Audited by bank for business purchases on personal card

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elogic

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hi
has anyone been audited by their bank for work purchases on personal card​
 
hi
has anyone been audited by their bank for work purchases on personal card​

Bit of a vague question but I think that no-one can audit you, except for the Australian Taxation Office, a bank may politely want to discuss your transactions but I don't think you are under any obligation to tell your bank about any of your purchases unless they are unapproved or fraudulent transactions? Are you using a personal card for some large transactions?
 
Hi eastwest101
my bank is asking we're the purchases all personal?
There looking at what points I've earnt
 
Hi eastwest101
my bank is asking we're the purchases all personal?
There looking at what points I've earnt

None of their business what you spend on. I would think even asking such a question borders on illegal.
 
Thats completely up to you and depends on what the purchases were and what % of them were personal and business related......

If you purchased say 500 televisions you may have a difficult argument to mount as to how that could be personal if you have a credit card that prohibits business expenses in the terms and conditions of the credit card. As an aside are you able to identify which bank and which credit card you are referring to?
 
It's the big W
i questioined the recent points cap to my platinum card and told they would change to a new black card out
but they then went on to tell me they are checking my purchases to the card were non business related.
they mentioned points may need to be reimbursed
im not sure how they would do this, what happens if I spent them?
 
They can see what you are spending your money on, eg ATO figures prominently in the statement so if they awarded points for that then it isn't your issue. You didn't ask them to reward you points, you just used your credit card to do the transactions.

Is the Big W Woolies or Westpac?
 
I stopped my application when reading on the 5th or so line of the application:
Please note: If this card is to be used predominately for business or investment purposes (other than investment in residential property) you will need to apply for a business card.
Being the best Amex card on the market for a particular type of spend, not surprised Westpac is trying to reign in the damage.
 
Ok. That's my card too. I do put a lot of personal expenses on it too but really I wouldn't tell them anymore than they can work out for themselves. Like the ATO example. And I just did a $9000 ATO transaction today. :)

If predominantly means frequency then I'm well in the clear. If it means $$ amount then maybe 40% ish.

I've had this card for maybe 10 years but only started the ATO payments perhaps 12 months ago.
 
My concern is there statement of taking qf points back, can they do this?
 
i would think clawing back of points would be unreasonable if you have not specifically breached the T&Cs

i would be cooperating with them in terms of what was and was not business spend (read: plead ignorance), otherwise I would think a summary judgement and assuming the worst on the bank's part is likely...
 
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It's none of the banks business what I spend, they have their conditions but I also have mine conditions.

Do not hesitate to take your business elsewhere.
 
My concern is there statement of taking qf points back, can they do this?
Um, probably not legal but they are a bank and you aren't so the only thing you can do I would think in reality is change banks or spend lots of time writing to the banking ombudsman.
 
This was discussed a while back (last year?), and from memory the banks can take points back if they "find' that purchases were not personal purchases. ATO payments were mentioned, but I think it was the Woolies branded CCs which were not taking points back, but cancelling cards.

I'm sure it is quite clear in the Terms and Conditions. I suspect the bank will get their way, nothing illegal about enquiring about how a customer is utilising the CC (personal vs business), and (I guess) nothing illegal about pursuing their suspicions if they have good cause.
 
The sheer arrogance in some of the comments really shocks me sometimes.

Everyone here knows that for the most part, their businesss spend is against the terms of their contracts but when the banks wise up to this every now and then, you cry bloody murder!

Not saying that if you can make it work, don't - heck I do it too - but understand that its part of the game. You win some, you loose some. Shouting and getting arrogant only serves to make you look foolish.

My two cents
 
Yes it all really depends on the initial contract and terms and conditions. One should read them carefully:)
 
The terms and conditions of the programs at Westpac, generally disallow business expenses from accruing points, and also allows for a point adjustment if they are incorrectly awarded. See, for example, section 10 of the Altitude terms and conditions. You may end up arguing over the validity of those conditions, but they are there.
 
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