BOQ Smart Saver - Bonus Interest Criteria Excludes SWIFT Deposits

LLord Fungus on 02/09/2024 - 14:03
Last edited 02/09/2024 - 15:11 by 1 other user

I wasn’t paid my bonus interest yesterday, and was advised it was because a large SWIFT deposit isn’t classified as an external deposit.

This is the only way to quickly (same day) move large amounts of funds electronically between banks, if it exceeds PayID limits.

Has anyone else had this experience with BOQ?

I’ve been advised they will review it and if honoured, it will take up to 10 days to receive my bonus interest.

On a positive note, the wait time in the queue was under a minute, and far faster than via the chat.

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Bank of Queensland

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  Hugh G Rection on 02/09/2024 - 14:38

  i had a horrible experience with there customer service. i had to call back several times because they couldn't fix my issue, it was super annoying. finally was able to fix it, but at that point i was finished with them. plenty of other banks out there, so i pulled all my money out and moved it to another bank with the same 5.5%
  never had to go through so much crap to just get my issue fixed.

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  askbargain on 02/09/2024 - 15:10

  it's a 1k deposit and you couldn't meet it with Osko? what other bank are you with?

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    Lord Fungus on 02/09/2024 - 16:08

    I normally do the $1K deposits via PayID (aka Osko or NPP), but as I mentioned in my original post, this one was too big to be done using that method…

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      askbargain on 02/09/2024 - 17:35

      why are you making a larger deposit? just do 1k to meet the requirement

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        Lord Fungus on 02/09/2024 - 19:46

        So you’ve never had any extra savings to deposit in there? Not every person who has one of these accounts can open it with the maximum $250K straightaway. Some people take a while to accumulate that quantity of funds…

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          askbargain on 02/09/2024 - 21:09

          @Lord Fungus: you can deposit your 1k first and the rest after. a few days of interest lost is far less than the bonus interest not received.

          also, the bonus interest is activated based on the previous month's eligibility. so if you're talking about the interest paid yesterday, you need to have done the deposit in July.

          if you're 36 or older and still have problems with managing your money, that's on you.

          Ubank/ANZ plus might be easier to work with

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  Lord Fungus on 03/09/2024 - 22:58

  I’m well aware of how this account works. You are correct in suggesting the bonus interest paid in Sep required a deposit in Jul…