Viewing and managing Term Deposit maturity and instructions

Term Deposit maturity refers to the date at which your investment ends. The maturity date of your Term Deposit is selected when you open the account.

Before the maturity date of your Term Deposit, you can provide Term Deposit maturity instructions via Macquarie Online Banking or Macquarie Mobile Banking app. This will tell us whether you want to: 

• reinvest principal and interest
• reinvest principal only, or
• close your account and withdraw funds.

If you don't provide maturity instructions by the maturity date, your Term Deposit funds will be automatically reinvested for the same term.

To view your current maturity instructions in Macquarie Online Banking:

1. Hover on your Term Deposit account in the account list
2. Select I want to
3. Select Manage maturity instructions in the drop down menu.

To view your current maturity instructions in the Macquarie Mobile Banking app:

1. Select your Term Deposit account from the account list
2. Select the I want to button
3. Select Manage maturity instructions in the menu.

To provide maturity instructions in Macquarie Online Banking:

1. Hover on your Term Deposit account in the account list
2. Select I want to
3. Select Manage maturity instructions in the menu drop down
4. Select Change instructions
5. Follow the prompts and select Submit
6. That’s it! We’ve got your instruction and will process this when your Term Deposit matures.

To provide maturity instructions in the Macquarie Mobile Banking app:

1. Select your Term Deposit account from the account list
2. Select the I want to button
3. Select Manage maturity instructions in the menu 
4. Select Change instructions
5. Follow the prompts and select Submit
6. That’s it! We’ve got your instruction and will process this when your Term Deposit matures.
    

If you have provided maturity instructions to close your account and withdraw funds at maturity, all funds and interest accrued will be paid to your nominated bank account upon closure of your Term Deposit.

If no maturity instructions are received by the maturity date, your Term Deposit will automatically roll over for the same term. However, you will have a grace period of 5 business days or 7 calendar days (whichever is longer) from that maturity date to close your account and withdraw funds without incurring a break fee.

After your Term Deposit has matured, you will have a grace period of 5 business days or 7 calendar days (whichever is longer) to make certain changes to your Term Deposit details or close your account and withdraw funds.

These options will be presented to you in Macquarie Online Banking or Macquarie Mobile Banking app when your Term Deposit is in the grace period. If your Term Deposit is not in the grace period, these options will not be available.

Please note, if you previously provided maturity instructions to close your Term Deposit, you cannot make changes during the grace period and your Term Deposit will be closed at maturity.

To submit grace period instructions in Macquarie Online Banking:

1. Hover on your Term Deposit account in the account list
2. Select I want to
3. Select View account and term details in the menu drop down
4. In the Term details sections, select Change term details or Withdraw funds and close account
5. Follow the prompts and select Submit changes (to change term details) or Close account (to withdraw funds and close account).

To submit grace period instructions in the Macquarie Mobile Banking app:

1. Select your Term Deposit account from the account list
2. Select the I want to button
3. Select View account and term details in the menu 
4. In the Term details sections, select Change term details or Withdraw funds and close account
5. Follow the prompts and select Submit changes (to change term details) or Close account (to withdraw funds and close account).

We’ll begin processing your grace period instructions. These will generally be processed within 1-2 business days. We’ll notify you when this is complete.

All instructions, requests and notices in relation to your Term Deposit must be lodged before 2:30pm (Sydney time) to be processed on the same business day. This includes new applications to open a Term Deposit, maturity instructions, grace instructions and requests to close your Term Deposit before maturity.

If you’ve requested to close your account and withdraw funds prior to maturity, you can amend or cancel this request up until 2:30pm (Sydney time) on the business day before the day your funds are due to be disbursed.

Any requests which are unclear, incomplete or require additional information may not be processed on the same day. So please ensure all information is correct and up to date (including the details of your nominated bank account).

If you need to change the nominated bank account linked to your term deposit, please complete the Macquarie Account Nomination form. Please note, your new nominated bank account must be in the same account name and structure as your existing nominated bank account and your Term Deposit. Otherwise, we may not be able to process the account change.

You will need to provide the following additional documents along with your form:

• A copy of the account holder’s ID showing their signature
• Copies of bank statements (no more than 6 months old) for both the existing and new nominated bank account. Please ensure the BSB, account number and name of the account are all visible on the statements provided.

Please ensure you provide us with all required information, and that any information provided is correct and up to date (including the details of your nominated bank accounts). Otherwise, we may not be able to process the account change.