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Bankwest is offering an easy 10,000 Qantas Frequent Flyer points for signing up to a Bankwest Qantas Transaction Account!
About the Bankwest Qantas Transaction Account
The Bankwest Qantas Transaction Account is a bank account that lets you earn Qantas Points on your account balance and debit card transactions. It has no fees if you deposit at least $2,000 per month.
There are also no fees for overseas ATM withdrawals. You’ll even earn 5 Qantas Points per overseas ATM withdrawal, and there are no international transaction fees.
The Bankwest Qantas Transaction Account has long been popular with AFF members because you can earn 3 Qantas Points for every eligible transaction made on the accompanying debit card. This applies to purchases of any amount, up to a limit of 50 transactions per day. (That said, Bankwest has been known to close the accounts of people who try to “game the system” by making lots of transactions worth only one cent.)
You’ll also earn 0.3 Qantas Points for every $100 held in your account per day, up to a balance of $50,000. That works out to be 9 Qantas Points per month for every $100 held in your account. The trade-off is that the regular interest rate on this account is only 0.01%.
Other Australian bank accounts that offer points on the account balance (in addition to regular interest) include the Qudos Bank Qantas Points Saver and BOQ Specialist Everyday Plus accounts.
Bankwest’s current sign-up bonus offer
If you haven’t had a Bankwest Qantas Transaction Account in your name in the last two years, and open a new account by 30 November 2022, you can earn an additional 10,000 bonus Qantas Points.
To be eligible for the sign-up bonus, you would just need to make at least 10 eligible debit card transactions each month for the first three months after opening your bank account.
Here are the full offer terms & conditions, as per the Bankwest website:
The 10,000 bonus Qantas Points promotion is a stand-alone promotion and is only available to new Bankwest Transaction Account customers who open a Bankwest Qantas Transaction Account between 1 September 2023 and 30 November 2023 (‘promotional period’) and meet the following criteria. The Bankwest Qantas Transaction Account must remain open during the promotional period and at the time of crediting the Qantas Points. The Bankwest Qantas Transaction Account must be linked to a valid Qantas Frequent Flyer Account to receive bonus Qantas Points. Customers must be a new Bankwest Transaction Account holder who has not held a Bankwest Qantas Transaction Account in the last 24 months.
Customers who have closed a Transaction Account (not including a Bankwest Qantas Transaction Account) more than 30 days prior, will be considered a new Transaction Account holder. For the first 3 months from the date of Account opening, customers must complete a minimum of 10 eligible transactions per month using a Bankwest Debit Mastercard.
Most purchases are eligible purchases except some things such as balance transfers, bank fees, gambling, government charges and anything else listed in Section 1 of our Bankwest Qantas Rewards Program terms and conditions (PDF). If you have satisfied all the eligibility criteria, 10,000 bonus Qantas Points will be credited to the Qantas Frequent Flyer Account linked to the Bankwest Qantas Transaction Account within 60 days of you meeting the eligibility criteria. The 10,000 bonus Qantas Points promotion is subject to change, promotion ends 30 November 2023.
Bankwest will waive the $6 monthly account fee each month that you deposit at least $2,000. This can include depositing $2,000, then transferring it back out to another bank account the next day. So if you’re eligible for this offer, it’s potentially an easy way to earn 10,000 Qantas points at no cost!
The last time Bankwest offered a sign-up bonus on its Qantas Transaction account was between June-August 2022, when it gave 5,000 bonus Qantas Points to new applicants who met the same criteria.
For more ways to earn bonus Qantas Points, check out our list of this month’s best Qantas credit card sign-up offers.
