Project bank account

What are Project Trust Accounts?

Project Trust Accounts (formerly Project Bank Accounts) are a framework of trust accounts that are required by the Queensland government for certain construction projects. 

They are designed to protect payments to contractors, as well as simplify administration for head contractors. 

Macquarie’s industry experts can help you set up your Project Trust Accounts.  For each project or contract you’re awarded, we’ll create a general trust account. We’ll also set up a retention trust account for your overall business. 

Features and benefits

Our years of experience mean we understand your obligations for Project Trust Accounts and your industry.

Dedicated support

You’ll have a dedicated relationship team – we specialise in your industry and can support you with confidence.

 

Transparency

All account details can be viewed online, and you can provide view only access to sub-contractors and other parties as required.1

 

Fees and charges

No establishment fees or monthly account keeping fees. For a full list of account fees and charges please read the PDS.

Improve efficiency

Once you’re set up with access to our Electronic Banking, you’ll be able to save time with same day online trust account opening and closing.

 

Monthly reporting

Statements are available online on the first day of the month to help you reconcile your accounts.

 

Get started

Speak to the bank that takes your business further. 

What’s next?

When you request a call, we’ll ask you a few quick questions so we can match you with the right industry specialist. They’ll get to know more about your business and your banking requirements before taking you through a range of solutions.

Existing customer?

If you're an existing Macquarie Business Banking client, please contact your relationship manager to learn more about Project Trust Accounts.

Frequently asked questions

Please read the product disclosure statement for deposit products and non-cash payment facilities.

Download PDS

When you request a call, we’ll ask you a few quick questions so we can match you with the right industry specialist. They’ll get to know more about your business before taking you through a range of solutions. You’ll then be able to compare your options and select the solution that’s right for you.

Switching banks can be a daunting task but we have a team dedicated to making it as simple as possible. They are experienced in transitioning businesses of all sizes and stages in their lifecycle, including clients with complex banking arrangements.

Every business is different, so we take the time to get to know you before developing a tailored solution. Rates and fees can vary based on how much you borrow, the type of security provided and the product you choose. Request a call to find out more.

Additional information

This information has been prepared by Macquarie Business Banking, a division of Macquarie Bank Limited ABN 46 008 583 542 AFSL and Australian Credit Licence 237502, and does not take into account your objectives, financial situation or needs. Before making any financial investment decision or a decision about whether to acquire a product mentioned on this page, you should obtain and review the PDS, terms and conditions or other offer document(s) relating to that product and also seek independent financial, legal and taxation advice. Target Market Determinations are available at our Design and Distribution hub.

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Electronic Banking required.