BOQ: APRA licence recorded for BOQ

BOQ charges no direct fee on foreign exchange contracts; its profit margin is built into the exchange rate it applies. Payments through BOQ SmartFX® and transfers into or out of a Foreign Currency Account carry no BOQ telegraphic transfer fee, although correspondent banks may deduct their own fees. Other international transfers cost $20 to send through Internet Banking, $30 in a branch and $10 to receive into an Australian dollar account.

BOQ says PayID and Osko payments should be processed almost instantly, although times can vary, and RTGS payments submitted before 4.00pm Sydney time reach the payee's bank within about 120 minutes. A transfer to another Australian bank made before 5.00pm AEST on a business day is credited by the next business day, otherwise by the second business day. Most international telegraphic transfers arrive within 1 to 3 business days, while some countries, such as India, take longer.

Money can be paid into a BOQ account by transfer to its BSB and account number from any Australian bank, by PayID and Osko for accounts in the myBOQ app, by RTGS or international telegraphic transfer, or in cash at a BOQ branch or, with a BOQ debit card, at over 3,400 Australia Post outlets through Bank@Post™. Withdrawals use the same channels, plus BOQ ATMs and EFTPOS cash out. BOQ does not fund accounts by card, and accounts in the myBOQ app cannot send or receive SWIFT payments.

BOQ SmartFX® is for business customers with a genuine foreign currency need, such as international payments or currency hedging. A business needs a linked BOQ transactional account (an Everyday Business Account with Internet Banking access), registration with BOQ Financial Markets and dealing authorisation. BOQ says a business can keep its main banking elsewhere and that businesses new to BOQ can apply.

BOQ publishes no leverage, because its website offers no margin forex or CFD trading account. Its foreign exchange contracts, including forward and swap contracts, are payment and hedging tools for business customers, dealt through BOQ's Financial Markets team or BOQ SmartFX®.

BOQ is the brand of Bank of Queensland Limited, ACN 009 656 740 (ABN 32 009 656 740), an Australian bank. ASIC Connect lists the company as incorporated on 2 September 1887, with its registered address at Level 3, 100 Skyring Terrace, Newstead QLD 4006, as checked on 28 October 2026; the BOQ brand traces its history to 1874. BOQ's privacy policy also covers group companies including BOQ Finance (Aust) Limited, BOQ Credit Pty Limited, BOQ Funding Pty Limited, BOQF Cashflow Finance Pty Ltd and BOQ Equipment Finance Limited, and BOQ Specialist is a division of Bank of Queensland Limited.

BOQ's terms name no country it refuses, but its products are built for clients in Australia. Its online account application requires Australian citizenship or residency with an Australian residential address and mobile number, and its Foreign Currency Facilities Product Disclosure Statement is intended for clients in Australia only. BOQ says non-residents can still open a myBOQ account by calling 1300 55 72 72 and providing additional identity documents.

BOQ's website offers no retail forex or CFD trading account. Its foreign exchange products, set out in its Foreign Currency Facilities Product Disclosure Statement (October 2025), are foreign exchange contracts, forward exchange contracts, foreign exchange swap contracts and Foreign Currency Accounts, which BOQ presents as payment and hedging tools for businesses. Business customers deal through BOQ's Financial Markets team or the BOQ SmartFX® platform.

BOQ's general enquiries line, 1300 55 72 72, is open Monday to Friday 8am to 8pm and Saturday 9am to 5pm, Australian Eastern time, and callers outside Australia can use +61 7 3336 2420. Outside those hours BOQ still takes calls about critical services such as lost or stolen cards and fraud or scam reports. myBOQ customers can also chat with an agent in the myBOQ app; support is in English, and BOQ arranges a free interpreter on request.

BOQ's Foreign Currency Account has no minimum balance and no account-keeping fee, according to its Foreign Currency Facilities Product Disclosure Statement (October 2025). It is a business account opened through a BOQ Financial Markets representative or on 1800 34 39 39, and it takes no cash or cheques: money moves in and out through the Financial Markets team or BOQ SmartFX®. BOQ's personal bank accounts can be applied for online by Australian citizens and residents with an Australian address and mobile number; non-residents are asked to call 1300 55 72 72 and provide additional identity documents.

BOQ offers one foreign exchange platform, BOQ SmartFX®, which runs on the web inside BOQ Internet Banking and is for business customers. Businesses use it to book exchange rates and forward exchange contracts, place limit orders and pay overseas beneficiaries in 12 currencies. BOQ publishes no MetaTrader or other retail trading platform; the myBOQ app and BOQ Internet Banking are banking services, not trading platforms.

Yes, Bank of Queensland Limited is regulated in Australia. ASIC's register showed its Australian financial services licence 244616 as current, effective since 10 March 2004, and APRA's register lists it as an authorised deposit-taking institution, a licensed bank; both were checked on 28 October 2026. Eligible deposits with BOQ are covered by the Financial Claims Scheme up to A$250,000 per account holder across all BOQ Group brands. BOQ is a bank rather than a trading broker, though: it offers no leveraged forex or CFD trading, and its foreign exchange products are payment and hedging tools for business customers.