Bankwest Hero Transaction Account

$6.00

Apple Pay, Google Pay, Payment Ring

1.00% p.a.

Bankwest Hero Transaction Account

$6.00

Apple Pay, Google Pay, Payment Ring

1.00% p.a.

Mozo Review   Bankwest Hero Transaction Account Review

Last updated: 23 July 2019.

What's hot:
  • 2019 Mozo Experts Choice Award winner

  • $0 monthly fee when you deposit $2,000 a month

  • 1.00% interest on balances up to $5,000

What's not:
  • 2.95% foreign exchange commission

Mozo snapshot:

Bankwest packs a heap of value into their Hero Transaction Account, with 1.00% interest on balances up to $5,000, unlimited free transactions online, over the phone, at network ATMs or with debit card purchases, plus no account fee as long as you deposit $2,000 each month. And it doesn’t stop there - you also get exclusive access to the Bankwest Lounge at Perth Arena and discounts on your food and drink while you’re there and have the option to upgrade to the platinum Mastercard debit card. 

No wonder it was named a Mozo Experts Choice Award winner in 2019 in the Exceptional Everyday Account category.

Key features:

If you’re sick of earning next to no interest on your bank account balance, then never fear: the Bankwest Hero Transaction account is here to save the day. With this Mozo Experts Choice Award winning bank account, you can earn 1.00% interest on balances up to $5,000. On balances higher than that you won’t earn any interest - which is all the more reason to set up automated payments into your savings account!

The Hero Transaction Account is fee free a long as you deposit at least $2,000 into it each month - for example, by having your salary paid into it (it’s $6 per month if you don’t meet this requirement). You’ll also enjoy unlimited fee free transactions online, over the phone, at CommBank or Bankwest ATMs, when using EFTPOS terminals, or when withdrawing over the counter.

The account also comes with a debit Mastercard which is fee free to use in Australia, but overseas you’ll attract a $5 ATM fee and a 2.95% foreign exchange commission.

If you deposit $4,000 each month, you can upgrade to the Platinum debit card. This gives you access to a bunch of cool features, including access to exclusive Platinum Mastercard offers through Priceless Sydney, a 24/7 Platinum concierge service, Worldwide Purchase Security Protection and Extended Warranty.

The Hero Transaction Account also comes with some perks of its own, including access to the Bankwest Lounge at Perth Arena. And while you’re there, you can snag a 10% discount on snacks and drinks as long as you’re carrying or paying with your Bankwest debit card.

Who it's good for:

Since it won a Mozo Experts Choice Award for Exceptional Everyday Account, we think it’s a pretty good pick for just about anyone With that said, the Bankwest Hero Transaction Account is particularly suited to someone who is using it as their main bank account, and so can deposit at least $2,000 each month.

If you’re into wearables, you’ll be pleased to hear that the Hero Transaction Account is available with Bankwest’s Halo ring - a wearable payment device that took out Mozo’s Experts Choice Everyday Banking Innovation Award this year.

Any catches?

If you don’t meet the $2,000 monthly deposit requirement, you’ll be knocked by a $6 monthly account fee. Plus, if you’ve got a big spend planned, keep an eye on the $1,000 daily withdrawal limit.

Details

Rates and fees information correct as at 18 September 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 1.00% p.a.
    Balances from $5,000: 0.00% p.a.

  • n/a

  • n/a

Fees
  • $6.00

  • $0 monthly account fee if you deposit min. $2,000 per month

  • Unlimited free domestic transactions from network ATMs, EFTPOS, cheque, counter withdrawals, phone, internet and MasterCard debit purchases

  • $0.00

  • Bankwest, Commonwealth

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • $5.00

  • 2.95%

  • $0.00 monthly

Other financial bits
  • $0.00

  • $0.00

Features
  • $1,000.00

  • no

  • yes

  • no

  • yes

  • yes

  • yes

  • yes

  • none

  • Deposit $4000 per month to be eligible for Platinum Debit MasterCard with exclusive benefits.

Atm card
  • none

  • none

  • none

Debit card
  • $5.00

  • $0.00

  • 2.95%

Payment options

Apple Pay, Google Pay, Payment Ring

Customer Reviews

How are Bankwest bank accounts rated by the Mozo community?

Overall customer rating
8.0/10
Price
7.4/10
Features
6.9/10
Customer service
7.9/10
Convenience
7.9/10
Trust
7.8/10

Latest reviews of Bankwest Hero Transaction Account

  • Overall
    5/10
    Ok

    They need more branches and tellers.

    They need more branches and tellers.

    Price
    4/10
    Features
    6/10
    Customer service
    2/10
    Convenience
    1/10
    Trust
    4/10

    Siv | Western Australia

    reviewed about 1 month ago

  • Overall
    10/10
    Not A Problem.

    Have been with Bankwest for over 50 years without a problem.

    Have been with Bankwest for over 50 years without a problem.

    Price
    9/10
    Features
    7/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Roy | Western Australia

    reviewed 11 months ago

  • Overall
    9/10
    Good

    Good bank, trustworthy, never had any problems with anything.

    Good bank, trustworthy, never had any problems with anything.

    Price
    8/10
    Features
    7/10
    Customer service
    7/10
    Convenience
    7/10
    Trust
    8/10

    Nathan | Western Australia

    reviewed over 1 year ago

  • Overall
    10/10
    Excellent

    Always happy to explain situations.

    Always happy to explain situations.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Beverley | Western Australia

    reviewed over 1 year ago

  • Overall
    10/10
    Good

    Bankwest is good.

    Bankwest is good.

    Price
    8/10
    Features
    9/10
    Customer service
    8/10
    Convenience
    9/10
    Trust
    7/10

    Cassandra | Western Australia

    reviewed over 1 year ago

Bankwest

About Bankwest

Bankwest is the bank best known for Making Banking Easier, an initiative which aims to make banking a more positive experience. Originally from Western Australia, Bankwest has attracted thousands of customers around the country with its competitively priced products such as the Hero Saver. In late 2008 the bank was bought by the Commonwealth Bank, who have promised to retain the Bankwest brand. So if you like the sound of Making Banking Easier, check out Bankwest's range of personal banking products including savings accounts, bank accounts, credit cards, home loans and more.

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