Bankwest Transaction account [General Discussion]

Today I did one lot of 50 1¢ payments to Telstra just after midnight (AEST), and I did another lot at about 5 AM, which I was surprised I was able to do. So midnight AEST is not my 50 transactions per day limit reset time.

In the past, I've been unable to do a first lot of 50 1¢ payments to Telstra around 2 AM.

It seems obvious when I think about it, but it didn't occur to me before now. I think the 50 transactions per day limit is reset, each day at midnight Perth time, which is 3 AM in Melbourne. I assume it's the same for everyone.
 
kogayka said:
... still wondering how Ricky93 managed to overcome this barrier
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Because Coles & Woolworths were/are not checking with Bankwest before accepting the payments. Bankwest are only being informed of the payments some time later, so the 51st and subsequent payments have all occurred before Bankwest found out and therefore was unable to stop them.
 
ETA_2015 said:
A warning to all.

If you set up a transfer on a weekend, that is to occur on the following Monday, the funds will be withdrawn from you account immediately, rather than on Monday.

Apparently this is because the computer thinks that the day after Friday, is Monday, so if you set up a transfer up on a Saturday, the computer thinks it's Monday, so it withdraws the funds immediately.

At this stage, I don't know if you lose interest & QFF points because the money left your account 1, 2 or 3 days early.
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The interest & points paid for November were the same as I had calculated, so unless I had an angel intervene (I did call them about this issue), the computer think's it took the money on the Monday, so it gave me interest and points on that money until Monday. All good.
 
ETA_2015 said:
Today I did one lot of 50 1¢ payments to Telstra just after midnight (AEST), and I did another lot at about 5 AM, which I was surprised I was able to do. So midnight AEST is not my 50 transactions per day limit reset time.

In the past, I've been unable to do a first lot of 50 1¢ payments to Telstra around 2 AM.

It seems obvious when I think about it, but it didn't occur to me before now. I think the 50 transactions per day limit is reset, each day at midnight Perth time, which is 3 AM in Melbourne. I assume it's the same for everyone.
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Yes, it is 50 transactions midnight to mid-night Perth time.
 
My second card ( partner's ) came in with some 14,000 points for the month.

I'm still finding new info, on how the Coles / Woolies machines work ...

As stated by OP, Coles / Woolies must have a delay with communicating with BW.

I've noted from my online statement, that I can be two days behind with processing ( showing 'pending authorisation' for up to two days ).

It seems to be the weekend period, where over 50 transactions can be made per card. But not always, and not on all card types. My partner's 'ordinary' card will only do the 50. Then I move to a different machine, and my Plat card will just keep going !! ( up to around 60-70 transactions, then I pay off, and move to another machine, and do another 60-70 etc.)
 
I've heard from an internal source that the bank is now looking into people 'taking advantage of the 5 points per transaction offer'
 
risaka said:
What's the worst that could happen? Close account? Blacklist from BW?
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Unlikely... Nobody has done anything wrong. The terms and conditions have been complied with. I can't believe a major bank could be as stupid as Bankwest have been here.
 
N860CR said:
Unlikely... Nobody has done anything wrong. The terms and conditions have been complied with. I can't believe a major bank could be as stupid as Bankwest have been here.
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Yes, it is an over-generous & stupid terms of reward with no minimum spend.

If it ends up with a minimum of $1 to earn 5 points, that's still far better than most credit cards giving only 1 point for $1!
 
ablecookie said:
Surprised that takes them that long, seems a bit slack!

So better make the most of it.
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This is what happens when people call them and whinge that they're having trouble processing more than 50 transactions, then have someone look into their account details and staff notice the activity on the statement, or order 18 different versions of ordinary and platinum cards to run hundreds of transactions per day. There's a chance it may have been overlooked if some weren't continually drawing attention to the practices by making direct contact with BW about it.

I'm grateful for the offer and have done my best to make the most of it like the others here (albeit with a single card), but I'd never dream of contacting the bank and risking euthanizing this golden goose. But as they say, them's the breaks and we'll have to see how long the current no minimum policy applies.
 
danwell said:
This is what happens when people call them and whinge that they're having trouble processing more than 50 transactions, then have someone look into their account details and staff notice the activity on the statement, or order 18 different versions of ordinary and platinum cards to run hundreds of transactions per day. There's a chance it may have been overlooked if some weren't continually drawing attention to the practices by making direct contact with BW about it.

I'm grateful for the offer and have done my best to make the most of it like the others here (albeit with a single card), but I'd never dream of contacting the bank and risking euthanizing this golden goose. But as they say, them's the breaks and we'll have to see how long the current no minimum policy applies.
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Make hay while the sun shines and all that. Naive to think it wouldn't be stopped eventually with or without people abusing it or drawing attention etc IMO. That said I'll believe it's been squashed when it's actually squashed and if it is then so be it. We will move on to the next promotion.
 
I don't disagree that it likely would have been noticed and stopped eventually even without repeated calls and the kind of activity that drew attention (like 200 transactions per day on an account usually limited to 50), and even though the only indication that BW are moving to prevent this is an uncited remark on an internet forum I wonder whether it would have been looked at so quickly otherwise.
 
They have known we are doing it since day 1. I can guarantee you that.

They don't launch a major new product and not track it. Paying these points costs BW money so they will have reports showing how much money the account is bringing in vs expenditure. They'll likely have reports tracking the biggest users of the account and who is generating the most points etc.

They'll very likely have an analyst dedicated just to this account to determine if it is financially viable - from the first day.

EDIT: And yes, the worst that can happen is black listing from Bankwest. That's unlikely though, they're more likely to just apply a minimum.
 

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