Qudos Bank's Qantas Points Saver

[Loga2015]

[h=2]You could win enough Qantas Points to take off to New York*[/h] If you're big on savings, then you'll love Qudos Bank's Qantas Points Saver - where you can earn more than interest on your savings.
Plus right now, Qudos Bank are giving you the chance to win one of four monthly prizes of 500,000 Qantas Points*. That's enough Qantas Points to take off to the Big Apple[SUP]~[/SUP]. Simply have at least $1,000 in your Qantas Points Saver account at the end of a month between April and July 2016 for your chance to win*.
With a Qantas Points Saver account, you'll also enjoy:

• Earning 400 Qantas Points^ for every $1,000 of your monthly balance per annum,
• $0 application fee,
• $0 account keeping fees.

https://www.qantas.com/fflyer/dyn/m...am=au:ff:banner:May:FF-welcome:carousel:Qudos

From the bank's website:

At Qudos Bank we're all about rewarding banking.
If you're big on savings you'll love our Qantas Points Saver - where you can earn more than interest on your savings.
Enjoy a competitive rate, $0 application fee and no minimum balance.
Variable rate 1.75% pa
Plus right now we're giving you the chance to win enough Qantas Points* to take you off to the Big Apple. You could win one of four 500,000 Qantas Points prizes!* That's pretty rewardin
https://www.qudosbank.com.au/Produc...m=email&utm_term=QPsaver&utm_campaign=QPsaver

I wonder if the 'No minimum balance' counts if we put in the money and move it out of this just to earn the points.

What do you guys reckon on this offer?

 

[moa999]

• Earning 400 Qantas Points^ for every $1,000 of your monthly balance per annum,

Variable rate 1.75% pa

So the points is effectively a 0.4-0.8% tax free booster (valuing QFF points at 1-2c)
Not great compared to Ubank, RAMS but certainly not bad if youve used up all of their offers.

 

[NoName]

Needs to offer points for every transaction like BankWest to get me interested.

 

[BAM1748]

And need to keep the system up over weekends. :shock: Last Sundays outage caused me some embarrsement paying a few bills when shopping. :evil:

 

[moa999]

Needs to offer points for every transaction like BankWest to get me interested.

This is a Saver account not a spending account

 

[Danger]

At quick calculation it seems not to be as good as the Bankwest Qantas transaction account (or whatever it's called). On a $110k I get about 13k QFF per month or 156k per year. This Qudos account would only earn 135k over three years.

Maths is not my strong point, though.

 

[puppysparkes]

And need to keep the system up over weekends. :shock: Last Sundays outage caused me some embarrsement paying a few bills when shopping. :evil:

I suspect their cloud based services were drenched last weekend and went down.

 

[NoName]

This is a Saver account not a spending account

It doesn't matter what sort of account it is. If it is only giving points for balances I'm not interested.

 

[burmans]

It doesn't matter what sort of account it is.

Bit of a non-sequitur that, it may not matter to you but if it's not designed as a transactional account why would any bank want to encourage transactional use! So would suggest it is important to the bank.

 

[nightelves]

At quick calculation it seems not to be as good as the Bankwest Qantas transaction account (or whatever it's called). On a $110k I get about 13k QFF per month or 156k per year. This Qudos account would only earn 135k over three years.

Maths is not my strong point, though.

How did you work out that you earn 13k ppm? Isn't it (110000/1000)*400=44k pts. Unless my maths is totally off. Which I believe it is.

 

[Danger]

How did you work out that you earn 13k ppm? Isn't it (110000/1000)*400=44k pts. Unless my maths is totally off. Which I believe it is.

I don't know how it's calculated. All I know is my $110k a month in change gets me 13k QFF points. If I'm being stung I'd like to know.

 

[PLANT]

Personally I would have in UBANK and get higher interest rate...... no?

 

[scwappy]

How did you work out that you earn 13k ppm? Isn't it (110000/1000)*400=44k pts. Unless my maths is totally off. Which I believe it is.

According to the QDOS calculator it is 44k p.a ie 3.6k per month plus interest ?

 

[Duffa]

Personally I would have in UBANK and get higher interest rate...... no?

Ubank is now a dog. I cleared out a few months back. Rabo bank is the go.

 

[flyfl]

Can't be, because it is

• Earn 400 Qantas Points* for every $1000 of your average monthly balance per annum)

I got excited and thought it was per month and only to get disappointed