How do Easy Instalments work?

We’ve got answers to common questions about Easy Instalments plans.

General FAQs

What’s an Easy Instalments plan?

It's a payment plan that lets you pay off an eligible big purchase or large credit card balance in manageable monthly repayments.​

Who can set up an Easy Instalments plan?

Only the primary cardholder can set up a plan after we've offered it to them – they'll also be able to cancel it.

How do I receive an Easy Instalment offer?

If you're the primary cardholder, you'll receive an offer through the Bankwest App.

How many Easy Instalments plans can I have at a time?

You can have up to five plans per account.

Will a plan affect my interest free days on purchases?

To keep any interest free days on purchases, you’ll need to pay your monthly instalment amount (including any that are outstanding), plus any statement balance or balance transfer amount not on an Easy Instalments plan, by your due date.

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 email you within two business days to let you know whether your plan has been approved. We’ll also send you a Bankmail in online banking.

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

There’s no obligation to make your monthly Easy Instalments payment, but you’ll need to pay the minimum monthly payment for your credit card (found on your statement) to avoid a late payment fee.

What if I already have repeating payments set up?

Any repeating or scheduled payments you have won’t change. If you want, you can update your payments to include your instalments.

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 Easy Instalments plan?

You can track your plan by tapping on your credit card in the accounts list, then going to the ‘manage’ tab. You’ll also see your plan details on your monthly statement.

Can I edit or cancel my Easy Instalments plan in the Bankwest App?

You can't edit an existing plan here, but you can cancel it by getting in touch with us.

Transaction plan FAQs

Why can’t I see a transaction in my list of eligible transactions?

Not all transactions are eligible – things like balance transfers, cash advances and gambling transactions can’t be put on a plan.

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 transaction has processed.

Can I use my transaction plan offer for more than one transaction?

No, each offer can only be used for one transaction. Once you redeem the offer, it can’t be used again.

Learn more about Easy Instalments Transaction Plans

Balance plan FAQs

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.