Our Everyday Plus account


The everyday account that’s more rewarding

Our Everyday Plus account allows you to earn Qantas Points or Velocity Frequent Flyer Points on your daily transaction account balances.

There are no establishment or account keeping fees and you can redeem your Qantas Points or Velocity Frequent Flyer Points for flights, holidays and more. It’s an everyday account that’s more rewarding.


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Everyday Plus account features:

  • Earn 1 Qantas Point or 1 Velocity Frequent Flyer Point for every $20 of daily average balance in your account, calculated at the end of each month and paid on balances up to $100 000*
  • No establishment or account keeping fees
  • Free ATM withdrawals at all Australian Bank branded ATMs, as well as at ATMX terminals
  • Savings up to $250 000 are covered by the Government's Deposit Guarantee
  • Support from our Client Service Centre 24 hours a day, 7 days a week

 

How are Rewards Points earned on the Everyday Plus account?

You will earn 1 Qantas Point or 1 Velocity Frequent Flyer Point for every whole $20 making up the average daily balance calculated at the end of each calendar month, paid on balances up to $100 000. 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 $20, up to balances of $100 000 so in this example the average monthly balance contains 377 whole amounts of $20 being $7 540. No points accrue on the $17.63 remainder. Therefore 377 reward points will be awarded for the month of June.

Talk to one of our financial specialists today for more information
 

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  • Important Information

      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.

      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.

      #Everyday Plus Account
      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. Points will be earned on positive account balances in accordance with the BOQ Specialist Everyday Plus Qantas Rewards Program Terms and Conditions.

      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, as amended from time to time. 

      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.