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Bankwest Hero Transaction Acc $0 Maint Fee with $2000-$5000 deposit monthly earn 5%pa upto $5K

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Bankwest Hero Transaction Acc $0 Maint Fee with $2000-$5000 deposit monthly earn 5%pa upto $5K
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eecchhoo on 11/04/2008 - 17:20 bankwest.com.au (61 clicks)

I think this is good for people that think NAB Gold is not suitable for them as this one have lower deposit amount.

An electronic withdrawal is any cash withdrawal or debit transfer made at or using BankWest Online Banking, Phone Banking, Direct Debit, Periodical Payment, or a BankWest ATM, EFTPOS terminal or selected Other Bank ATM (NSW, TAS, ACT and NT – Commonwealth Bank, VIC – Westpac, QLD – Bank of Queensland and SA – BankSA) where the “Savings” or “Cheque” button was selected.

The minimum aggregate deposit required to the account per calendar month is $2,000. If a total of $2,000, excluding any interest payments, is not received into the account by the last business day of the calendar month for two consecutive calendar months (excluding the month during which the account is opened), we will write to you telling you that we will convert your account into a Lite Transaction Account – Direct Option"!—break—>

Check the PDS: http://www.bankwest.com.au/library/pdf/PDS_20071004-171348.p…

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closed Comments

  • Bargain4U on 11/04/2008 - 17:33

    This has been posted before.

  • eecchhoo on 11/04/2008 - 17:37

    Ok sorry about this.

    Please delete this post please.

    I thought this is good as your transaction account and link it to your high interest account.

    Thanks

  • user27 on 11/04/2008 - 18:27

    Should just get a TeleNet saver account 7.8% or Regular saver 9%

    • eecchhoo on 11/04/2008 - 22:27

      This is a Transaction account which can be linked to your telenet saver …

  • elcheapo on 12/04/2008 - 21:21

    interest rates is not that good.. other bank offers more interest.. plus $2000 minimum.. too much..

    • y12345678 on 14/04/2008 - 10:24

      A very good deal.
      This is a daily transaction account instead of online saving account. you can use that to pay your bills, to withdraw cash at ATM and …..

  • 7up on 16/04/2008 - 22:46

    robo is better

  • Crownie on 24/04/2008 - 01:22

    This seems good BUT imho BankWest's best assets is their 7.75% TeleNet Saver and 9% deposit account are much better.

    Transfer your salary into this account, move as much as you want to save into a linked TeleNet Saver and (if you can spare it) $50-$500 per month into the 9% and you have a much better savings plan.

    Whats really sad is how little interest the "big" banks really give you. Compare the 5% PA to the .01% PA that Westpac gives you, which one would you prefer!

    • eecchhoo on 24/04/2008 - 09:41

      Yes Crownie that is how i managed my money the Hero is my transaction account and my ONline account such as Telenet Saver or Robo account link to this one and we all get our best deal.

      Every dollar of our money in the Hero account work harder compared to other transaction accounts.

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