Reverse Charges Account®
The Reverse Charges Account® is the first transaction account in Australia to pay you a fee for giving us your business; and it gives you the freedom to do banking your way - with easy access to your cash.
Features and benefits
The Reverse Charges Account® gives you unlimited free deposits and withdrawals through: any Bank of Queensland branch, Bank of Queensland ATM's Australia-wide, Internet Banking, EasyPhone banking, EFTPOS, cheque book and BPAY*
- Interest calculated daily and paid quarterly
- Flexible overdraft facility available
- Fee exemptions available for people under 18 years of age, full time secondary school, TAFE or university students and home loan customers
- Transfer to any other Bank of Queensland account for free.
*Fees apply to Multi Payment, Cashed Cheques, other Bank ATMs, Bank@Post withdrawals and transfers to accounts at other Australian financial institutions. International transactions applicable when using a Visa Debit Card. For a full list of applicable fees and charges, please refer to the Personal Banking Guide to Fees and Charges.
More features and benefits
With a minimum monthly balance of $2,000,
- 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.
Visa Debit Card
Link your Reverse Charges Account to a Visa Debit Card and you have international access. Use your own money to purchase over the phone, via the Internet or anywhere that Visa is accepted.
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
For information on fees applicable to this product, please refer to the Personal Banking Guide to Fees and Charges
How to apply
Existing Bank of Queensland Internet Banking users can request a new Reverse Charges Account® from within Internet Banking. Alternatively, 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 September 3, 2010.
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.