Bankwest has shaken up the bank account market yet again, this time with Australia’s first transaction account that lets users earns Qantas Points for the debit card purchases they make and the account balances up to $50,000. The account also has a number of new age payment options including Apple Pay and Google Pay.
The Bankwest Qantas Transaction Account lets you access your funds with a Debit Mastercard, which means you can use it everywhere Mastercard is accepted in Australia and around the globe. You’ll also have access to the largest bank ATM network in Australia, with free withdrawals available from Commonwealth Bank or Bankwest ATMs.
Speaking of ways to pay, customers can leave their wallets at home by tapping their smartphones via either Apple Pay or Google Pay.
There is a $6 monthly fee attached to the account, but this will be waived as long as you deposit at least $2000/month (say, your monthly salary). If you do fancy taking your card abroad, you won't have to worry about being charged any overseas ATM withdrawal fees by Bankwest!
Let's get down to the Qantas Points on offer though because there are two ways to earn points:
Just remember that you'll have to be a Qantas Frequent Flyer member to earn points, as all Qantas Points will be credited to your Qantas Frequent Flyer account. The good news is that the $99.50 membership fee will be waived if you join via Bankwest.
The Bankwest Qantas Transaction Account could be great for anyone looking to earn Qantas Points through everyday banking and spending, though you'll need to deposit at least $2,000 a month to avoid the monthly account fee.
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 3 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 $150 leather shoes from Myer. It should be noted that balances over $50,000 will not earn Qantas Points.
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Balances from $0: 0.01% p.a. |
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n/a |
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n/a |
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$6.00 |
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$0 monthly account fee if you deposit min. $2,000 per month |
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Unlimited free domestic transactions from network ATMs, EFTPOS, cheque, counter withdrawals and Debit MasterCard purchases |
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$0.00 |
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Bankwest, Commonwealth |
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$0.00 |
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$0.00 |
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$0.00 |
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$0.00 |
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$0.00 |
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$0.00 |
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$0.00 |
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$0.00 |
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0% |
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$0.00 monthly |
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$0.00 |
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$0.00 |
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$1,000.00 |
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no |
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yes |
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no |
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yes |
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no |
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yes |
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yes |
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none |
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Earn 3 Qantas Points per eligible purchase and 0.3 Qantas Points per $100 on your account balance each day, up to $50,000. 3 points for overseas ATM withdrawals. |
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none |
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none |
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none |
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$0.00 |
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$0.00 |
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0% |
Apple Pay, Google Wallet, PayID, PayTo
^See information about the Mozo Expert Choice Awards
Great bank always willing to help you no matter what.
Read full reviewGreat bank always willing to help you no matter what.
Only personal bank account you can earn Qantas points with. very cool
Read full reviewOnly personal bank account you can earn Qantas points with. very cool
I love Bankwest as a whole , friendly service and excellent customer care
Read full reviewI love Bankwest as a whole , friendly service and excellent customer care
Sadly I moved away from Bankwest when they denied my homeloan application, I prefer to have all my accounts with the same bank. I loved the eftpos ring however finding a non chargeable ATM in rural areas is tricky. It's really a city bank. Technology easy to use.
Read full reviewSadly I moved away from Bankwest when they denied my homeloan application, I prefer to have all my accounts with the same bank. I loved the eftpos ring however finding a non chargeable ATM in rural areas is tricky. It's really a city bank. Technology easy to use.
This is a on line bank in the east. They do have a few shops over here. But hard to find. The one thing I like you get qantas points at the end of every month. You don’t lots of money in the bank. As a low wage worker. This helps me to travel with points
Read full reviewThis is a on line bank in the east. They do have a few shops over here. But hard to find. The one thing I like you get qantas points at the end of every month. You don’t lots of money in the bank. As a low wage worker. This helps me to travel with points
Glide Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, Garmin Pay
0% p.a.
Everyday Global Account
$0.00
Apple Pay, Google Wallet
0% p.a.
Everyday Global Account
$0.00
HSBC
Visa Debit
