Making sense of regular payments

What is a Regular Payment? 

Regular Payments can be either a Recurring Payment or an Instalment Payment charged to your credit card or BOQ Visa debit card.  A Regular Payment represents an agreement between you (the cardholder) and a company or organisation which you pre-authorise to bill your card account at predetermined intervals (e.g. monthly or quarterly) or at intervals as agreed by you.  The amount may differ or be the same for each transaction.


For example: You may ask your local gymnasium to charge your monthly gym membership fee to your card each month.




You may have purchased a new television from your local appliance store and are being billed by the merchant in subsequent multiple periods.


What are the benefits of Regular Payments? 

There are many benefits for cardholders who set up regular payments including:

  1. Ensures timely payments to the company or organisation
  2. Saves you time as the payment is processed automatically
  3. Saves you money as you do not have to pay for cheques, money transfers or postage, nor will you be liable for late fees.


Customer Responsibilities & Obligations 

Regular payment arrangements are an agreement between you (the cardholder) and the company or organisation.  You should keep a record of all regular payment arrangements you have established and store in a safe place.  The following template can be used for recording your regular payment arrangements


You are responsible for notifying the company or organisation when your account details change, including a change in card number and/or change of card expiry date.  Until you notify the company or organisation, BOQ is required to process transactions from the merchant.  You can generate a change in account details letter to your merchant.  We recommend you keep a copy of any change in account details letter sent to your merchant and your earlier regular payment agreements.  This correspondence will be required when your company or organisation does not comply to your request in a timely manner and you decide to dispute an incorrectly charged Regular Payment.


Customer Rights to Dispute 

Any issues with your Regular Payments, including the failure of the company or organisation to act on a change in account details advice, should be taken up directly with the company or organisation first.  Should further assistance be required to resolve an issue between yourself and a merchant, contact your local BOQ Branch.