on 22-06-2017 05:24 PM
just wanted clarification on the following. We received our statement for the credit card due on 3 July and decided to pay it early. So we transferred an amount onto the card from our offset account and it has shown up as going in correctly but the "statement balance" still shows as the full amount owing but the minimum amount payment Is gone.
For example, if the statement balance due on July 3 is "-$3000" and then we transfer $2500 into the card, shouldn't the statement balance be "-$500"?
just want to make sure we are paying off the card correctly and in full
on 23-06-2017 02:48 PM
Hi @Dave, thanks for your question :-) The statement balance will show the amount that was owing on the day that the statement is issued, and won't change in online banking when you make a payment towards it, whereas the minimum balance will show the amount required before the due date to avoid any late fees being raised, this amount will update automatically when payments are made to the card, so that you can see in real time how much (if any) you still need to pay before the due date. I hope this helps clear up any confusion :-)
on 23-06-2017 03:00 PM
Ok perfect! Thank you very much for your help!
so as long as I transfer the amount shown in the statement balance to to credit card before the due date then I pay no interest on that?
on 23-06-2017 04:58 PM
on 17-10-2017 02:31 PM
Hi @Shohan, thanks for your enquiry. There are a couple of ways in which you can arrange to automatically pay your Credit Card, as below:
1) You can request a Periodical Payment be set up, which is managed by Bankwest. This will allow us to debit the account your behalf, for either the full statement balance, the minimum repayment amount, or a fixed dollar value. This can be done by calling our Contact Centre on 13 17 19, by chatting to us via the "Chat Now" button within your Online Banking, or by sending us a BankMail Message, through the "Message Centre" tab of your Online Banking.
2) You can set up a Scheduled Payment transfer from your account to your Credit Card, via the "Payments and Transfers > Internal Transfer" tab within your Online Banking. Please note however that this option will only allow for a fixed figure on a fixed date, so you would need to adjust the amount and payment date each month manually when your statement is received.
If you would prefer to make manual payments each month, you may also be interested to know that if you use the Bankwest Mobile App, you are now able to create a Payment Reminder, using the "Easy Alert" option. This will send a Push Notification to your phone 3 days prior to the due date, if at least the minimum repayment amount has not yet been received. To set this up, please select "Easy Alerts > Customise Easy Alerts > Credit Card Payment Due".
Hope this helps!