BankWest Zero and Internet banking

LM27 on 09/03/2009 - 12:14

Because of the ATM reform, i deicded to open a BankWest Zero transaction account.

From their website, it mentions "unlimited free electronic transactions", however, on the Banking Fees Guide (http://www.bankwest.com.au/library/pdf/PDS_20040121-160125.p…), there are numerous transaction fees (between 20c to 25c per payment) associate with transferring funds to another bank and using BPay. This is a bit confusing.

Could any BankWest Zero account holder from forum confirm whether there is a fee involved for doing Internet Banking?

Cheers,

M27

General Discussion

Comments

  • GreenLego on 09/03/2009 - 22:36

    I joined up with HSBC following a recommendations from OzBargains. Its pretty much fee free and only time you would need to pay a fee is if you go to a counter at any time, as far as I know. And you can use Westpac ATMs without any fees, if you are worried about not having any HSBC ATMs near you. BPay is free also, if you use that a lot.

    • M27 on 10/03/2009 - 11:16

      I have been with HSBC for 3 years, originally they have 5 free withdraws from any ATM every month, which was excellent. Since the ATM reform, they have changed the policy to have free ATM access from Westpac only. This is not atrractive at all, as I can simply open a Whestpac Choice account(no account fee if make a deposit of 2000 every month), which has almost the same range of ATM network plus much more branch offices.

      That's why I am thinking to switch banks.

      • GreenLego on 10/03/2009 - 11:20

        The brochure saids you can still withdraw from HSBC ATMs without charge, and not just Westpac. Has it changed since the brochure was published?

        • M27 on 10/03/2009 - 14:08

          It is still valid, however, there are few HSBC's own ATMs.

  • [Deactivated] on 10/03/2009 - 12:08

    Their is NO fee with bankwest Hero - if you keep to the terms - ie $2000 pm deposit. And unlike HSBC over the counter wdls are free (7 days a week) and there is no 5 wdl limit. Its only CBA ATM's that are free, which depending on where you live this may be a change from their old ATM reciprocal arrangements

    The interenet charges are for other accounts - the no fee T&C's overides this fee - if that makes sense. I havent been charged for internet access or transactions since opening this account about a year ago. AND I also originally was concerned with exactly the same thing as you are questioning

    Hope that helps

    • M27 on 10/03/2009 - 14:11

      thanks ozpete. now it explains. :)

  • John on 10/03/2009 - 14:01

    I've been using Zero since last year. I have never been charged a fee to do these:

    • Any ATM transactions
    • Over the counter (Branch) Withdrawal
    • Internet Transfer to another Bank West account

    I think there are fees for internet transfer to different bank account. But that's usually the case with any bank account.

    I'm happy with my Zero account, highly recommend it :)

    • freddy on 10/03/2009 - 23:38

      I never pay fees for account transfer with my ANZ and others.
      Only for other-bank ATM, or counter transactions.

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