The Bank of Queensland VISA debit card is a VISA debit card that is available for a number of current and everyday accounts offered by the Bank of Queensland.
As a VISA card it is available to be used at a number of outlets in the same way that a credit card would be used, although the funds are taken from the everyday fund and so they can not get the high interest that is charged for credit card balances. There are 29 million shops and service providers that accept VISA cards around the world, and the payments are accepted as if they are in the currency in which the item is quoted. The VISA card can also be used to buy goods on the internet or over the phone.
As the card is a VISA card it is covered by the VISA zero liability guarantee. This means that if there is an unauthorized transaction on the card, whether through fraud or theft then the card holder does not have to suffer a loss as long as the card holder did not contribute to the loss of the card and that the unauthorized transaction is reported in a timely way.
As well as being a VISA debit card it can also be used as an EFTPOS card and it can be used to withdraw money from ATM machines. There is a monthly fee for the card, but it is set at $1 a month, which works out at $12 a year. This is a very low rate compared to many of its competitors.
There are a number of everyday accounts that the Bank of Queensland’s VISA debit card can be used with. These include the Reverse Charges Account, the Ultimate Account, the Mortgage Offset Account, the Pension Plus Account, the Bonus Interest Savings Account, the Cash Management Account and the Choice Account.
The Reverse Charges Account allows for free transactions for balances of $2,000 and a flat monthly fee below that, something similar is offered with the Pension Plus account. The Ultimate Bank account runs on a flat monthly fee and a certain number of fee free transactions, including on the debit card. The mortgage offset account is a savings account which means that there is no need to access mortgage overpayments through redraw facilities. The cash management account is for those customers with an investment account with the Bank of Queensland. The Bonus Interest savings account gives extra interest in a month when there have been no withdrawals.