Minimum deposit of $200 and no withdrawals in the month.
My wife and I had savings accounts with BankWest. My wife's accounts was only used to receive dividends and I had one which I only used occasionally. Both accounts were automatically closed by the bank without any advice to us. It appears they do this with zero balance accounts that have not been used for several months. The first we knew was when we got a letter from the share registry saying crediting of a dividend to my wife's account had been unsuccessful. The account had been automatically closed a day or so before the dividend was due to be credited. Normally dividends are credited about every 6 months, but due to the covid downturn there had been no dividend 6 months ago and it was just on a year since the last account activity. The accounts did have zero balance, but I am staggered the closed them without attempting to provide some sort of advice to us (our physical and email addresses have not changed so no excuse for Bankwest there). My account had been closed not much more than 6 months after the last activity, so not sure why the differing periods. We had done a fair amount of banking with Bankwest in the past, and the accounts were a legacy from that time. No great loss to us now, but we will never be opening BankWest accounts again (share registry charges $25 to reprocess the dividend credit to a different account!).
Bankwest is an easy to deal with and reliable bank. I use Bankwest for my general savings account and they have already been readily available to sort out any issues. They are also quick to notify of any suspicious activity and check in to make sure that everything is in order.
I have used Bankwest from a very early age. I am always greeted and experience lovely customer service when I am in the bank. Staff will also look into better options to increase savings and other alternatives to save money. The Hero account is the one I use mostly. By depositing $2000 a month, account keeping fees are waived which is important to me otherwise I would look elsewhere. The deposited amount can include your salary. I like that I have a choice of using Bankwest and Commonwealth ATMs, it makes life so much easier as well as no withdrawal fees. Also the interest rate applied to the balance is 0.1% up until $5000.99
Is a great bank for a savings account for transactions in WA. Outside of WA no branches if someone wants to do cash deposit to a account. Always get great and prompt service when needed either in branch or online.
I rate Bankwest very highly. I have been with them for over 20 years with my Savings (Transaction) Account, Home loan, Personal loan & Credit Card. They are always easy to deal with. Staff at the bank have been there a long time and remember you so it's a happy, friendly interaction. They keep in contact if I haven't told them I'm travelling and I get a call if I have made a big transaction overseas. When I asked for an interest rate cut rather than go to another bank - they obliged. The online banking is very user-friendly also.
Been with this bank since 1990. Worked for them for 12 and a half years, still a customer (they're our only bank). Always friendly, reliable, competitive, trustworthy!
Interest rate at present is very low, however Bankwest used to be the most competitive saving account! There are no online fees associated with this account which is excellent.
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Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Everyday or Glide transaction accounts.
Deposit $2,000 each month and make 5 eligible payments from your Go Account. If you are between 18 and 25 deposit $1,000.
Make at least 1 deposit and no more than 1 withdrawal, including internal transfers or external payments.
Bonus rate for first 3 months, reverting to 0.15% rate after
Ongoing bonus rate applied if in the previous month $1,000 or more is credited to the linked Day2Day Plus account and 5 eligible transactions are made by the linked account.
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