Bankwest Transaction account [General Discussion]

[Dr Ralph]

Does this trigger a credit enquiry on my credit file?

Nope. This is a debit card.

 

[avinashm]

1. I have read and accept the Privacy Statement and Consent, which includes consent to Bankwest electronically verifying my identitywith a credit reporting body so that they can provide an assessment based on matching the information I provide with any credit files they hold.

^ What does this mean then?

 

[Dr Ralph]

1. I have read and accept the Privacy Statement and Consent, which includes consent to Bankwest electronically verifying my identitywith a credit reporting body so that they can provide an assessment based on matching the information I provide with any credit files they hold.

^ What does this mean then?

These are simply genetic terms. They relate to the need to verify your identity only. There are a number of ways this can be done, including electronically. But you could also go to an Australia Post outlet and do this in person.

I say again, there will be no credit enquiry for this card. This is NOT a credit card. Look at the name of the card. It clearly says 'transaction account'.

 

[burmans]

These are simply genetic terms. They relate to the need to verify your identity only. There are a number of ways this can be done, including electronically. But you could also go to an Australia Post outlet and do this in person.

I say again, there will be no credit enquiry for this card. This is NOT a credit card. Look at the name of the card. It clearly says 'transaction account'.

You are only legally allowed to perform a credit enquiry is you are providing credit (seems obvious really), i.e. they are lending you money. This card does not allow a debit balance, transactions will be denied if you try. So, listen to Dr Ralph on this one.

 

[awaywithfairies]

A bit off-topic but Bankwest have announced they will be closing 29 branches in the eastern states over the next couple of months.
Bankwest closing 29 branches across eastern Australia

May be relevant for people in eastern Australia who are still in the process of opening new Qantas accounts/verifying identities.

 

[Dr Ralph]

A bit off-topic but Bankwest have announced they will be closing 29 branches in the eastern states over the next couple of months.
Bankwest closing 29 branches across eastern Australia

May be relevant for people in eastern Australia who are still in the process of opening new Qantas accounts/verifying identities.

Shouldn't change anything. Can verify online or at a post office. I've never been into a store and have had multiple credit cards and transaction accounts.

 

[cvmceg]

Seemed perfectly fine using medicare and drivers licence online for me.

 

[avinashm]

I don't see any mention of the 50 txns / day limit in the T&C's.

 

[Dr Ralph]

I don't see any mention of the 50 txns / day limit in the T&C's.

Correct.

 

[N860CR]

Your application...

Hi,

Your reference number for this application is xx_xx_X.

Unfortunately we can't open this account for you online.

If you wish to discuss, please call us on 13 17 19 between 8am - 8pm local time, 7 days a week.



Oops. Guess they really don't want us back!

 

[Claudia]

I don't see any mention of the 50 txns / day limit in the T&C's.

I stated the same thing as you a couple of weeks ago on this forum, and the general consensus was that more than 50 transactions will raise a red flag. I’m not keen to test this theory, and have been limiting transactions to 50.

 

[Dr Ralph]

I’m not keen to test this theory, and have been limiting transactions to 50.

Smart.

Employing the same strategy.

 

[Claudia]

Smart.

Employing the same strategy.

Just got “payment declined” message as I employed the $1 micro payments method. 50 transactions went through yesterday, and 7 today, before getting the message. Possibly because yesterday’s 50 still not showing as having been processed? Anybody else have a similar issue? Maybe need to wait for the transactions to be processed before attempting another 50? Will try that.

 

[Dr Ralph]

Just got “payment declined” message as I employed the $1 micro payments method. 50 transactions went through yesterday, and 7 today, before getting the message. Possibly because yesterday’s 50 still not showing as having been processed? Anybody else have a similar issue? Maybe need to wait for the transactions to be processed before attempting another 50? Will try that.

I had this at Coles in the last week. Wasn't sure if it was 50 transactions related or not. But everything was working again the next day.

 

[Dr Ralph]

Just received my first statement.

Was 37 pages.

Wonder if this will attract any attention!

 

[Claudia]

Just received my first statement.

Was 37 pages.

Wonder if this will attract any attention!

Well done! Flying under the radar. Maybe BW too busy closing branches to notice.
I wish I had started the 50 micro-payments p/d right from the start. Am trying to make up for lost time, but looks like I’ll have to wait until tonight for yesterday’s efforts to show up as being processed in my account before I can begin again.

 

[burmans]

I don't see any mention of the 50 txns / day limit in the T&C's.

Its an operational limit rather than part of the T&C's. In fact when I was doing this I managed on occassions more like 60-70 a day, but I can guarantee there is a point where no more transactions will be allowed.

 

[burmans]

Wonder if this will attract any attention!

Am 100% confident they will eventually get on to you but based on the previous experience this may take some time. Wouldnt boast too loud, there was a rumour last time they were watching this site.

 

[cvmceg]

After much entertainment reading this thread from the beginning and hearing of the tales of burmans et al. I opened an account last night.

Already spoken to a tech whiz friend to investigate a macro script

Hope to enjoy the festivities, albeit at a reduced rate this time around it seems.

C.

Card received 2 days later! promising start

 

[Leigh744]

Just signed up for an account from the 10k point offer. To waive the $6 fee for the account keeping by depositing $2k in a month does that need to stay in there? Or can I withdraw this the day after the deposit?