Frequently asked questions: Transfers
What are the cut off times for transfers between my Bank of Queensland accounts?
Different cut off times apply depending on what type of transfer you request. The following table will assist you to understand when your transfer will be credited to the nominated To account.
From Account Type
|
To Account Type
|
When was the request made
|
When will payment be credited to nominated To account
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Immediately
|
By next business day
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By 2nd business day after transaction
|
Account**
|
Account**
|
Any time regardless of whether that day is a business day* or not
|
|
|
|
Credit Card
|
Account**
|
Before 6.30 p.m. (AEST) on a business day*
|
|
|
|
Credit Card
|
Account**
|
On a non-business day* or after 6.30 p.m. (AEST) on a business day*
|
|
|
|
Account**
|
Credit Card
|
Before 6.30 p.m. (AEST) on a business day*
|
|
|
|
Account**
|
Credit Card
|
On a non-business day* or after 6.30 p.m. (AEST) on a business day*
|
|
|
|
Credit Card
|
Credit Card
|
Before 6.30 p.m. (AEST) on a business day*
|
|
|
|
Credit Card
|
Credit Card
|
On a non-business day* or after 6.30 p.m. (AEST) on a business day*
|
|
|
|
* A business day is defined as any day on which Bank of Queensland head office is open for business that is also a day on which banks in Melbourne or Sydney are able to effect settlement through Reserve Bank of Australia.
** Account means a Transaction Account, Savings Account, Investment Account, Loan Account, Line of Credit Account, Business Account, Cheque Account, or another non-credit card account.
How is the available balance for loan redraws calculated?
The balance is calculated up to your last repayment. You may redraw any amounts that have been repaid to your account in excess of the total of your minimum monthly repayments.
If I perform a loan redraw today, what do I have to do about the next repayment?
Your minimum monthly repayment is due as normal on the next due date. Please note that the Bank’s system operates on a monthly basis. If you make your repayments weekly or fortnightly, those payments made each week or fortnight before the monthly due date will appear to be amounts available for redraw. You must take this into account when redrawing funds and must ensure that you leave enough funds in your loan account to meet your next minimum monthly repayment.
If your question is not answered by these FAQs or you have other questions regarding Bank of Queensland Internet Banking, please contact our Customer Contact Centre on 1300 55 72 72 (+617 3336 2420 if you are calling from outside Australia) or email us.