Effective 1 March 2020, we paused the requirement for you to make five or more eligible transactions from your linked transaction account to earn Bonus Interest on your Fast Track Saver, Fast Track Starter & Business Performance Saver Accounts. This temporary pause to the Bonus Criteria will end on 31 August 2020.
From 1 September 2020, in order to meet Bonus Criteria and to be eligible to earn Bonus Interest in the following month, you will again need to:
- Make five (5) or more eligible transactions from your linked transaction account each month; and
- Make the relevant minimum deposit into your linked transaction account each month.
Read more about Eligible Transactions below!
Bonus Criteria FAQs
When will I need to start making 5 eligible transactions again?
From 1 September 2020 you will again need to make five eligible transactions, as well as the minimum deposit into your linked Day2Day Plus Account or Everyday Business Account each month, to earn Bonus Interest the following month. So for you, it’ll be important to make those five (5) transactions and minimum deposit in the month of September to earn your Bonus Interest in October. Your Bonus Interest earned in October will be paid on 1 November, 2020. This will continue in this fashion each month.
Still not sure what we’re talking about? Take a look at our diagrams below to visually understand how it all works for your relevant product…
Fast Track Saver:
Fast Track Starter
Business Performance Saver
*Bonus Interest is earned on your savings balance. Make sure you transfer your funds from your linked Day2Day Plus Account or Everyday Business Account to your Fast Track Starter, Fast Track Saver or Business Performance Saver account to reach your savings goals sooner.
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 September 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 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?
Need more help in understanding the Fast Track accounts? Take a look at these FAQs
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