Macquarie Bank Term Deposits

Macquarie has been a leader in cash management for three decades. Its cash management solutions are used by more than 400,000 investors and more than 10,000 financial advisers. Macquarie has built this position through exceptional service and innovative features and functionality.

Macquarie Bank is an Authorised Deposit taking Institution (ADI), like the other retail banks in Australia. ADIs are regulated under the Banking Act 1959 (Cth). Under the Banking Act, if an ADI becomes unable to meet its obligations, its first priority is to meet its deposit liabilities. This means that all bank deposits rank ahead of equity investors and other creditors.

Macquarie offers a range of terms, from one to 24 months. The interest rate varies depending on the term you choose. You should consider when you will need to access your funds and what interest rate you want to earn before choosing a term.

You can ask to access your investment before the end of the term. This is at Macquarie Bank’s discretion and a minimum a fee of $100 will be charged. Subject to the Terms and Conditions, the fee for withdrawing funds from your account before the designated maturity date will be based upon the timing of the withdrawal, the amount withdrawn and the interest accrued on that amount up to the time of the early withdrawal. Please read the full Terms and Conditions for further details.

When your deposit matures, you have a number of options. You can:

• rollover the capital and interest into another Term Deposit
• rollover the capital into another Term Deposit and have the interest paid out
• increase or reduce the size of your investment when it rolls
• have the principal and interest paid out into your nominated account

If you do nothing, your term deposit automatically rolls over for the same term at the rate of the day.

You can see your balance online, which is available 24 hours a day, seven days a week. To log in you'll need to enter both your Macquarie Access Code (MAC) and password. Alternatively you can call us on 1800 184 876.

When you apply for a Term Deposit, if you do not already have a MAC, one will be issued to you.

The rates are set each morning by Macquarie and updated on our website before 10am. The interest rate applicable on the Macquarie Term Deposit is the interest rate on the day of the account opening after all account opening conditions have been met and your investment received.

Once you have completed the application form, and have the relevant documentation, you can send this to us with a cheque made payable to 'Macquarie Bank Limited - [Insert Account Name]'.

If you prefer to transfer the money through phone or internet banking, you can do this once your account is set up, which will be within one to two business days of Macquarie receiving your completed application. We will contact you with the account details to allow you to complete the transfer.

Cash deposits will not be accepted.

We will open your account within one to two business days of receiving your completed application. This assumes all application requirements have been met.

The Macquarie Cash Management Account and Macquarie Bank Term Deposit online application is compatible with Internet Explorer 7 and 8, Firefox and Chrome internet browsers. If you are using Internet Explorer 6, you may experience some issues with how the application displays but it will not affect your application. Continue to complete your application and we will be in contact if any additional information is required.

On your browser, click 'Help' and select 'About Internet Explorer.' This will indicate which version of Internet Explorer you are using.

We will confirm your account details in writing by mail within five to 10 business days.

You will receive a notification approximately two weeks prior to maturity regarding your Term Deposit details with a slip at the bottom of the notification. You can use this slip to notify us of your instructions by fax or by post. 

Contact details are below:
Fax: 1800 618 293
Post:Level 1, 1 Shelley Street
         GPO Box 4023
         Sydney NSW 2001

The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 requires the collection and verification of specific information from clients.

You must supply an identification form unless you are an existing active Macquarie account holder. We may require further information from you from time to time in order to meet our obligations under AML/CTF Laws.

A certified copy is a document that has been certified as a true and accurate copy of the original document.

This can be done by approaching one of the authorised certifiers below. The authorised person should also print their name and position and if possible affix an official stamp.

• Legal Practitioner
• Judge of a Court
• Magistrate
• CEO of a Commonwealth Court
• Registrar or Deputy Registrar of a Court
• Justice of the Peace
• Notary Public
• Police Officer
• Agent of Australia Post
• Australian Consular or Diplomatic Officer
• Officer of Financial Institution (min. two yrs)
• Australia Post Employee (min. two yrs)
• Finance Company Officer (min. two yrs)
• Officer or Authorised Representative of Australian Financial Services Licensee (min. two yrs)
• Member of the Institute of Chartered Accountants, CPA Australia or the National Institute of Accountants (min. two yrs membership)

Term Deposit rates may vary daily. The rate you will receive on your deposit is the relevant rate on the day your funds are invested.

Unless investing by cheque, one of our client service consultants will contact you once your account has been setup to confirm the details of your investment, including the rate.

If investing by cheque you will receive the relevant rate on the day your cheque is received and banked by Macquarie.

You will also receive a physical confirmation of your investment within five to 10 business days of placing your Term Deposit.