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Macquarie Platinum Transaction Account

Account fee
$0.00
Payment options
Apple Pay, Google Pay, PayID, Garmin Pay, FitBit Pay
Interest rate
0.35% p.a.

Mozo editorial review Macquarie Platinum Transaction Account

Last updated: 20 February 2020.

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What's hot
  • Multiple Mozo Experts Choice Award winner - 2019 and 2020
  • Complimentary features include theft protection and concierge (conditions apply)
  • $0 account keeping and international transaction fees
What's not
  • No interest on balances lower than $5,000
Mozo snapshot

Macquarie has come out guns blazing with its Platinum Transaction Account. You'll have free access to rediATMs, get a refund on fees incurred at all other ATMs in Australia and be charged no international transaction fees and no monthly account keeping fees. Plus you'll gain access to a range of platinum features including 90 day theft and damage protection and a concierge service when you deposit over $4,000 a month. 

Yep, it's easy to see why the Platinum Transaction Account was crowned a multiple Mozo Experts Choice Award winner - in 2020 for Everyday Exceptional Account and in 2019 for best Travel Debit Card

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Key features

With the Platinum Transaction Account you'll pay no account keeping, EFTPOS, debit, phone, internet or over the counter deposit and withdrawal fees. Add to this free withdrawals from rediATMs, one of the largest ATM networks in Australia and it's truly a great value bank account. There's also no currency conversion fee to worry about.

So far it sounds like a great fee free bank account right? But what makes it deserve the title of "platinum"? Well, now we are onto the good stuff - the perks. When you deposit over $4,000 each month, you'll gain access to complimentary:

- 90 day theft and damage protection on eligible purchases you make using the linked debit card
- Platinum 24/7 concierge services
- Cover against theft of your handbag or wallet up to $500
- Emergency travel assistance services (e.g medical evacuation, essential medicine)
- MasterCard Platinum privileges including PricelessCities, which gives you access to discount tourist experiences in the location of your choice.

Phew, that's a whole lot of complimentary features!

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Who is it good for

The Platinum Transaction Account is the ideal match for someone looking for a fee free bank account, with the added touch of platinum perks.

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Any catches

Do you tend to let your bank account balance go into negative? Well, keep in mind Macquarie charges a high overdrawn rate of 16.40% pa.

Details

Rates and fees information correct as at 13 July 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.35% p.a.
    Balances from $5,000: 0.35% p.a.

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from any Australian ATMs, EFTPOS, phone, internet, BPAY and direct debits

  • $0.00

  • rediATM (other ATM network fees refunded)

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • 0%

  • $0.00 monthly

Other financial bits
  • $0.00

  • $0.00

Features
  • $2,000.00

  • no

  • yes

  • no

  • yes

  • no

  • yes

  • no

  • Minimum deposit for Platinum is $4,000 per month.

  • ATM fees rebated for non-network ATMs in Australia. Includes benefits of 90 day theft and damage protection, Platinum Concierge services.

Atm card
  • none

  • none

  • none

Debit card
  • $0.00

  • $0.00

  • 0%

Payment options

Apple Pay, Google Pay, PayID, Garmin Pay, FitBit Pay

Customer Reviews

How are Macquarie bank accounts rated by the Mozo community?

Overall customer rating
7.8/10
Price
7.9/10
Features
7.0/10
Customer service
8.2/10
Convenience
7.2/10
Trust
8.4/10

Latest reviews of Macquarie Platinum Transaction Account

  • Overall 10/10
    No Fees, ATM Money back immediately

    Refunds for any ATM immediately back into your account, added bonus features with the Platinum account if you deposit enough each month, and no account fees. Use the servo ATM, use the pub ATM, and don't worry about the ridiculous fees, it's all coming back to you!

    Read full review

    Refunds for any ATM immediately back into your account, added bonus features with the Platinum account if you deposit enough each month, and no account fees. Use the servo ATM, use the pub ATM, and don't worry about the ridiculous fees, it's all coming back to you!

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Michael, New South Wales reviewed 17 days ago
  • Overall 9/10
    No fees and great phone support

    Good phone support, low fees and little physical branches.

    Read full review

    Good phone support, low fees and little physical branches.

    Price
    8/10
    Features
    7/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    10/10
    Less
    Wilkin, Queensland reviewed 2 months ago
  • Overall 9/10
    Good bank

    Macquarie is professionally run, committed to wealth creation. It's easy to transfer thousands at the touch of one button. Most other banks need tokens and other kiddy like acts to facilitate action.

    Read full review

    Macquarie is professionally run, committed to wealth creation. It's easy to transfer thousands at the touch of one button. Most other banks need tokens and other kiddy like acts to facilitate action.

    Price
    10/10
    Features
    8/10
    Customer service
    10/10
    Convenience
    -1/10
    Trust
    10/10
    Less
    John, Queensland reviewed over 2 years ago
Macquarie

About Macquarie

Macquarie a global financial provider offers a variety of services to its clients. Macquarie provides a variety of products including banking, financial, advisory, investment and funds management services. Since its founding in 1969 Macquarie has become one of Australia's largest companies today.

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