A daily payment limit applies to Pay Anyone payments made via Macquarie Online Banking or the Macquarie Mobile Banking app from your Macquarie accounts to other Australian bank accounts.

Account holders have a payment limit which is linked to their Macquarie ID. This includes joint account holders. The payment limit depends on the use of Macquarie Authenticator app, which is:
  • With Macquarie Authenticator, the daily transfer limit is $100,000 across all eligible accounts linked to the Macquarie ID
  • Without Macquarie Authenticator, the daily transfer limit is $5,000 across all eligible accounts linked to the Macquarie ID.

In the case of joint account holders, the applicable daily payment limit linked to the Macquarie ID will only reduce for the account holder who initiated the payment from the joint account by the amount of the transfer.

Example 1 – both joint account holders have the Macquarie Authenticator App

A joint account is held by Account Holder A and Account Holder B.

They both have the Macquarie Authenticator App and therefore both have a daily payment limit of $100,000 across all eligible accounts linked to their Macquarie ID, including their joint account.

If Account Holder A makes a payment of $20,000 from the joint account, Account Holder A will be left with a remaining daily payment limit of $80,000 across their eligible accounts.

Account Holder B however would still have their daily payment limit of $100,000 across their eligible accounts (and they haven’t made any other payments on any other eligible accounts they hold on the same day). However, Account Holder B would only be able to make payments of up to $80,000 from the joint account that day.

Example 2 – only one joint account holder has Macquarie Authenticator

A joint account is held by Account Holder A and Account Holder B.

Account Holder A has the Macquarie Authenticator App and therefore has a daily payment limit of $100,000 across all eligible accounts linked to their Macquarie ID, including the joint account.

Account Holder B however doesn’t have the Macquarie Authenticator App and has a daily payment limit of $5,000 across their eligible accounts linked to their Macquarie ID, including the joint account.

Account Holder B makes a $5,000 payment from the joint account, which means they have hit their daily payment limit for that day and can’t make any further payments from any of their eligible accounts under their Macquarie ID.

Account Holder A still has daily payment limit of $100,000 across the eligible accounts under their Macquarie ID, but they can only make payments of up to $95,000 from the joint account.

Example 3 – neither joint account holders have Macquarie Authenticator

A joint account is held by Account Holder A and Account Holder B.

Neither account holder has the Macquarie Authenticator App. Each have a daily payment limit of $5,000 across their eligible accounts linked to their Macquarie ID, including their joint account.

Account Holder A makes a $5,000 payment from the joint account, which means they have hit their daily payment limit for that day and can’t make any further payments from any of their eligible accounts under the Macquarie ID.

Account Holder B would still have their daily payment limit of $5,000 across their eligible accounts (assuming they hold other eligible accounts and haven’t made any other payments on the same day), however they wouldn’t be able to make any payments from the joint account that day.
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