32 Day Notice Account | Locked savings

Why open a 32 Day Notice Account?

32 day prior notice to access funds

A savings account with funds available with 32 days' prior notice^*

Interest paid monthly

Interest calculated on daily closing balances and paid monthly

No monthly account keeping fees

Hold onto what you earn, with no establishment or monthly account keeping fees.

Government guarantee

Your money is protected by the government guarantee with up to $250,000 per person covered by the government’s Financial Claims Scheme.^~

Keep track of your investment

Use internet or mobile banking to keep tabs on your earnings.

Unlimited deposits

Continue adding to your 32 Day Notice savings account when it suits you. Make deposits as needed, without restriction.

Eligibility criteria{yellow-border}

To be eligible for a 32 Day Notice Account, please check you meet the following criteria:

be an Australian citizen, permanent resident, or resident with acceptable residency status
be 18 years or older, or
be an Australian registered corporation or association, or
be a trustee of an Australian discretionary, statutory, superannuation, unit or hybrid trust (the beneficiary and the trustee must meet the eligibility criteria of an individual or a corporation),
agree to the BOQ Specialist Transaction and Savings Account and Overdraft Facility Terms and Conditions and acknowledge that funds placed in a 32 Notice Account cannot be accessed without providing 32 days’ prior notice.

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Frequently asked questions

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Help and support

How does the 32-day notice period work?

Put excess funds in a locked savings account and maximise the interest it can earn. To access your money, just provide notice via the BOQ Specialist mobile app or online banking that you’d like to make a withdrawal. 32 days later, it’s back in your hands. The notice period helps curb impulse spending so you can stay focused on your savings goals.

How can I put in a request to withdraw my money from the 32 Day Notice Account through online banking?

1. Log into online banking.

2. Select the entity for the account to be debited from the entity manager widget on the home screen.

3. Navigate to the 'Help & Support' tab.

4. Select the 'Withdrawal from 32 Day Notice Account (payment into internal accounts only)' option.

5. Select the 32 Day Notice Account from which you want to withdraw funds from the dropdown.

6. Select the date on which the funds should be withdrawn from your 32 Day Notice Account (the start date for the notice period will be populated automatically once selected).

7. Select the amount you want to withdraw (full balance or specific amount).

8. Select the BOQ Specialist account in the same name as your 32 Day Notice account to be credited and the reference for the withdrawal.

What if I need my money sooner than 32 days?

In cases of financial hardship, you can request an immediate withdrawal of part or all of your deposit without providing the required notice period. Any early withdrawal or redemption requests will only be considered if the grounds for the request are based on hardship as assessed and agreed to by us.

Does the 32 Day Notice account accrue rewards points?

No, this account does not earn Qantas or Velocity rewards points. Rewards are offered on BOQ Specialist credit cards.

What happens if I change my mind after submitting a withdrawal notice?

You can cancel or modify your withdrawal request at any time during the 32-day notice period, if the funds haven’t been released yet.

Are there any fees or charges I should be aware of?

There are no ongoing monthly account-keeping fees or minimum balance requirements for the 32 Day Notice Account. All fees are outlined in the Banking products - fee schedule.