There are changes to the Bonus Criteria on the Fast Track and Business Performance Saver Accounts. This change has been carefully considered, and will enable us to continue providing competitive bonus interest rates to help our customers with their savings goals.
Effective 1 February 2020, to meet Bonus Criteria and to be eligible to earn Bonus Interest in the following month, you will need to:
- Make five (5) or more eligible transactions from your linked transaction account each month (this is new criteria); and
- Make the relevant minimum deposit into your linked transaction account each month (this is the existing criteria – it is not new).
Read more about Eligible Transactions below!
Bonus Criteria Changes FAQs
When will this change come into effect?
This change will start on 1 February 2020. So for you, it’ll be important to make those five (5) transactions and minimum deposit in the month of February to earn your Bonus Interest in March. Your Bonus Interest earned in March will be paid on 1 April, 2020. This will continue in this fashion each month.
Still not sure what we’re talking about? Take a look at our diagram below to visually understand how it all works…
An example of how you can earn your bonus interest:
*Bonus Interest is earned on your Fast Track savings account balance. Make sure you transfer your funds from your linked Day2Day Plus Account to your Fast Track savings account to reach your savings goals sooner.
Why is BOQ making these changes?
These changes have been carefully considered and will enable BOQ to continue providing competitive bonus interest rates to help our customers reach their savings goals.
What do I need to do?
Start making your five (5) eligible transactions and continue to make the monthly minimum deposit amount for your account from 1 February 2020. Try not to leave it too late, this way you can be sure that your transactions have settled in the relevant month!
Make it easy – you can make it easy by simply switching some of your direct debits to your linked transaction account. If you need a little guidance just jump across to our Switching to BOQ page!
Get rewarded – you may also want to take this opportunity to better utilise your Visa Offers & Perks when using your Visa Debit Card. Follow us here to see the full spread of offers available to you, so you can get a little back, for a little spend!
How do I know how many transactions I have made?
You can regularly check your account transaction list or history on your Internet Banking or Mobile Banking. The settled transactions will show on these list so ensure the 5 eligible transactions are completed within the relevant month.
What happens if I do not meet the new Bonus Criteria?
You will earn the Base Rate for the month that you do not meet the Bonus Criteria on your Fast Track Starter, Fast Track Saver or Business Performance Saver balances.
- How do I order or reorder my Visa Debit Card?
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