Bankwest Transaction account [General Discussion]

[EestiTiger]

Question is ... Why allow it at all?

First time around, the "error" and the slow repair, can be explained away.

2nd time around?

I see a few references to 'micro-payments' again. A few here and there aren't going to probably raise any flags. Back in the day when we were all pumping out 50 x 1c payments EVERY day is when they 'eventually' got their act together to attempt to cancel accounts. Try doing 50 micropayments a day for a while and see if they have any process in place to notice that.

 

[BettyB]

Just got my card as well. Do I select 'savings' or 'credit' when I use an EFTPOS machine?

In the experiences I've had since getting the card I usually don't get to select an account. The EFTPOS terminal does it for me. I hope that these transactions are counting to earning points.

 

[Claudia]

I’m getting close to the 2nd month of having this card, and need to top up with $2000 to comply with the condition for getting the 10000 bonus Qantas points. When do I need to top up? If I opened the account on 21 June, when do I need to top up, is it before 21 July, or would it need to be a day after? Is there a cutoff date, time limit for the monthly $2000 top up? I don’t want to miss out on the bonus points because I failed to deposit the $2000 as per their requirements.

 

[strongarmAU]

i thought the 2k was only to avoid account keeping fee?
10 separate txns was the trigger for the 10k bonus point allocation?

 

[Dr Ralph]

i thought the 2k was only to avoid account keeping fee?
10 separate txns was the trigger for the 10k bonus point allocation?

Correct.

 

[Claudia]

Correct.

Okay, thank you, I’ve just got a note to myself to deposit $2k into the account in the 2nd month. To avoid the account keeping fee, do you know when in the 2nd month it needs to be deposited?

 

[GSP]

Okay, thank you, I’ve just got a note to myself to deposit $2k into the account in the 2nd month. To avoid the account keeping fee, do you know when in the 2nd month it needs to be deposited?

That is a valid question, is it based on 1 month of opening the account or by calendar month. I suspect the latter but aren't totally sure so will cover all bases. A call to the chat site of Bankwest who are pretty informative (I've had a couple which I've detailed earlier in this thread).

 

[Dr Ralph]

Okay, thank you, I’ve just got a note to myself to deposit $2k into the account in the 2nd month. To avoid the account keeping fee, do you know when in the 2nd month it needs to be deposited?

Don't know. To be safe I'm transferring my salary in and then straight out to my normal savings account each pay cycle.

 

[knightfall88]

Anyone else also has had this account in the past and just trying it to see if the bonus points come through anyway?

 

[burmans]

Anyone else also has had this account in the past and just trying it to see if the bonus points come through anyway?

According to a post upthread we have been "banned" so I havent even bothered trying!

 

[Claudia]

I’m getting close to the 2nd month of having this card, and need to top up with $2000 to comply with the condition for getting the 10000 bonus Qantas points. When do I need to top up? If I opened the account on 21 June, when do I need to top up, is it before 21 July, or would it need to be a day after? Is there a cutoff date, time limit for the monthly $2000 top up? I don’t want to miss out on the bonus points because I failed to deposit the $2000 as per their requirements.

Am answering my own question after checking the PDS:
“The obligation to deposit this amount does not apply until the end of the first full month after the account is opened.”
Therefore, if you haven’t deposited sums totalling at least $2000 by the end of the first full month that you opened the account, then the $6 account keeping fee will be charged on the first business day of the next month. As I opened the account on 21 June, I would need to deposit sums totalling at least $2000 by 31 July, and if I don’t, then the $6 account keeping fee will be applied on 1 August (assuming that is a business day).

 

[cvmceg]

After much entertainment reading this thread from the beginning and hearing of the tales of burmans et al. I opened an account last night.

Already spoken to a tech whiz friend to investigate a macro script

Hope to enjoy the festivities, albeit at a reduced rate this time around it seems.

C.

 

[Dr Ralph]

Already spoken to a tech whiz friend to investigate a macro script

Working well for me so far

 

[BettyB]

Working well for me so far

Which business are still taking micro payments?

 

[Dr Ralph]

Which business are still taking micro payments?

@BettyB, I've learnt from my time on AFF that it's better not to post details on the forum where it can be quickly shut down because of large scale abuse. Seen this too many times.

I know that some business, like Telstra and AGL, for example, stopped the micro payments following on from the transactions associated with this promo a couple of years ago. But not all businesses have (yet) stopped the process. I'm using one large business to do micro transactions of .01 each time. Benefit for me is that it:

1) Get 5 QFF each time from Bankwest
2) Gets around the credit card surcharge for transactions.

Happy for you to PM me and I'll let you know which business this is for. But I'm not posting this information in this forum.

 

[Claudia]

@BettyB, I've learnt from my time on AFF that it's better not to post details on the forum where it can be quickly shut down because of large scale abuse. Seen this too many times.

I know that some business, like Telstra and AGL, for example, stopped the micro payments following on from the transactions associated with this promo a couple of years ago. But not all businesses have (yet) stopped the process. I'm using one large business to do micro transactions of .01 each time. Benefit for me is that it:

1) Get 5 QFF each time from Bankwest
2) Gets around the credit card surcharge for transactions.

Happy for you to PM me and I'll let you know which business this is for. But I'm not posting this information in this forum.

What are micro-payments? Are they different to BPay payments? I thought they were the same and just spent half an hour doing $1 micro-payments to a large provider, only to then read Bankwest’s T&Cs which states that BPay payments are not considered transactions for the purposes of getting the 5 QFF points:
“Qantas Points are accrued on all eligible purchases made using your Card. Qantas Points are not accrued on:
• cheques;
• BPAY® payments;”

 

[Dr Ralph]

What are micro-payments? Are they different to BPay payments? I thought they were the same and just spent half an hour doing $1 micro-payments to a large provider, only to then read Bankwest’s T&Cs which states that BPay payments are not considered transactions for the purposes of getting the 5 QFF points:
“Qantas Points are accrued on all eligible purchases made using your Card. Qantas Points are not accrued on:
• cheques;
• BPAY® payments;”

A micro payment is a small payment. Eg paying your Telstra bill by credit card .01 cent at a time.

 

[Claudia]

A micro payment is a small payment. Eg paying your Telstra bill by credit card .01 cent at a time.

Thanks, Dr Ralph. I’m obviously a complete novice, have never had a debit card before, and didn’t realise that I could use it as a credit card (without the CC surcharge). Will try for 50 micro-payments using the CC option tomorrow.

 

[cvmceg]

Thanks, Dr Ralph. I’m obviously a complete novice, have never had a debit card before, and didn’t realise that I could use it as a credit card (without the CC surcharge). Will try for 50 micro-payments using the CC option tomorrow.

Indeed, but of course, be aware of your time cost in doing so

 

[avinashm]

Does this trigger a credit enquiry on my credit file?