Credit Card FAQs

Regular payment arrangements can be either a recurring payment or an instalment payment. A regular payment arrangement is an agreement between you (the cardholder) and a merchant in which you authorise the merchant to bill your credit card account at regular intervals (e.g. monthly or quarterly) or at intervals as agreed by you. The amount may differ or be the same for each transaction.

An Instalment Payment represents an agreement between you (the credit cardholder) and a merchant in which you preauthorise the merchant to bill your credit card account with a fixed amount at predetermined intervals for a predetermined time.

Examples:                                                            

Recurring Transaction: You may ask your local gymnasium to charge your monthly gym membership fee to your credit card each month.

Instalment Payment: You may have purchased a new television from your local appliance store and are being billed by the merchant for a fixed amount in multiple periods until a defined date.

There are many benefits for Credit Card holders who set up regular payments including:

• Timely payments to the merchant
• Saves you time as the payment is processed automatically
• No need to send cheques or worry about postage delays

At Bank of Queensland, there are a few ways to cancel your Regular Payment Arrangement on your Credit Card:

• Contact the merchant to initiate a cancellation
• Call BOQ Customer Connect (24 hours a day, 7 days a week) on 1300 55 72 72 and select option 1 for Credit Cards where a team member will be able to guide you over the phone
• Visit your nearest BOQ branch

The request for cancellation will be processed by National Australia Bank, the credit provider for BOQ’s Credit Cards. Requests are processed promptly, however may not take immediate effect if the third party (eg, gym membership) has already submitted their payment file for processing. For added assurance, it is always good to touch base with the third party provider to ensure your payment arrangement is showing as cancelled within their system.

If you have provided a merchant with your Credit Card number for a Regular Payment Arrangement and your Credit Card number and/or expiry date changes, then you must always contact the merchant to advise them of the new Credit Card/expiry details. Failure to advise the merchant of these changes could result in the cancellation of goods and/or services (eg, the cancellation of your car insurance policy).

When you make a payment to your account using the Reference Number shown on your statement (which is also your Account Number), the available limit is updated for you as the primary cardholder, as soon as the payment is processed.

For purchases made by additional cardholders, their available limit will be updated when your next statement is issued. If you need to make credit available to them earlier, you can make a payment to your account using the additional cardholder’s card number as the Reference Number.

An Instalment Plan allows you to make your repayments in monthly instalments at a fixed rate over a set term. Please note that Instalment Plans may be subject to fees and charges.

You can use an Instalment Plan in two ways:

1. Statement Instalment – Convert retail purchases from your current statement. A minimum conversion of $500 applies. Excludes fees and charges, Balance Transfers, Cash Advances and existing Instalment Plans.
2. Transaction Instalment – Convert unbilled retail purchases of $50 or more in an Instalment Plan.

To find out more, click here. 

There are a few things you can do to confirm if the transaction in question is legitimate to your account:

• Check the transaction with any additional cardholders;
• If you don’t recognise the merchant name appearing on your statement, searching via Google can sometimes help to determine the business trading name or business type;
• Verify if the merchant is located overseas or the transaction occurred overseas as this can alter the amount based on the exchange rate at the time; or
• Contact the merchant directly as this is usually the fastest way to solve a transaction dispute. Many organisations have their own payment dispute process.

You can initiate the dispute process for an unknown transaction on your Credit Card statement, by doing the following:

• Complete the Transaction Dispute form available online and then upload, with the support documentation via the Document Upload function available online (log on to BOQ Internet Banking > select your Credit Card account > select Q Rewards / Other Card Functions > select Document Upload on the left hand side (Manage Your Credit Card) menu)
• Call BOQ Customer Connect (24 hours a day, 7 days a week) on 1300 55 72 72
• Visit your nearest BOQ branch
• Contact the merchant directly to dispute the transaction

• If your dispute is not about a suspected fraudulent transaction, we strongly suggest you attempt to resolve the dispute with the merchant or service provider.
  For disputes that may arise due to COVID-19, please note that many merchants are proactively offering refunds and reasonable alternatives for future service. If no resolution is agreed, we will act on your behalf in the formal dispute process.
• Visa & Mastercard have a formal dispute process with set timeframes that BOQ Credit Cards must follow. To allow us to help you resolve your dispute you must contact us immediately on 1300 55 72 72 or provide us with a completed Dispute Form when you identify a suspicious transaction - ideally this should be within 60 days of the transaction date.
• In order for us to act on your behalf, we need you to provide us with all the available information and supporting documentation along with the Dispute Form signed by the account owner.
• Once we receive your Dispute Form and supporting documentation, we will liaise directly with the merchant's bank to request a copy of the transaction voucher if appropriate (charges may apply) or a reversal of the charge.
  In the case of Mail or Telephone Order transactions, or PIN@POS, there is no 'transaction' voucher.
• The merchant's bank will respond with either a copy of the voucher, a reversal of the charge or a request for more information. We will contact you by mail if further information is required - please ensure that you respond within the timeframes as advised on the correspondence to ensure that we can continue your transaction dispute.
• Dispute cases can take up to a maximum of 180 days depending on the nature of the dispute, and it is important for you to stay in contact with us and assist with the investigation until a resolution is achieved.

At BOQ we aim to make the experience as easy as possible by providing you with detailed information on the steps involved. Visa and Mastercard have set rules and timelines for the dispute process, which can sometimes take up to 180 days to resolve.

Unauthorised transaction, no knowledge of transaction, duplicate billing, non-receipt of goods or service not rendered, refund/credit not processed, goods returned to merchant or services cancelled but refund not processed, counterfeit merchandise, not as described or defective merchandise, cancelled recurring transactions, paid by other means, incorrect amount charged, incorrect transaction currency, cancelled merchandise/services, ATM discrepancy.