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Why choose our Everyday Plus account?{yellow-border}

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Earn everyday rewards points

1 Qantas or Velocity Frequent Flyer Point for every $20 of daily average account balance^#.

No set-up or monthly fee

No establishment or account keeping fees.

No BOQ ATM fees

Free ATM withdrawals at all BOQ branded ATMs.

Security guarantee

Balances up to $250,000 are covered by the Government’s Deposit Guarantee.

Easy online access

Access your account any time through online banking or your Visa debit card.

24/7 customer support

Our Client Service Centre is open 24 hours a day, 7 days a week, should you need us.

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How to earn rewards points for your everyday banking {yellow-border}

You’ll earn 1 Qantas Point or 1 Velocity Frequent Flyer Point for every whole $20 making up the average daily balance calculated at the end of each calendar month, paid on balances up to $100 000. To work out the average daily balance for your account, add the closing balance from each day in the month together, and then divide the total by the number of days in that month. Here’s an example:{sub-heading}

Example{colspan-5}

Date

Event

Amount

Daily closing balance

Days at this balance

1 June

Opening balance

3 June

Deposit received

+ $2 000

$2 000

5 June

Deposit received

+ $400

$2,400

8 June

Debit card transaction

-$27

$2 373

10 June

Salary paid into account

+ $7 700

$10 073

25 June

Transfer out

-$125

$9 948

30 June

Month end

$9 948

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To calculate your average daily balance:{yellow-border}

Add together the closing balance for each day in the month:

$0 x 2 for the first 2 days of the month before the first deposit was made = 0

+ $2 000 x 2 for the 2 days between the first and second deposit = 4 000

+ $2 400 x 3 for the 3 days where the balance was $2 400 = $7 200

+ $2 373 x 2 for the 2 days between the transaction and salary deposit = $4 746

+ $10 073 x 15 for the 15 days between the salary and the next transaction = $151 095

+ $9 948 x 6 for the final 6 days of the month = $59 688

___________________

= $226 729

Divide the total by the number of days in the month (30 in this example using June)

$226 729 / 30

= a daily average balance of $7 557.63

Reward points are awarded on whole amounts of $20, up to balances of $100 000 so in this example the average monthly balance contains 377 whole amounts of $20 being $7 540. No points accrue on the $17.63 remainder. Therefore 377 reward points will be awarded for the month of June.

Talk to one of our financial specialists today{yellow-border}

Ready to see how rewarding everyday banking can be? Open an Everyday Plus account with no establishment or monthly fees and enjoy the bonus of earning Qantas or Velocity Points. Talk to one of our specialists today to find out how.

Find a specialist

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Frequently asked questions{yellow-border}

If you can’t find the answer to your question here, there’s more support available.{sub-heading}

Help and support

Who is the Everyday Plus Account for?

Everyday Plus is ideal for medical, dental, veterinary or accounting professionals - and their associates and suppliers - who want a transaction account with rewards built in.

How do I earn everyday rewards points with Everyday Plus?

You’ll earn 1 Qantas Point or 1 Velocity Frequent Flyer Point for every whole $20 in your average daily balance, calculated at the end of the month and paid on balances up to $100,000.
Points are credited to your nominated Qantas or Velocity account – you'll need to provide your membership number when you open your Everyday Plus account.

Do I need to be a member of Qantas or Velocity to earn points?

Yes. To earn everyday rewards points, you must be a member of the Qantas Frequent Flyer Program or Velocity Frequent Flyer Program and supply your valid membership number to BOQ Specialist. Simply holding the account doesn’t automatically enroll you, you must also register with the relevant frequent flyer programme.

What else does Everyday Plus include?

The Everyday Plus Account offers:

· No establishment or monthly account fees

· Free ATM withdrawals at all BOQ branded ATMs

· Deposit protection: savings up to $250,000 covered by government guarantee

· Plus, you get a Visa Debit Card with Apple Pay and Google Pay compatibility

More than simply a handy transaction account, it rewards you for banking normally.

How is the average daily balance calculated?

To determine the average daily balance for your account, add the closing balance from each day in the month together, and then divide the total by the number of days in that month. For example: if your average is $7,557.63, only the whole $20 portions count (i.e. 377 increments = 377 points); the $17.63 remainder doesn’t earn points.

What if I have other questions about everyday banking?

View all account FAQs here