FAQs

  • What is a scheme card?

    The term "scheme card" includes any Visa or MasterCard credit card or debit card.

  • What is a ‘Regular Payment Arrangement’?

    Regular Payment Arrangements can be either a recurring payment or an instalment payment. A Regular Payment Arrangement is an agreement between you (the cardholder) and a merchant in which you authorise the merchant to bill your credit card account at regular intervals (e.g. monthly or quarterly) or at intervals as agreed by you. The amount may differ or be the same for each transaction.

    An Instalment Payment represents an agreement between you (the credit cardholder) and a merchant in which you preauthorise the merchant to bill your credit card account with a fixed amount at predetermined intervals for a predetermined time.


    Examples:

    Recurring Transaction: You may ask your local gymnasium to charge your monthly gym membership fee to your credit card each month.

    Instalment Payment: You may have purchased a new television from your local appliance store and are being billed by the merchant for a fixed amount in multiple periods until a defined date.

  • What are the benefits of Regular Payment Arrangements?

    There are many benefits for credit cardholders who set up regular payments including:

    • Timely payments to the merchant
    • Saves you time as the payment is processed automatically
    • Saves you money as you do not have to pay for cheques, money transfers or postage, nor will you be liable for late fees.
  • How do I cancel a Regular Payment Arrangement?

     At Bank of Queensland you have a couple of options of how to cancel your Regular Payment arrangement on your Credit Card – these are:

    1.    Telephone our BOQ Contact Centre (24 hours a day, 7 days per week) on 1300 557 272, select option 1 for Credit Cards to speak with one of our friendly team members, who will be able to further guide you over the phone.

    If the regular payment arrangement is due to be processed from your account within the next 7 days, these instructions will be process Citibank for processing. However, we cannot guarantee the success of the cancellation due to the possibility of the payment file already being processed.

    As an extra assurance, it is also a good idea to touch base with the third party provider that you have authorised to debit your account to ensure that they do not establish a new debit stream in the future.

  • What if my credit card number and/or expiry date changes?

    If you have provided a merchant with your credit card number for a Regular Payment Arrangement and your credit card number and/or expiry date changes then you must contact the merchant to advise them of the new credit card details. Failure to advise the merchant of these changes could result in the cancellation of goods and/or services (e.g. cancellation of your car insurance policy).

  • What is a Direct Debit?

    A direct debit is an automatic transaction established with a third party allowing a service provider to automatically debit a fixed or a variable amount of money from your transaction account (direct or via a VISA debit card linked to your transaction account) in accordance with the agreement consented to by yourself.

    Examples of a direct debits are a monthly gym membership, insurance premiums or any other bill that enables automatic payments.

  • What are the benefits of a Direct Debit?

    Direct Debit is an easy option for paying your bills: Payments are made automatically if necessary funds are available in your transaction account, so bills are never forgotten, lost in the post and are paid on time.

  • How do I cancel a Direct Debit?

    At Bank of Queensland you have a couple of options of how to cancel your direct debit – these are:

    1.    Telephone our BOQ Contact Centre (24 hours a day, 7 days per week) on 1300 557 272 to speak with one of our friendly team members, who will be able to assist you over the phone.

    2.    If option 1 is not convenient you can come into any of branches, click here to find your nearest branch.

    If the direct debit is due to be processed from your account within the next 48 hours, Bank of Queensland can still process your request. However, we cannot guarantee the success of the cancellation due to the possibility of the payment file already being processed.

    As an extra assurance, it is also a good idea to touch base with the third party provider that you have authorised to debit your account to ensure that they do not establish a new debit stream in the future.