BOQ Review

BOQ Information

BOQ, established in 1874 and regulated by ASIC, offers diverse financial services for individuals and businesses, including various bank accounts, home and personal loans, credit cards, insurance, and specialized business banking solutions. They are noted for having a zero minimum deposit requirement for some accounts.

Pros and Cons

Is BOQ Legit?

BOQ has a Market Maker (MM) license regulated by the Australian Securities and Investments Commission (ASIC) in Australia with a license number of 000244616.

Financial Services

1. For individuals, BOQ offers bank accounts (transaction, savings, term deposits), home loans (including refinancing and calculators), credit cards (with rewards), personal loans, and insurance (home/contents and car).

1. For businesses, BOQ offers loans and finance (including business loans and overdraft), business accounts (transaction, savings, Visa debit card), foreign exchange and trade services, merchant and payment products, industry expertise (e.g., agribusiness, healthcare), and business banking support (tools, calculators, knowledge hub).

Account Type

Business bank account: BOQ offers various business bank accounts, including Business Transaction Accounts for daily operations and Savings and Investment Accounts to earn interest on business funds. They also provide Industry Specialist Accounts tailored for sectors like Solicitors, Real Estate Agents, and Not-for-Profits.

Personal account: BOQ offers two types of personal accounts, which are the Transaction Account and Savings Accounts.

Transaction account: BOQ's transaction accounts generally feature no monthly account-keeping fees, no withdrawal fees at BOQ ATMs within Australia, and no transaction fees within Australia. They also state no overdrawn fees if you happen to overdraw your account.

Savings accounts: