Opening an account for minors

A parent or guardian can't open a Macquarie Transaction or Savings Account on behalf of a minor.

Minors who are 12 years and older can apply for a Transaction or Savings Account in their own name, by completing an online application via Macquarie Online Banking or via the Macquarie Mobile Banking app.

We’ve designed this process to be quick and easy. Find out more about Opening a Transaction or Savings Account.

Before we can open an account, we must verify their identity. As part of this process, we may ask for some additional information. See What you need to open a Transaction or Savings Account.

Accounts under a formal trust arrangement that are established by a trust deed, can be opened for a minor of any age, up to 18 years old.

• To open a trust account, the account name must be in the structure of “Trustee/s ATF Trust” and each trustee must accept the terms of the CMA application.
• To complete an application, our standard account opening requirements will apply, and you’ll need to provide the following documents:
  • A copy of the Trust Deed  
  • All entities (except the minor) must complete individual Anti-Money Laundering/Counter Terrorism Financing forms.
• To open a testamentary trust account for a minor, refer to the unregulated trust section to find out what information is required.