This bank account gives you easy access to your money while also paying 4.75% interest on your balance. There's no withdrawal restrictions or deposit requirements - you can access your money whenever you need using the Debit Mastercard, Apple Pay or Google Pay. You'll also have all Australian ATM fees refunded back into your account.
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🏆 Finder award
Macquarie Transaction Account
- Account keeping fee
- $0
- ATM withdrawal fee
- $0
- Overseas ATM withdrawal fee
- $0
Our verdict
Earn 4.75% on your transaction account balance and pay no account fees, no international fees and get refunds on all Australian ATM fees.
Finder Awards winner
This transaction account is quite unique because not only does it provide easy access to your money with very few fees, it also pays interest on your balance. Most transaction accounts don't offer any interest, so this is a great perk and helps you earn more money without having to do anything (there are no conditions to meet).
Pros
-
Earn interest on your balance
-
No ATM fees
-
No international purchase fees
-
No monthly account keeping fees
-
Convenient on-the-go banking with the mobile banking app
Cons
-
No branch access
Details
Key details
| Product Name | Macquarie Bank Transaction Account |
| Monthly account fee | $0 |
| Card access | Mastercard |
| Own network ATM fee | $0 |
| International transaction fee | 0% |
| Monthly deposit required to waive account fee | N/A |
| Contactless Payments | Apple Pay, Google Pay |
Eligibility
| Minimum Age | 12 |
| Joint account availability | Yes |
| Minimum opening deposit | N/A |
| Residency status | Permanent Australian residents with an Australian address |
Congratulations, Macquarie!
Macquarie Transaction Account received the following awards in the 2024 Product Awards:
- 'Transaction Account' - Winner
- 'Travel Debit Card' - Highly Commended
Key features
No monthly account keeping fee
You will not be charged any monthly account keeping fees.
Earn 4.75% on your balance
This transaction account is unique because it pays interest on your money, while also giving you compete access to it for day-to-day purchases. You'll earn 4.75% on your balance, with no conditions to meet.
Debit Mastercard
Your account is linked to a free Debit Mastercard which allows you to make withdrawals at ATMs as well as make purchases in store and online wherever Mastercard is accepted. This includes within Australia and overseas.
Your reviews
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Alison Finder
Editor
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Sarah Megginson Finder
July 29, 2024
Hi Cheng,
You must be an Australian resident with an Australian residential address in order to qualify for this account.
SAROR
June 13, 2024
Where can I find atm machine of macquarie bank
Sarah Megginson Finder
June 15, 2024
Hi Saror,
With Macquarie Bank, you can access over 24,000 ATMs across Australia to withdraw cash using your Macquarie debit card. If you’re charged a fee, they’ll automatically refund it to your account.
Hope this helps!
Esther
March 27, 2024
I have AUD on a travel card. The only way I can transfer this money to a bank account is to withdraw it and deposit the cash. I read that Macquarie won’t be accepting cash deposits from May 2024 anymore. How can I make a cash deposit?
Sarah Megginson Finder
June 10, 2024
Hi Esther,
Macquarie is ending its partnership with NAB branches as of November 1, but until that date, cash deposits and withdrawals will be available for Macquarie customers at NAB branches.
Hope this helps!
David
January 09, 2024
Does my 13 y/old require a TFN, she doesn’t have one as she’s not working. Still a student..??
Sarah Megginson Finder
January 09, 2024
Hi David,
You don’t need to provide your TFN if you are under 16 years of age, the account is in your name and the account earns less than $420 interest each year. If you expect to earn more interest than $420 a year, you would need to provide a TFN to avoid paying withholding tax.
Hope this helps!
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John
January 06, 2024
Can I get a debit card without having a Macquarie savings account?
Jason Loewenthal Finder
January 08, 2024
Hi John,
This account is an everyday transaction account and comes with a debit card.
I hope that helps.
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Cheng
July 27, 2024
Am I eligible to open a joint account if I am holding a international student visa (500) or graduation visa (485)?