Reviewer Photos & Videos
This Bank is terrible when it comes to transferring your money to your other account to another bank account! It takes over 48 hours and I don't think that is right or correct! It should be instant like every other bank!!!
The app logged me out in the middle of transactions etc. Logged me out over and over to the point where I had to go into a branch to reset the password. You can’t see a list of debits and credit transactions set out at all.
Keep you in the dark, interest calculation error
My main gripe with BOQ is their lack of providing information to account holders about interest rates. Other banks that I have dealt with have always advised customers of interest rate changes, but BOQ has never done so in the year I have had an account with them. I check the interest calculation on my account each month, but if there has been an interest rate change I generally need to actually contact them to find out WHEN the rate changed as that information is not even available without asking.
One month I found that the interest they h...
Good communication is the key to loyalty
I have banked with numerous banks in my lifetime, but BOQ is a prime candidate for the worst. Like other reviewers I was attracted by the savings account interest rate, but over the past year this has been dramatically eroded. I know that banks are not legislated to inform their customers of rate changes, but it would be a courtesy to send an email and announce the new rates so that it isn't a surprise on the first day of the month when interest is paid. I don't feel a trace of loyalty when I am treated like a fool.
Because of the rate changes...I have shopped around and found a better alternative. I then discovered that I can only withdraw a maximum of $5,000 per day from BOQ as the system used to increase daily limits requires an app that is incompatible with my smart phone. The only alternative is travelling to the nearest branch which is 85 km away. The State is currently in lockdown due to COVID-19 and I doubt if the Police would be impressed if I told them I was travelling 170 km to make a bank withdrawal. I have never experienced this rigamarole with any other bank, where a password is normally sufficient proof to manage your own funds. I have endured the clunky internet banking website and the lack of PayID for the past 13 months in return for a decent interest rate, but now that is no longer available I can't wait to leave. I just wish it wasn't so arduous.
- Verified customer
Huge rate drop on fasttrack no notice horrible internet banking app and always issues logging in. 2/10
Another rate drop on the fast track?? No notice of course.
Does boq not want customers or something?
Heratage bank 2.2%!
Well BOQ has lost my family as a customer all together we have initiated refinancing our properties with a better smarter money saving bank ...BOQ will end up like Masters at this point I feel like they are winding up or something in my opinion. I don’t feel safe having my saving with BOQ. The Internet banking is always down whenever works it’s always closed for maintenance and the application is extremely basic Bye bye
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.
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.
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.
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 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.
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!!!
BOQ are soooooooo slow processing anything- it takes forever for payments to go through..
So unless you like living in the dark ages don't use BOQ
Online is useless, you end up needing to physically go in to the bank for everything..
This bank is descending into chaos, just like their share price
I have been a BOQ customer and shareholder, for many years. Over the last 12 to 18 months their online service has gone to terrible, and their business is getting worse, just like their share price. While I like my local branch, their push this button, push that button, wait we are really busy routine, a complete failure and a reflection on not wanting to listen. Well I will sell my shares once they stop eroding in value and I will kick them down the road shortly. Local branch is 10 out of 10, their online phone support is a zero out of 10..Wak...e up to yourselves, and stop trying to price gauge my credit card with made up fees. December 19th 2019 Update: BOQ have just gone from sad, to bad. and now its goodbye!! I have been a happy customer of BOQ for many years. I am a shareholder and have my SMSF in BOQ and switched to their credit card 18 months ago. In the last 6 months their rubbish false credit card charges just dont stop. Small amounts but unwarranted. The brach normally refund these but today, well today I was advised I didnt understand their statement periods. Rubbish Im an expert on you and you make it up on the run. So its goodbye I will sell my shares, rose my SMSF hand you back your credit card, when it suits me , but soon. And this is where i get you back, online...GOODBYE you have gone from good to sad to now bad...
OMG Shocking Customer Service
These guys honestly, wait on hold for 40 minutes and have to hang up. Speak to someone regarding transferring money OS and they say it costs the same as a normal transfer and then get slugged $20. Then get a charge back and they keep the $20. Shocking, will be shifting my 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.....!!
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.