If we make a mistake, we fix it

We’re dedicated to identifying and addressing mistakes to ensure we make things right for our clients in a consistent, timely, fair and transparent manner. This process is called customer remediation.

We’re also committed to learning and developing ways to prevent these mistakes from happening again. On this page, you’ll be able to find more information on what to expect if you’ve been impacted by a mistake we’ve made.

What happens if you're owed a refund?

When we identify money owed to you, we’ll try to get in touch with you to process the refund.

It's important to be aware of scams and at Macquarie keeping your accounts safe is our highest priority. We'll never ask you to transfer funds to another account and you should never share your passwords. Stay alert and read more about latest scams and how to stay protected on our security and scams page.

What information we need from you?

If you’re entitled to a refund and hold an open eligible account, no information or action is required from you. We’ll pay the amount directly into the open eligible account. Where the total refund amount is greater than $5, we’ll generally send you an email or letter outlining the remediation outcome.

If you’re entitled to a refund of greater than $5 and we’re unable to identify an open eligible account, we may send you a letter with a cheque enclosed to your last known address or get in touch with you via other appropriate means. If you’ve received a cheque, please deposit it as soon as possible.

If you’re entitled to a refund of $5 or less and we’re unable to identify an open eligible account, we may alternatively lodge it as unclaimed money where appropriate or make a payment to a charity or not-for-profit organisation registered with the Australian Charities and Not-for-profits Commission (ACNC).

Getting in touch with you

If we’ve made a few attempts to contact you but haven’t been able to reach you, and the funds cannot be returned or the cheque hasn’t been deposited, we may lodge it as unclaimed money where appropriate. Where the submission threshold for unclaimed money is not met under the relevant unclaimed money regime, we’ll make a payment to a charity or not-for-profit organisation registered with the Australian Charities and Not-for-profits Commission (ACNC).

If you later come forward to claim funds, you will remain eligible to claim the refund owed to you.

Paying tax on a remediation payment

Depending on the types of account and refunds involved, there may be tax (including GST) implications for you. We recommend you seek advice from your accountant, tax advisor or registered tax agent to determine the appropriate tax treatment. In some cases, we might also give tax documents to you, such as GST adjustment notes, which you should keep on file. The Australian Taxation Office (ATO) provides general information on compensation paid from financial institutions.

Need help?

If you have any questions or concerns about a remediation communication or payment you’ve received, you can get in touch with our team who are ready to help. Their contact details are on the relevant remediation communication we sent to you. Read more about how you can contact us.

Feedback or complaints

If you aren’t satisfied with the outcome, you can contact our Client Care team via our feedback and complaints page.

If you have raised your concerns with us, and you’re not satisfied with the outcome proposed or you believe that we have not resolved your complaint fairly, then you can request to have your complaint reviewed by the Australian Financial Complaints Authority (AFCA). The AFCA provides independent financial services complaint resolution that is free to consumers.

Website: www.afca.org.au
Email: info@afca.org.au
Telephone: 1800 931 678 (free call)
In writing to: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001

Start a live chat

Log in to Macquarie Online Banking or the Macquarie Mobile Banking app and chat with a consultant in real time, Monday to Friday, 9am to 5pm Sydney time (excluding public holidays).

Experiencing financial difficulty?

Please get in touch as soon as possible so we can work together to find the right solution for you.

Resolve a complaint

Everyone at Macquarie is committed to providing our clients with the highest standard of products and services available. If you have feedback we would like you to tell us about it.