Frequently asked questions: BOQ Security Token

 

 

What is a BOQ Security Token?

 

A BOQ Security Token is a physical device which provides an additional level of security when transferring funds outside of the bank. The BOQ Security Token is available in two forms, as a physical device and as a soft token app (called BOQ Secure) installed on a smartphone.

 

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Why has BOQ introduced the BOQ Security Token?

Protecting the integrity of our customers’ financial information is our top priority.  As such we have introduced a superior level of online security by way of the BOQ Security Token.

 

The BOQ Security Token provides what is known as two-factor authentication.  Both a physical device (e.g. the token/smartphone) and a remembered identifier (e.g. a PAC) will be needed to authenticate some online transactions.  This means, even if another person obtains your Customer Access Number, UserID (if applicable) and PAC, they will need the BOQ Security Token to be able to make a payment.

 

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If I have a BOQ Security Token, do I need to use it to log on?

The BOQ Security Token will not be required to log on to Internet or Mobile Banking, but will be used to authenticate some transactions where funds are transferred out of the bank.  This will allow you to check account balances and move funds between your own accounts as easily as possible.

 

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Does everyone need to use the BOQ Security Token?

No. The BOQ Security Token will be required as an additional means of authentication if you have selected a Daily limits package with a Pay Anyone of $10,000 or greater.  Note: all Payments File Upload Facility (PFUF) and International/RTGS users must us the BOQ Security Token irrespective of their daily limits.

 

The limits packages and required authentication method are outlined in the table below:

 

Pay anyone daily limit  Authentication method BPAY daily limit
$0 - $0
$2,500 - $10,000
$5,000 - $20,000
$10,000 Token - Application # 1 (One Time Password) $50,000
$15,000 Token - Application # 1 (One Time Password) $100,000
$25,000 Token - Application # 1 (One Time Password) $200,000
$10,000,000 Token - Application # 2 (Transaction Signing) $10,000,000

 

Note: Where you decrease your daily limit to a limit which does not require the use of a token it will be necessary to authenticate the request by entering a One Time Password generated by 'Application #1' from your token.

 

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How do I get a BOQ Security Token?

You can collect a physical BOQ Security Token from any BOQ branch. The BOQ Security Tokens are not branch specific so they do not need to be collected from the branch where your account is held. You can choose whichever BOQ branch is most convenient to you.

 

 

If you would like to use the soft token app (BOQ Secure) you will need to do one of the following:

 

  • if you currently use a physical BOQ Security Token and wish to swap to BOQ Secure, please call our Customer Contact Centre 24 hours a day, 7 days a week on 1300 55 72 72.

OR

  • if you wish to use a BOQ Security Token for the first time and you would prefer to use BOQ Secure, you will need to send a Secure Mail Message (via Internet Banking) advising that you would like to use BOQ Secure to authenticate your Online Banking transactions.

 

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Is there a cost for a new BOQ Security Token?

The first BOQ Security Token will be issued free of charge for customers where there is only one user of the account. Where additional tokens are required for signatories to an account, a second BOQ Security token will be issued free of charge (this includes BOQ Security Tokens for delegated users where the delegated user is a signatory on the account). 

 

A fee of $50 per token will be charged for:

 

 

  • additional tokens (if your account has more than two users)
  • BOQ Security Tokens required by any delegated users who are not signatories to the account
  • replacement tokens where the originally issued token is lost or damaged (only applicable to the physical BOQ Security Token)

Any defective BOQ Security Tokens will be replaced free of charge (only applicable to the physical BOQ Security Token). The replacement fee will also be waived if you report your BOQ Security Token is stolen and you lodge a police report (only applicable to the physical BOQ Security Token).
 
The same fees and conditions apply for both business and personal banking customers.

 

 

  

How do I use the physical BOQ Security Token?

When completing transactions using Internet or Mobile Banking, instructions on the screen may prompt you to initiate one of two types of token applications using the BOQ Security Token:

 

  • Token Application #1 (One Time Password) – this issues a unique 8 digit authentication code which customers will enter into Internet or Mobile Banking when prompted.
  • Token Application #2 (Transaction Signing) – the customer will be required to enter information about their transaction into the token.  This will be used by the token to generate an authentication code uniquely tied to that transaction, which customers will then enter into Internet or Mobile Banking when prompted.

 

The animated demonstration below shows how you will use the BOQ Security Token.  If the animation is running, wait until the end and click on Restart:

 

 

Macromedia Flash 

This demo requires flash player, you can download flash player for free from adobe.com.

 

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How do I use the BOQ Secure Token?

When completing transactions using Internet or Mobile Banking, instructions on the screen may prompt you to initiate one of two types of token applications using the BOQ Security Token:

 

  • Token Application #1 (One Time Password) – this issues a unique 8 digit authentication code which customers will enter into Internet or Mobile Banking when prompted.
  • Token Application #2 (Transaction Signing) – the customer will be required to enter information about their transaction into the token.  This will be used by the token to generate an authentication code uniquely tied to that transaction, which customers will then enter into Internet or Mobile Banking when prompted.

 

The video below shows how you will activate and use the BOQ Secure Token.

 

 

 

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How does the BOQ Security Token work?

The physical BOQ Security Token is not a wireless device.  It does not emit any radio waves, frequencies or infrared. In the same way, the BOQ Secure app does not communicate in any way with any other device or service and once installed on a smartphone, will work without any network reception.

 

The BOQ Security Token works by generating a password that continually changes. Based on information registered with the Bank's central Token Management System when your BOQ Security Token is assigned, it is possible to match these passwords with your Online Banking profile when you transact online. 

 

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Do I need to install anything on my computer to use the physical BOQ Security Token?

No.  The BOQ Security Token can be used with any computer and no special software is required.

 

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Do I need to install anything on my smartphone to use the BOQ Secure soft token app?

Yes. You will need to install the BOQ Secure app on your compatible smartphone.

 

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Which smartphone devices are compatible with BOQ Secure?

BOQ Secure is available on any smartphone device using the following operating systems:

 

  • iOS 7.1 or later (compatible with iPhone, iPad and iPod touch)
  • Android 2.3.3 or later
  • Window Phone 8 or later 

 

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If I forget my PIN for my BOQ Security Token, how do I reset it?  

Please either call the Customer Contact Centre 24 hours a day, 7 days a week on 1300 55 72 72, alternatively visit your nearest BOQ branch.

 

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If I have a BOQ Security Token and I increase my Pay Anyone Limit, do I need to be assigned with a new BOQ Security Token? 

No.  Once a BOQ Security Token has been issued you may change your Daily Limit package at any time.  As long as your requested limit is above $10,000 or you are registered for Payment File Upload Facility (PFUF) or International/RTGS, then the BOQ Security Token will be required. 

 

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If I close my account or decrease my Pay Anyone limit to a level that doesn't require a token, must I return the Token to the branch?

It would be appreciated if the BOQ Security Token was returned. If you no longer require the BOQ Secure app, it can simply be deleted from your smartphone.

 

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Why is the word "disabled" displayed on the physical BOQ Security Token?

A physical token will display the word "disabled" when the battery is low.  Please visit any BOQ branch to obtain a replacement token.

 

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Can I add more than one token to my BOQ Secure app?

Yes. If you have access to multiple Online Banking profiles and require the use of more than one BOQ Security Token, you can activate multiple BOQ Secure tokens within the app. You will then be required to choose the required token when you open BOQ Secure on your smartphone.

 

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Is there a way to rename tokens within BOQ Secure to make them easier to identify?

Yes. When you choose the required token after opening the BOQ Secure app, tap the settings icon and choose Rename BOQ Secure Token. The next time you open the BOQ Secure app you will see your customised token name rather than the token serial number.

 

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If your question was not answered by this FAQ or you have other questions regarding our Internet Banking, please contact our Customer Contact Centre on 1300 55 72 72 (+617 3336 2420 if you are calling from outside Australia) or send us an email.