Bankwest Transaction account [General Discussion]

[thehound]

Are you asking about if you transfer money from your Bankwest to say a Commonwealth account, i.e. using a "transfer money" facility on the online banking?

I believe there is a fee attached to this.

This is the key document: (http://www.bankwest.com.au/library/pdf/PDS_20040121-160125.pdf) which was found on this page: Bankwest Qantas Transaction Account, under the tab "Rates and Fees".

What is confusing me is exactly how much you are charged... I can't tell if it's $0.50 or $5.00... or nothing.

If a simple account transfer (done online between a Bankwest and non-Bankwest account) is covered in Clause 4.2 as said above, then that seems alright - there is no fee.

I would assume walking into a branch and asking for cash over the counter attracts no fee.

Mind, I have never heard of a bank account before where transferring funds between an account of the host bank to another bank's account has ever attracted a fee. It was quite limited even in the days where everything seemed to have a fee attached to it.

I've transferred money into and out of this account from my Westpac account - no fees.

 

[burmans]

I've transferred money into and out of this account from my Westpac account - no fees.

Personally I think I'll be making a PDF of clause 4.2 should I need to raise with FOS, they may not charge fees until EOM.

 

[Kefuan]

Applied for mine Tuesday last week (i think). Everything arrived friday.

I got the platinum debit card just because I could but I would say nothing of benefit will come out of it since i put everything on my macquarie visa platinum.

Seems to be quick service so far though and I really like the banking app.....

 

[Mr_Orange]

Just been reading about this in more detail on the Bankwest web site.....

Is it fee free for foreign ATM withdrawals (as Citi Plus), or do they still charge 2.95%, but just no fixed ATM fee?

5 points /$ on debit Mastercard spend.... this seems much better than any credit card except for the fact that one needs to have funds in teh account to cover purchases. Have I missed something?

Also, there appear to be per transaction charges on electronic transfers to non-Bankwest accounts - WTF, how can they justify that?

 

[markis10]

5 points /$ on debit Mastercard spend.... this seems much better than any credit card except for the fact that one needs to have funds in teh account to cover purchases. Have I missed something?

You have missed something, its per transaction = 5 points

• 5 Qantas Points per eligible purchase completed with your Debit MasterCard

 

[Mr_Orange]

You have missed something, its per transaction = 5 points

• 5 Qantas Points per eligible purchase completed with your Debit MasterCard

Doh!, thanks markis10. I knew it seemed too good to be true!

 

[woodborer]

Personally I think I'll be making a PDF of clause 4.2 should I need to raise with FOS, they may not charge fees until EOM.

Isn't clause 4.2 already in a PDF? No need to make one, just save the one that exists.

 

[Buzzard]

Just applied online and had a good laugh when I was not able to complete the application.

Australia Post was not able to verify my address :shock:

SA drivers license is not an acceptable document for I.D. :shock:

Unable to enter my somewhat unique postal address so will have to ring when my account opens

I am going to set up a weekly transfer of $500 into this account so will reach the $2K per month requirement

Will have to have another read of the terms and conditions when I have more time but I think this could be a cow with large udders, just ripe for the milking :mrgreen:

 

[burmans]

Just applied online and had a good laugh when I was not able to complete the application.

Australia Post was not able to verify my address :shock:

SA drivers license is not an acceptable document for I.D. :shock:

Unable to enter my somewhat unique postal address so will have to ring when my account opens

I am going to set up a weekly transfer of $500 into this account so will reach the $2K per month requirement

Will have to have another read of the terms and conditions when I have more time but I think this could be a cow with large udders, just ripe for the milking :mrgreen:

In my case it said that Aust Post couldnt verify my address and yet they approved me anyway.

 

[Holly]

In my case it said that Aust Post couldnt verify my address and yet they approved me anyway.

Is there anything which needs to be done physically to activate this account, assuming that Aus Post could verify my address? I'm overseas currently so I can only apply online, and won't get to use the atm card for a couple of months.

 

[jlien]

Still struggling to get my zero transaction account converted over to this qantas account.

My RM is trying to chase up the person who is managing this program (fortunately they work in the same building) hopefully this goes smoothly, though something tells me it wont.

 

[legroom]

I've transferred money into and out of this account from my Westpac account - no fees.

This PDF document suggests that a fee of $0.25 will be charged per transfer (no sum is mentioned) to a non-Bankwest account.

See INTERNET BANKING (p. 2)

But it is interesting to note your experience.

CLOSURE of ACCOUNT

* At store: free

* Other means (presumably electronic): $10 (see p. 1)

My local store is open late on Thursday and also open on Sat & Sun.

 

[ejd711]

Ok - so today I used my Qantas Cash card and spent the >$250 to get those bonus points.

Now time to find $2000 to attack the BW account after being paid on Wednesday.

 

[drivatruk]

This to me seems the safer way to do it anyway - transfer April, May, June.

I'm with you. I spoke with CS over the phone who saidi needed the $2000 put through by the end of April. Bit annoying cause i applied just before Easter so by the time i get the card I won't have a lot of time to get the cash into the account.

The CS rep said just go to a branch and put $500 in, then take it out, then repeat 3 times..

 

[coles525]

The rules say Your first month is fee free. Ie: Open it on April 27th, you have till May 27th to put your 1st 2,000 into it.

It is then may 1st - June 1st... etc...

 

[ejd711]

I'm with you. I spoke with CS over the phone who saidi needed the $2000 put through by the end of April. Bit annoying cause i applied just before Easter so by the time i get the card I won't have a lot of time to get the cash into the account.

The CS rep said just go to a branch and put $500 in, then take it out, then repeat 3 times..

I hadn't thought of doing this. Will I remember to do this 4 times? I think I'll just find a spare $2,000 for a few days each month...

 

[DeKa]

I'm with you. I spoke with CS over the phone who saidi needed the $2000 put through by the end of April. Bit annoying cause i applied just before Easter so by the time i get the card I won't have a lot of time to get the cash into the account.

The CS rep said just go to a branch and put $500 in, then take it out, then repeat 3 times..

You can deposit immediately, as soon as they email your account and SMS your password to you.
Log in .. you can see the BSB and Acc number and make a deposit from another bank account.

 

[deejo77]

I haven't got my card and I used internet banking to find the bsb and account number - walked into the branch and paid the $4K - will bpay it out tomorrow to pay off the citibank signature - its a nice little holding account for a few days a month - thinking of keeping it as I want a bankwest CC at the end of the year

 

[zainman]

This PDF document suggests that a fee of $0.25 will be charged per transfer (no sum is mentioned) to a non-Bankwest account.

See INTERNET BANKING (p. 2)

But it is interesting to note your experience.

CLOSURE of ACCOUNT

* At store: free

* Other means (presumably electronic): $10 (see p. 1)

My local store is open late on Thursday and also open on Sat & Sun.

I did a transfer to a commbank account (yes bank west is owned by commbank) but no fee was charged.

 

[raa007]

I'm with you. I spoke with CS over the phone who saidi needed the $2000 put through by the end of April.

Offer now ends 31st May, just a heads up.