Got this in my email today:
To continue earning your Spend&Save^ variable bonus interest, you'll need to:
- Be aged 18-34 years with a Westpac Life and Westpac Choice account in your name (Joint accounts are not eligible and only one Spend&Save^ offer applies per customer).
- Make 20+ eligible purchases each month with the Debit Mastercard® linked to your Westpac Choice account. Purchases must be settled (not pending) by 11:59pm AEST on the second last business day within a month.
This will be beneficial if:
- Assuming RBA makes the interest rates are the same
- you use your Westpac debit card as your main card
- you are under 34 years old
- and dont have over 30k in savings
Not so much for everyone else then, I think i'll be jumping on the Macquarie bandwagon. The savings rate for Westpac (excluding spend&save bonus is 4.25%, but still need to grow by end of month) is the same as Macquarie's (but no hoops)
moved from ING to ubank when ING decided to steal their customer's interest earnings.
moved from ubank to up bank when ubank stopped allowing payments from save account & introduced a monthly deposit road hump. ubank have got even shittier since today & have joined ING in also stealing customer's interest earnings.
moved from up bank to macquarie bank after up bank decided to join the other 2 banks & also steal their customer's interest earnings.
maybe there should be a go fund me for these banks to save them from going bankrupt?
it's like whack-a-mole with banks at the moment. good luck.