| Product | Best rate (up to 1 year) | Minimum Deposit | Interest paid to another bank? |
|---|---|---|---|
| Term Deposit |
4.95% p.a.3 months ($5,000 to $1,000,000) |
$5,000.00 |
yes |
Mozo users have rated Macquarie term deposits on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
I planned on opening a Term Deposit Account today. I requested Macquarie collect my deposit amount from my ME Bank Account. I wanted to reduce the risk of fraud for me by Macquarie picking up the money. Macquarie Bank said they no longer do this became of the risk of fraud to them !!!! Isn’t that what Banks do as in Customer Service ? Obviously they are not concerned about the customers risk associated with transferring a large amount of money. They now request you open a transaction savings account and transfer the term deposit amount in there and they will pick it up from there. I did not want another savings account and the risk associated with transferring a large amount of money. Very Disappointed with the Service
Read full reviewI planned on opening a Term Deposit Account today. I requested Macquarie collect my deposit amount from my ME Bank Account. I wanted to reduce the risk of fraud for me by Macquarie picking up the money. Macquarie Bank said they no longer do this became of the risk of fraud to them !!!! Isn’t that what Banks do as in Customer Service ? Obviously they are not concerned about the customers risk associated with transferring a large amount of money. They now request you open a transaction savings account and transfer the term deposit amount in there and they will pick it up from there. I did not want another savings account and the risk associated with transferring a large amount of money. Very Disappointed with the Service
I 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
Read full reviewI 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
Macquarie are by far the most greedy, horrid Banks in this country. Their customer service is non existant. I tried to break a Term Deposit, they took 25% of my interest as a penalty. They kept me waiting on hold for an hour. NO MANAGER would speak to me. This is a greedy organisation which I suggest NO-ONE uses.
Read full reviewMacquarie are by far the most greedy, horrid Banks in this country. Their customer service is non existant. I tried to break a Term Deposit, they took 25% of my interest as a penalty. They kept me waiting on hold for an hour. NO MANAGER would speak to me. This is a greedy organisation which I suggest NO-ONE uses.
Macquarie is very tricky with its Term Deposits. You think you are investing for a fixed-term but It AUTOMATICALLY sets them to rollover. Then you have to go online to update the pre-set maturity instructions. But there is NO CONFIRMATION that your instructions have been received and acted upon. In fact, the website / app says it might take 1-2 days to be actioned. So you think there will be some kind of confirmation. Nope. This is a real pity as the transaction account is very convenient with a good interest rate and the TD rates are okay, though not as good as Judo Bank. BTW even Judo Bank with its basic website can handle updates to maturity instructions.. Sorry Mac, no more TDs with you.
Read full reviewMacquarie is very tricky with its Term Deposits. You think you are investing for a fixed-term but It AUTOMATICALLY sets them to rollover. Then you have to go online to update the pre-set maturity instructions. But there is NO CONFIRMATION that your instructions have been received and acted upon. In fact, the website / app says it might take 1-2 days to be actioned. So you think there will be some kind of confirmation. Nope. This is a real pity as the transaction account is very convenient with a good interest rate and the TD rates are okay, though not as good as Judo Bank. BTW even Judo Bank with its basic website can handle updates to maturity instructions.. Sorry Mac, no more TDs with you.