Had enough of banking with Macquarie for a number of reasons Firstly the bank has never bothered to initiate NPP since its mandate in 2017. Unlike the other banks both australian and foreign Macquarie refuses to launch NPP offering instant payments to other bank accounts meaning I do not receive money transfers from friends and family until 24 hours later or more on weekends meanwhile others receive their funds instantly Secondly Macquarie have removed eftpos payment enablement from all their debit cards meaning cashouts during shopping are impossible and now the peer to peer payment app Beem it is incompatible for Macquarie cards. Macquarie have done this to maximise their interchange revenue from merchants. For those unfamiliar this means when I tap and pay for my coffee the coffee shop pays maximum merchant acquiring fees to the issuer (Macquarie bank) as all transactions to route via Mastercard. Whilst this has no effect on me as the consumer the small business is left footing a higher bill as they have no opportunity to explore cheaper payment acceptance rails Not interested in banking with an institution that maximises revenue at the cost of supporting australian businesses
I absolutely love the ease of use of their app. I love travelling overseas and it has the best features for travellers. I love how hassle free this bank is.
I am generally happy with Macquarie, but find their app a bit frustrating in terms of trying to track my spending - items stay 'pending' for ages and the balance isn't always up to date, so you don't have an accurate gauge unless you go in and add up your transactions manually.
Macquarie is a great bank. I've phoned their customer service number a couple of times and they are always helpful and answer the phone straight away. Plus I love the added protection with the platinum card as well as the free ATM usage.
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!
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.
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.
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...'
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.
Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.
Want more? Compare all 99 bank accounts in the Mozo comparison engine.Compare more bank accounts
Mozo gives you the inside story on the best banking, energy and insurance products as rated by thousands of real customers around Australia. We don't make subjective judgments, nor do advertisers influence our ratings. Although our reviews may be moderated to improve quality standards, they are moderated independently of any of Mozo’s commercial relationships.