These pages contain frequently asked questions regarding banking at BOQ. If your question was not answered by this FAQ or you have other questions regarding banking at BOQ, please call Customer Connect on 1300 55 72 72  (+617 3336 2222 if you are calling from outside Australia).

General

BOQ Access/Visa Debit Card

  • Who do I contact if I lose my BOQ Access or Visa Debit Card?

    If you have lost or misplaced your BOQ access or Visa Debit card, or it has been stolen, please call Customer Connect on 1300 55 72 72 (or +617 3336 2222 if calling from outside Australia) to organise a replacement.

  • Does my card have Contactless payment functionality?

    Both BOQ Access & Visa Debit cards have contactless payment functionality, this allows card holder to make payments without the need to swipe, enter your PIN or sign at the register when making purchases under $100.

  • What account will my Contactless payments debit from?

    You do not need to select credit, savings or cheque when using your Contactless Card.  The transaction is automatically processed to the transaction account linked to your Savings button.

  • What is the limit for Contactless payments?

    A limit of $100 applies to Contactless Payments. For transactions of $100 and over, you can still use your Contactless Card by swiping or inserting the card in the terminal and providing your signature or PIN.

  • Are Contactless payments safe?

    Contactless Payments are just as secure because contactless transactions use the latest encryption technology, and are processed through the same payment network as chip card transactions. In addition, with contactless technology, you retain control of your Contactless Card during the transaction, which reduces the risk of fraud. If you believe that you have been charged twice for a transaction, contact BOQ on 1300 55 72 72

    As with any other card, if you have lost your card or suspect unauthorised activity on your account, stop using your Contactless Card and contact BOQ on 1300 55 72 72 immediately. If you comply with the terms of the cardholder agreement, you will be reimbursed for any unauthorised activity on your Contactless Card.  

Deceased Estates

  • What steps are required to manage a deceased's account?

    Step 1 – Notify us at a BOQ branch 

    Visit any BOQ branch with a certified copy of the following: 

    • Death Certificate and Will; or
    • Grant of Probate; or 
    • Letters of Administration.

    The branch can advise you if any additional documentation is required.

    You will also need to identify yourself with photo identification (i.e. licence, proof of age card, passpost). 

    If you cannot make it to a branch, contact us on 1300 55 72 72

    Step 2 – BOQ will review the Estate

    BOQ will conduct a review of accounts and facilities held by the deceased. Depending on the amount of funds in the deceased person's account, and the State or Terriroty in which the account is held, you may need to provide additional information.  

    Step 3 – BOQ will write to you

    BOQ will write to you detailing the accounts and facilities solely owned by the deceased and also what requirements need to be fulfilled prior to the Bank releasing those assets.

    Step 4 – Complete requirements

    You will need to complete and return all documents and requirements requested by BOQ.

    Step 5 – BOQ will release Estate funds

    Once all requirements have been met, BOQ will release funds held by the Estate.

  • Who can notify BOQ and be provided with information about a deceased's account?

    Information regarding deceased customer's accounts can only be provided to:

    • The Executors of the Estate named in the last Will
    • The persons to whom a Grant of Probate or Letters of Administration are granted
    • In an Intestacy where no grant has been applied for, to the person who is first entitled to apply for Letters of Administration
    • If there is no Will and if there is no intention to apply for Letters of Administration, then confirmation is to be obtained from the person seeking the information stating their relationship to the deceased. You will need to confirm this relationship by providing either a birth or death certificate, or marriage certificate

    If you are not one of the people listed above, you can notify us of the passing of the deceased, but we may be limited in the information we can provide to you.

    In all instances, you will need to be identified so ensure you bring photo identification with you to the branch (i.e. licence, proof of age card or passport). 

  • What if I share a joint account with the deceased?

    If you hold a joint deposit account with the deceased, these accounts do not form part of the Estate.  Ownership will be transferred to the surviving party on receipt of a certified copy of the Death Certificate and a completed Existing Account Authority form.  Visit your local branch or call 1300 55 72 72 to arrange the transfer. 

  • Where can I obtain the documents required?

    Death Certificate

    You should contact the Registry of Births, Deaths and Marriages in the State or Territory where the person’s death was registered. Usually, only a person named as the spouse, partner, parent or child of the deceased person can apply for a death certificate.

    Will

    If you have not been told where the latest Will is located and you cannot find it at the deceased's home, ask their solicitor, accountant, financial advisor, other family members or close friends if they know of its whereabouts.

    If the deceased has not left a Will, the deceased is considered to have died intestate.  The Public Trustee in your State or Territory can advise the process for dealing with the Estate and who will be appointed Administrator of the Estate.  Letters of Administration will be provided in this case. 

    Probate or Grant of Probate

    An Executor/Executrix, Administrator, Legal Representative or Next of Kin can apply for Probate by contacting the Supreme Court in the State or Territory in which the deceased’s assets are held. You can seek advice on this matter from Centrelink, the Public Trustee in your State or Terriroty, or your solicitor.

    Probate expenses are usually incurred by the Executor and reimbursed from funds held in the deceased’s Estate.

    Documents not accepted

    A Power of Attorney ceases to be valid upon the death of the principal (the person making the Power of Attorney). This means that persons appointed as attorneys under a Power of Attorney will no longer be able to access bank accounts or conduct other transactions on behalf of the deceased.

    We cannot accept a medical certificate in place of the Death Certificate or Probate.

  • What happens to accounts and facilities until the estate is finalised?

    What happens to accounts only in the name of the deceased?

    BOQ will revoke access to these accounts by account signatories, and will cancel all Direct Debits and Transfer Orders. BOQ will also notify affiliated partners such as Citibank and Link Marketing of the person’s death.

    Upon instructions from the Executor, BOQ will close sole accounts and issue a bank cheque for the closing balance payable to the ‘Estate of the Late …’, which can then be deposited into the Estate Account ready to be distributed in accordance with the terms of the Will.

    Opening & operating an Estate Account with BOQ

    An Estate Account can be established at any financial institution. To open an Estate Account with BOQ, all Executors or Administrators of that Estate must sign the account opening form, and each Executor/Administrator who is not an existing BOQ customer will need to provide identification. In addition, withdrawals made from this account must be authorised by ALL Executors of the Estate.

    Requests to pay bills

    If requested by the Executor/s, BOQ may agree to arrange payment of bills associated with the Estate directly from the deceased person’s account, provided there are sufficient funds in that account. Such bills may include funeral costs, government payments and costs to protect the Estate (e.g. insurance).

    In order for BOQ to consider the payment, you will need to provide the original invoice and/or receipt (where payment was made independently and reimbursement is requested). Where the bill is approved and the deceased person’s account has insufficient funds for the full payment amount, the deceased’s account/s may be closed and the total balance sent as part payment of the bill.

    Overpayment/s to an account held by the deceased

    Occasionally, payments from a government department (e.g. Centrelink, the Department of Veteran’s Affairs) are credited to a deceased person’s account after the date of death. BOQ is required by law to refund such overpayments to the specific department if requested by that department.

    What happens to loans held by the deceased?

    Unfortunately, loans held by the deceased (whether by themselves or jointly with other borrowers) become immediately repayable upon their death. Generally, the Executor must ensure that all of the deceased’s debts are repaid before distributing the remaining assets to the beneficiaries.

    Where the deceased person held a home loan jointly with another person, BOQ will contact the surviving joint borrower/s to discuss options for repaying the loan.

    What happens to accounts which the deceased held as trustee?

    What happens to assets held by a person as trustee depends on the terms of the trust, which are usually set out in a trust deed. If the deceased person was acting as a trustee prior to their death, it is recommended that you seek independent legal advice regarding the continuance of the trust.

    Why can’t we electronically transfer Estate funds to an Estate Account at another Financial Institution?

    BOQ is unable to electronically transfer funds from a deceased person’s account to an account held at another financial institution as we cannot confirm the ownership of the account or that the account number supplied is correct.

  • What are the duties of the Executor of an Estate?

    The Executor, in effect, steps into the shoes of the deceased person and winds up their personal affairs. Examples of tasks usually performed by an Executor include:

    • applying for probate
    • informing relevant entities of the death e.g. investment bodies, Centrelink
    • locating assets and having their value assessed
    • paying debts, income tax and funeral expenses
    • transferring assets and paying stamp duty
    • distributing the surplus to beneficiaries

    For comprehensive information regarding the duties and actions of an Executor, please contact The Office of the Public Trustee in your State or Territory or a solicitor.

  • What are the common terms I may need to know?

    Administrator: The Court may appoint an administrator under Letters of Administration to manage an Estate, for example, when there is no Will, no Executors are appointed under the Will, or the Executors are unwilling or unable to act.

    Beneficiaries: People who are entitled to a portion of the assets of the Estate. They are usually named in the Will. If no Will exists, they are usually the deceased person's next of kin but this is determined by the law so you should seek legal advice.

    Estate: When a person dies, their property and assets are called their “Estate”. The deceased’s Estate is held by the Executor or Administrator of a Will on trust until the assets can be distributed in accordance with the terms of the Will.

    Estate Account: An account established by the Executor/s or Administrators of an Estate to receive funds identified as part of the Estate, prior to distributing funds according to the terms of the Will.

    Executor: The individual/s (or office of The Public Trustee) nominated in the Will to control the assets of the Estate and carry out the terms of the Will.

    Executrix: A female Executor.

    Grant of Probate: An official grant by the Courts to the Executor named in the Will, enabling the Executor to effect the terms of the Will. Until Probate is granted by the Courts, an Executor does not have legal authority to collect monies, pay debts or distribute assets of the Estate.

    Intestate: When a person dies without leaving a Will.

    Probate: see ‘Grant of Probate’

    Will: A legal document that sets out a person’s directions for the administration and disposal of their Estate after their death.