If fee-free banking is the aim of your game, then the multi-award-winning Macquarie Transaction Account could be the match for you. Macquarie's transaction account could be a great choice for those looking at getting a new account. This account comes with no account-keeping or international transaction fees, and unlike many bank accounts, you’ll also be able to earn 4.75% p.a. interest on balances up to $250,000, 4.75% p.a. on balances from $250,000.01 to $1,000,000 and 3.35% p.a. on balances of $1,000,000.01 and over.
The Macquarie Transaction Account keeps hits the ground running with no ongoing account fees and unlimited free transactions via a number of mediums including BPAY, direct debit, NPP, PAYID, phone or online.
With the Macquarie Transaction Account, you’ll be refunded if you're charged a network fee for using other ATM networks, which is always a plus.
On top of all this, having a Macquarie Transaction Account means you can leave your wallet and linked Mastercard debit card at home, thanks to the different cardless payment options on offer, such as Apple Pay, and Google Pay.
Need access to your cash overseas? With the Mastercard debit card that’s linked to your Macquarie Transaction Account, you’ll be able to shop abroad or online at international stores without incurring any international transaction fees - whether over the counter or at an ATM.
The Macquarie Transaction Account could be a handy choice for anyone looking to ditch bank account fees while having plenty of access to their cash through an extensive Australian ATM network, and possibly for travellers or online shoppers looking to avoid international transaction fees altogether.
Be aware that there's a $2,000 cash daily withdrawal limit.
Balances from $0: 4.75% p.a. |
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n/a |
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n/a |
$0.00 |
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n/a |
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Unlimited free transactions from any Australian ATMs, phone, internet, BPAY and direct debits |
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$0.00 |
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ATM network fees refunded |
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$0.00 |
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$0.00 |
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$0.00 |
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$0.00 |
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$0.00 |
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$0.00 |
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n/a |
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$0.00 |
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0% |
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$0.00 monthly |
$0.00 |
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$0.00 |
$2,000.00 |
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no |
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yes |
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no |
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yes |
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no |
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yes |
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no |
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Available to customers 12 years old and over. |
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ATM fees rebated for non-network ATMs in Australia. |
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none |
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none |
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none |
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$0.00 |
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$0.00 |
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0% |
Apple Pay, Google Wallet, PayID
Fairly New to online banking . Macquarie was recommended as I was scammed twice from a previous well known bank. So far ease of transaction and money transfers have been excellent.
Read full reviewFairly New to online banking . Macquarie was recommended as I was scammed twice from a previous well known bank. So far ease of transaction and money transfers have been excellent.
I used to love Macquarie, their interest rates were adequate, their staff were adaptable and friendly if you suddenly arrived unannounced and unexpected: their interest rates were not the highest; but they have recently dramatically improved and things were looking even more rosy UNTIL, they then decided, like so many other banks, that money is just an ethereal concept that can be handled by paper-shuffling: rather than something that the not so well endowed citizen, can hold in his hand, or hide under her mattress. This of course means that the banks don't have to employ so many people to handle the real money, or build large safe enclosures to store it. With the internet it also means sinister forces can easily make off with large amounts (as has happened to me on two occasions), if one of the major channels breaks down a lot of people have no buying power, and if the power supplies break down, or are washed out, or earthquakes shatter it, large crowds have nothing to use to purchase necessities. I am unwilling to use a bank that does not wish to use money that much maligned system, that has been such a basic proponent of our civilisation.
Read full reviewI used to love Macquarie, their interest rates were adequate, their staff were adaptable and friendly if you suddenly arrived unannounced and unexpected: their interest rates were not the highest; but they have recently dramatically improved and things were looking even more rosy UNTIL, they then decided, like so many other banks, that money is just an ethereal concept that can be handled by paper-shuffling: rather than something that the not so well endowed citizen, can hold in his hand, or hide under her mattress. This of course means that the banks don't have to employ so many people to handle the real money, or build large safe enclosures to store it. With the internet it also means sinister forces can easily make off with large amounts (as has happened to me on two occasions), if one of the major channels breaks down a lot of people have no buying power, and if the power supplies break down, or are washed out, or earthquakes shatter it, large crowds have nothing to use to purchase necessities. I am unwilling to use a bank that does not wish to use money that much maligned system, that has been such a basic proponent of our civilisation.
I have never banked with such a great bank before! Their banking app is so classy and easy to use. No fees whatsoever which is not what one can say about the big 4 banks. I work for a bank and don’t even bank with them and prefer to keep using Macquarie! I genuinely recommend banking with them, it’s not only a billionaires’ bank like many people believe, trust me!
Read full reviewI have never banked with such a great bank before! Their banking app is so classy and easy to use. No fees whatsoever which is not what one can say about the big 4 banks. I work for a bank and don’t even bank with them and prefer to keep using Macquarie! I genuinely recommend banking with them, it’s not only a billionaires’ bank like many people believe, trust me!
I have been with a lot of different banks and left for different reasons. I have been with Macquarie for a few years now and I am very happy with them. I love that I can withdraw money from any ATM without having to pay any fees and I have never had any other fees. I have only needed to call them once when I switched devices and needed help logging into the app and they were quick to answer and provide assistance.
Read full reviewI have been with a lot of different banks and left for different reasons. I have been with Macquarie for a few years now and I am very happy with them. I love that I can withdraw money from any ATM without having to pay any fees and I have never had any other fees. I have only needed to call them once when I switched devices and needed help logging into the app and they were quick to answer and provide assistance.
After applying online for two new Macquarie Platinum Transaction accounts last Friday, one for me and a joint account, I have already closed both of them and will never consider using Macquarie Bank again. After receiving my new account numbers, I added my first PayID (which was for an account in my own personal name) and completed a small test transfer. Immediately Macquarie BLOCKED my account. Being a Friday afternoon, and that Macquarie Bank only has a customer service help line (if you can even call it that) team that operates Mon-Fri during business hours I had to wait until Monday to call them to attempt to get my account unblocked. Monday comes along and I call them. After 30 minutes I speak to the first person who interrogates me as to why added that PayID and why I wanted to transfer money to that account and who told me to transfer money to that account. I could not believe it. Even after telling them it was an account with another major Australian bank in my personal name they didn't believe me and then they transferred me to their Fraud team. After being on hold for another 20 minutes I get even harsher questioning as to why I performed the simple PayID transaction. After 5 minutes, and being quite shook up with how they performed such aggressive accusations and questioning I told them to just close both accounts and I will never go near Macquarie Bank again. They seemed totally okay with that and just closed both accounts on the spot. Looking at other reviews I now know I'm not the only person who has experienced such disgusting inhumane conduct by banking staff. Sure they have high interest accounts however, how can one be expected to trust a bank that acts this way.
Read full reviewAfter applying online for two new Macquarie Platinum Transaction accounts last Friday, one for me and a joint account, I have already closed both of them and will never consider using Macquarie Bank again. After receiving my new account numbers, I added my first PayID (which was for an account in my own personal name) and completed a small test transfer. Immediately Macquarie BLOCKED my account. Being a Friday afternoon, and that Macquarie Bank only has a customer service help line (if you can even call it that) team that operates Mon-Fri during business hours I had to wait until Monday to call them to attempt to get my account unblocked. Monday comes along and I call them. After 30 minutes I speak to the first person who interrogates me as to why added that PayID and why I wanted to transfer money to that account and who told me to transfer money to that account. I could not believe it. Even after telling them it was an account with another major Australian bank in my personal name they didn't believe me and then they transferred me to their Fraud team. After being on hold for another 20 minutes I get even harsher questioning as to why I performed the simple PayID transaction. After 5 minutes, and being quite shook up with how they performed such aggressive accusations and questioning I told them to just close both accounts and I will never go near Macquarie Bank again. They seemed totally okay with that and just closed both accounts on the spot. Looking at other reviews I now know I'm not the only person who has experienced such disgusting inhumane conduct by banking staff. Sure they have high interest accounts however, how can one be expected to trust a bank that acts this way.
Spend Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, Fitbit Pay, Garmin Pay
0% p.a.
Glide Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit Pay, Garmin
0% p.a.