Bankwest Qantas Transaction Account

$6.00$0 monthly account fee if you deposit min. $2,000 per month

Bankwest, Commonwealth

Debit Mastercard

Bankwest Qantas Transaction Account

$6.00$0 monthly account fee if you deposit min. $2,000 per month

Bankwest, Commonwealth

Debit Mastercard

Mozo Review   Bankwest Qantas Transaction Account Review

Last updated: 21 February 2019.

What's hot:
  • Earn Qantas Points on your account balance 365 days a year

  • Winner of a Mozo Experts Choice Award 2019

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

What's not:
  • Minimal interest but you’ll earn Qantas Points on your daily balance

Mozo snapshot:

Bankwest has shaken up the bank account market yet again, this time with Australia’s first transaction account that earns you 5 Qantas Points per eligible purchase and 0.4 points per $100 on your account balance each day. And as long as you deposit at least $2000 or more each month, you'll pay no monthly account keeping fee. 

All this innovation and value lead to the Bankwest Qantas Transaction Account receiving a 2019 Mozo Experts Choice Award for best Exceptional Everyday Account.


Key features:

The Bankwest Qantas Transaction Account lets you access your funds with a Debit MasterCard so you can use it everywhere MasterCard is accepted in Australia and around the globe. You’ll also have free access to the largest bank ATM network in Australia through being able to use your card at any Commonwealth Bank or Bankwest ATM.

There are two ways you can earn Qantas Points with the account. You will earn 5 Qantas Points on eligible purchases. What’s an eligible purchase you ask? It covers most regular purchases that you would make on your card such as groceries, petrol, clothing, restaurants etc but it does exclude foreign exchange purchases, BPay payments, cash-out transactions and any gambling or gaming transactions.

You will also earn Qantas Points on your account balance daily. The rate of accrual for this is 0.4 Qantas Points for every whole amount of $100 making up your daily balance. On a balance of $3000 this means you’ll earn around 12 Qantas Points a day.

If you have your salary direct deposited into the account you won’t have to pay an account fee (as long as you deposit at least $2000 a month), otherwise the fee is $6 a month. Like most transaction bank accounts the account doesn’t pay much interest (0.01% p.a.) but at least with this account you will be earning Qantas points on every dollar that’s in your account daily.

You’ll have to be a member of Qantas Frequent Flyer member as all Qantas Points will be direct credited to your Qantas Frequent Flyer account and if you’re not already a member the good news is the $89.50 joining fee will be waived if you join at qantas.com/joinffbankwest!

You can use the card internationally and there are no overseas ATM fees charged by Bankwest with the card, but overseas ATM withdrawals and purchases will attract a 2.95% foreign transaction fee.

Who it's good for:

The Bankwest Qantas Transaction Account is great for anyone looking to get more out of their everyday banking and can deposit at least $2000 a month so they can avoid paying account fees.


Any catches?

While this is the first transaction account that rewards you with Qantas Points for your day-to-day spending, just be aware that there is a flat earning rate of 5 points per eligible purchase. This means that a $15 lunch at the local cafe will earn you the same number of Qantas Points as those $250 leather boots from Myer.


Details

Rates and fees information correct as at 20 March 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: 0.01% p.a.

  • none

  • 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 Debit MasterCard purchases

  • $0.00

  • Bankwest, Commonwealth

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • 2.95%

  • $0.00 monthly

Other financial bits
  • $0.00

  • $0.00

Features
  • $1,000.00

  • no

  • yes

  • no

  • yes

  • yes

  • yes

  • yes

  • none

  • Earn 5 Qantas Points per eligible purchase and 0.4 Qantas Points per $100 on your account balance each day. 5 points for every overseas ATM cash withdrawal.

Atm card
  • none

  • none

  • none

Debit card
  • $0.00

  • $0.00

  • 2.95%

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 Qantas Transaction Account

  • Overall
    10/10
    Excellent

    Like that you earn Qantas points.

    Like that you earn Qantas points.

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

    Lana | Queensland

    reviewed about 3 years ago

  • Overall
    10/10
    Great staff are key to Bankwest

    Great local team who really listen.

    Great local team who really listen.

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

    Melanie | Western Australia

    reviewed over 3 years ago

  • Overall
    1/10
    Worst bank ever

    Worst bank to bank with- smart ATMs aren't so smart when they lose your money and bank can't help...

    Worst bank to bank with- smart ATMs aren't so smart when they lose your money and bank can't help you , as they have incompetent staff, then get told it can take a month and a half to get my money back if I ever see it again... Almost $1000.

    Price
    5/10
    Features
    0/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10

    Matt | Victoria

    reviewed over 3 years ago

  • Overall
    9/10
    I'm happy with Bankwest

    Great bank account, I collect frequent flyer points with this account, so an added bonus.

    Great bank account, I collect frequent flyer points with this account, so an added bonus.

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

    Heather | Western Australia

    reviewed over 3 years ago

  • Overall
    10/10
    Great

    Best ever. The dishonour fee is $10 for those who get them every so often.

    Best ever. The dishonour fee is $10 for those who get them every so often.

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

    Amy | Western Australia

    reviewed over 3 years 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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