BOQ Money Market Deposit Accounts
The Account is a cash management style bank account issued by Bank of Queensland Limited (BOQ, the Bank).
It is a facility that efficiently manages and monitors your investment cash-flow with a competitive rate of return, including the ability to switch funds between Call and Term Deposit Accounts without the need to complete additional paperwork.
- Receive Dividends
- Rent Receipt
- Loan Payment
BOQ Money Market Deposit Accounts
- No additional
- Receive Dividends
- Pension Payments
Features & Benefits
- Interest accrued daily, paid monthly on the entire account balance
- No minimum deposit, withdrawal or balance
- No account keeping or management fees
- Online Services (internet banking)
- Periodical payments, electronic funds transfers, BPay, direct debit, bank cheques and RTGS payments
- Regular savings plans, salary deductions, interest and dividend payments
- Built-in term deposit option
- Data feeds, real-time settlement facilities and reporting capabilities for your adviser
- Minimum deposit $5,000
- Transfer directly from your call account, no further paperwork required
- Terms available from 31 days – 5 years
|Request type||Time (AEST)|
|Electronic Funds Transfer|
Processed by DDH
Processed via Online Services
Processed by DDH
Processed via Online Services
|Bank Cheques collected at branch|
60 mins after lodgement
Time dependent on receiving country
|All other withdrawals processed by DDH||12 noon|
|Direct debits (inwards)||2.00 pm|
|Term Deposit Maturity Instructions||4.30 pm|
Times represent every business day that is not a National Public Holiday
To ensure the security of your account, we require your signature on each administration form. Forms can be returned to us via email.
|Account Nomination Form||Add or replace frequently used accounts to your Online Services (internet banking) profile|
|Adviser Fee Authority Form - Adviser Directed||Authorising your adviser to withdraw their fees from your account (at any frequency and/or amount)|
|Adviser Fee Authority Form - Client Directed||Authorising the payment of adviser fees from your account at a nominated frequency and amount|
|Account Application Form||Open a new BOQ Money Market Deposit Account (you must also read the product Terms and Conditions document)|
|Appointing/Changing Financial Adviser Form||To appoint or change a Financial Adviser/Stockbroker (including Level of Authority) on your account|
|Appointing a Signatory Form||Appointing a new signatory to operate your account on your behalf|
|Change of Details Form||Update your contact details, address or primary account contact|
|Change of Web Limit Request Form||To increase your web limit|
|Dividend Instruction Form||Direct dividends or other interest payments to your BOQ Money Market Deposit Account|
|Declaration of Overseas Tax Status Form||Notify us of new/changes to your overseas tax status|
|Online Services Registration Form||Register, or update existing internet banking permissions and authorisations|
|Open Banking Data Sharing Form for Business Entities||To nominate representatives authorised to share your business account data|
|Overseas Cheque Deposit Declaration||Depositing foreign currency cheques|
|Periodic Payment Authority Form||Create, amend or cancel a regular payment from your Account|
|Regular Savings Plan/Direct Debit Form||To start a regular savings plan, amend your existing plan details, or cancel your plan|
|Third Party Data Authority - Class Technology||Establish data feeds to Class Technology|
|Third Party Data Authority - SuperMate||Establish data feeds to SuperMate|
|Third Party Full Access - CMC Markets||Establish full access to CMC Markets|
|Third Party Full Access - Open Markets||Establish full access to Open Markets|
|Withdrawal Form||Requesting DDH to make a payment from your Account|
|Withdrawal Form - Overseas Transfer||To withdraw funds from your Account and pay to an overseas account via TT|
|What is the BSB for my BOQ Money Market Deposit Account?||124-001|
|How do I electronically transfer funds into my Account?||From any institution, except BOQ
From another BOQ Account
|How do I know the interest rate on my Account?||Your interest rate is stated on your transaction statements, issued at least every 6 months.|
|How do I register for Online Services?||You can register, or change the level of your internet banking access either on your initial application form, or subsequently by completing and returning the Online Services Registration Form.|
|Can I make deposits at BOQ branches?||You may deposit cheques at any Bank of Queensland branch, during their normal business hours. Please present your cheque with your personalised deposit book to the customer services representative. To obtain a free personalised deposit book, please contact us during business hours. Please note that cash is not able to be accepted.|
|Why have I received an SMS or email alert?||For your added protection, from time to time you may receive notifications from DDH. An example being a transaction from your account to a third-party recipient. You do not need to respond to these alerts, however please contact DDH immediately if you are not aware of the subject of the alert, or think you may be the subject of a fraud attempt.|
|Who can I contact if I need help?||You can either view your full accounts details online, contact your adviser, or our friendly support staff during business hours on 1800 006 133 or from overseas +61 7 3229 6133.|
The Consumer Data Right (CDR) and Open Banking
What is Open Banking?
In 2018, the Australian Competition and Consumer Commission (ACCC) announced the introduction of the Consumer Data Right (CDR). CDR has been introduced to give consumers (both individuals and small businesses) better access and control over their personal data.
Open Banking is the implementation of CDR in the banking sector. Within Open Banking, consumers can opt-in to share their personal banking data securely with accredited service providers. Service providers may include other banks, Fintechs or third-party financial providers that have completed a rigorous, CDR accreditation process which is overseen by the ACCC.
What does Open Banking mean for me?
By giving customers the choice to share their personal financial data, Open Banking aims to give customers greater choice, control, and convenience. It will enable customers to compare products and services quickly and easily, and access new products and offerings that are specifically tailored to them and their needs.
How do I get started?
To start sharing your banking data with an accredited service provider, simply follow the service provider’s instructions and select DDH Graham in the list of data holders. You will be asked to provide your Customer ID and then sent an SMS one-time password to verify your identity. Note that you will never be asked to enter your password when sharing your data using Open Banking. For further details, see the frequently asked questions section below.
Data Holder and data sharing
- What is a data holder?
Data holders are data givers under the Consumer Data Right (CDR). These are the providers who currently hold consumer data. Registered Data Holders are required to share customer data with a nominated Accredited Data Recipient when a customer directs them to.
- What is an accredited provider?
An accredited provider is one which has successfully undergone the Australian Competition and Consumer Commission (ACCC)’s accreditation process to become an Accredited Data Recipient (ADR).
Data recipients are data receivers under the Consumer Data Right (CDR). These are the providers who receive a consumer’s data after the consumer has given their consent. The data recipient will then use this data to offer a service the consumer has requested (e.g. comparison of products).
Only accredited providers can operate within Open Banking and offer services under CDR.
- How do I know who is an accredited provider?
Consumers can confirm if a provider is accredited by viewing the list of current accredited providers on the official Consumer Data Right (CDR) website. As CDR has only recently launched in Australia, there are currently only a limited number of accredited providers. As CDR grows over time, more and more providers will become accredited.
- Joint Accounts
For joint account data sharing, all joint account holders must be:
- Individual or sole trader customers
- legal owners of the joint account
- eligible to participate in data sharing
- Secondary Users
For secondary user data sharing:
- All account owners, and secondary users seeking to share data must be eligible to share data as per the criteria above
- Secondary users seeking to share data must be able to transact on the account*
- An account owner must enable data sharing for secondary users via the Customer Dashboard
*Note that power of attorney relationships are not secondary users.
- Non-individuals (business entities)
For non-individual (business) data sharing:
- Within Open Banking non-individuals / organisations can authorise a Nominated Representative to share the business entity’s banking data with accredited service providers.
- Nominated Representatives must be eligible to share data as per the criteria above and be a signatory on at least one of the accounts attached to the business entity. For more information, please see ‘How do I add and remove a Nominated Representative for data sharing on behalf of my organisation?’.
- Currently, single non-individual entities (which may include a trading name or a trust) are able to share data via a Nominated Representative.
- Accounts that are jointly owned by one or more individuals and/or involve multiple non individual entities (e.g. an account owned by two companies) are not eligible under the Consumer Data Right rules.
- How do I manage data sharing for my account(s)?
Once you have authorised sharing of your personal data, you will receive access to your Customer Dashboard. Through this dashboard, you can view each of your data sharing consents, including the accredited providers that you have consented to share your data with, the specific accounts shared with each provider, and the period you have nominated for each data sharing consent. You can easily manage your consents through this dashboard.
- How do I know if another joint account holder is sharing the account data?
Whenever a new data sharing consent is given, is revoked, or expires, all joint account holders will be notified on their data sharing dashboard. You can always see what data is being shared in your Customer Dashboard.
- How do I know if a secondary user is sharing the account data?
Note that notifications for secondary user data sharing are not yet available. However, you can always see what data is being shared in your Customer Dashboard by clicking Sharing started by others.
- How do I add and remove a Nominated Representative for data sharing on behalf of my organisation?
To add or remove a Nominated Representative, the authorised representative[s] of the business entity must complete the Open Banking – Data Sharing Form for Business Entities and return / email to firstname.lastname@example.org.
- Once authorised, the Nominated Representative will be able to share all accounts associated with the business entity, even those they do not have signing authority on.
- Once removed, the Nominated Representative will not be able to share data on any accounts associated with the business entity, and any active data sharing consents they have created for the business entity will be immediately revoked.
- Can my business or organisation have more than one Nominated Representative?
Yes. Authorised representative[s] of the business entity may add multiple Nominated Representatives.
- How do I know if a Nominated Representatives is sharing the account data?
Nominated Representatives may view and manage all data sharing consents that they or another Nominated Representative have created on behalf of the business entity via the Customer Dashboard at any time.
Note that only authorised Nominated Representatives have access to the Customer Dashboard to view and revoke data sharing consents on behalf of the business entity.
Giving consent and the data sharing experience
- I want to give three banks access to my DDH Graham Data. Does this require three separate consents?
Yes. You will need to provide a consent for each Accredited Data Recipient (ADR).
- Where can I find more details on any ‘terms and conditions’ for data sharing?
This responsibility largely sits with the Accredited Data Recipient (ADR), who is required to provide a clear declaration of data usage. Please contact the relevant ADR for further information on this.
Note that the DDH Graham’s Customer Dashboard has been designed to meet Data Holder obligations of Open Banking.
One Time Password (OTP)
- I have been blocked due to too many failed login attempts. Can I be unblocked so that I can access the dashboard?
There is no ability to unblock a customer before the 24-hour period. If you have failed the maximum login attempts to access your dashboard and have been blocked, you will need to wait 24 hours until the block is removed before you can try again.
- Can the One Time Password (OTP) be emailed?
The OTP will be sent via SMS to customers who have a valid mobile number registered with BOQ. The OTP will only be sent via email in the instance that BOQ does not have a valid mobile number registered for a customer.
- Under what circumstances would DDH Graham or BOQ manage consents on behalf of a customer?
Under the Consumer Data Right (CDR) rules:
- Customers can request that a Data Holder revoke a consent e.g. via a call centre. This may be as the customer is unable to do it themselves. A Data Holder has an obligation to revoke consents for customers who have requested the Data Holder to do so
- A Data Holder has an obligation to revoke consents for customers who are not eligible anymore e.g. no longer a customer
- An authorised staff member can suspend (i.e. temporarily block) a specific account from consent. e.g. for the prevention of physical, psychological or financial harm or abuse to any person
- In the event that a customer is deceased
- In the event that fraudulent activity has been detected
- How immediately will changes to my data sharing consent(s) be reflected in the Customer Dashboard?
Updates to data sharing consents that are made via the Customer Dashboard will be reflected immediately.
- How immediately will any data corrections/updates be reflected in the Customer Dashboard?
Please allow up to 24 – 48 hours for data corrections/updates to be reflected in your dashboard.
- How do I revoke a consent I created?
You may revoke a data sharing consent at any time:
- Access your Customer Dashboard
- Click Sharing started by you and follow the prompts to stop sharing.
- How do I stop joint account data sharing on a consent created by another joint account holder?
You may stop data sharing for a specific joint account within a consent created by another joint account holder at any time. Note: you are only able to view accounts within a consent where you are a legal owner of the account. This action will not prevent joint account holders from creating new consents that may include the joint account*.
- Access your Customer Dashboard
- Click Consents provided by another account holder and follow the prompts to stop sharing.
- A notification will be sent to all joint account holders via the Customer Dashboard that data sharing has stopped.
*If you would like to disable data sharing on an account for all current and future data sharing consents please refer to:
- How do I disable a joint account for data sharing?
You may disable a joint account for data sharing at any time. This action will disable data sharing on the account for all joint account holders and secondary users:
- Go to Accounts management > Joint accounts and disable the joint account by following the onscreen prompts.
- We’ll send the other joint account holder a notification to the Customer Dashboard that data sharing for the joint account has been disabled.
- How do I enable a joint account for data sharing?
Eligible joint accounts are available for data sharing by default, so you won’t need approval from other joint account holders to share data with accredited providers. However, if you or any other account holder have disabled your joint account for data sharing it will need to be re-enabled before data can be shared.
To enable data sharing:
- Go to Accounts management > Joint accounts and enable the joint account you want to share by following the onscreen prompts.
- We’ll send the other joint account holder a notification to the Customer Dashboard asking them to approve or decline your request.
- Each Joint Account holder will need to log in to their Customer Dashboard to view the notification* and approve the request to enable data sharing for the joint account.
- If all joint account holders approve the request, your joint account will be enabled for data sharing and you will be able to select it from the list of accounts eligible for data sharing when creating a new consent.
*The notification will expire after 30 days. If the other joint account holders do not approve the request during this time, you will need to repeat the process from Step 1.
- How do I enable secondary user data sharing on my account?
Data sharing permissions for secondary users must be enabled by an account owner via the Customer Dashboard. Account owners may choose to enable data sharing for all eligible secondary users per eligible account.
To enable data sharing for secondary users as an account owner:
- Go to Accounts management > Secondary users and enable the account for secondary user data sharing by following the onscreen prompts. Note that this action enables data sharing for all eligible secondary users on the account, including secondary users subsequently added to the account.
Note that notifications for secondary user data sharing are not yet available.
- How do I disable secondary user data sharing on my account?
Eligible accounts are disabled for secondary user data sharing by default. However, if an account owner has previously enabled secondary user data sharing, any account owner may disable the account for secondary user data sharing at any time via the Customer Dashboard. This action will disable data sharing for all eligible secondary users on the account:
- Go to Accounts management > Secondary users and disable the account by following the onscreen prompts.
Note that notifications for secondary user data sharing are not yet available.
- How do I stop non-individual data sharing on a consent created by another Nominated Representative?
Nominated Representatives may view and manage all data sharing consents that they or another Nominated Representative have created on behalf of the business entity by logging into the Customer Dashboard at any time.
- Log in to the Customer Dashboard. If you have data sharing consents for your personal DDHG accounts, you will be required to select the profile* of the business entity after logging in. You may then revoke any active data sharing consents on behalf of the business entity by following the onscreen prompts. Note that this action will not prevent a Nominated Representative from creating new consents with the accredited provider.
*Profile selection will only be displayed at log in when a customer has access to more than one profile for Open Banking. For example, you may be asked to choose between profiles such as ‘Myself’ (for your personal accounts) or ‘Company A’ (as a Nominated Representative). The profile you choose will filter which accounts and consents you will see. You may switch between profiles by clicking the Home button in the Customer Dashboard.
- How do I enable or disable data sharing for my business entity / organisation?
Non-individual data sharing is disabled by default. Within Open Banking non-individuals / organisations can authorise a new Nominated Representative to share business entities banking data with accredited service providers or remove an existing Nominated Representative by completing the Open Banking – Data Sharing Form for Business Entities. For more information, see ‘How do I add and remove a Nominated Representative for data sharing on behalf of my organisation?’.
- How long after revoking a consent will my data sharing stop?
Changes due to revoking consent are managed ‘real time’ and will be reflected immediately.
- If I had revoked a consent but have now changed my mind, can this consent be reinstated?
No, you are unable to reinstate a revoked consent, as revoking a consent stops the sharing of data. You will need to grant a new consent via the Accredited Data Recipient (ADR).
- Can I revoke a ‘pending’ consent?
Yes. You can revoke a pending consent.
Inactive and expired consents
- How long can I view inactive consents under ‘Consent History’?
The Customer Dashboard will show 2 years of history, however DDH Graham and BOQ will retain consent information for an additional 5 years.
My Customer Dashboard
- How do I access my customer dashboard?
The Customer Dashboard can be accessed from the DDH Graham public website.
- How will my account name(s) appear in the customer dashboard?
Your ‘account names’ will not be visible in the customer dashboard. Instead, the ‘product category’ will be displayed (e.g. ‘savings account’).
- Where can I see the data that I have consented for DDH Graham to provide?
DDH Graham’s Customer Dashboard will provide you with visibility of the account(s) that you have shared, the providers you have shared your data with (Accredited Data Recipients), and the last 4 digits of these accounts. Transaction data is not displayed.
- Why can’t I see all accounts that I have with DDH Graham in the dashboard?
Customer dashboards are consent focused. If there is no consent associated with an account, it will not be displayed in the dashboard. Additionally, not all products and account types are currently in scope.
For joint accounts, data sharing is only available if all joint account holders are legal owners of the account and eligible for data sharing.
For secondary user data sharing, data sharing is only available if an account owner has enabled secondary user data sharing for the account via the Customer Dashboard.
For Nominated Representative data sharing on behalf of a business entity / organisation, data sharing is only available if the authorised representative[s] of the business entity have completed and submitted the Open Banking – Data Sharing Form for Non-individual entities. For more information, please see ‘How do I add and remove a Nominated Representative for data sharing on behalf of my organisation?’.
- Is there a mobile phone app available for the customer dashboard?
Currently the customer dashboard is browser based and optimised for mobile and desktop devices. At this stage, a dedicated mobile app is not planned.
- Is the customer dashboard designed with accessibility in mind?
Yes. Screens within the dashboard have been designed to meet accessibility requirements in the Consumer Data Right (CDR) standards, including colours, fonts and resizeability, to make sure we are meeting the needs of as many of our customers as possible.
Our policy explains how we manage data under the Consumer Data Right (CDR). CDR Policy
- Adviser Service Fee Account Nomination Form
- Adviser Fee Authority Form – Adviser Directed
- Adviser Fee Authority Form – Client Directed
- Appointing or Changing a Financial Adviser Form
- Online Services Registration – Advisers only
- Online Services Adviser Guide
- Online Services – Adviser Guide to Bulk Transactions
- ID Guide
- DDH Money Market Booklet
- BOQ Product Information Booklet