If fee-free banking is the aim of your game, then the multi-award-winning Macquarie Transaction Account could be the match for you. Not only was it crowned one of Australia's Exceptional Everyday Accounts in the 2020 Mozo Experts Choice Awards, but it also took out a best Travel Debit Card Award in 2019 too.
On top of this, this account comes with no account-keeping or international transaction fees, and unlike many bank accounts, you’ll also be able to earn 0.20% p.a. interest on all balances. And if you love the ease of online banking then you'll be thrilled to know that Macquarie also won the 2019 Mozo Experts Choice Award for best Internet Banking.
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, EFTPOS, phone or online.
With the Macquarie Transaction Account, you’ll also be able to make the most of one of Australia’s largest ATM networks thanks to free withdrawals from over 3,000 rediATMs. Not to mention, Macquarie will even refund you if you're charged a network fee for using other ATM networks.
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, Google Pay and PayID.
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.
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.
Balances from $0: 0.20% p.a.
n/a
n/a
$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
$0.00
$0.00
$2,000.00
no
yes
no
yes
no
yes
no
Available to customers 14 years old and over.
ATM fees rebated for non-network ATMs in Australia.
none
none
none
$0.00
$0.00
0%
Apple Pay, Google Pay, PayID
Easily the best bank I've ever dealt with, as previous switching from Westpac, Macquarie Bank was a breath of fresh air. Their signup process was stupid simple, the product offers great features especially for travellers and I love how easy their support team are to deal with. For simple enquiries I can even just send them an email. They also offer the best mobile and desktop banking of any bank I've ever seen, cannot rate or recommend them any higher. I've already converted over 3 other friends and my entire family.
Read full reviewEasily the best bank I've ever dealt with, as previous switching from Westpac, Macquarie Bank was a breath of fresh air. Their signup process was stupid simple, the product offers great features especially for travellers and I love how easy their support team are to deal with. For simple enquiries I can even just send them an email. They also offer the best mobile and desktop banking of any bank I've ever seen, cannot rate or recommend them any higher. I've already converted over 3 other friends and my entire family.
Macquarie Bank are easy to contact, and have local staff available to chat. We used their transaction account as a travel account as they had the lowest currency exchange rates when we signed up, and we had no trouble overseas using our cards anywhere. The app is easy to use and understand, and there was no monthly ongoing fees or minimum to deposit to keep it going.
Read full reviewMacquarie Bank are easy to contact, and have local staff available to chat. We used their transaction account as a travel account as they had the lowest currency exchange rates when we signed up, and we had no trouble overseas using our cards anywhere. The app is easy to use and understand, and there was no monthly ongoing fees or minimum to deposit to keep it going.
Macquarie is a good bank but the lack of branches isn't good.
Read full reviewMacquarie is a good bank but the lack of branches isn't good.
The best customer call centre I have ever dealt with, for any product. Every time they have been helpful, able to solve any issues, offer solutions, and it's so quick and easy to get through to them. None of those stupid 'press 1 for..., press 2 for..., press 157 for...'
Read full reviewThe best customer call centre I have ever dealt with, for any product. Every time they have been helpful, able to solve any issues, offer solutions, and it's so quick and easy to get through to them. None of those stupid 'press 1 for..., press 2 for..., press 157 for...'
They are great, they refund all my eftpos charges, customer service is great as well.
Read full reviewThey are great, they refund all my eftpos charges, customer service is great as well.
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.
MyState Bank
Glide Account
$0.00
Apple Pay, Google Pay, PayID, Samsung Pay, FitBit Pay, Garmin
0% p.a.
NAB
Classic Banking Account (with Standard Visa Debit Card)
$0.00
Apple Pay, Google Pay, PayID, Samsung Pay
0.01% p.a.
