Announced on on the BOQ Facebook page.
A little disappointed that for the second cash rate increase in a row, they still haven't passed on the full rate. Still missing 0.05%, and ING is essentially better for those with a higher balance.
To support our savings customers, we’ll also be lifting the interest rates on our Future Saver account to 5.50% p.a. and Smart Saver account to 5.10% p.a. Terms and conditions apply.
Should have moved my money from offset to savings sooner.
Why exactly?
@MrSober why exactly
Went to sign up my daughter last night. Process failed 3 times in a row after entering all the personal data. Started readings app reviews online. Horrible reviews. Quality institutions don’t behave like this. Buyer beware I think applies here. Whilst I don’t think they’ll collapse and run off with your money (government guarantee and all) but you can’t claim there aren’t warning signs about corporate governance. I’m out…
I hope i don't go through that. If i do , forget it , i will go to bendigo bank then.
Anyone else not seeing the new interest rate yet? Mine is still showing 5.3% in total not 5.5%.
I opened a bank account for my child last wed at the branch and till now its not opened. What a joke! A normal bank opens a bank account in 5 min!I rang to find out and they won't let me track it, I have to get my 14 year old to ring and find out. I asked why the teller of the bank can't open the bank account and they said they are not allowed , it has to be sent off for verification lol!!! I heard it takes 5 business days to open bank account.
Updated after chasing them to open account as the idiots couldn’t find the application , finally y was opened at 5pm today! So took from last wed to today being Tuesday . Nearly a week!
Seems like the 'bug' where you could earn interest on multiple accounts is fixed?
Only earned interest on one account, the lesser one.
It's only 1:33 AM, I haven't got any interest paid into any of my accounts yet for June. Maybe they will be processed in the morning.
Same! Uh oh
it’s usually all at the same time
Nevermind it's come through now on the second account. Brunobear was right
Beloww 18yrs old can only earn interest below 420 befor yoy get tax at 45%
What if the kid has been working and has tax file number , would the kids still only allowed to earn 420 interest?
They fixed the glitch? Only 1 account for me got the rate.
All mine received full rate
All received as well
Same issue.
Same issue, I opened a second savers account, and only got regular interest in that one it seems, and regular + bonus in the other.
I still got the full rate across all accounts, but I wonder if this will change from next month.
The rate is now 3% for balances between 50-250k.
https://www.boq.com.au/personal/banking/savings-and-term-dep…
Can anyone confirm if the 9 account glitch still works?
Anyone missing their interest from today? Usually comes in around 5am but still don't see it on my account.
Same here, didn't reveive anything for Virgin Money either. I suspect the system maintainance they were doing yesterday got something to do with it.
Ah, wasn't aware of the maintenance yesterday - that's probably it then.
I just realised that my OSKO transfer to BOQ on Wednesday has not even arrived yet…Something bad must have happened
@victorheaven: I just did an Osko transfer just now and I got the notification of "Amount Deposited" but don't see it when I refresh my accounts page.
Argh, almost thought it was something to do with them changing what qualifies as eligible transactions for the bonus interest. Hope they fix this soon, so many of us rely on these pay dates ay.
Same here. I tried to log in at 1am to check it and there was maintenance, so as victorheaven said, it's prob related.
Yep same here, had a mini panic attack until I saw this comment thread
One of my future savers got the expected interest deposited just now, waiting for others to show up (hopefully they didn't close the loop)
Only one of mine got it too 😬
Yep only one as well, truly devastating. Holding out that the rest will come through but not hopeful.
Got the second lot.
Still haven't got any interest at all 😬
They are rolling out in batches I think.
same, only one of mine got the interest! Noooo
Got the second one as well, looks like they've not fixed it.
@victorheaven: Finally got all mine. Anyone spooked enough by this to move their excess to another bank?
OK phew! All future savers received interest now, crisis averted.
Signed up since early August and found it to be pretty good. Interest arrived on time and I have found the app to be pretty easy to use though I don't do anything complex with banking apps, just transfers and searching for transactions. Some outstanding features I noticed were that you can have multiple spending accounts with different account numbers and that you get SMS notifications for large transactions. Only issue I had was that there were a few days where it went out of service unexpectedly but they gave out an alert about it.
Does anyone else have a savings interest rate of 5.40% (rather than 5.50%) showing in their BOQ app? Base rate of 0.05% and 5.35% as the variable rate.
Yeah showing the same for me
Same here.
Same
Updated to 5.4% on their website now, damn.
https://www.boq.com.au/personal/banking/savings-and-term-dep…
Damn it. Time to check the Google interest spreadsheet and see which one is best (already have ING).
Think mebank has a similar savings like boq app offerring 5.65%
@Happysaving: RBA rates are likely to increase in the coming months again with inflation remain at a high.
Lets see whats gonna happen then
"Effective 24 October 2023, we will be decreasing the Bonus Interest Rate on our Future Saver and Smart Saver accounts by 0.10% p.a. The below table outlines the new rates."
The gist of that email meant they want to alleviate net interest margin pressures since their share price sucks
This is disappointing. I was thinking about switching after the technical issues, maybe now's a good time. Shame ING requires the balance to grow every month.
it works. what improvs ure after mate