Everyday banking

To open a Macquarie Transaction Account you’ll need to download the Macquarie Mobile Banking app or complete our online application. We’ve designed this process to be as quick and easy as possible, so that you can start using your account straight away. Before we can open your account, we’ll need to verify your identity and may ask you for some additional information. We recommend reading our terms and conditions before applying.

To apply for a Macquarie Transaction Account:

1. Go to macquarie.com.au and select Everyday banking
2. Under Transaction Account, click Find out more
3. Select Open an account.

Or

Download the Macquarie Mobile Banking app from the app store.

If you need to pause your application partway through, we’ll send you an email so you can resume it when you’re ready.

Once you open a Macquarie Transaction Account, you can link a savings account in online banking by selecting Accounts and clicking Open an account in the menu.

A Macquarie Savings Account is available if you hold a Macquarie Transaction Account.

You can add one or more Macquarie Savings Accounts to your Macquarie Transaction Account during the application process, or in real time once the Macquarie Transaction Account has been opened.

For more information, please read our terms and conditions.

To add a Macquarie Savings Account once you’ve logged into Macquarie Online Banking:

1. Click on the Open an account button on the right, above your accounts table
2. Find the Savings Account option and click Open an account
3. Select Account type (single or joint)
4. Select Linked account
5. Add your tax file number if required, and select Open account.

Alternatively, you can:

1. Hover over the Transaction account on the accounts table
2. Click on I want to
3. Click on Open a savings account

To add a Macquarie Savings Account from the Macquarie Mobile Banking app:

1. Select the menu icon in the icon bar from the bottom right corner
2. Select Open an account
3. Select Let's do it
4. Select Account type (single or joint)
5. Select Linked account
6. Add your tax file number if required and select Open savings.

Alternatively, you can:

1. Select your Transaction account from the account list
2. Select the I want to button
3. Click on Open a savings account.

We don’t charge fees on Transaction Accounts, Offset Accounts or Savings Accounts.

We provide a refund on fees incurred at all ATMs in Australia.

We don’t charge fees to withdraw cash overseas or make international purchases. Other financial institutions, such as the banks of international merchants and international ATM operators, may charge you fees for these transactions.

We don’t have any deposit requirements on Transaction Accounts or Savings Accounts to get access to our great benefits and earn interest.

For example, you don’t need to make a minimum monthly deposit to use the platinum benefits or make ATM withdrawals without Macquarie fees.

To open a joint or shared Savings account, first you’ll need to open a joint Macquarie Transaction Account.

On the last step of the application form you’ll be asked if you want the Macquarie Transaction Account to be a single or joint account.

If you select joint account, you can either invite a second applicant to complete the application in their own time or complete the application together.

If the second applicant is already a Macquarie customer, they’ll receive a push notification in mobile or online banking and an email to approve or deny the application.

Yes. The Australian Government guarantees aggregated deposits with Australian authorised deposit-taking institutions, including Macquarie Bank, of up to $A250,000.

The Financial Claims Scheme (FCS) is an Australian Government scheme that was established during the 2008 global financial crisis to provide financial protection for consumers in the unlikely event of a failure of a bank, credit union, building society or general insurer.

The FCS provides protection for depositors of banks, credit unions and building societies that are incorporated in Australia (also known as authorised deposit-taking institutions or ADIs), for deposits up to $250,000 per account holder per ADI. The scheme aims to return deposits to account holders within seven days of activation of the FCS.

The FCS can be activated by the Australian Government in the unlikely event that an ADI or general insurer fails.

Once activated, the FCS will be administered by APRA.

The objectives of the FCS are to:

• protect depositors of ADIs, and claimants of general insurers, from potential loss in the unlikely event of the failure of these institutions;
• provide depositors with prompt access to their deposits that are protected under the FCS; and
• support the stability of the Australian financial system.

Further information about the Government Guarantee can be obtained from the APRA website at www.fcs.gov.au.