Macquarie Bank is a really great banking option in Australia. It is user friendly and easy to access through the App. The App is convenient and lists all accounts easily. Access is safe and has the usual safety/security options. The only con is the transfer of funds to other accounts as they don’t yet use Osko etc.
More Macquarie bank account customer reviewsThe Macquarie basic home loan has a good rate and allows unlimited and free redraw which is fantastic. It comes with a no fee credit card as well, however, with a limit of only $1000 it is of little use.
More Macquarie home loan customer reviewsThis is a great savings bank. It has great service and interest rates for saving.
More Macquarie savings account customer reviewsSo, I'm pretty much knee-deep into my first year studying psychology part-time and juggling a couple of part-time jobs. When it came to getting my very own set of wheels, let's just say my savings account wasn't ready to cover the whole 'first car' dream. That's where Macquarie stepped in with a car loan that gave me the extra $15K I needed. Here's the real talk on how it all went down. The Good Stuff: Getting Approved: The thumbs up from Macquarie was super quick. It felt like they were just as excited about my new car as I was! Customer Service: Every time I rang up with a million questions (and trust me, there were many), they were chill and really helpful. Flexibility: They've got options to make extra payments, which is awesome 'cause I'm planning to knock this loan out ahead of schedule. Manageability: The online platform is pretty user-friendly. I can check my balance and manage payments without needing a degree in computer science. The Not-so-Great: Interest Rates: Okay, so I didn't exactly have my glasses on when reading the fine print. The interest rate? Higher than I expected. That's on me though — lesson learned to keep my eyes wide open. Loan Length: I've signed away five years to this loan. It's a bit of a bummer thinking about it, but I'm aiming to get ahead with those extra payments. Overall, I'm sitting comfy with my Macquarie car loan. It's a solid 7 out of 10 for me. Sure, I'm paying a bit more in interest than I'd like, but that's what you get when you jump in head-first. I've got my car, I've got a plan, and I'm learning heaps along the way — about cars, loans, and always reading the details!
More Macquarie car loan customer reviewsI used Macquarie for term deposit because I though that they were a successful Bank. But I discovered that this Bank will jusy use you, Customer service appauling. Honesty zero. Macquarie took 25% of my Term deposit interest, YES 25% due to my need to break the period. Macquarie then paid me the incorrect amount, shortling me $ 8.20. Now its not the little amount, it is the fact that MAcquarie got my pay out figure wrong and I had to fight for the correct amount. I still have not got from Macquarie what I am entitled. The payout date arrived and I had a buy contract to settle on that date, NO MONEY. I spend hours on the phone, honest hours. Horrid Bank. Wouldnt ever use them again. NO WAY
More Macquarie term deposit customer reviewsFriendly bank, never had ay issues with contact or help over the phone. Products are easy to understand and we will definitely be using this bank further in the near future.
More Macquarie share account customer reviewsI am not surprised to read that others have had the same experience with Macquarie as I have had. I had to change credit cards because ING randomly called me to say that I could not use my accounts for business purposes (read my side income which I am not even registered for GST, and which is NOT required by the ATO to have a business account). I was already with Macquarie for other accounts so wanted to simplify my banking by closing all my ING accounts and moving the remainder to Macquarie. That's where my pain began. I applied for a credit card after meeting their lofty criteria, in October last year. It was declined on the basis that I had not completed my 20/21 FY tax return at that time, despite evidence of my income being available from my accountant and PAYG receipts. They point blank refused to verify my income. It was easier for them to do no work and reject it. I appealed this and requested that the card limit be reduced to $6000 (from $15000 - it said there was an option to reduce the limit on the website, but that tab didn't work). This was again refused despite my 94% credit rating, a 20+ year history of servicing credit cards to the same limit and being a customer of theirs for almost as long. To cap it off they said they did not disclose how decisions were made. Good to see the banking royal commission made an impact on them re: transparency. I need to disclose everything and they get to be completely opaque in their processes. I have since completed my tax return and sent them a screenshot of the summary sheet (because no bank needs to hoard my entire tax return in an age of cyber hacks and Ransomware attacks). Despite this being the information they requested in order to verify my income and approve my application for their pathetic credit card, they repeated their mantra of 'this case is closed, you can reapply in 6 months’ time if your circumstances change". I have repeatedly told them that my circumstances will not change and have not changed. They just need to do their job, which seems to be the only barrier here. I am still waiting the Ombudsman to get back to allocate me a case worker (4 mths so far). In the meantime, last week I called to ask about reapplying for a credit card. He said I couldn't apply until after 6 months (Oct 2022) and said 6 mths would be 20th April, so it was "an option" for me to apply on 20th MAY. After going around in circles and him failing to see that what I was being told was illogical and his basic arithmetic was wrong, I asked for it to be escalated. He put me on hold, spoke with his supervisor and then said yes, I could apply from 20th April. Do they lobotomise their call centre workers, or was I really talking to a ChatGP bot over the phone? I had to call to (re)apply, so I did that this morning and now have to wait for FIVE to SEVEN business days for someone to get back with the pre-approval, after ascertaining that I meet their criteria - which they could establishing by summing the total of my accounts with them. Given their call centre guy couldn't calculate a date 6 months to now, I guess it must take 2 weeks to calculate more than 2 digit numbers. Moral of the story - find another bank before you become entrapped.
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