How do Easy Instalments work?

An Easy Instalments plan lets you pay off an eligible purchase or credit card balance in manageable monthly instalments. Here are some answers to common questions.

General FAQs

Instalment plans and how they work



Who can set up an Easy Instalments plan and how is it set up?

Only the primary cardholder can be eligible to set up a plan – which they can do through the 'Offers and options' section of the Bankwest App. You won't be able to apply for an Easy Instalments plan if you don't meet our eligibility criteria (e.g. if you've exceeded your limit or if you're in default).


How many plans can I have at a time?

You can have up to five purchase plans on each credit card account at any one time. We’ll let you know if other plan options become available to you.


Will a plan affect my interest free days on everyday purchases?

To keep your interest free days, you’ll need to pay the following by the payment due date:

  • Your monthly instalment amount (including any instalment amounts that are outstanding)
  • Any closing balance not part of an Easy Instalments plan
  • Any balance owing on balance transfers not on 0% p.a.

Will my credit limit change?

No, your credit limit won’t change if you set up an Easy Instalments plan.


How will I know when my plan is set up?

We'll send you an email within two business days regarding your Bankmail, where the details of your plan will be confirmed.


What happens if I miss or can’t make my instalment plan payment?

There’s no obligation to make your monthly instalment payment, but you’ll need to make the minimum monthly payment for your credit card (found on your statement) to avoid a late payment fee. Any instalments that you don't pay by the end of the plan term will revert to your standard purchase rate.


What if I already have repeated payments set up?

Any repeating or scheduled payments you have won’t change automatically, but you can update them to include your instalments if you want. If you've chosen the full closing balance payment option for your repeating or scheduled payments, you’ll need to update them otherwise the easy instalment plan amount will also be paid off. For further guidance, message us in the Bankwest App.


How will you apply payments to my credit card?

When you apply for an Easy Instalments plan, you’re requesting we apply your credit card payments first towards your monthly instalment amount (including any that are outstanding). This means any other amounts that attract a higher interest rate (like a cash advance and any purchase not on a plan) may be repaid later, which could result in you paying higher interest charges.


Can I make extra payments to my plan?

You can, but if you have any balance that’s not on a plan, your payments will go towards paying that down first.


How can I track my plan and know when to make my payments?

In the Bankwest App, just tap on your credit card from your ‘Accounts’ screen and go to the ‘Manage’ tab. This will show you the plan repayment options, plus the due dates for your payments. If you want more info about your existing plans on that card, tap 'Track Easy Instalments'.

Remember, you’ll also see your plan details on your monthly statement.


What if I choose an eligible purchase that has already appeared on my issued statement?

If the purchase you've chosen for your Easy Instalment plan is in your last credit card statement, and you haven't paid the closing balance for that statement, make sure you deduct that Easy Instalment plan amount from your closing balance when paying it off to be able to keep your plan active.

Purchase plan FAQs

Purchase plans – the specifics


Why can’t I see a purchase in my list of eligible purchases?

Not all purchases are eligible – things like balance transfers, cash advances, purchases on a current promotional offer, gambling transactions and purchases made more than 30 days prior can’t be put on a plan. Keep in mind, only the full purchase amount can be put on a plan. If you've started paying back your credit card, you'll only be able to choose purchases that are less than your outstanding balance. Remember, your transactions will appear in order from newest to oldest.

If you’ve recently made a purchase, it might still be marked as ‘authorisation only’, so it’s best to check back in once the purchase has been fully processed.


Can I set up a plan for more than one purchase?

Yes, you can have up to five purchase plans on a credit card account at any one time. Once the plan term expires for one of the purchase plans, you can set up a new one once it re-appears in your 'Offers and options' section. Keep in mind – a plan term doesn’t shorten if you repay your plan sooner.

Balance plan FAQs

Balance plans – the specifics


How could an Easy Instalments Balance Plan help me pay off my credit card?

The portion of your purchase balance that you put on the plan will be charged at a lower interest rate, so you’ll pay less interest on that amount for the life of the plan.


What’s a purchase balance?

It’s the combination of purchases and interest currently on your credit card. It doesn’t include balance transfers or cash advances.


What happens to the purchase balance that isn’t on my Easy Instalments Balance Plan?

This will accrue interest at your credit card’s current purchase rate subject to any interest free period on purchases which may apply.

Learn more about Easy Instalments Balance Plans.

Need help setting up or managing your plan?

Message us in the app or call us – we’re available 24/7.