Designed to help keep costs down, the Bankwest Easy Transaction Account is an everyday transaction account with no monthly fees and no minimum monthly deposit. With a Platinum Debit Mastercard®, you can seamlessly use your own funds via the global Mastercard network as you access ATMs fee-free across Australia or overseas. Want to start bucketing? You can now.
What’s great?
Keeping things simple, the Bankwest Easy Transaction Account makes it easy for you to use your own money to pay for stuff online and in person. So, what else is on offer?
Go Fee-Free
If you want a money-saver, the Bankwest Easy Transaction Account could be exactly what you’re looking for. You will pay no ongoing service fees, with no requirement to deposit a certain amount month to month. You can also use your Platinum Debit Mastercard® to withdraw cash at more than 10,000 ATMs Australia-wide operated by Bankwest and other major banks including CBA, NAB, ANZ, and Westpac with no ATM fees to pay as well as overseas. Take note though, that ATM operators may still charge a withdrawal fee.
Enjoy Mastercard Benefits
As a cardholder, you can take advantage of Mastercard’s vast network to pay in person at more than 38 million locations around the world, and to pay online everywhere Mastercard is accepted.
Of course, you also benefit from the various features Mastercard provides as standard, such as contactless payments via Mastercard PayPass, and Zero Liability Protection against fraudulent transactions made using your card.
Start Bucketing
What is bucketing exactly? Bucketing is designed to make budgeting and saving easier, allowing you to channel your money towards certain savings goals or ‘buckets’. With the Bankwest Easy Transaction Account, you can open up to 10 accounts to bucket your money, nickname them, shuffle their priority and set goals, all within the Bankwest App.
Go Platinum
With the Bankwest Easy Transaction Account, new cardholders will receive an automatic upgrade to the Platinum Debit Mastercard® with added benefits, including no foreign transaction fees for online and overseas purchases as well as no foreign ATM fees. Note that Platinum Debit Mastercard access is available to Australian citizens and temporary or permanent residents over 16 with an Australian residential address (limited exceptions may apply, subject to conditions).
What’s worth considering?
While the Bankwest Easy Transaction Account certainly helps to keep costs down, with no monthly fees to worry about, it’s worth checking out the small print to find out if any other fees may apply. For example, if you request for a paper statement or setup a salary transfer, you will be charged extra fees.
Why should you choose it?
If you want a simple transaction account that helps you save on fees over time, the Bankwest Easy Transaction Account could be well worth looking into. You will pay no monthly fees, no matter how much or how little you deposit, with the opportunity to save further when accessing fee-free ATMs across Australia. Anyone from the age of 11 can apply at any Bankwest branch while applicants aged 16 and above can open this account online.
glyn
October 11, 2024hi, Looking for a card to use on American cruise ship that doesnt charge conversion fees from AUD to USD. does this card do that?
admin
October 15, 2024Hi Glyn, this card has no foreign fees on overseas transactions, but I can’t say for sure how it works on cruise ships. Chances are it’s considered an international transaction, but you might have to give Bankwest a call to double-check. Safe travels!
STEPHEN YOUNG
September 29, 2024I usually load $AUD on my Debit Master card for travelling overseas. When withdrawing Euros from O/S ATM’s Mastercard does the conversion rate. Does Bankwest Easy Transaction Account Bankwest platinum debit card use the same method and should the conversion rate be similar.
admin
October 9, 2024Hi Stephen, Bankwest uses the Mastercard exchange rate on its products but don’t disclose if they add any margin on top (but you can see the rates here). You’ll likely pay a foreign transaction fee as well. Thanks, Stephen!
Mani
July 28, 2024I would like to use the Bankwest platinum debit card to withdraw cash from ATMs, especially when in Singapore. Does this debit card come automatically with opening an Easy transaction account? Please let me know what the foreign ATM fees would be – my current cash topped-up card charges 3% or $4, whichever is greater. I also note that Bankwest’s FX rates are quite poor, compared to what’s shown on XE.
admin
July 30, 2024Hi Mani, yes you’ll get a Platinum debit card with this account, which means there are no foreign transaction fees and no ATM fees (just remember the ATM provider might charge a third-party fee). Banks and travel card providers will charge different FX rates, so you’d need to weigh up if the savings on ATM and transaction fees is worth the extra cost.
Jennifer Bishop
April 20, 2024Can l use my own money with this card shopping online and in the shops
admin
April 28, 2024Hi Jennifer, this is a bank debit card, which means it withdraws money from the linked bank account, which you’ll set up when you apply. You need to have the funds there to be able to use it (not like a credit card, which you spend and then pay back later). So yep, you’ll be using your own money with this card. Thanks Jennifer!
Hong
April 4, 2024Hi, I am over 55 years old and I need to know if I apply for the Retirement advanrage account, would i automatically get the platinum debit mastercard?
Regards
Hong
February 23, 2024How much is the currency convert fee?
admin
March 4, 2024Hi Hong, typically, the currency conversion fee depends on the specific account or card you have. If you’re interested in avoiding foreign transaction fees altogether, you have the option to switch to a Platinum Debit Mastercard and you’ll pay no fees on foreign transactions and ATM withdrawals overseas.
vince albanese
January 29, 2024hi with your easy transaction account, what are the exchange rates for australian dollars i put into this account ,thai baht currently is frim 23.20 to 23.40, where can i please look to find this information, regards vince.
admin
January 31, 2024Hi Vince, you’re on Debitcards.com.au, one of Australia’s debit card comparison sites. You can find Bankwest’s foreign exchange rates here. Please note that it updates from time to time.
Robert LEE
January 12, 2024Can I deposit Euros in this account?
If not, then what currency conversion charges are there when purchasing goods and services in Europe?
admin
January 25, 2024Hi Robert, this account only accepts AUD, but you can make overseas purchases and you won’t be charged any foreign transaction fees. But, you might be charged a standard currency conversion fee by Mastercard, and third-party ATM fees if you withdraw money from an ATM overseas.
Jennifer Day
December 11, 2023Does the transaction account charge currency conversion fees on international currency withdrawals?
admin
December 18, 2023Hi Jennifer, if you currently hold the Bankwest Easy Transaction Account, you may have the option to switch to a Platinum Debit Mastercard. With that, you’ll pay no fees on foreign transactions and ATM withdrawals overseas.
Steven Laios
December 8, 2023Hi, If I withdraw from an overseas ATM (eg in Europe), which bank does the conversion, the overseas bank or Bankwest? The overseas bank would give a lower conversion rate. So, if Bankwest does the conversion, will it be at the current market rate? Regards, Steve
admin
December 12, 2023Hi Steven, Bankwest does the currency conversion. Bankwest will likely use the current market rate but some banks do add their own small fee on top, so it’s difficult to know how competitive their rates are. The good thing about this account is that there are no overseas ATM fees by Bankwest (just remember the ATM operator may charge a fee, though). Thanks Steven!
Richard John Baker
September 3, 2023If I place $4,000 into my account now, will my account automatically get the platinum benefits straight away ie this month?
admin
September 5, 2023Hi Richard, the Bankwest Easy Transaction account doesn’t require a $4000 monthly deposit to get the platinum card anymore – you’ll get it automatically if you’re an Australian citizen over 16. I’ve updated our guide that still included that information. Thank you!
Richard John Baker
September 3, 2023We are travelling overseas on 10 Sept. I would like to deposit an AUD amount into the card before we leave and use the card like a mastercard while we are away. I am happy for each transaction to be converted to Euros at the point of sale rather than loading the card up with Euros to use. Can you please confirm that I will NOT be charged an international transaction fee (or similar)?
admin
September 5, 2023Hi Richard, Bankwest says there are no foreign fees on purchases, which means you won’t be charged by Bankwest to use your card overseas. But, there will still be a currency conversion fee (which you can’t avoid, really). Bankwest also says you may be charged overseas ATM fees by the operator. If you want to be extra sure, I’d recommend calling Bankwest directly on 13 17 19.
Les Hare
July 3, 2023When are interest payments calculated and is it based on minimum monthly balance?
Thank you
admin
July 6, 2023Hi Les, interests are typically calculated based on the daily closing balance. Please note though that the specific details regarding when interest payments are calculated and whether it’s based on the minimum monthly balance may vary. I recommend reaching out to Bankwest directly at 13 17 19 or referring to their T&Cs for further details.
Mariska
April 21, 2023Can we add an additional debit card to a transaction account? We don’t want to open a joint account. My husband work FIFO so we need 2 debit cards on 1 account.
admin
April 24, 2023Hi Mariska, Bankwest lets you add an additional cardholder to a debit account (called a signatory). Your husband would need to visit a branch with some photo ID to be added if he’s not already a Bankwest customer. This is what Bankwest says: “You can give someone else access to your transaction or savings account by adding them as a signatory. This means they can generally do everything an account owner can do except close the account.” Hope that helps!
Toni
March 11, 2023I tried to open an Easy Transaction account online (because I need this to open an easy saver). The info on the website says it will only take a few minutes to open the account. But after putting in all my info I got a message saying ‘it looks like you can’t open this particular account online’ and I can phone or go to a branch (but there are no branches outside of WA!). I find this quite frustrating and makes me reluctant to proceed. I’ve never had a problem with opening an account online before with any other bank.
admin
March 14, 2023Hi Toni, I’m sorry to hear about the trouble you had. It sounds like you didn’t pass Bankwest’s Know Your Customer process as part of the digital ID check. If you have any other forms of identification you can try using that. If not, give them a call to see what they can do for you. Best of luck!
Graham Nicholas
December 4, 2022When purchasing an item overseas using the country’s currency, eg Thai Baht, what exchange rate does the debit card use at the time of the transaction?
admin
December 6, 2022Hi Graham, since the exchange rate varies over time, the card issuer will determine the exchange rate at the time of transaction.
cc
November 23, 2020does am actual debit mastercard ( card with chip), for an easy transaction account have eptpos also?
admin
November 23, 2020It just uses the Mastercard network. If it did have an eftpos logo on the actual card as well. Then it could work with that network though they are not usually.
Heino Hofferberth
June 11, 2020What does it mean to “deposit $ 4,000 into your account”……for how long please? Is there a Platinum Deposit Account available ?
Looking forward to hearing from you.
Regards
Heino Hofferberth
admin
June 12, 2020Hi Heino, you have to deposit $4,000 each month to unlock the extra platinum benefits. If you have your pay put in this could do it. The benefits are 3 months insurance for loss, theft or damage on certain purchases. Plus up to twelve months extended warranty insurance on certain purchases made in Australia. If you don’t deposit this amount 1 month, then these bonus features would drop off for that month.
Duc
December 29, 2019Can i order one of these debit card online?
admin
December 31, 2019Hi Duc, to open a Bankwest Easy Transaction account visit: https://www.bankwest.com.au/personal/bank-and-save/bank-accounts/easy