Opening a Transaction or Savings Account

To open (and keep open) a Macquarie Transaction or Savings Account, you must be over 12 years of age and have:

• a permanent Australian residential address
• an Australian mobile number, and
• a valid email address.

Transaction and Savings Accounts can only be opened by the account applicant under either individual or joint names. This means you can’t open a Transaction or Savings Account on behalf of another, even if you hold a Power of Attorney or Enduring Power of Attorney.

Before you can open a Transaction or Savings Account, we’ll verify your identity and may ask you for some additional information. See What you need to open a Transaction or Savings Account.

We recommend reading our terms and conditions before applying.

You can apply for a Macquarie Transaction or Savings Account using our online application, which we’ve designed to be quick and easy.

If you don’t already have a Transaction Account, you’ll need to open one before you can open a Savings Account. 

To open an account from our website:

1. Visit macquarie.com.au
   
2. Select Everyday banking
3. Under Transaction Account, click Find out more
4. Select Open an account and follow the prompts.

To open an account from our app:

1. Download the Macquarie Mobile Banking app
2. Select Start an application
3. Select Open an account and follow the prompts.

You can apply for a Macquarie Transaction or Savings Account using our online application, which we’ve designed to be quick and easy.

If you don’t already have a Transaction Account, you’ll need to open one before you can open a Savings Account. 

To open an account in Macquarie Online Banking:

1. Log in to Macquarie Online Banking 
2. Select Open an account at the top of your accounts list 
3. Find the account option you want to open. You must hold an open Transaction Account before opening a Savings Account.
4. Select Open an account and follow the prompts.

To open an account in the Macquarie Mobile Banking app:

1. Open your Macquarie Mobile Banking app
2. Select the Accounts tab on the bottom left of your screen
3. Select Open an account at the bottom of your accounts list
4. Find the account option you want to open by scrolling left or right. You must hold an open Transaction Account before opening a Savings Account.
5. Select Open an account and follow the prompts.

You need to have a joint Transaction Account before you can open a joint Savings Account.

To open a joint account, you'll need to start an application as per the instructions set out in How do I open a Transaction or Savings Account?

During your application, you'll need to instruct us to open a joint account by selecting ‘Yes, open with someone’ when prompted. You can then choose to complete the application together, where both account holders must provide their own details and submit the application. Or you can invite your joint account holder to join your application and complete it in their own time.

During your application, you can choose to complete the application separately by inviting your joint account holder to complete the application at a time that suits them.

If the joint account holder is an existing customer, you’ll need to provide the following details within the application:

• first and last name
• date of birth
• email address linked to their current Macquarie profile, and
• mobile phone number.

They’ll then receive a push notification and email to approve or deny the application in their Macquarie Online Banking or the Macquarie Mobile Banking app. You'll also be able to view whether your joint account holder has approved or declined the request.

If your joint account holder is new to Macquarie Bank, provide their above details with their preferred email address. They will then receive an email and SMS with a unique code and instructions on how to join the application.

Please note, each joint account holder must provide their own email address and mobile number, these details cannot be the same.

To join an existing application in Macquarie Online Banking:

1. Visit macquarie.com.au
2. Select Everyday Banking and choose ‘Transaction account’ or ‘Savings account’
3. Select Open an account
4. Choose Resume or join an application
5. Enter your unique invite code 
6. Follow the prompts.

To join an existing application in the Macquarie Mobile Banking app:

1. Download the Macquarie Mobile Banking app
2. Choose Resume or join an application
3. Enter your unique invite code
4. Follow the prompts.

Once you’ve opened a Transaction or Savings Account, the structure can’t be changed. To open a joint account, you’ll need to open a new account with a joint applicant, following the steps above. You can then choose to close your individual account or keep it as a separate account.

We can only issue one debit card per account holder for Transaction Accounts (we don’t issue debit cards for Savings Accounts).