BankWest offers five percent on transaction accounts 10 October 2007 3:55PM John Kavanagh To coincide with the start of its branch expansion BankWest has come up with another aggressive retail product offering - a transaction account that offers five per cent interest. The account has no minimum balance requirement, there are no administration fees and no transaction fees, apart from other bank ATM fees. The account requires a minimum deposit of $2,000 a month. No interest is paid on balances over $5,000. One quirk is that eligibility depends on satisfying BankWest's lending criteria. Good cross-sell leads only need apply.