How do Easy Instalments work?

About Easy Instalments

Who can set up an Easy Instalments plan?

Only the Primary cardholder can set up or request to cancel an Easy Instalments plan.

Will my credit limit change as a result of setting up my Easy Instalments plan?

No, your credit limit will not change and no credit check will be performed when setting up your plan.

Will my interest free period on purchases be affected by my Easy Instalments plan?

You can maintain any interest free period on purchases by paying your Monthly Easy Instalment amount (including any outstanding Monthly Instalments), plus any statement balance not part of an Easy Instalments plan by the Payment Due Date.

Why can't I see a transaction in my ‘Eligible Transactions’ list?

Not all transaction types are eligible for an Easy Instalments plan, this includes balance transfers, cash advances and gambling transactions. Transactions that are currently receiving a promotional rate or have been partially paid off are also not eligible.

Transactions that have cleared within 60 days prior to the offer expiry date will be eligible.

Will my Minimum Monthly Payment repayment amount change?

The calculation to determine your minimum monthly repayment will not change. Your minimum monthly repayment is the greater of 2% of the closing balance (which will include any outstanding Easy Instalments plan balance) or $20.00.

Is there any change to my Application of Payments?

Yes, please refer to the Easy Instalments Terms and Conditions for full disclosure on how your Application of Payments will change.

How will you let me know when my Easy Instalments plan is set up?

You will receive a Bankmail via Bankwest Online Banking within two business days advising whether your Easy Instalments plan has been approved.

What if I don't make a Monthly Instalment?

There is no fee if you do not make your Monthly Instalment. The Monthly Instalment due will be shown on your Card Account Statement. If you miss a Monthly Instalment or do not pay the full amount of the Monthly Instalment by the due date, the outstanding balance of the Eligible Amount will accrue interest at the Easy Instalments Annual Percentage Rate for the Easy Instalments Term.

What if I'm already making regular payments?

Any scheduled payments or periodical payments will not change. You may wish to update any scheduled periodical payments to consider your Monthly Instalment amount. If you currently have a periodical payment set up to pay off your full statement balance, this should be changed if you do not want it to pay off your full Easy Instalments plan

Can I make extra payments to my Easy Instalments plan?

You can make extra payments however, any extra payments will not be applied to your Easy Instalments plan until any non-Easy Instalments balance on your credit card account is cleared first.

How many Easy Instalments plans can I have open on my credit card account?

There is a maximum of 5 Easy Instalments plans that can be opened at any one time per account. If you receive an Easy Instalments special offer, it can only be used for a single transaction and will no longer be available once it has been redeemed.

How can I track my Easy Instalments plans?

You will be able to see details of all your Easy Instalments plans on your account statement, and you will also be able to track your Easy Instalments plans under the ‘Manage my Card’ section of the Bankwest mobile app.

Has a scheduled repayment been set up for me as part of my Easy Instalments plan?

No, if you wish to set up a scheduled payment you can do this via Bankwest Online Banking or the Bankwest mobile app.

Need more help?

If you still need help you can speak to someone from the team.