Bankwest Transaction account [General Discussion]

[kevrosmith]

Just discovered something weird.

100 payment receipt emails from Telstra yesterday, but only 93 payments according to Bankwest's online banking (all pending transactions).

It'll be a few days before I know if one is currently wrong or both are correct (7 1¢ payments not recognised by Bankwest = 35 QFF points lost, even though Telstra thinks the 7¢ was paid. I'd prefer the points.)

Maybe they'll have to manually process the other 7 payments and you'll get kicked out too....

 

[QF WP]

My first (quarterly) statement was produced this week, so have confirmed that the monthly deposits of $2K+ are there for 3 months. Now the waiting begins for my 10K...and it's nice to see they confirmed my QFF number and how many points earned thus far

 

[kevrosmith]

My first (quarterly) statement was produced this week, so have confirmed that the monthly deposits of $2K+ are there for 3 months. Now the waiting begins for my 10K...and it's nice to see they confirmed my QFF number and how many points earned thus far

Did you click on the "link" in the email, otherwise you may have missed the boat on the 10K sign-up bonus? Seems BW are tightening up on paying this out as per polardabar's experience reported a few pages eariler...

 

[QF WP]

Yes, I did. Set up the account via that link on 14 October and then finalised it by going "in branch" (ID requirements). Snip from original email:

"You recently applied online for a Bankwest Qantas Transaction Account".

In branch, discussed the offer with the CS girl and she indicated that it was proving popular "for that benefit". From my earlier post "Breanna did laugh when I divulges my (FF) usage of the term PAN"

I'm not worried yet, as the 3rd investment of $2,500 (I was making sure my amount was > $2,000) was only done on 20 December - this met the T&C's hurdle. QFF number shows, so I'll wait patiently.

Just tried BW webchat, but that was useless - need to ring up

 

[JohnK]

It'll be a few days before I know if one is currently wrong or both are correct (7 1¢ payments not recognised by Bankwest = 35 QFF points lost, even though Telstra thinks the 7¢ was paid. I'd prefer the points.)

Call Bankwest and lodge a complaint.

 

[coles525]

Wait for the 2nd actual monthly statement, NOT statement 2, issued 3 days later.

Ie: opened on nov 8th, wait for the statement in jan or feb (allow feb, as sometimes things are way way slow!).

** Unless you get quarterly issued ones, wait 3 months or so from opening **

 

[chadzok]

So do you guys just skip the weekends to avoid this whole 'offline transaction' thing? I've just been sticking to telstra on weekdays 9-5 to be safe, anyone doing alright with coles on weekends or any other tips for utilising those two extra days?

 

[coles525]

I don't wait, the telstra site says things done aftee 6pm, or on weekends will be completed on the next business day.

Still completed (approved) on the weekend, but not official till monday (100 transactions, at 50 per day (Sat & Sun) PLUS the actual Monday hit.

 

[N860CR]

I think Telstra is still taking the payment from the card as per normal however they don't process it onto the phone account until the monday.

 

[coles525]

I think Telstra is still taking the payment from the card as per normal however they don't process it onto the phone account until the monday.

100% correct.

 

[chadzok]

And here I am like a total noob, throwing away 1000 points every weekend because I didn't want to upset some poor data entry drone I'll never meet with a flood of 1c transactions.

 

[ETA_2022]

Call Bankwest and lodge a complaint.

Not necessary. It's correct now. 7¢ has been recognised by BW.

 

[ETA_2022]

I think I've set a new record this morning (at least for me). 12 MANUAL payments to Telstra so far (who else?) and still no duplicate payment warning. (It's the 4th card of 4 - the first 3 weren't as bad).

And last night I made 200 payments and have not received a single payment receipt email (yet?), even though I've received the emails for this morning's payments (which is bit unusual - that is getting the email within minutes of making the payment, instead of hours later, as has been the case lately).

Didn't the duplicate payment warning used to come after the second payment to the account, rather than after the second payment on each card to the account, as is the case now?

Telstra likes keeping us on our toes, doesn't it.

And now back to trying to get that damn duplicate payment warning.

Update: Finally got the warning with the 16th payment!

 

[ETA_2022]

Just discovered something weird.

100 payment receipt emails from Telstra yesterday, but only 93 payments according to Bankwest's online banking (all pending transactions).

It'll be a few days before I know if one is currently wrong or both are correct ...

Well strangely the 7¢ is on the end of the latest statement, while the other 93¢ paid at the same time isn't.

It's not a problem as the online balances are correct, so the 93¢ is not missing.

 

[ETA_2022]

The real problem with the inconsistent duplicate payment warnings from Telstra is not us 1¢ers, even though it's really annoying.

The real problem is if someone pays a $150 Telstra bill, and a second payment by them or their partner, using the same or a different credit card, doesn't generate the warning.

I'd love to hear Telstra explain why they have the warning, but you don't get it when you accidentally pay the bill a second time.

 

[JimmyH]

polardabar - Regarding clicking a link to activate the promo for 10k points.....The welcome to the account email I received ended in the following!

"Kind regards,*
Online banking team*

Note: You should never click a link in an email to go to Bankwest's site and log in. The link may not be*
genuine and you might be disclosing confidential access details to a 3rd party."

 

[fersea]

In that case the worst thing that could happen is your account is in credit. If you really pushed it you could probably get a refund but if not you just pay less next month. It is not as if you lose the money. Other methods could lead to multiple payments.

 

[TripleB]

I was just doing the maths on leaving cash in the Bankwest transactional account to earn 12 point/$100/month vs moving the cash to something earning a higher interest rate.

I thought that I would share the maths in case it is useful to someone else.

Let's assume that the figures are $10,000 and the effective tax rate on any interest earnt is 32%. I've ignored the token interest earnt in the bankwest transactional account.

The rate on the bankwest 'high' interest account is 2.5% - but it is easy enough to get 4% at ING or ubank (non-promo rates).

After tax the $10k would earn about $22.60 in interest or 1200 points a month.

For say a SYD-LAX discount Y to J upgrade that's an effective cost of about $1356 - which is a lot cheaper than I thought that it would be.

 

[hossein_au]

I was just doing the maths on leaving cash in the Bankwest transactional account to earn 12 point/$100/month vs moving the cash to something earning a higher interest rate.

I thought that I would share the maths in case it is useful to someone else.

Let's assume that the figures are $10,000 and the effective tax rate on any interest earnt is 32%. I've ignored the token interest earnt in the bankwest transactional account.

The rate on the bankwest 'high' interest account is 2.5% - but it is easy enough to get 4% at ING or ubank (non-promo rates).

After tax the $10k would earn about $22.60 in interest or 1200 points a month.

For say a SYD-LAX discount Y to J upgrade that's an effective cost of about $1356 - which is a lot cheaper than I thought that it would be.

You lost me at the last sentence... How did you get from the 2nd last sentence to the last?

 

[TripleB]

Maybe I have this all wrong (probable) but here's my logic ...

Y-J upgrade is 72,000 points

At 1200 points a month it would take 60 months to earn that number of points. If you had left the money in ING you would earnt (after tax) 60x$22.60 ($1356).