Macquarie bank account reviews

Macquarie
Macquarie's overall rating for bank accounts

(as rated by the Mozo community)

6.8 / 10

based on 20 reviews

Price

Features

Customer service

Convenience

Trust

Featured bank account from Macquarie

Recent Macquarie bank account reviews

Macquarie

Macquarie Transaction Account bank account review

Overall rating   10 / 10

Great daily interest

I've always received excellent service from staff and a great interest rate on my daily balance via their cash management account.

Full review

I've always received excellent service from staff and a great interest rate on my daily balance via their cash management account.

    Price   10 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

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Trevor (NSW), reviewed 6 months ago

Macquarie

Macquarie bank account review

Overall rating   7 / 10

Good online and phone customer service

The only limitation with Macquarie Bank is that they don't have a physical building in Canberra. Otherwise, the only service works well and I am satisfied with the customer phone service. The bank also has the facilities that are use by our...

Full review

The only limitation with Macquarie Bank is that they don't have a physical building in Canberra. Otherwise, the only service works well and I am satisfied with the customer phone service. The bank also has the facilities that are use by our financial advisor, which works well. The fees are not high, nor are the interest rates, although they are marginally higher than our other bank. I would recommend Macquarie Bank to others.

    Price   9 / 10

    Features   4 / 10

    Customer service   8 / 10

    Convenience   5 / 10

    Trust   9 / 10

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Maureen (ACT), reviewed almost 2 years ago

Macquarie

Macquarie bank account review

Overall rating   5 / 10

Good investor product.

Good bank in some areas. Very slow to clear funds. No debit cards on accounts. Security improving. Generally slow. Physical branches are virtually non-existent. The cash management account is superb from the point of being able to add lots of...

Full review

Good bank in some areas. Very slow to clear funds. No debit cards on accounts. Security improving. Generally slow. Physical branches are virtually non-existent. The cash management account is superb from the point of being able to add lots of details on payment fields which really helps when tax time comes. Other banks fall down heavily here. It is built for the investor. Thanks Macquarie.

    Price   10 / 10

    Features   4 / 10

    Customer service   7 / 10

    Convenience   2 / 10

    Trust   10 / 10

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Paul (WA), reviewed over 2 years ago

Macquarie

Macquarie bank account review

Overall rating   10 / 10

No fees, +interest , fantastic customer service

I've been with Macquarie Bank ever since they incorporated as The Australia Bank Ltd. That must be 50+ years. They have been more than I could expect from a bank. I feel very comfortable with my Cash Management Account. I earn interest on my...

Full review

I've been with Macquarie Bank ever since they incorporated as The Australia Bank Ltd. That must be 50+ years. They have been more than I could expect from a bank. I feel very comfortable with my Cash Management Account. I earn interest on my every day funds an I've never paid a a single bank fee. I recommend Macquarie as high as the rankings go + one!

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Trevor (NSW), reviewed over 2 years ago

Macquarie

Macquarie bank account review

Overall rating   2 / 10

Probably one of the worst banks

I have banked with Macquarie for over 20 years. In the last decade they have become more and more bureaucratic to the point that 'your security' and 'compliance' have become bywords for BAD customer service. My list of complaints is too long to...

Full review

I have banked with Macquarie for over 20 years. In the last decade they have become more and more bureaucratic to the point that 'your security' and 'compliance' have become bywords for BAD customer service. My list of complaints is too long to itemise here, but I now get way better service from my high street ANZ branch. If it wasn't for the fact that we have to change over 40 direct deposits I would dump Macquarie in a flash. In 20 years they have gone from being one of the best to one of the worst.

    Price   5 / 10

    Features   5 / 10

    Customer service   0 / 10

    Convenience   1 / 10

    Trust   5 / 10

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Richard (NSW), reviewed over 2 years ago

Macquarie

Macquarie bank account review

Overall rating   7 / 10

Steady interest rates and good backing

Secure, trusted and large. Not able to physically access as not in my state is a drawback.

Full review

Secure, trusted and large. Not able to physically access as not in my state is a drawback.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   4 / 10

    Trust   8 / 10

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Janette (TAS), reviewed almost 3 years ago

Macquarie

Macquarie bank account review

Overall rating   0 / 10

Stay away from them!!

I opened a bank account with Macquarie in December and then, quite out of the blue they called me and notified of closing my bank account, as if I was a money launderer - just like that! - the account had a very small amount of money though. Then...

Full review

I opened a bank account with Macquarie in December and then, quite out of the blue they called me and notified of closing my bank account, as if I was a money launderer - just like that! - the account had a very small amount of money though. Then they promosed that I would receive a letter explaining why it was closed. After making about 5 phone calls requesting such a letter, then finally sent one in 2 months!! after closing it. The letter just stated that they made a decision to close a bank account without any explanation. Stay away from this bank! I have been banking with many banks but have never ever experienced such a set-up and totally disrespectful attitude to clients...

    Price   0 / 10

    Features   0 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

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Mike (QLD), reviewed almost 3 years ago

Macquarie

Macquarie bank account review

Overall rating   8 / 10

Online space excellent

I love that you don't pay to have an account and you can withdraw as much as you like without being charged. In the 20 years been banking with them no problems. Not like a certain ANZ bank....

Full review

I love that you don't pay to have an account and you can withdraw as much as you like without being charged. In the 20 years been banking with them no problems. Not like a certain ANZ bank....

    Price   7 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Antonietta (QLD), reviewed almost 3 years ago

Macquarie

Macquarie bank account review

Overall rating   0 / 10

Worst banking experience

Basically I opened a cash management account to receive money from overseas from my parents as Macquarie works with OZForex and their currency exchange rates are quite good. In a short while I was contacted to ask for a copy of my father's...

Full review

Basically I opened a cash management account to receive money from overseas from my parents as Macquarie works with OZForex and their currency exchange rates are quite good. In a short while I was contacted to ask for a copy of my father's passport (Russian national) for security reasons. Which I did send. Next day she called me and said the bank decided to use its discretion - the right to cancel my account and the incoming overseas transfer was cancelled as well... The money was sent back. Without explaining any reasons for doing that. Totally Unbelievable! I've been with NAB and Bankwest for many years and I have never come across such attitude and unprecedented, unreasonably cruel treatment of clients as if they were involved in money laundering. Their compliance team has no idea how to do their job properly and how to distinguish between the law abiding clients and those involved in money laundering. Nevertheless, to date, there are no international laws or sanctions prohibiting financial transactions between Russia and Australia. I would NEVER recommend dealing with this bank.

    Price   0 / 10

    Features   0 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

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Serge (QLD), reviewed almost 3 years ago

Macquarie

Macquarie bank account review

Overall rating   10 / 10

Brilliant

I am a Strata Manager and Macquarie are the Best in the Industry for Strata. We used to deal with the NAB but they could not handle the complexity of Strata so we moved to Macquarie and haven't looked back.

Full review

I am a Strata Manager and Macquarie are the Best in the Industry for Strata. We used to deal with the NAB but they could not handle the complexity of Strata so we moved to Macquarie and haven't looked back.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

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Gaye (NSW), reviewed about 3 years ago

Macquarie

Macquarie bank account review

Overall rating   9 / 10

Very caring of me

Macquarie is the only bank who telephones me if there is any problem with my account, instead of simply imposing fees. They give me the information and allow me to fix any problem before anything becomes a problem. In short they have cared for...

Full review

Macquarie is the only bank who telephones me if there is any problem with my account, instead of simply imposing fees. They give me the information and allow me to fix any problem before anything becomes a problem. In short they have cared for me and my well being in preference to making instantaneous fees from me. It is better to make one dollar a week from a client forever, than to take twenty dollars now. I happily repay their attitude with my loyalty. Maybe it's old fashioned, but it's all pretty simple really.

    Price   7 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

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Nils (WA), reviewed about 3 years ago

Macquarie

Macquarie bank account review

Overall rating   8 / 10

Professional & convenient.

I use Macquarie for most of my business transactions. It is very convenient and professional. A great service for business needs.

Full review

I use Macquarie for most of my business transactions. It is very convenient and professional. A great service for business needs.

    Price   6 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   7 / 10

    Trust   9 / 10

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Robert (VIC), reviewed over 3 years ago

Macquarie

Macquarie bank account review

Overall rating   8 / 10

Agent service is great

I have a very obliging agent that helps out when I have a problem.

Full review

I have a very obliging agent that helps out when I have a problem.

    Price   5 / 10

    Features   5 / 10

    Customer service   8 / 10

    Convenience   7 / 10

    Trust   8 / 10

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Catherine (ACT), reviewed over 3 years ago

Macquarie

Macquarie bank account review

Overall rating   10 / 10

An excellent bank

Macquarie Bank provide so many services, they are client friendly & have good interest rates - either borrowing or cash accounts.

Full review

Macquarie Bank provide so many services, they are client friendly & have good interest rates - either borrowing or cash accounts.

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   8 / 10

    Trust   10 / 10

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Norm (VIC), reviewed over 3 years ago

Macquarie

Macquarie bank account review

Overall rating   9 / 10

Excellent features and personal attention

I have been a client of Macquarie for 30 years, primarily for my business and super funds with smaller personal cash management and share trading accounts. I also hold a Visa card with them. I am personally telephoned any time I have "slipped up"...

Full review

I have been a client of Macquarie for 30 years, primarily for my business and super funds with smaller personal cash management and share trading accounts. I also hold a Visa card with them. I am personally telephoned any time I have "slipped up" and not covered automatic debits. The friendly attention to detail is refreshing and care free. Fees are realistic and better than other providers I have experienced. The reward program is "real" where I have enjoyed close to $1000 in benefits each year. Strongly recommended.

    Price   8 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   10 / 10

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Paul (WA), reviewed over 3 years ago

Macquarie

Macquarie bank account review

Overall rating   8 / 10

Very accessible

Extremely easy to use and wide product selection.

Full review

Extremely easy to use and wide product selection.

    Price   7 / 10

    Features   8 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   8 / 10

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Mozo reviewer (QLD), reviewed about 4 years ago

Macquarie

Macquarie bank account review

Overall rating   10 / 10

Efficient, trustworthy, diligent+interest & no fee

Macquarie's Cash Management Account and I have four separate cash management accounts, charge no fees and pay a rate of interest on my balances. I haven't a convenient branch as I live just outside a NSW country town. This has never been a problem...

Full review

Macquarie's Cash Management Account and I have four separate cash management accounts, charge no fees and pay a rate of interest on my balances. I haven't a convenient branch as I live just outside a NSW country town. This has never been a problem as we do all our banking by direct bank transfers. When we need to speak to an officer we enjoy Rolls Royce Service. On a number of occasions over the 50 years or so I've been dealing with them (I was one of their 1st customers when they incorporated as The Australia Bank) I have been contacted over my signature being not exactly as per there records! Now that's service!

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Trevor (NSW), reviewed about 4 years ago

Macquarie

Macquarie bank account review

Overall rating   9 / 10

Excellent and professional customer service

A professional bank which prides themselves on their customer service. Simple, easy to understand, efficiently resourced and well versed staff means efficient and effective handling of all types of enquiries. Primarily an online bank, their cut...

Full review

A professional bank which prides themselves on their customer service. Simple, easy to understand, efficiently resourced and well versed staff means efficient and effective handling of all types of enquiries. Primarily an online bank, their cut off times for processing are reasonable and reliable. Online security is high, giving peace of mind and good returns.

    Price   8 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

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Mozo reviewer (VIC), reviewed over 4 years ago

Macquarie

Macquarie bank account review

Overall rating   9 / 10

Excellent customer service!

When dealing with Macquarie Bank you will be taken care of by a human being interested to find out what your banking needs are and then willing to explain the necessary processes so that an informed decision can be made, not like other banks where...

Full review

When dealing with Macquarie Bank you will be taken care of by a human being interested to find out what your banking needs are and then willing to explain the necessary processes so that an informed decision can be made, not like other banks where electronic options are offered that might not address the requirements. Moreover, Macquarie attends to their customers within three rings unlike other banks where you may 10-20 minutes waiting for some response.

    Price   7 / 10

    Features   -1 / 10

    Customer service   9 / 10

    Convenience   5 / 10

    Trust   9 / 10

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Heidi (NSW), reviewed over 4 years ago

Macquarie

Macquarie bank account review

Overall rating   10 / 10

Not a problem

In about 20 years I have never had a single issue that was not resolved quickly and easily.

Full review

In about 20 years I have never had a single issue that was not resolved quickly and easily.

    Price   5 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

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Sarah (NSW), reviewed over 4 years ago

Macquarie

Macquarie bank account review

Overall rating   9 / 10

Great bank - no fees

No account fees, online banking only. Great products, competitive rates, ability to BPAY with NO FEES.

Full review

No account fees, online banking only. Great products, competitive rates, ability to BPAY with NO FEES.

    Price   9 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   9 / 10

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Toni (NSW), reviewed almost 5 years ago

Macquarie

Macquarie bank account review

Overall rating   8 / 10

On-line banking with deposits payable at bank branches or through another bank. Funds readily available through Bpay or transfer for next day availability as cash. Interest payable monthly and no bank charges.

Full review

On-line banking with deposits payable at bank branches or through another bank. Funds readily available through Bpay or transfer for next day availability as cash. Interest payable monthly and no bank charges.

    Price   7 / 10

    Features   0 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

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Bill (NSW), reviewed over 6 years ago

Macquarie

Macquarie bank account review

Overall rating   8 / 10

Unfortunately Macquarie don't have any suburban branches, however they are linked to NAB. I use this service purely for internet transactions, so that doesn't matter.

Full review

Unfortunately Macquarie don't have any suburban branches, however they are linked to NAB. I use this service purely for internet transactions, so that doesn't matter.

    Price   7 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

Less

Jacqueline (NSW), reviewed over 6 years ago

Macquarie

Macquarie bank account review

Overall rating   10 / 10

We like the Macquarie Bank CMT account because it offers very competitive interest rate, at call. All our transactions (between ANZ and ING Direct accounts, B-pay) are done on-line. The helpful staff are only a prompt personal phone call away.

Full review

We like the Macquarie Bank CMT account because it offers very competitive interest rate, at call. All our transactions (between ANZ and ING Direct accounts, B-pay) are done on-line. The helpful staff are only a prompt personal phone call away.

    Price   10 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   -1 / 10

    Trust   10 / 10

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Marion (QLD), reviewed over 6 years ago

Macquarie

Macquarie bank account review

Overall rating   8 / 10

Macquarie Cash Management Account â?? itâ??s competitive with an interest rate of 4.75%, no fee and access to my cash when I want. Macquarie pushed the fact that it offers online banking and cheque books but these days who hasnâ??t? However, a...

Full review

Macquarie Cash Management Account â?? itâ??s competitive with an interest rate of 4.75%, no fee and access to my cash when I want. Macquarie pushed the fact that it offers online banking and cheque books but these days who hasnâ??t? However, a feature I like is that I can redeem my credit card reward points for cash straight into this account â?? not on offer to all customers but very handy for those that have a gold/platinum credit card.

    Price   7 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   9 / 10

    Trust   10 / 10

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Mozo reviewer (NSW), reviewed almost 7 years ago

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.

Bank account comparisons on Mozo - rates updated daily

  • ING Orange Everyday

    ING Orange Everyday

    • $75 cash bonus
    • Free ATMs in Aus, when you deposit $1k per month (& from Mar 2018, 5+ card purchases in the month)
    • No everyday fees, which means more of your money is where it belongs, in your pocket

    account fee

    $0.00

    salary direct credit facility

    yes

    interest rate

    0% p.a.

    Go to site

    More info

    • $75 cash bonus
    • Free ATMs in Aus, when you deposit $1k per month (& from Mar 2018, 5+ card purchases in the month)
    • No everyday fees, which means more of your money is where it belongs, in your pocket
    • Atm networks: None
    • What kind of card?: Visa Debit
    • Interest rate: Balances from $0: 0.00% p.a.
    • Fee free transactions: Free ATM use in Australia and overseas and free international transactions when you deposit at least $1,000 from an external bank account each month, free EFTPOS withdrawals.
    Overall rating

    9.2

    Based on 206 ING bank account reviews

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  • NAB Classic Banking Account

    NAB Classic Banking Account

    • No monthly account fees ever, with no conditions.
    • Free use at over 10,000 ATMs around Australia
    • 24/7 Mobile Banking, including Quick Balance and Tap & Pay for Android

    account fee

    $0.00

    salary direct credit facility

    yes

    interest rate

    0.01% p.a.

    Go to site

    More info

    • No monthly account fees ever, with no conditions.
    • Free use at over 10,000 ATMs around Australia
    • 24/7 Mobile Banking, including Quick Balance and Tap & Pay for Android
    • Atm networks: NAB, rediATM
    • What kind of card?: Visa Debit or
      EFTPOS
    • Interest rate: Balances from $0: 0.01% p.a.
    • Fee free transactions: Unlimited free transactions from own-bank ATM, EFTPOS, counter withdrawals, counter deposits, phone, internet and Visa debit purchases
    Overall rating

    8.1

    Based on 1377 NAB bank account reviews

    Need more information?
    Go to site

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  • ANZ Access Advantage

    ANZ Access Advantage

    • $0 monthly account service fee if you deposit at least $2,000 a month
    • Now with Apple Pay
    • Consider if right for you. T&C’s, eligibility criteria apply

    account fee

    $5.00$0 monthly account fee if you deposit min. $2,000 per month

    salary direct credit facility

    yes

    interest rate

    0% p.a.

    Go to site

    More info

    • $0 monthly account service fee if you deposit at least $2,000 a month
    • Now with Apple Pay
    • Consider if right for you. T&C’s, eligibility criteria apply
    • Atm networks: ANZ
    • What kind of card?: Visa Debit or
      EFTPOS
    • Interest rate: Balances from $0: 0.00% p.a.
      Balances from $50,000: 0.01% p.a.
      Balances from $100,000: 0.02% p.a.
    • Fee free transactions: Unlimited free transactions from own-bank ATM, EFTPOS, cheque, counter withdrawals, counter deposits, phone and internet
    Overall rating

    7.6

    Based on 1579 ANZ bank account reviews

    Need more information?
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    More info

  • Bankwest Qantas Transaction Account

    Bankwest Qantas Transaction Account

    • Earn Qantas Points on your account balance 365 days a year
    • No ATM fees at Bankwest and CommBank ATMs Australia wide
    • No monthly account fees when you deposit $2,000 each month

    account fee

    $6.00$0 monthly account fee if you deposit min. $2,000 per month

    salary direct credit facility

    yes

    interest rate

    0.01% p.a.

    Go to site

    More info

    • Earn Qantas Points on your account balance 365 days a year
    • No ATM fees at Bankwest and CommBank ATMs Australia wide
    • No monthly account fees when you deposit $2,000 each month
    • Atm networks: Bankwest, Commonwealth
    • What kind of card?: Debit Mastercard
    • Interest rate: Balances from $0: 0.01% p.a.
    • Fee free transactions: Unlimited free domestic transactions from network ATMs, EFTPOS, cheque, counter withdrawals, phone, internet and Debit MasterCard purchases
    Overall rating

    8.2

    Based on 400 Bankwest bank account reviews

    Need more information?
    Go to site

    More info

  • Bankwest Easy Transaction Account

    Bankwest Easy Transaction Account

    • Pay $0 ATM fees at over 10,000 major bank ATMs in Aus. Fees, T&Cs apply
    • No monthly account keeping fees when you deposit at least $2,000 per month
    • 24/7 access to your money via phone

    account fee

    $6.00$0 monthly account fee if you deposit min. $2,000 per month

    salary direct credit facility

    yes

    interest rate

    0% p.a.

    Go to site

    More info

    • Pay $0 ATM fees at over 10,000 major bank ATMs in Aus. Fees, T&Cs apply
    • No monthly account keeping fees when you deposit at least $2,000 per month
    • 24/7 access to your money via phone
    • Atm networks: Bankwest, ANZ, Commonwealth, NAB, Westpac, St.George, BankSA, Bank of Melbourne
    • What kind of card?: Debit Mastercard
    • Interest rate: Balances from $0: 0.00% p.a.
    • Fee free transactions: Unlimited domestic transactions from network ATMs, EFTPOS, cheque and counter withdrawals
    Overall rating

    8.2

    Based on 400 Bankwest bank account reviews

    Need more information?
    Go to site

    More info

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