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Outdated technology and unhelpful customer service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.
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
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.
Worst bank ever to deal with!
1) On the very first day to open an new account, was told to make an appointment and come back later (too busy).
2) On the appointment day, was told to come back some other time...... still too busy....
3) Finally the new account is open, and yet never receive the bank card.
4) Two weeks later no card, call to report missing card.
I tried to increase my with drawl amount for BOQ Fast track and Day to Day accounts as limits were low 5k. Had only deposited $2 at this point but wanted to be ready in case I needed to withdraw.
Applied for tier 6 with drawl amount and was told I need to go to local branch for Token. Went there and was told NO you need to down load THE app. Tier 6 approved but still need Token for withdrawl.
Down loaded BOQ app but there is No facility to get the Token.
Rang BOQ 20mins waiting to talk to someone, then spend 5mins giving details for verificati...
Great personal customer service, but, lack of web-based Customer Service software
Recently applied an account online, hoping to benefit from a higher saving interest rate. It is definitely slower than other banks. It took 2 days to finalise an account. Comparing to other banks, bank of Queensland definitely need to improve their website and online systems. Pin number must be changed at a branch, kind of old style!! With less branches, a bank should promote an advanced/reliable online service.
Their customer service at newtown-sydney branch was helpful via phone. They were reliable and professional.
The reviews are dark a...
Worst bank in terms of service, web/app, interface and clarity of PDS
Opened up some accounts with BOQ in January.
First thing I noticed is that the website and the application are terrible. Re not user-friendly and make things really complicated.
Second thing is that their PDS is not clear on their reverse Charges account. I believe it is ambiguous to be misleading and deceptive. The PDS states that if you have an account balance of $2000, you will pay no fee. BoQ interpretation is that it has to be for the full month, which is not stated in the PDS. What is stated in the PDS is that there is no bonus will be ...payed if you have not maintained $2000 in the account for a full month. This astrix is only marked on the account bonus of the PDS and not the monthly fee. Third, their website states you can close an account by calling them, which they refuse to do and say I have to come into a bank. This is the worst bank I have ever deal with and I have accounts with uBank, BankWest, CBA, and have previously had accounts with INGDirect. I will be closing my accounts when I can get to the bank. I would not recommend BoQ to anyone and that is the only ever time that have said I would not recommend a 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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