Earn 2,000 bonus Qantas Points when you open your first Qantas Points Saver account with a $1,000 deposit in the 1st month^
^T&Cs Apply. New accounts opened 31/01/2023 to 28/03/2023. Min deposit $1k in first month. Excludes existing Qantas Points Saver customers. One points allocation per customer.
I would rather convert Everyday rewards to Qantas and pay for groceries using that extra interest.
now do a calculation on the deal instead of something else?
It's a calculation on actually using the bank account.
The maths on this deal and the bonus points is 2000 points / $0 because you just withdraw your money after the bonus. Divide by zero errors are super useful for everyone watching.
A day of interest?
Legend. Just saved me having to work this out!
Thanks for the math!
Don't forget Qantas points aren't taxed
Still correct though, isn't worth it currently
You can buy Qantas wine for $500 ish and get 10000-20000 points
So paying $400-500 for marked up wine?
Depends, if you used those 20k points you could get a $798 Business domestic ticket for 18,400
Spend 1/2 the money a mention in the OP and get 5X the points. Seems way better option
Nobody is spending $1000 in this deal.
@JohnHowardsEyebrows: You are fun at parties. OK so you aren't technically spending $1000 you give it to the bank for a year and they give you, wow $30 odd dollars and 2000 Qantas points. Profit! /s I'd rather spend the $1000 on alcohol throughout the year, and end up with 10000-20000 Qantas points
@casho: Or put the grand in, take it straight out, then get 2000 points. I won't bother with it, but suggesting buying overpriced wine as an alternative is nonsense.
P.s. you don't get to pretend you were being funny, when your comments are clearly serious. :)
@JohnHowardsEyebrows: Show me how over priced that wine is. "You are fun at parties" is pretending to be funny? Most sophisticated version of 'I didn't laugh' ouch, you good.' You got me
Can't see anything in the T&Cs about how long the $1k needs to stay in for - any ideas?
Doesn't look like there's a minimum but could be wrong… but I think the system is set so that you get rewarded based on average balance throughout the year. Doesn't sound like a huge return though.
I was wondering this, doesn’t specify a minimum so I’m assuming as long as you pay it in, there’s nothing stopping you withdrawing it again and still being eligible, but I’m really not sure.
Use Citibank PayAll to qudos bank
and you earn both credit card points and 2000 Qantas Frequent Flyer points
it works out to be 3 point / $100 each month
That's 1/3 what the BW Qantas savings account provides, though it doesn't reallyu pay any interest, but it provides fee free withdrawls overseas and no forex fees.
In looking forward to the 2023 list for good bank accounts.
Bonus points will be paid within 2 months of the end of promotion date, so could take up to May 28th.
Isn’t this just work 10 bucks?
I normally value at $0.01/point
so for me it values $20
But if you use points to redeem tickets or upgrade to Business it values more
(from $0.13 to $0.6 per point)
ref: https://www.finder.com.au/frequent-flyer-analysis-how-much-i…
Note that above calculation is based on ticket price in 2021, and ticket price has raised a lot currently so the point / values has increased
That Finder article and infographic actually uses 2018 data if you can believe it.
Easily $40+, my redemptions over the last few years haven’t worked out less than $0.02 per point and a lot have beaten this.
Did anyone else get an email from their sales and service department to perform manual verification? I submitted all the required documents like passport, drivers license and a recent utility bill last Monday, still no news till now.
Have already transferred $1k in, and no way to assess my account currently.
Anyone get the points yet?
I saw the comment saying it may take until May, but just wondering if anyone has already got them.
Nope nothing here
It says in the T&C that it would take 2 months after the promo ends to award the points.
I wonder if we could withdraw the money after a few days depositing?
I took the money out after depositing. Could see nothing in the terms that stated it had to remain.
yeah I withdrew it too. Cheers!
@akafinal: I didn't even let mine stay overnight. I hope that doesn't cause an issue. Again, T&Cs don't say it has to stay there, but I wouldn't be surprised if they way they check is by a nightly balance check.
@puffinfresh: Same here, literally left it three or four hours then transferred it back.
Should pay out the points otherwise i'll be miffed haha
tried to transfer money out yesterday via osko and instead of being instant it’s showing as an “uncleared transaction” happening a week later.
bunch of time on hold, was promised a call back which has yet to eventuate
Very concerning
got a message this morning to contact the fraud department, they couldn't help me told me to contact customer service
customer service told me i have to wait for the physical letter to arrive confirming my account has been opened.
Weird… let us know how you go if it works once you get the letter…
Have just setup the account, can anyone say what the fastest way to deposit the $1000 in my account is? Osko?
Anyone seen any sign of the 2000 QFF points yet?
Nope
Promo T&Cs state —
The allocation of 2000 bonus Qantas Points will be paid into the deposit customer’s Qantas Frequent Flyer Account within two months after the promotional period ends.
Ah… still a while to go then… thanks
So you get 3.2% interest, with the bonus of 400 Qantas points per $1000/year (or 0.4 points/$ per year). Comparing to ING, you're losing 1.35% interest (or 1.35c per $1 to treat both as simple, which is not correct, but good enough).
Is 0.4 Qantas points worth 1.35c? Not at current market rates. But if you just want the bonus, I'm sure it's an easy couple thousand points.