Practice finance

Business accounts and banking


Business banking with all the features that fit

The BOQ Specialist Business Banking Package is a comprehensive and flexible solution that can be tailored to include all the features that fit your practice needs.

With the added benefits of optional features, a dedicated financial specialist and 24/7 support through our Client Service Centre, it's the only solution you need for all your business banking needs.

 

One Account for business

  • A competitive rate of interest on your account balance
  • Easy access to your account through online banking and our mobile app including BPAY® and Pay Anyone functionality
  • Visa debit card with free ATM withdrawals at BOQ branded ATM's 
  • Integration with accounting software including MYOB, Xero and Banklink, allowing you to easily manage your practice cashflow
  • Optional overdraft with an unsecured line of credit.  You only pay interest on what you use not on the entire credit limit, and you don’t have to use your property as security
  • Simplify bulk payments with batch debit and credit facilities
  • Savings up to $250 000 are covered by the Government's Deposit Guarantee~
  • Access to the BOQ branch network for depositing cheques and cash   

 

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Package features

Customise your package by choosing one or more of the following optional features to create the complete banking solution that best suits your practice needs.

Merchant facilities

Merchant facilities

  • Simple set up
  • A 3-in-1 terminal – mobile, countertop and integrated
  • Direct integration with practice management software
  • Same day settlement, seven days a week

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Signature credit card

Signature credit card

  • Earn 1 Qantas point* for every $1 spent on eligible purchases in Australia up to 10 000 points per month and 0.5 points per $1 thereafter
  • 8 free additional card holders
  • Segregated spend statements
  • Option to purchase a car or equipment on your card then roll into a fixed term contract#

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Overdraft

Overdraft

  • Easily manage your practice cash flow
  • Fully flexible line of credit overdraft up to $50 000
  • Access via your One Account for Business to use when you need it
  • Only pay interest on what you use, not the entire amount
  • Provides a safety net for unexpected expenses

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Batch payments

Batch payments

  • More convenient – payments received immediately
  • Zero costs – no fees for issuing cheques
  • Saves time –payments can be created by most third party accounting and payroll software platforms

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Accounting software integration

Accounting software integration

  • Keep your accounting records up to date
  • Set up and manage staff accounts and process payroll payments
  • Simplify bulk/batch payments 

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  • Important Information

      The issuer and credit provider of these products and services is BOQ Specialist. Terms and conditions, fees and charges and lending and eligibility criteria apply. You should obtain and consider the product terms and conditions before making any decision about whether to acquire the products. We reserve the right to cease offering these products at any time without notice.

      For target market determinations please click here.

      Any information is of a general nature only. We have not taken into account your objectives, financial situation, or needs when preparing it. Before acting on this information you should consider if it is appropriate for your situation. BOQ Specialist is not offering financial, tax or legal advice. You should obtain independent financial, tax and legal advice as appropriate.

      ~ Under the Australian Government’s Financial Claims Scheme (FCS), certain deposits are protected up to a limit of $250,000 for each account holder. The FCS limit of $250,000 applies to the total sum of all account holder’s deposits under the one banking license. Therefore, all deposits held by an account holder with a single banking institution must be added together towards the $250 000 FCS limit, and this includes accounts with any other banking businesses that the licenced banking institution may operate under a different trading name. For BOQ Specialist, this includes accounts held with BOQ Specialist, BOQ and Virgin Money (Australia). Please visit apra.gov.au for further information on the institutions and types of accounts covered. 

      © 2020 Fiserv, Inc. or its affiliates. All rights reserved. Fiserv is a registered trademark of Fiserv, Inc. Other products referenced in this material may be trademarks or registered trademarks of their respective companies.

      ^6 months free rental on the Move 5000 terminal

      1. Merchants successfully on-boarded as a Fiserv Merchant Solutions Australia Pty Ltd ABN 51 115 245 531 (“Fiserv”) entity merchant between 1 June 2020 – 31 December 2021 (the “Campaign Period”) will be eligible for a waived terminal rental fee for one terminal and one Merchant ID for the first six months (the “Processing Period”) following the date the Merchant ID (“MID”) is created by Fiserv (subject to KYC and credit approvals).

      2. The Free Terminal Rental Campaign offer is only available for the Ingenico Move5000 terminal to eligible merchants as defined in Clause 3.

      3. In order to be eligible to receive the terminal rental fee waiver a merchant must:

      • a. be a BOQ Specialist - a division of Bank of Queensland Limited ABN 32 009 656 740 AFSL and Australian Credit Licence no. 244616 (BOQ Specialist) client with a BOQ Specialist business banking package;
      • b. be on boarded and have a new Merchant ID created during the Campaign Period;
      • c. enter into a Merchant Agreement with Fiserv during the Campaign Period;
      • d. receive the merchant acquiring services from Fiserv through POS terminal(s) provided by Fiserv;
      • e. not be in material breach of the Merchant Agreement at any time during the Processing Period.

      4. Fiserv may suspend, revoke or amend the Free Terminal Rental Campaign at any time for any reason. The offer is non-transferable. The rules of the campaign may be changed without notice and at the sole discretion of Fiserv.

      5. The promoter of this offer is Fiserv Merchant Solutions Australia Pty Ltd ABN 51 115 245 531 (Fiserv). BOQ Specialist is not responsible for and shall have no liability for and makes no representations or warranties regarding the offer provided by Fiserv. Merchant products are offered exclusively by Fiserv and are not offered by BOQ Specialist - a division of Bank of Queensland Limited ABN 32 009 656 740 AFSL and Australian Credit Licence no. 244616 (BOQ Specialist) or any of its affiliates. BOQ Specialist does not guarantee the obligations or performance of Fiserv or the products or services that Fiserv offer.

      6. These Terms and Conditions are governed by and construed in accordance with the laws of Australia.

      *Qantas Points
      You must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Points. Membership and Qantas Points is subject to the Member Terms and Conditions. Qantas Points will be earned on eligible transactions in accordance with the BOQ Specialist Qantas Rewards Program Terms and Conditions. See definition of Eligible Transaction in the BOQ Specialist Qantas Rewards Program Terms and Conditions. 

      #Asset finance on card
      A 1.5% processing fee applies on the purchase price. Points are earned on eligible purchases only. Fixed term finance contract is to be approved prior to purchase. If you elect to make loan repayments on your BOQ Specialist Credit Card a 1.5% processing fee applies on the amount of each repayment. Repayments on overdrafts and lines of credit are not available to be made via BOQ Specialist credit card.

      You should seek independent tax and accounting advice on the implications (including fringe benefits tax, goods and services tax and income tax) of your chosen finance option and earning (and subsequently redeeming) reward points on your equipment purchases with a BOQ Specialist credit card.