Macquarie transaction and savings accounts interest rates, fees, limits and lodgement times

This document provides a summary of the interest rates, fees, limits and lodgement times applicable to the:

  • Macquarie Platinum Transaction Account
  • Macquarie Transaction Account
  • Macquarie Offset Account, and
  • Macquarie Savings Account.

Terms used in this document have the same meaning given to those terms in the Macquarie transaction and savings accounts terms and conditions.

You can ask us for more information on interest rates and fees.

Effective 4 October 2019

Interest rates

All interest rates below are current as at 4 October 2019, variable and subject to change. Refer to section 3 of the Macquarie transaction and savings accounts terms and conditions for further information on interest.

To view a snapshot of previous interest rates refer to the Macquarie transaction and savings accounts previous interest rates card.

Macquarie Transaction and Platinum Transaction Accounts

Stepped interest is payable on deposits in Macquarie Transaction and Platinum Transaction Accounts based on your balance as follows:

BalanceVariable Interest Rate
Up to $4,999.99 0.00% pa
$5,000 - $24,999.99 0.35% pa
$25,000 - $99,999.99 0.35% pa
$100,000.00 - $249,999.99 0.35% pa
$250,000 - $999,999.99 0.35% pa
$1,000,000 and above 0.35% pa

Rates are variable and subject to change. Each rate applies to the portion of the total balance that falls within that balance bracket. See section 3 of the Macquarie transaction and savings accounts terms and conditions for more information.

Macquarie Offset Account

There is no interest paid on deposits in Macquarie Offset Accounts.

Savings Account

Stepped interest is payable on deposits in Macquarie Savings Accounts based on your balance as follows:  

BalanceVariable Interest Rate
$0.00 ‐ $24,999.99 0.35% pa
$25,000 - $99,999.99 1.35% pa
$100,000.00 - $249,999.99 1.35% pa
$250,000.00 – $999,999.99 1.35% pa
$1,000,000 and above 0.35% pa

Rates are variable and subject to change. Each rate applies to the portion of the total balance that falls within that balance bracket. See section 3 of the Macquarie transaction and savings accounts terms and conditions for more information.   

Bonus offer for new Savings Account customers (applies for the first four months)

Subject to the conditions below, a welcome variable rate will apply as follows:

BalanceRate TypeVariable Interest Rate
Up to $250,000.00 Welcome variable rate 2.65% pa
$250,000.01 and above Standard stepped variable rate The standard stepped variable interest rates above apply.

Where you have not held a Macquarie Savings Account before, the welcome variable rate applies for four months from account opening, for the first $250,000 you deposit. The welcome variable rate applies instead of (not in addition to) the standard stepped variable rate that would otherwise apply to that portion of the balance of your Savings Account. Offer available on one Savings Account per person (whether the Account is in single or joint names). After four months, the standard stepped variable interest rates above apply to your Savings Account balance.

We may debit any fees and charges payable under these Terms and Conditions to your Account.

If we incur any government tax, duty or other charge imposed by law in respect of your Account or its operation, you must pay us an amount equal to the charge. You authorise us to debit any such amount to your Account.

Fee typeFee Amount
Monthly account fee Nil

Electronic Banking transactions

  • Make Internal Transfers, Pay Anyone, BPAY® and NPP Payments through Online Banking and Mobile Banking on an immediate or scheduled basis
Nil

Dishonour fee

  • Failed Direct Debits or scheduled payments due to insufficient funds in your Account
Nil
Fees only applicable on the Macquarie Transaction, Platinum transaction and Offset Accounts
rediATM withdrawal
rediATM balance enquiry
rediATM PIN change
Nil
Non-rediATM withdrawal balance enquiry

The ATM operator may charge you a fee, shown on screen before you complete the transaction.

From time-to-time, we may offer special promotions in connection with ATM fees – check macquarie.com/personal for details of any current offers.

International ATM balance enquiry

  • Check your Account balance at an international ATM where MasterCard is accepted

The ATM operator or service provider may charge you a fee.

International cash withdrawal

  • at an ATM, or
  • over the counter

where MasterCard is accepted and the transaction is permitted by the ATM operator or service provider

$5 per withdrawal

The ATM operator or service provider may also charge you a fee.

From time-to-time, we may offer special promotions in connection with international fees – check macquarie.com/personal for details of any current offers.

International purchases

  • Card purchases or transactions made or processed outside Australia (including where the transaction was made in Australia but the merchant is not in Australia)

Nil

Chargeback

  • You can dispute a payment made from your Card (please refer to section 6 of the Terms and Conditions)
$8 per request
Other fees

Bank cheque

  • Purchase a bank cheque issued by Macquarie with funds drawn immediately from your Transaction Account

Bank cheques can be requested by phone or at a Macquarie Branch

$10 per cheque

Real Time Gross Settlement (RTGS)

  • Transfer funds within the same Business Day to another Australian financial institution (subject to cut off time below)
$30 per transfer

International funds transfer

  • Transfer to an international financial institution account by telegraphic transfer – contact us to arrange
$30 per transfer

Special clearance

  • Fast track a cheque deposited into your Account – normal cheque clearance times can take up to three Business Days
$18 per cheque

Voucher request

  • Request a copy of a voucher/receipt for a payment you made using your Card
$8 per voucher

Dishonour fee

  • Failed Direct Debits or scheduled payments due to insufficient funds in your Account
Nil

Overdrawn fee

  • We may allow your Account to be debited even if there are insufficient funds to cover the amount of the debit either in full or in part (please refer to section 9 of the Terms and Conditions)

Nil

Transaction investigation fee

We can investigate a transaction on your Account.

Investigation fee

$60 for a complex investigation

$30 for a simple investigation

We will tell you which fee applies when you contact us

Statements

Statements are issued every six months and are available through Online Banking. You can also view your transaction history and perform transaction searches based on defined periods.

View and print statements online Nil
Requests for historical or reprints of statements

$7 for a mailed or emailed statement

Account limits and lodgement times

Valid transaction requests must be submitted by the below lodgement times to allow for same day processing. If a request is unclear, incomplete or requires additional information, we may not be able to process it on the same day.

All times in the table below refer to Sydney time.

Transaction TypeCut off timeProcessed by usDaily Limit

Internal Transfer from your Transaction, Platinum Transaction, Offset or Savings Account to any of your Macquarie accounts available via Electronic Banking

n/a

Immediately

Up to the available balance of your Account

Pay Anyone Payment from your Transaction, Platinum Transaction, Offset or Savings Account to another Australian bank account1

5:00pm on a Business Day

Same Business Day2

$20,0003

 

After 5:00pm or on a non-Business Day

Next Business Day2

 

NPP Payments from your Transaction, Platinum Transaction, Offset or Savings Account to another Australian bank account4

n/a

Immediately

$1,000
This limit operates as a sub-limit of the $20,000 Pay Anyone limit.

(if you make a NPP Payment, the $20,000 limit will reduce by the amount of the payment)

BPAY® from your Transaction, Platinum Transaction, Offset or Savings Account1

5:00pm on a Business Day

Processed and treated as received by the Biller on same Business Day5

Up to the available balance of your Account6

 

After 5:00pm on a Business Day or on a non-Business Day

Processed and treated as received by the Biller on next Business Day5

 

Transfer through Real Time Gross Settlement (RTGS)

12:00pm on a Business Day

Same Business Day

$100,000

Bank cheques

Lodged by 9:00am on a Business Day

Collect after 11:30am on the same Business Day

Up to the available balance of your Account

 

Lodged by 12:00pm on a Business Day

Collect after 2:30pm on the same Business Day

 

Overseas telegraphic transfers7

12:00pm on a Business Day

Same Business Day

Up to the available balance of your Account

Card limits

The limits set out in the table below apply per Card, per day, for a Card issued in connection with a Transaction Account, Platinum Transaction Account or Offset Account

 Transaction TypeLimit

Daily limit for:

  • domestic ATM or other cash withdrawals
  • purchases made by selecting 'savings' or 'EFTPOS savings' at EFT Terminals, and / or
  • cash out transactions made by selecting 'savings' or 'EFTPOS savings' at EFT Terminals
$2,000 daily

Daily debit MasterCard transaction limit – purchases made online, by telephone or when selecting 'MasterCard Debit', 'credit' or 'CR' in stores

Up to the available balance of your Account

MasterCard contactless limit with no PIN

$100 per transaction