Bankwest Transaction account [General Discussion]

[burmans]

I'm not sure that the change in point award is attributed to the actions of those who made large numbers of micro-transactions in the past. I suspect it's just one of those business / product decisions that get made as a matter of course. It's a shame, but I was hardly shocked given the changes that have occurred to card transaction fees over the last few years.

You would suspect not as they cracked down on them long ago!. Probably more related to the value they were giving away compared to reduced rates of interest made the business case poor.

 

[NoName]

Unfortunately, as with much in life today, those trying to rip off the system for massive personal gain, have once again "killed the golden goose" and forced Bank west to reduce the benefits that we regular users can obtain. Bank west should have closed down these scamming methods from the start to minimize their exposure and to protect the average user for the long term - for that I am angry with Bank west, albeit not as angry as I am at these scammers and people who are hell bent on ruining what was an excellent scheme for the average user. Damn you Scammers!!!

Nearly four years since my account was closed and this reaction brings a renewed feeling of satisfaction at the >950,000 points I managed to harvest from it.

 

[Kangol]

Nearly four years since my account was closed and this reaction brings a renewed feeling of satisfaction at the >950,000 points I managed to harvest from it.

I remember you as one of the leaders!

Mine was closed and I managed to open another one which has paid points interest. For a short term thing it works for my situation, right now.

 

[Mattg]

Well the new interest/earn rates are in effect but I've decided to hang onto my account for now. The regular interest rates elsewhere are so low at the moment that it's still more or less worth it for me to keep some savings in this account and earn some Qantas points in lieu of (barely any) interest.

I'll now only bother using the card for transactions of $3 or less, rather than $5 or less, however.

 

[Danger]

Does anyone have an Excel calculator or the like they use to track their points earning with the transaction account? I feel as though I'm getting jibbed.

 

[MEL_Traveller]

Does anyone have an Excel calculator or the like they use to track their points earning with the transaction account? I feel as though I'm getting jibbed.

It's odd - a couple of months I seem to get a lot less than expected, and the third month I get a whole bunch more. Over a 6-month period it seems to average out, give or take a few points. Lots of things seem to affect it like the day of calculation (not sure if it's calculated on weekends?), the number of days in the month, and the posting date - which can vary by a few days if a weekend is included (or not).

 

[Danger]

Hmmm. Yeah, pretty opaque it seems.

 

[MEL_Traveller]

Hmmm. Yeah, pretty opaque it seems.

I think if you sat down and worked it out day by day it would probably add up. The formula is available, but the calculation date by Bankwest, transmission date to QFFF and the difference between the QFFF receive and posting date are the unknowns.

 

[Mattg]

Does anyone have an Excel calculator or the like they use to track their points earning with the transaction account? I feel as though I'm getting jibbed.

@madrooster do you have any thoughts on this?

 

[NoName]

From memory (been nearly 5 years since they closed my account) points were calculated up to the last WA business day of the month and credited on or around the 5th of the next month.

For example for March the earn dates would have been Sat 27 Feb (the last day for Feb points being Fri 26 Feb) to Wed 31 Mar - so a total of 33 days. With points transferred to QFF on or around 5 April - perhaps delayed a bit due to the public holidays. You can see how depending on where weekends and public holidays fall you could have months with less earn days in them which would explain why you haven’t received as many as you though you should have.

As I said this is just from memory. Definite information will be earlier in this thread.

 

[MEL_Traveller]

From memory (been nearly 5 years since they closed my account) points were calculated up to the last WA business day of the month and credited on or around the 5th of the next month.

For example for March the earn dates would have been Sat 27 Feb (the last day for Feb points being Fri 26 Feb) to Wed 31 Mar - so a total of 33 days. With points transferred to QFF on or around 5 April - perhaps delayed a bit due to the public holidays. You can see how depending on where weekends and public holidays fall you could have months with less earn days in them which would explain why you haven’t received as many as you though you should have.

As I said this is just from memory. Definite information will be earlier in this thread.

Thanks! Although even using that calculation - my points are still out for both Feb and Mar. Feb well over. Mar slightly under. (Other months are also out, but on average, the total points seem to be there.)

 

[NoName]

Thanks! Although even using that calculation - my points are still out for both Feb and Mar. Feb well over. Mar slightly under. (Other months are also out, but on average, the total points seem to be there.)

I can’t explain that one.

It may also have had something to do with when the transactions are finalised rather than when they are made. I still have my PAN somewhere so can probably still log in. I’ll try to have a look at a few statements when I get the chance and see if I can work it out exactly.

Of course it’s also possible that what was done 5 years ago is nothing like what is done now. So who knows, my info may be useless.

 

[Rick93]

From memory (been nearly 5 years since they closed my account) points were calculated up to the last WA business day of the month and credited on or around the 5th of the next month.

For example for March the earn dates would have been Sat 27 Feb (the last day for Feb points being Fri 26 Feb) to Wed 31 Mar - so a total of 33 days. With points transferred to QFF on or around 5 April - perhaps delayed a bit due to the public holidays. You can see how depending on where weekends and public holidays fall you could have months with less earn days in them which would explain why you haven’t received as many as you though you should have.

As I said this is just from memory. Definite information will be earlier in this thread.

Five years, since you got cancelled ?

I must have been one of the first to get shafted. I think I've been out for seven years !!

Arrh, the memories ...

Taking my two cards to Coles, and doing a thousand 1 cent transactions a day .....

Those were the days. About 5,000 QF points a day for around four months I think. Then wham!! Cards deactivated, and there was a few letters, stating T&Cs etc.

But basically, they never thought of people like us ( ok then, like ME ... )
..... and the cough I copped on THIS site too .....

 

[ramamba]

Those were the days.

I'm surprised I managed to keep my account even though a family member got the letter and was doing exactly same number of transactions to the same biller from the same browser window.

The only regret is we didn't go hard enough and only kept it to two cards each.

Surprisingly straight after the saga I started to use Bankwest as my main transaction account and still use it to the day, something about their app and the UI, it just seems less clunky then the other apps and online banking sites of the other banks I used.

 

[NoName]

It must be just about time to try again. I applied in 2019 and was rejected and told “maybe” they’d allow me to hold a product again after 5 years. Come September I might just give it another crack.

 

[coles525]

Are you still

Five years, since you got cancelled ?

I must have been one of the first to get shafted. I think I've been out for seven years !!

Arrh, the memories ...

Taking my two cards to Coles, and doing a thousand 1 cent transactions a day .....

Those were the days. About 5,000 QF points a day for around four months I think. Then wham!! Cards deactivated, and there was a few letters, stating T&Cs etc.

But basically, they never thought of people like us ( ok then, like ME ... )
..... and the cough I copped on THIS site too .....

Are you still blacklisted from cc use?

I asked a few years ago, which they mentioned I was currently not eligible for a new cc (hint hint ).

They couldn't provide any further info on the reason ( ), or the length of time I shouldn't bother applying.

 

[EestiTiger]

I received the letter too saying they were going to close my account. They never did and I still use it to this day. I applied and received a CC from them too a few years back with no drama.

Those were good days

 

[Duffa]

 

[Duffa]

And they didn't send me a message - I just happened across it when I was signing up Mrs D for same account. Sneaky buggers. I wonder when they were going to tell me?

 

[MEL_Traveller]

Hmmm. Thanks for the heads up. I wonder if there are any worthwhile alternatives?