Outdated technology and unhelpful customer service
My experience is almost identical to Adibabi. My wife and I got an account when the interest rates were higher. The interest rates have now dropped, but we're not too concerned about this. Rates are going to change. What is frustrating is the terrible technology and sometimes unhelpful customer service. We could not initially create an account online because my wife's name has a hyphen in it. Fortunately we found a helpful customer service representative who allowed us to print a form, fill it out, take photos of it and email it back. I then fo...und out that our interest has been taxed at 47%, the highest marginal tax rate of 45% plus the 2% Medicare levy. This is frustrating since they never asked for our TFNs. I then emailed them both my TFN and my wife's TFN. They said that they couldn't accept my wife's TFN and that she needed to email it to them herself. OK, fine, fair enough. However, my wife cannot access her online profile. They never sent her the letter she needs in the mail or it got lost. Why they would send this via snail mail and not email in the first place, I don't know. My wife decided to log in to my account and email them her TFN that way. They then replied to me saying it is a breach of the Terms and Conditions to log in to another user's profile. What other option did they give us? Don't bother with Bank of Queensland. It's not worth the effort. It looks like the only way to get things done is to go into a branch and that seems entirely unnecessary in 2020.
I'M OUT OF HERE !!
Opened an Online Account 27/5 , Interest Rate advertised was 2.0%.
Received Interest for June on 2nd July, rate had been dropped to 1.85%, AND almost 50% of the Interest was witheld for Tax purposes. I was never asked during the Account Application for any TFNs, and was never advised that there had been a drop in Interest Rate.
No other Banks that I deal with had dropped their Rates !!
This month they have again dropped the Interest Rate to 1.65% !!! The current Interest Rate is not discoverable in the online app.
After they advised the reas...
Awful savings account. Avoid at all costs. Cancelled within two months
Opened the account for two months but had to cancelled after failing to receive bonus interest for two consecutive months as well as the awful experience using their banking app.
Good home loan options but internet banking platform is from 2010.
Moved to BOQ not too long ago when I needed to refinance. No issues with the refinance, rates were good and their lending limits are far better than the big 4. The biggest issues I have with BOQ is their internet banking platform. It’s functions, design and layout looks like it was designed 10 years ago. Also you can’t see your home loan details, for example I can’t see what my current variable rate is or my re-draw availability. Needs a lot of work to catch up with other banks.
Misleading or deceptive
I have only posted for positive experience before, unfortunately, this is my first negative post.
To backup Prapha who posted here previously, BOQ's ad is misleading or deceptive.
It says "Your account will earn the Base Rate in the month that you open it and any month you don't meet the Bonus Criteria" in the website (https://www.boq.com.au/personal/banking/savings-and-term-deposits/fast-track-saver-account).
I opened the accounts (Day2Day Plus & Fast Track Saver Account) in April and deposited funds to meet the bonus criteria expecting to ear...
Can’t believe how bad this service is
Really bad customer service. A transaction for a laptop I have waited for a long time for - could not be processed. There is no issue with funds or card. Can’t get through to them at all
Doesn't have the technology and Kelly at geebung says BOQ doesn't know if or when
I have been a customer for nearly 25 years, a quarter of a century... They are rude and don't have technology time for me to and look for a new bank.
Terrible experience never pay up as promised
Bank stated 2.15% high interest rate each month done everything they have ask to meet the requirement but they keep making excuses to pay up properly when transfers thousands of dollars they say it will be pay the month after next month so in next 2 month and when I change to a different bank no interest was ever paid the next month after even tho it was transfer half way through that month. Very annoying poor service bunch of liars only want to make money if you buy never want to give like promise never again will I go back to this bank. Online banking is always down very simple function and it's 2020 and no Osko payment. Avoid the bank if you can.
One of the most outdated mobile banking services I've ever come across.
I was with this bank for nearly two years. Every-time I logged in to the phone app it asks for you full account username and password, there's no option to change it to a pin. Sometimes it just forgot my account username so I would need to find and type it manually, it wouldn't even allow me to copy and paste.
The app is outdated and basically a website that is so difficult to use if you want to make a simple account transfer or try to pay an external bank account. I thought since the interest is higher than most savings accounts it would be worth it, but now they's introduced a new policy that you have to transfer money out of the account 5 times a month which I don't think suits what a savings account should do.
Outrages and disgusting!
After waiting 35 minutes online to update my personal details, the consultant said, she cannot help,me anymore! I gave her all my details including my mother's maiden name, my balance and all my details!!
As I only use this account for online transactions, I couldn't remember the last transaction amount!
I think this bank is a disgrace !!
The middle of a coronavirus outbreak ,I am forced to go to a branch without a car to update my address!
Account will be closed!
Shocking service anyways, not gonna miss it! You guys should not be in business at all
- Verified customer
Unbelievable level of incompetency
I've been with BoQ for 12 years and its only recently they've become argumentative and adversarial with small requests. One being the issuing of e-statements of which the last time I asked was an inconvenience and also inconsistent as a relative had asked the same request at the same hour of day and received their statement within hours, me? 14 working days. The latest request they said to go to a branch and pay the fee to print them out, we are not able to do it here (despite doing it for the past 5 years like this). The other replied saying they'll be issuing them on the 8th of March, of which I received it but my relative didn't! That day i opened an account with another bank and transferred my savings.
The app is hopeless for monitoring account balances
I've always loved BOQ until recently. It is so hard ro monitor my bank balance as debits don't appear quickly. I check knowing that I have direct debits about to go through, it looks like I have plenty to cover, then I check a few days later and the debits aren't showing up yet or the balance is lower than I expected.
AVOID AT ALL COSTS
I banked with BOQ for just over two years as a personal customer.
Transfers are slow, the internet banking facility belongs in the 90s, and staff are uninterested in providing decent customer service. Getting hold of someone in the contact centre means well over twenty minutes on the phone waiting.
Take your money elsewhere or you'll regret it.
Poor internet banking & services
I've been with this bank for 10+ years and their internet banking has not improved, app is terribly designed and very minimal in function, there is no plans to integrate phone wallets ie. Apple Pay, and when I just called up to change some account details they couldn't 'verify who I was' (I have multiple accounts and I was logged in on my own computer anyway at home). eStatements also have no address on them, and you have to go into a branch (not open on weekends) to get one with your address. While the people on the customer service calls are nice enough, the processes are extremely frustrating. Changing banks now.
Online platform crap!
Got cracked twice... both times had to go to branch to clear things up.
Then tried to login again last 2 days, again rejected password.... called no answer for > 30 min. Bad!!
Online banking overseas do not work
If you're overseas don't expect the card to be working, for every transaction you need to call the custumer service center which is not a free number (off course), third world country service in the 21st century, would not recommend.
only bank in the world not to have a credit card balance amount and due date on the app. actually they don't even have a app it's only the desktop version on a mobile phone. apart from that they more expensive than the big 4 banks on a long term.
avoid at any cost even if it is the last bank in the whole world.
Very poor app and website, product performance no longer competitive
Was initially attracted by their competitive interest rate on the high interest savings account. But within months the rates have fallen and are now middle of the pack.
The website and mobile app are very bad. The app is basically a mobile website, it lacks all the functionality most other banking apps offer. The website itself does not provide anywhere near enough information about account status, interest rates, etc. There is no way to control your cards either such as pin resets.
They recently changed their conditions on their savings account, requiring multiple withdrawals from your savings account to meet bonus interest criteria. This is the last straw for me, I will be leaving this bank soon.
Worst mobile banking app award
Its 2019 and my mobile banking app is 13 characters long. No quick login, no shorter pins available, the mobile app is still website. User experience is non existent. Made the switch to cba and realised how ridiculous this bank is
A bank that does not believe their customers
My BOQ online banking was compromised via my phone being hacked. It was nearly $4000 transaction from my credit card account.
When I informed BOQ after finally getting through to their call centre they said they would look into it
It took them a week to get back to me and when BOQ did their fraud department told me I needed to Get a police report and a letter from my mobile provider In regards to my phone being hacked. I was Also requested to deliver said documents in person to a BOQ branch.
Another week after doing all that I called them up
To see if they had what they needed.
They then tell...Me they are now reviewing my dispute and it will take 4-8 weeks for a resolution. So in summary BOQ dont believe their customers who have been robbed, BOQ make their customers get evidence and then BOQ are willing to make you wait up till 2 months to get your stolen money back NOT A PEOPLE BANK!!!
Questions & Answers
I have a bank of Queensland account how long will it take to transfer from my account to say a commwealth bank?
Assuming you are talking about a savings account (mortgages are much much more difficult to change). You will need to open new CBA accounts. Should be same day for a savings account (if you meet a Manager). Then you need to transfer money from BoQ to CBA ... can do this immediately if you have internet access. Then you are right to close down the B o Q account. :) So, if you have internet access and you can meet a CBA manager, and you are moving a savings account ... all the same day !
I submitted an application on line to open a transaction and linked savings account and apart from an automated email telling me that BOQ will be in touch when it is open after 2 full working days I have heard nothing since. Any other bank does an online identification and account is Immediately functional online. Why can’t BOQ have an account open and functioning yet after 2 working days?
Call them tomorrow morning and ask them. My experience. With their online applications proved very slow. Best to go into a branch and new account applications are active within minutes of personally handing completed forms to a member of staff.
BOQ takes forever to get the simplest of tasks done. They also apparently have internal departments that cannot communicate with each other. The only way I have managed to get them to do anything is to ring them multiple times and use extremely strong language until someone decides to do their job.
Thanks Jeff and Ash. Working full time it has been hard to go into a branch. After calling them I finally received an acknowledgment email yesterday saying my account is now open and they have posted me information on how to access internet banking and also information of my account details (I still don’t know account numbers, BSB etc yet!). They said I should receive that and my card in another 7 to 10 working days.....! (“Trust me, the details/cheque is in the mail!!). How does this bank ever win customers with their appalling service?? I think I will now just walk away and think myself lucky that they demonstrated up front how terrible their service is before I gave them any money. Is it possible to love a bank? Possibly, but not this one.....!!
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