about behaving in a fraudulent manner which this may not appear to be but BW may have a different interpretation.

 

[Toad]

Min transaction amount is buried in the terms - but it's $2, so make sure you buy a couple each time


Page 2, section 4.3
https://www.bankwest.com.au/content/dam/bankwest/documents/legal-library/PDS_20120824-143838.pdf

Yes I thought it odd what was on their website info about the transactions. I will do as you have pointed out and buy 10 separate $2 chocolates as soon as I get my card.

 

[GSP]

Interesting just reading the T & Cs 'To be eligible for the bonus points you must make 10 transactions within the first 2 months of account opening on your new Bankwest Qantas Transaction Account'. Sounds like 10 x $1 dollar transactions will make the cut. Cant find anything about it having to be $2 transactions

Section 4.3:
Within 2 full calendar months from account opening, you must complete at least 10 Eligible Transactions. Each transaction must be $2.00 or greater. E.g. if you open an account on 18 June 2018, you must perform 10 Eligible Transactions (with each purchase being at least $2.00) by the 17th August 2018.

 

[NoName]

I see, still would take a little time but I guess you could set up a favorite payment and re-execute and OK.

I've read further up thread and seen caution surrounding this where some people got punted (although perhaps the 50 per day limit stops this). You don't think it carries a reasonable degree of risk in being punted? On that, It was quoted on OzBargain about it was 50 trans per day which you run with - I don't see that anywhere in the T&C's, also the bit about it being monitored, only talk about behaving in a fraudulent manner which this may not appear to be but BW may have a different interpretation.

Read the thread from the start. It was very possible to rack up thousands upon thousands of points using a macro, many did. It took more than 2 years before BW closed accounts. Doubt it will take that long this time around but I’m very interested in hearing how @Dr Ralph goes with it.

 

[GSP]

Read the thread from the start. It was very possible to rack up thousands upon thousands of points using a macro, many did. It took more than 2 years before BW closed accounts. Doubt it will take that long this time around but I’m very interested in hearing how @Dr Ralph goes with it.

I started at page 165 - I don't have a spare weekend to go through the whole lot. I saw it did touch on a Macro, but that is just a more efficient means of multiple manual transactions.

 

[wingtip626]

Signed up for an account this evening. Easy way to get 10,000 points and maybe then some more....

 

[Deeks]

I signed up for this as well. It was handy having an online account already for the kids accounts so was very easy to get approved. Now just gotta wait for the card to arrive. Hope it comes tomorrow so I can use it on the weekend.

 

[burmans]

I see, still would take a little time but I guess you could set up a favorite payment and re-execute and OK.

I've read further up thread and seen caution surrounding this where some people got punted (although perhaps the 50 per day limit stops this). You don't think it carries a reasonable degree of risk in being punted? On that, It was quoted on OzBargain about it was 50 trans per day which you run with - I don't see that anywhere in the T&C's, also the bit about it being monitored, only talk about behaving in a fraudulent manner which this may not appear to be but BW may have a different interpretation.

Personally would wait for the 10K points before I tried the lots of payment thing but if you've got the 10K points what do you have to lose, its not as if, aside from these point, this is an account you really wanted?. If it was you would have already had one!

 

[burmans]

I saw it did touch on a Macro, but that is just a more efficient means of multiple manual transactions.

It isn't manual if you automate it!

 

[GSP]

Personally would wait for the 10K points before I tried the lots of payment thing but if you've got the 10K points what do you have to lose, its not as if, aside from these point, this is an account you really wanted?. If it was you would have already had one!

Good point, I think I'll do that before working out how to "automate" payments. To the last point, it may actually be a useful card for me given CBA Amex move. I have a Wealth package which has recently been cleared of debt and once my anniversary runs out in Nov and a new fee is applied (at the same time as ditching the CBA Amex) I think I'll close it and will need another savings account equivalent.

As an aside, I did a "chat" with the Bankwest people and asked them about "small transactions" - they were unaware of 50 trans max per day and did not advise that small transactions would be monitored (although I'm guessing he may be not aware of what the bank does or does not do). His reply was below:

No, there is no where in the T&C's where it prevents you from making numerous payments for a bill or anything along those lines, you just need to make sure that you use the cad number to pay the bill, not from your online banking, via pay anybody or BPAY .If you wanted to make small payments on the one bill, with your card, that is an option.

 

[burmans]

No, there is no where in the T&C's where it prevents you from making numerous payments for a bill or anything along those lines, you just need to make sure that you use the cad number to pay the bill, not from your online banking, via pay anybody or BPAY .If you wanted to make small payments on the one bill, with your card, that is an option.

This is correct, there is nothing in the T&C's stopping you but equally they do have the right (and have exercised that right) to cancel accounts without giving a reason. Like you I think that if they didn't want people to make multiple small payments they would say that in the T&C's but for reasons I am not privy to they have not taken that approach, rather just cancel people accounts.