The following overview can help you better understand the difference between our Transaction and Savings accounts and see which one best suits your needs.

This is a digital-only account and therefore you must have internet access and an electronic device to operate this product.

Each type of account has further eligibility requirements which form part of the application process and terms and conditions.

Product Summary​Transaction Account​Savings Account​
Rates​
  • View all our rates here
  • High interest account with no minimum balance, deposit or transaction conditions.
  • View all our rates here
  • Welcome rate applies for the first 4 months on your first savings account.
  • High interest account with no minimum balance, deposit or transaction conditions.
Eligibility ​
  • Be at least 12 years old ​
  • Have a permanent Australian address, email and mobile number ​
  • Be applying as an individual (single or joint applications), not available to businesses,  trusts or SMSFs.
  • Be at least 12 years old ​
  • Have a permanent Australian address, email and mobile number ​
  • Be applying as an individual (single or joint applications), not available to businesses trusts or SMSFs.
  • Must be linked to your Macquarie Transaction Account​
Debit Card​
  • Debit card
  • No debit card
How can I make deposits?​
  • Electronic deposits
  • Direct credit and salary credits​
  • Real Time Payments (NPP)​
  • Australian cash and cheque deposits​
How can I access funds?​
  • Debit Card
  • Mobile Payments​
  • Internal Transfers
  • Pay Anyone Payments (including scheduled and recurring payments)
  • BPAY​®
  • Direct Debits​
  • Bank cheques
  • Internal Transfers
  • Pay Anyone Payments (including scheduled and recurring payments)
  • BPAY®​
  • Direct Debits​
  • Bank cheques
Interest rate calculation
  • Calculated daily, paid monthly​
Online Access​
  • Macquarie Online Banking
  • Macquarie Mobile Banking
Mobile payments
  • Apple Pay 
  • Google Pay 
  • No mobile payments
Additional Benefits
Monthly/Annual Fees​$0
Minimum Balance​$0

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Unless stated otherwise, this information is provided 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. Finance is subject to our credit approval criteria. Terms and conditions apply and may change without notice.

Apple Pay, 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 Pay, the Android Logo and Google Play are trademarks of Google Inc. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated. BPAY is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.

Other than MBL, none of the Macquarie Group entities referred to are authorised deposit-taking institutions for the purposes of the Banking Act 1959 (Cth), unless noted otherwise. Their obligations do not represent deposits or other liabilities of MBL. Unless otherwise stated, MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity.

© Macquarie Group Limited