Funds Transfers
What are the cut off times for transfers between my BOQ accounts?
How is the available balance for loan redraws calculated?
The balance is calculated up to your last repayment. You may redraw any amounts that have been deposited to your account in excess of the total of your most recent minimum monthly repayment. You will need to ensure that you leave enough available funds to cover the next minimum monthly repayment.
If I perform a loan redraw today, what do I have to do about the next repayment?
Your minimum monthly repayment is due as normal on the next due date. Please note that the Bank’s system operates on a monthly basis. If you make your repayments weekly or fortnightly, those payments made each week or fortnight before the monthly due date will appear to be amounts available for redraw. You must take this into account when redrawing funds and must ensure that you leave enough funds in your loan account to meet your next minimum monthly repayment.