Information and interest rates are current as at 23 March 2020 and subject to change.
0.35% pa
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Transaction account
An award-winning everyday transaction account with no fees and free access to every ATM in Australia.
Everyday banking with extra perks
Deposit your salary, withdraw cash, pay bills and get access to complimentary benefits.
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"I love that there’s no ATM fees"
Awarded for outstanding value
Our transaction account has been awarded for outstanding value thanks to features like no international purchase fees and refunds on fees incurred at all ATMs in Australia.
No fees, no deposit conditions
- No minimum monthly deposit.
- No international purchase fees*.
- No transaction fees.
- No dishonour fees.
Fee free ATMs
- We won’t charge you ATM fees anywhere in the world.
- Get free access to any rediATM in Australia and enjoy a refund on fees incurred at all other ATMs in Australia.
Platinum perks
- Receive the Mastercard foreign exchange rate, with no additional fees or charges.
- Access our 24/7 Concierge Service1.
Safe and secure
- Securely lock and unlock your Platinum Debit Mastercard in the Macquarie Mobile Banking app.
- Get 90-day theft and damage protection on eligible purchases and stolen wallet protection up to $5002.
More ways to pay
Add your Platinum Debit Mastercard to your mobile or wearable with Apple Pay, Google Pay, Fitbit Pay and Garmin Pay.
Open a multi-award winner
Start using our award-winning Macquarie Transaction and Savings Accounts3.
- Shopping discounts
- Added security
- Budgeting and saving
- Track spending
- Travel assistance
Shopping discounts
Discounts on eGift cards
- Get discounts of up to 10% on eGift cards to use at over 50 leading retailers across Australia with Macquarie Marketplace.
- Instantly purchase eGift cards from the palm of your hand and access them 24/7 through your account.
- Get access to Macquarie Marketplace with your transaction account.
Added security
Protect your account and personal information
- The Macquarie Authenticator app provides an extra layer of security that helps protect your account and personal information and is our most secure way to authenticate.
- It's a mobile app that sends actionable push notifications for you to approve or deny online transactions and account activity. There’s also an option to generate a unique one-time rolling code as an alternative authentication method.
Budgeting and saving
Tools for budgeting and saving
- Open a Macquarie Savings Account with just one tap in the app.
- Get to know your spending. Each time you make a transaction, it’s automatically categorised into groups such as groceries, travel, leisure or technology.
- Create smart budgets for anything in an instant, then see how you're tracking at a glance and over time.
Track spending
Transaction notifications
- Get the added security of real time notifications – opt in on your device.
- Whenever you make a transaction on your Macquarie credit or debit card, you’ll receive a push notification, so you know the correct transaction has been processed either instore or online.
- For foreign currency transactions, the alert shows the spend amount in local currency and Australian dollars.
Travel assistance
Digital tools for travelling
- When you log into the Macquarie Mobile Banking app at your overseas destination, the Travel Mode feature will reflect your location and the local exchange rate.
- You’ll also have quick access to our international support contact details.
- Easily lock and unlock your card in the app if your card is lost or stolen.
Rates and fees
The Macquarie Platinum transaction account is our basic low fee account.
Interest rates
Account fees
| Fee type | Fee amount |
|---|---|
Online payments Make internal transfers, pay anyone and BPAY® payments through online banking and mobile banking on an immediate or scheduled basis. |
Free |
Domestic ATM transactions If you’re charged a fee at a non-rediATM, we’ll refund it to your account. |
Free |
International ATM transactions Check your account balance and withdraw cash where your Debit Mastercard is accepted. |
We don’t charge fees to use ATMs overseas. You may be charged a fee by international ATM operators. |
International purchases Card purchases or transactions made or processed outside Australia. |
Free |
| Dishonour fees | Free |
Bank cheque Request a bank cheque issued by Macquarie with funds drawn immediately from your Transaction Account. Bank cheques can be requested by phone or at a Macquarie Branch. |
Free |
Card and transaction limits
| Transaction type | Limit |
|---|---|
| Daily limit for domestic ATM or other cash withdrawals | $2,000 daily |
Daily limit for purchases made by selecting ‘savings’ or ‘EFTPOS savings’ at EFT Terminals, and / or Cash out transactions made by selecting ‘savings’ or ‘EFTPOS savings’ at EFT Terminals |
$2,000 daily |
Daily Debit Mastercard transaction limit Purchases made online, by telephone or when selecting ‘Mastercard Debit’, ‘credit’ or ‘CR’ in stores |
Up to the available balance of your account |
| Mastercard contactless limit with no PIN | $100 per transaction |
Daily Funds Transfer limit For funds transfers between your Macquarie Accounts available via Electronic Banking there is no daily limit. |
$20,000 daily |
NPP Payment sub-limit This limit operates as a sub-limit of the $20,000 Daily Funds Transfer limit. |
$1,000 daily |
Daily BPAY limit Some billers may impose their own limits. |
Up to the available balance of your account |
Terms, conditions and documents
| Terms and conditions | Link |
|---|---|
| Macquarie transaction and savings accounts terms and conditions | View conditions |
| Macquarie electronic banking terms and conditions | View conditions |
| Macquarie variation notice | View conditions |
| Documents | Link |
|---|---|
| Macquarie platinum benefits | Download PDF |
How to apply
Open your account in just a few minutes.
Open an account if you:
- are aged 14 years or older,
- have a permanent Australian residential address, email and mobile number
- are an individual or joint applicant.
What happens next
- Your identity will be verified online securely and your account will be set up instantly
- We will confirm your bank account details and Macquarie ID by email
Frequently asked questions
To activate your card in Macquarie Online Banking:
To activate your card in the Macquarie Mobile Banking app:
If you’re a secondary cardholder, you’ll be able to activate your card after the primary cardholder has activated their card.
You’ll receive a confirmation message if the activation was successful. If it wasn’t successful, repeat the steps. If you’ve had three unsuccessful attempts, call us for assistance on 133 174 (+61 2 8245 4470), 24/7.
As soon as your card is activated, you can start using it to make purchases.
- Select Accounts from the side menu; or first click on the
icon in top left-hand corner to display the side menu
- Select the Activate card button
- Enter the last 8 digits of your debit card
- Select Next
- Enter the SMS safe code that has been sent to your mobile (If you have registered Macquarie Authenticator, you will be asked to verify from that device).
To activate your card in the Macquarie Mobile Banking app:
On Android:
- Select the card icon at the top of the front screen
- Press the picture of the card you wish to activate
- Select the Activate button
- Enter the last 8 digits of your debit card
- Enter the SMS secure code sent to your mobile
- Select Activate.
On iOS:
- Select the card icon at the bottom of the front screen
- Press the picture of the card you wish to activate
- Select the Activate button
- Enter the last 8 digits of your debit card
- Enter the SMS secure code sent to your mobile
- Select Activate.
If you’re a secondary cardholder, you’ll be able to activate your card after the primary cardholder has activated their card.
You’ll receive a confirmation message if the activation was successful. If it wasn’t successful, repeat the steps. If you’ve had three unsuccessful attempts, call us for assistance on 133 174 (+61 2 8245 4470), 24/7.
As soon as your card is activated, you can start using it to make purchases.
We accept cash deposits into Macquarie Transaction and Savings Accounts.
You can make cash deposits in person at the following Macquarie branches only:
These branches are open 8am – 5pm (AEST/AEDT), Monday to Friday (excluding public holidays).
You can make cash deposits in person at the following Macquarie branches only:
- Brisbane: Level 8, 825 Ann Street, Fortitude Valley, QLD
- Melbourne: Level 24, 101 Collins Street, Melbourne, VIC
- Sydney: 1 Shelley Street, Sydney, NSW.
These branches are open 8am – 5pm (AEST/AEDT), Monday to Friday (excluding public holidays).
The easiest and most efficient way to receive funds is via EFT transfer into your account. If you need to deposit a cheque, it can be deposited into the following accounts:
Posting a cheque to us
Depositing a cheque at a Macquarie branch
You can deposit a cheque by visiting one of our branch locations listed below. These branches are open 8am – 5pm local time, Monday to Friday (excluding public holidays):
Depositing a cheque at a NAB branch
Deposits at NAB branches are available for the following accounts only:
Please note:
- Macquarie Transaction Account
- Macquarie Savings Account
- Macquarie Home Loan
- Macquarie Home Loan Offset Account
- Macquarie Cash Management Account
- Macquarie Vision Cash Account
- Macquarie Consolidator Cash Account.
Posting a cheque to us
- Post the cheque/s with a completed deposit slip to Macquarie Bank Limited, GPO Box 2520, Sydney, NSW 2001.
Depositing a cheque at a Macquarie branch
You can deposit a cheque by visiting one of our branch locations listed below. These branches are open 8am – 5pm local time, Monday to Friday (excluding public holidays):
- Brisbane: Level 8, 825 Ann Street, Fortitude Valley, QLD
- Melbourne: Level 24, 101 Collins Street, Melbourne, VIC
- Sydney: 1 Shelley Street, Sydney, NSW.
Depositing a cheque at a NAB branch
Deposits at NAB branches are available for the following accounts only:
- Macquarie Cash Management Account
- Macquarie Consolidator Cash Account.
Please note:
- Deposits require a deposit slip from your pre-encoded deposit book. NAB can’t accept hand-printed deposit slips or NAB branch deposit slips
- Deposit books can be requested by calling us on 1800 806 310 (+61 7 3233 8111), 8am to 7pm (AEST/ADST) Monday to Friday, or by visiting a Macquarie branch
- We don’t offer encoded deposit books for our Vision Cash Account. Simply visit a Macquarie branch to deposit cheques or post the cheque with a completed deposit slip
- Foreign cheques can be posted to us using our Foreign Currency Cheque Deposit form or deposited at a Macquarie branch
- It generally takes three business days for Australian dollar cheques, including bank cheques, to clear.
Funds transfers
A daily payment limit of $20,000 applies to online funds transfers and payments from your Macquarie bank account to another Australian bank account. You can temporarily increase your daily limit to $100,000 by calling us on 133 174 (+61 2 8245 4470), 24/7.
If you have a Macquarie Cash Management Account or Macquarie Consolidator Cash Account, you can nominate an account by calling us on 1800 806 310 (+61 7 3233 8111), 8am to 7pm (AEST/ADST) Monday to Friday. Once this is loaded, you can transfer with no daily limit to the nominated account
There is no daily limit for electronic banking transfers between your Macquarie accounts.
BPAY®
Typically there is no limit on BPAY payments. Please be aware that some billers impose their own limits on the amount that they will accept in a single transaction or day.
A daily payment limit of $20,000 applies to online funds transfers and payments from your Macquarie bank account to another Australian bank account. You can temporarily increase your daily limit to $100,000 by calling us on 133 174 (+61 2 8245 4470), 24/7.
If you have a Macquarie Cash Management Account or Macquarie Consolidator Cash Account, you can nominate an account by calling us on 1800 806 310 (+61 7 3233 8111), 8am to 7pm (AEST/ADST) Monday to Friday. Once this is loaded, you can transfer with no daily limit to the nominated account
There is no daily limit for electronic banking transfers between your Macquarie accounts.
BPAY®
Typically there is no limit on BPAY payments. Please be aware that some billers impose their own limits on the amount that they will accept in a single transaction or day.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
You can’t change the daily ATM withdrawal limit for a Macquarie Debit Mastercard or a Macquarie Cashcard.
The daily ATM withdrawal limit applies for each of these products.
The daily ATM withdrawal limit applies for each of these products.
Lost or stolen card
If your card is lost or stolen, please let us know right away and we’ll cancel your card to protect your account and send you a replacement card as quickly as possible. In most cases, your new card will arrive in 5-7 business days.
Once you’ve reported your card lost or stolen, the card will be locked and you won’t be able to use it for transactions until you receive and activate your new card. You will need to update your direct debits with your new credit card number. Any additional cardholders on your account can continue using their card.
Call us to report a lost or stolen card and order a new one:
Misplaced Debit Mastercard
If you misplace your Debit Mastercard or Visa credit card, you can apply a temporary lock on your card to protect your account. This prevents new payments being made on your card, and in some cases may result in existing direct debits or authorised payments to be declined. You’ll need to review all direct debits and authorised payments connected to the account. You can unlock your card at any time.
To place a temporary lock on your card in Macquarie Online Banking:
To place a temporary lock on your card in the Macquarie Mobile Banking app:
If your card is lost or stolen, please let us know right away and we’ll cancel your card to protect your account. In most cases, your new card will arrive in 3–5 business days.
Misplaced Cashcard
If you misplace your Cashcard, call us on 1800 800 521 (+61 2 8245 4384), 24/7.
If your card is lost or stolen, please let us know right away and we’ll cancel your card to protect your account. In most cases, your new card will arrive in 3–5 business days.
If your card is lost or stolen, please let us know right away and we’ll cancel your card to protect your account and send you a replacement card as quickly as possible. In most cases, your new card will arrive in 5-7 business days.
Once you’ve reported your card lost or stolen, the card will be locked and you won’t be able to use it for transactions until you receive and activate your new card. You will need to update your direct debits with your new credit card number. Any additional cardholders on your account can continue using their card.
Call us to report a lost or stolen card and order a new one:
- Debit Mastercard: 133 174 (+61 2 8245 4470), 24/7
- Cash Card: 1800 800 521 (+61 2 8245 4384), 24/7.
Misplaced Debit Mastercard
If you misplace your Debit Mastercard or Visa credit card, you can apply a temporary lock on your card to protect your account. This prevents new payments being made on your card, and in some cases may result in existing direct debits or authorised payments to be declined. You’ll need to review all direct debits and authorised payments connected to the account. You can unlock your card at any time.
To place a temporary lock on your card in Macquarie Online Banking:
- Select Accounts from the side menu; or first click on the
icon in top left-hand corner to display the side menu
- Select the account
- Select the Lost or stolen card tab
- Toggle to Lock card.
To place a temporary lock on your card in the Macquarie Mobile Banking app:
- Select the card icon in the left side menu
- Scroll to the relevant card account
- Select Lock card
- Select Lock on the pop-up message.
If your card is lost or stolen, please let us know right away and we’ll cancel your card to protect your account. In most cases, your new card will arrive in 3–5 business days.
Misplaced Cashcard
If you misplace your Cashcard, call us on 1800 800 521 (+61 2 8245 4384), 24/7.
If your card is lost or stolen, please let us know right away and we’ll cancel your card to protect your account. In most cases, your new card will arrive in 3–5 business days.
Please contact us to close your account:
- Macquarie Cash Management Account: 1800 806 310 (+61 7 3233 8111), 8am to 7pm (AEST/ADST) Monday to Friday or send in a signed request to transact@macquarie.com
- Macquarie Consolidator Cash Account: 1800 806 310 (+61 7 3233 8111), 8am to 7pm (AEST/ADST) Monday to Friday or send in a signed request to transact@macquarie.com
- All other bank accounts: 133 174 (+61 2 8245 4470), 24/7
- Macquarie Credit Card: 1300 150 300 (+61 2 8232 1684) or via Macquarie Online banking, 24/7, by following the below steps:
- Click on your credit card account
- Select Account Details at the top of the screen
- Select Close Account. This appears on the right of the screen next to Account Summary.
- Macquarie Home Loan: 1800 007 722 (+61 2 8245 4383), 8.30am to 5.30pm (AEST/ADST) Monday to Friday
- Macquarie Wrap: Please contact your financial adviser for assistance. Your adviser will need to cancel any automated plans that you may have in place
- Macquarie Online Trading: Send a signed request to support@trading.macquarie.com
"I love the [push] notifications that tell you how much you've spent and when people deposit money."
Biancha
Inspiring better banking
Additional information
This information has been prepared by Macquarie Bank Limited AFSL and Australian Credit Licence 237502 (MBL) and does not take into account your objectives, financial situation or needs. You should consider whether it is appropriate for you.
Government Guarantee: The Australian Government guarantees aggregated deposits with Australian authorised deposit-taking institutions, including Macquarie Bank, of up to $A250,000. In September 2011 the Australian Government announced a number of changes to the Financial Claims Scheme (Government Guarantee). From 1 February 2012, a guarantee cap of $250,000 per account holder per institution will apply, subject to the continued advice of financial regulators that this remains appropriate. Further information about the Government Guarantee can be obtained from the APRA website at www.fcs.gov.au
Macquarie transaction and savings accounts are issued by MBL.
We don’t charge fees for card purchases or transactions made or processed outside Australia but others, such as the banks of international merchants, might.
Apple, the Apple logo & iPhone are trademarks of Apple Inc, registered in the U.S. and other countries. App Store is a service mark of Apple Inc.
Android, Google Pay, Google Chrome and the Google Logo are trademarks of Google LLC.
Fitbit, Fitbit Pay and the Fitbit Pay logo are trademarks or registered trademarks of Fitbit, Inc. in the U.S. and other countries.
Garmin, Garmin Pay and the Garmin Pay logo are all trademarks of Garmin Ltd. or its subsidiaries, registered in the USA and other countries.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
We don’t charge any fees in connection with our transaction and savings account products but others, such as other financial institutions, may. We will refund fees charged to you by domestic ATM operators in connection with domestic ATM transactions, but you’ll need to pay any other fee that you’re charged.
Concierge Services are provided by Aspire Lifestyles (Australia) Pty Ltd. Accessing concierge services is free but you must pay for the goods or services that you purchase through the service.
Wallet Guard and Purchase Security Cover are underwritten by Chubb Insurance Australia Limited (ABN 23 001 642 020, AFSL 239687) (Chubb) and are subject to the terms, conditions, excesses and exclusions contained in the Card Insurance Master Policy between Macquarie Bank and Chubb. This information does not take into account your objectives, financial situation or needs. It is important for you to read the Macquarie platinum benefits and consider the appropriateness of the insurances in relation to your individual requirements.
Our debit card is 5-star Canstar rated for Outstanding Value Travel Debit Card for 2019/2020.