A healthy dose
of 5 000 reward points to get you started
5000 Qantas Points or Velocity Frequent Points for students
Open a new Everyday Plus account and use your debit card 10 times on eligible transactions in the first 90 days of opening your account to earn 5 000 bonus Qantas Points+ or Velocity Frequent Flyer Points^.#
Our Everyday Plus account is the first transactional account in Australia to reward you with Qantas Points+ or Velocity Points^. There are no establishment or account keeping fees and you can redeem your Qantas Points+ or Velocity Points^ for flights, holidays and more.
Account features
- Earn 1 Qantas Point+ or Velocity Point^ for every $10 of daily average balance in your account, calculated at the end of each month*
- No establishment or account keeping fees
- Free ATM withdrawals at BOQ branded ATM’s as well as the four major banks Australia wide
- Access your money whenever and wherever you like, through online banking and mobile app
- 24/7 access to our Client Service Centre
Applying online is easy and only takes 5 minutes
Step 1: Select “Apply Now”
Step 2: Have your identification on hand (drivers licence, passport, Medicare card or birth certificate)
Step 3: Enter your details and provide your ID
Step 4: Get a confirmation email when we receive your application
How are Rewards Points earned on the Everyday Plus account?
You will earn 1 Qantas Point or 1 Velocity Point for every whole $10 making up the average daily balance calculated at the end of each calendar month. To determine the average daily balance for your account, add the closing balance from each day in the month together, and then divide the total by the number of days in that month.
Example:
Date |
Event |
Amount |
Daily closing balance |
Days at this balance |
1 June |
Opening balance |
$0 |
$0 |
2 |
3 June |
Deposit received |
+ $2 000 |
$2 000 |
2 |
5 June |
Deposit received |
+$400 |
$2 400 |
3 |
8 June |
Debit card transaction |
- $27 |
$2 373 |
2 |
10 June |
Salary paid into account |
+ $7 700 |
$10 073 |
15 |
25 June |
Transfer out |
- $125 |
$9 948 |
6 |
30 June |
Month end |
|
$9 948 |
|
To calculate your average daily balance:
1) Add together the closing balance for each day in the month:
$0 x 2 for the first 2 days of the month before the first deposit was made = 0
+ $2 000 x 2 for the 2 days between the first and second deposit = 4 000
+ $2 400 x 3 for the 3 days where the balance was $2 400 = $7 200
+ $2 373 x 2 for the 2 days between the transaction and salary deposit = $4 746
+ $10 073 x 15 for the 15 days between the salary and the next transaction = $151 095
+ $9 948 x 6 for the final 6 days of the month = $59 688
___________________
= $226 729
2) Divide the total by the number of days in the month (30 in this example using June)
$226 729 / 30
= a daily average balance of $7 557.63
Reward points are awarded on whole amounts of $10, so in this example the average monthly balance contains 755 whole amounts of $10 being $7 550. No points accrue on the $7.63 remainder. Therefore 755 reward points will be awarded for the month of June.
More information
BOQ Specialist - a division of Bank of Queensland Limited ABN 32 009 656 740 AFSL and Australian Credit Licence no. 244616 (BOQ Specialist). Use of the information contained on this page is governed by Australian law and is subject to the Terms and Conditions which can be read by clicking here. View the BOQ Specialist Privacy Policy by clicking here.
The issuer of these products and services is BOQ Specialist - a division of Bank of Queensland Limited ABN 32 009 656 740 AFSL no. 244616 (“BOQ Specialist”). Terms and conditions, fees and charges and lending and eligibility criteria apply. Velocity Points are credited within 21 days of the end of the month.
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. You should obtain and consider the relevant terms and conditions before making any decision about whether to acquire the product. BOQ Specialist is not offering financial, tax or legal advice. You should obtain independent financial, tax and legal advice as appropriate. We reserve the right to cease offering these products at any time without notice.
^ To earn and redeem Velocity Points you must be a Velocity member. Velocity membership and Points earn and redemption are subject to the Member Terms and Conditions, available at velocityfrequentflyer.com, as amended from time to time. Velocity Points will be earned on positive account balances in accordance with the BOQ Specialist Everyday Plus Account Velocity Rewards Program Terms and Conditions. See definition of eligible transactions in the BOQ Specialist Velocity Rewards Program Terms and Conditions.
+ 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 positive account balances in accordance with the BOQ Specialist Everyday Plus Account Qantas Rewards Program Terms and Conditions. BOQ Specialist recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program. See definition of Eligible Transaction in the BOQ Specialist Qantas Rewards Program Terms and Conditions.
# To be eligible for the 5,000 bonus Qantas Points or Velocity Points offer, you must be a full time student enrolled in a medical, dental or veterinary degree at a recognised Australian University and apply for a new Everyday Plus Account, be approved and make 10 eligible transactions within 90 days of opening your account. Eligible transactions are goods or services from merchants accepting a BOQ Specialist Debit or Credit Card (including GST) or a transaction deemed by BOQ Specialist to be an eligible transaction. The bonus points offer is not available in conjunction with any other offer. Velocity Points and Qantas Points will be credited to the qualifying member account within two months of the tenth eligible transaction.
* To determine the average daily balance for your account, add the closing balance from each day in the month together, and then divide the total by the number of days in the month.