Everyday Plus Account
Our Everyday Plus account allows you to earn Qantas Points or Velocity Points on your average monthly account balances up to $100 000.
There are no establishment or account keeping fees and you can redeem your Qantas Points or Velocity Points for flights, holidays and more. It’s an everyday account that’s more rewarding
Everyday Plus account features{yellow-border}
How are Rewards Points earned on the Everyday Plus account?
You will earn 1 Qantas Point or 1 Velocity Point for every whole amount of $20 making up the average daily balance calculated at the end of each calendar month, paid on balances up to $100 000. To determine the average daily balance for your account, add the closing balance from each day in the month together, and then divide the total by the number of days in that month.
To calculate your average daily balance:
1) Add together the closing balance for each day in the month:
$0 x 2 for the first 2 days of the month before the first deposit was made = 0
+ $2 000 x 2 for the 2 days between the first and second deposit = 4 000
+ $2 400 x 3 for the 3 days where the balance was $2 400 = $7 200
+ $2 373 x 2 for the 2 days between the transaction and salary deposit = $4 746
+ $10 073 x 15 for the 15 days between the salary and the next transaction = $151 095
+ $9 948 x 6 for the final 6 days of the month = $59 688
___________________
= $226 729
2) Divide the total by the number of days in the month (30 in this example using June)
$226 729 / 30
= a daily average balance of $7 557.63
Reward points are awarded on whole amounts of $20, up to balances of $100 000 so in this example the average monthly balance contains 377 whole amounts of $20 being $7 540. No points accrue on the $17.63 remainder. Therefore 377 reward points will be awarded for the month of June.