Bankwest Rewards Transaction Account

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

Bankwest, Commonwealth

Debit Mastercard

Bankwest Rewards Transaction Account Review

Rates and fees information correct as at 16 April 2018.

Review published: 30 April 2013

What's hot:

  • Australia's first rewards transaction account

  • Unlimited internet, phone, Bankwest ATM transactions

  • Mozo Expert Choice Award Winner 2018

What's not:

  • Low 0.01% interest

Mozo snapshot:

Bankwest have delivered yet another fantastic, modern and cheap product in the Rewards Transaction Account. Low to no fees and an innovative rewards program make this an account you shouldn't pass up in a hurry. For all these reasons and more, the Bankwest Rewards Transaction Account was judged to be a winner of the Exceptional Everyday Account Mozo Experts Choice Award 2018.


Key features:

The Bankwest Rewards Transaction Account gives you more bang for your (very little) buck. A monthly fee of just $6 will get you unlimited phone, internet and Bankwest ATM transactions, two free cheque transactions and unlimited branch deposits. Better yet, if you're looking at regularly depositing more than $2000 a month, that monthly fee will be waived - what a bargain! You have both the CommBank and Bankwest ATM networks to choose from (over 4,000 machines in total), chances are you'll never be far from a free ATM.

As its name suggests, the Rewards Transaction Account grants customers access to a rewards scheme, which is highly unusual in the world of transaction accounts. Rewards points can be earned in a variety of ways: for every $100 in the account each day, you'll earn one point and for every dollar spent on a linked Rewards Debit MasterCard you'll earn five points. Shop online overseas or while travelling and you'll earn 10 points per eligible transaction. 

The rewards on offer include Woolworths, Caltex and iTunes gift vouchers, flights, food and wine, and even kids' toys.


Who it's good for:

The Bankwest Rewards Transaction Account is great for anyone who is after a cheap card that gives back. 

Any catches?

The low 0.01% interest rate means this account isn't for savers - if you're looking to grow your savings, check out a high interest savings account instead.


How are Bankwest bank accounts rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
8.2

Based on 400
Bankwest bank accounts reviews

7.5 7.2 8.2 8.0 8.1

Read Bankwest bank account reviews by the Mozo community

Latest reviews of Bankwest Rewards Transaction Account

Bankwest

Bankwest Rewards Transaction Account bank account review

Overall rating   7 / 10

Competitive premiums and great customer service

They charge no to low fees.

Full review

They charge no to low fees.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Lynn (NSW), reviewed about 2 months ago

Bankwest

Bankwest Rewards Transaction Account bank account review

Overall rating   2 / 10

Fees can be expensive

Fees and charges are too high and were only introduced after I created an account with Bankwest.

Full review

Fees and charges are too high and were only introduced after I created an account with Bankwest.

    Price   1 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

Less

Steven (QLD), reviewed about 1 year ago

Bankwest

Bankwest Rewards Transaction Account bank account review

Overall rating   7 / 10

Excellent

Love it

Full review

Love it

    Price   7 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

Less

Monique (WA), reviewed about 2 years ago

Bankwest

Bankwest Rewards Transaction Account bank account review

Overall rating   6 / 10

Good customer service and range of products.

Not enough outlets across Australia but the phone service is good and credit limit convenient.

Full review

Not enough outlets across Australia but the phone service is good and credit limit convenient.

    Price   5 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   3 / 10

Less

Cassandra (NSW), reviewed over 2 years ago

Bankwest

Bankwest Rewards Transaction Account bank account review

Overall rating   9 / 10

Personal service, great website a one stop bank

I love bankwest, they are approachable, they come out from behind the desk and talk to you. Nothing is too hard, they have accounts and facilities to meet your needs. Most transactions are online and the website is easy to use, fast and the...

Full review

I love bankwest, they are approachable, they come out from behind the desk and talk to you. Nothing is too hard, they have accounts and facilities to meet your needs. Most transactions are online and the website is easy to use, fast and the changes you make are instantaneous. Commonwealth bank is now copying BankWest and as they say, copying is the best form of flattery. If a large bank is following their example then BankWest must be pretty good.

    Price   9 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Chris (VIC), reviewed almost 3 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

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 MasterCard debit 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

  • Access to Bankwest More Rewards, earning 1 point per $100 on your account balance every day, 5 points per eligible purchase at Australian based retailers and 10 points on overseas shopping online and abroad. Deposit $4000 per month to be eligible for Platinum Debit MasterCard with exclusive benefits.

Atm card

  • none

  • none

  • none

Debit card

  • $0.00

  • $0.00

  • 2.95%

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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