Reverse Charges Account®
Not just a fee free bank account, our everyday transaction account can actually pay you for banking with us; plus you have easy access and unlimited free Bank of Queensland withdrawals.
Features and benefits
- a fee free bank account with unlimited free Bank of Queensland withdrawals including in-branch, ATM, Internet Banking, EasyPhone banking, EFTPOS, cheque book and BPAY*
- regular statements
- interest calculated daily and paid quarterly
- flexible overdraft facility available
- fee exemptions for children, students and home loan customers
- transfer orders are free to any other Bank of Queensland accounts
*Fees apply to Multi Payment, other Bank ATMs, Bank@Post withdrawals and transfers to accounts at other Australian financial institutions.
More features and benefits
With a minimum monthly balance of $2,000, it operates as a fee free bank account
- No monthly account maintenance fee
- We'll actually pay you a fee for your business
With a minimum monthly balance below $2,000
- A full service transaction account with a flat monthly account maintenance fee
Flexible overdraft facility
For many people there will be times when funds are tight. That’s the time to consider the flexibility provided by our Personal Overdraft linked to your Reverse Charges Account®. It is a great way to keep your cash flow going. Once your overdraft is approved you can overdraw your Reverse Charges Account® up to the approved limit at any time. Some fees apply to your transaction account for the extra convenience of a Personal Overdraft – all the details are in our Personal Banking Guide to Fees and Charges on our Terms and Conditions page.
Link to a high-interest WebSavings Account®
Link to the online savings account with high interest and easy access to maximise your savings.
Interest rates
Interest is calculated daily and paid quarterly to your transaction account
Amount $ | Interest Rate |
|---|
1 and over | 0.01% p.a. |
Fees and charges
Item | Fee/charge | Fee/charge |
|---|
Minimum monthly balance | Less than $2,000 | $2,000 and over |
Monthly Account Maintenance Fee | $4.00 | Nil |
Bonus payment* | Nil | $2.00 |
Teller withdrawals | Unlimited free |
Cheques written | Unlimited free |
ATM: |
Bank of Queensland ATM/EFTPOS withdrawals/transfers | Unlimited free |
Bank of Queensland ATM Balance Enquiry | All Free |
| Other bank ATM withdrawal/balance enquiry^ | $2.00 each |
Bank@Post withdrawals | $2.00 each |
EasyPhone Banking: |
Funds transfer and BPAY | Unlimited free |
Funds transfer to third party Bank of Queensland accounts | Unlimited free |
Balance Enquiry
Transaction History Enquiry | All Free |
Internet Banking: |
Funds transfer and BPAY | Unlimited free |
Single Pay Anyone or
Funds transfer to Third Party Bank of Queensland accounts | Unlimited free |
Multi Payment | $1.30 for up to 10 payments (then $0.15 for each additional transactions) |
Balance Enquiry
Transaction History Enquiry | All Free |
*Bonus payment is paid to accounts that maintain a minimum monthly balance of $2,000 for the full month. Accounts must be opened for a full calendar month to qualify for the Bonus payment. The Bonus will be paid on the first working day of the following month. Refer to Deposit Products Terms and Conditions for General Tax Information.
^The other bank ATM fee is currently being waived.
How to apply
You can apply online via BOQApply for a Reverse Charges Account® or find out what information we need from you to open your fee free bank account by visiting the nearest branch or calling a friendly customer service consultant on 1300 55 72 72.
Important information
Please view the terms and conditions listed below on the Terms and Conditions page:
- Personal Banking Guide to Fees and Charges
- Deposit Products Terms and Conditions
Information current as at July 3, 2009.
Products issued by Bank of Queensland Limited ABN 32 009 656 740 AFSL 244616. Fees and charges are payable. Full terms and conditions are available at any Bank of Queensland branch. The Bank's standard credit assessment criteria apply to overdraft products. This website contains general advice. This advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of any advice before acting on it. You should obtain and consider the terms and conditions and Guide to Fees and Charges for the product before making any decision about whether to acquire or continue to hold it. You can obtain a copy of those documents from any Bank of Queensland branch or from this website. This information is for general information purposes only. These rates are subject to change at any time. Details of our current rates may be obtained at any branch of Bank of Queensland, or contact us at our Customer Contact Centre.