Australia-based Bank of Queensland (BOQ) has enhanced online banking capabilities by introducing foreign exchange payments via internet banking.

The newly launched feature will allow BOQ customers to create and send international and domestic telegraphic transfers (known as Real Time Gross Settlement (RTGS)) via internet banking.

BOQ Direct Banking head Craig Broomfield said that this new functionality is a welcome addition to the bank’s internet banking suite.

“Not only will customers be able to access/leverage all their existing telegraphic transfer history, but if they’ve negotiated a preferential rate, or previously used a telegraphic transfer template for branch transactions, these details will also be available via internet banking,” Broomfield said.

BOQ Treasury Products head Bruce Schmidt said that the deployed feature in the branch based payments system called iTAP (International Transfers and Payments), including databases for bank details and payment routing information, are all available in Internet Banking Foreign Exchange (IBFX) as IBFX is essentially a ‘plug-in’ to iTAP.