All deposits to a Macquarie Term Deposit account are made via direct debit from a nominated bank account. The direct debit and nominated bank account are established during the account opening process.
Your nominated account will be direct debited on the day we open your account. Funds will appear in your term deposit the following business day.
To change a nominated account, please fill in the Macquarie Account Nomination form.
Please note, the account name on the old and new nominated accounts must match along with the name of your Term Deposit. Otherwise, we may not be able to process the account change.
Along with this form, please also attach:
a copy of the account holder’s ID showing their signature
bank statements for the old account and new nominated accounts (no more than 6 months old). The account name on both the old and new nominated accounts must match, along with the name of your term deposit.
Funds may be withdrawn on maturity and will be electronically paid to the nominated bank account unless an alternative bank account number is provided. If no instructions are received by the maturity date, your term deposit will automatically roll over for the same term at the applicable interest rate offered on that maturity date.
If you wish to withdraw funds prior to maturity you must usually provide us with 31 days’ notice. If you have less than 31 days remaining of your term, the earliest you can access your funds is at maturity. If you close your account prior to maturity, we will apply an interest adjustment. For further support including accessing funds before maturity, contact your financial adviser, or get in touch with a Macquarie consultant using live chat.
In cases of financial hardship the notice period may be waived.
To update your maturity instructions, see Term Deposit maturity and instructions.
