FAQs: Dishonoured payment notifications

From August, we'll now send you an SMS to alert you that a payment was dishonoured or your account has become overdrawn due to insufficient funds in your account.

We've included one example of the SMS below, so you know what to look out for and can trust that it's from us. While the exact message in the SMS may change, it will always be signed: Thanks, BOQ.

We also won't ask you to do anything except check your balance.

This change means you'll no longer receive a phone call or letter from us about the dishonour of a payment that you may have received in the past.

We want to make it easier for you to catch up when things don't go to plan, so we are automating our processes and removing the fee when a payment dishonours, these fees will be removed from September 2021. You can learn more about this by reviewing our Fees and Charges.

You have received an SMS as you had insufficient cleared funds in your account to cover the payment of a cheque or direct debit. You haven’t been charged a fee, however overdrawn interest may apply. The cheque or direct debit may have been paid.

A cheque or direct debit may have been attempted on your account and there may not have been sufficient cleared funds in the account at the time.

If this is a recurring payment, please consider changing the timing of your direct debits to ensure there are sufficient cleared funds in your account for future debits.

If you are receiving benefits you may be entitled to a concession account. A concession account will not allow you to become overdrawn.

A cheque or direct debit may have been attempted on your account and at the time, there may not have been sufficient cleared funds in the account. Funds may have been added or cleared after this time. There is a slight lag between when the dishonour occurs and when the SMS is received.

These SMS alterts are our way of keeping you up to date on your transactions. Unfortunately it is not possible to opt out of SMS notifications or change back to receiving letters.

Dishonour fees for cheques, direct debits and transfer orders will be removed from September 2021. 

If you are an eligible Commonwealth Government Pension or Concession Card Holder and have a Day2Day Plus Account we can offer you a concession feature which prevents your account from overdrawing.