BOQ Launches FX Payments via Internet Banking

Friday, 27/08/2010

BOQ has launched foreign exchange payments via Internet Banking, making it even easier and more convenient for customers to create and send international and domestic telegraphic transfers (also known as Real Time Gross Settlement (RTGS)) via Internet Banking.   

Head of Direct Banking Craig Broomfield said this new functionality is a great and very welcome addition to the Bank’s Internet Banking suite.  

“Not only will customers be able to access/leverage all their existing telegraphic transfer history, but if they’ve negotiated a preferential rate, or previously used a telegraphic transfer template for branch transactions, these details will also be available via Internet Banking,” said Craig. 

“This will facilitate easier and quicker payment creation and submission for customers. 

“Internet Banking will also store your frequently used beneficiaries for future use as well as display a payment history.” 

Head of Treasury Products Bruce Schmidt said the beauty of the system is its simplicity. 

“The features we deployed in our branch based payments system called iTAP (International Transfers and Payments), including databases for bank details and payment routing information, are all available in Internet Banking Foreign Exchange (IBFX) as IBFX is essentially a ‘plug-in’ to iTAP," Bruce said.   

"Performing a payment to a beneficiary already saved in the system takes less than one minute from start to finish. 

"In my opinion it doesn’t really get any easier than that!" 

Customers who’d like to perform an International or domestic telegraphic transaction via Internet Banking will need to obtain a token and be able to perform Pay Anyone Transactions. 

Customers can register their nominated accounts for International or RTGS transactions via Internet Banking or can ask their local branch to add their account/s to iTAP on their behalf. 

The fee for performing either an International or domestic payment via Internet Banking is $20 while the standard fee in branches is currently $30. 

If customers need further assistance they can call the Internet Banking helpdesk on 1300 55 72 72.