The Bankwest Qantas Transaction Account is something of a unique account, in that it is a standard transaction account offering Qantas Points on transactions made on the card. As part of a new promotion for the card, new customers of the card may be eligible for a 10,000 point bonus for taking up the card, and meeting the requirements of the promotion.
Bankwest have offered a 10,000 points bonus in the past, however, they have somewhat restructured the promotion to ensure that you are actually using the card in order to receive the bonus. Note that the bonus is aplit into two separate 5,000 bonus points payments. In order to receive the full binus points you will need to:
- Open a Bankwest Qantas Transaction Account on or before 11 January 2016
- for 6 consecutive calendar months from the day your account is opened, deposit at least $2,000 per month (e.g. your
salary) and spend $500 per month on eligible purchases.
- After 3 calendar months from account open, if you have satisfied the deposit and spend criteria, 5,000 bonus Qantas Points will be credited to your Qantas Frequent Flyer account within 60 days.
- After 6 calendar months from account open, if you have satisfied the deposit and spend criteria the remaining 5,000 bonus Qantas points will be credited to your Qantas Frequent Flyer account within 60 day
- 5 points per eligible transaction on the attached debit Mastercard. (This means, among other things, a purchase transaction, rather than an ATM withdrawal, for example)
- 5 points per ATM withdrawal overseas (but this will involve an ATM fee)
- 12 points per month for each $100 in the account (the fineprint suggests this accrues at a rate of 0.4 points per day, for eachÂ $100 of the daily balance)
As mentioned, the account comes with a debit Mastercard to enable you to access for funds. The account has a monthly fee of $6, however this is waived if $2,000 a month is deposited into the account. This $2,000 is required for at least 3 months in order to take advantage of the 10,000 bonus points offer.
ATM access is available free through the Bankwest and Commonwealth bank network of ATMs. Of course, use at other ATM networks will result in an ATM access fee from the ATM owner. Overseas, there is no ATM access fee (although the owner may still charge one), but unfortunately, there is still a 2.95% foreign currency fee charged on the Australian Dollar amount of the transaction.
There is an optional Platinum Debit Card available, although this requires that $4,000 a month be deposited into the account. This
provides additional features of a 24/7 concierge, Worldwide purchase security (three months loss, theft or accidental damage) andÂ extended warranty.