Switching to BOQ

Moving your regular payments over to your BOQ account is easy! 

All those direct debits and credits set up on your previous bank accounts can be a pain to change. We’ve made it easy! 

Just complete one form, choose option 1 and we’ll take care of the rest! 

Or if you’d like a little more control, choose option 2.  

We’ll also help you with your salary credit. How easy does that sound!? 

  

To take us up on this offer complete these 3 steps: 

 

1. Open your personal BOQ transaction account. 

 

Do this here if you haven’t already.

 

2. Switch your payments to BOQ.

For Personal Customers * 

Complete this Switching to BOQ Form and return to your local branch. Check out our regular payments FAQ for details on managing your Regular Payments.

You can choose… 

Option 1: Switch all regular payments. 

  • We’ll obtain a list of your regular debits and credits (Regular Payments List), performed over the previous 13 months, from your previous financial institution (this can take up to 5 business days) 
  • Once the list is provided we’ll send notifications to all the Debit Users identified on the Regular Payments List (actioned within 2 days of receiving the list)  
  • A letter will be sent to you with a list of the switched payments for your records 

Option 2: Request the Regular Payments List only. 

  • We’ll obtain a list of your regular debits and credits (Regular Payments List), performed over the previous 13 months, from your previous financial institution (this can take up to 5 business days)
  • Once the list is provided we’ll send a copy of the list to your local branch for collection.
  • Speak to your branch about how we can help further.

  

Complete this Salary Transfer Request Form and provide to your employer to let them know your account’s changed.  

  

For Business Customers 

Use this simple letter template which can be completed and provided to your current direct debtors

 

3. Your account switching is done.

 

It can take 4 to 6 weeks for all the payments to change over (if you chose option 1), so we recommend keeping sufficient funds in your previous account to cover these payments in the meantime.

 

Important Information 

*If choosing option 1 on the Switching Regular Payments Form, BOQ will transfer all direct debits and direct credits to BOQ. If you would like a list of regular payments, but don’t wish BOQ to notify any Debit Users of your account change, please choose option 2 on the form. If you chose option 2, on receipt of the list you may ask BOQ to assist in notifying all or some Debit Users through a Notice of Variation Form, available in branch, or you may choose to contact each company/business directly. 

  

The switching process will notify the Debit User of the account change, however they are not obligated to action this change. Some Debit Users will not accept this form of notification (such as some government agencies) or are unable to be contacted. Therefore we recommend if the change has not been actioned within 4-6weeks of submitting this request, you contact the company/business directly to implement the change.  

  

Though the forms provided can help with the majority of regular payments there are some that can be missed in this process. These can include: 

 

  • Regular transfers set up on the customer’s old financial institution or electronic banking (such as rent) 
  • Payments set up using your previous debit or credit card details (such as Netflix).  

For these payments we also suggest the customer contact each company/business directly.