In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • FAQ
  • Your reviews
  • Ask a question
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Macquarie Cash Management Account

Macquarie Cash Management Account
Maximum variable rate
3.00% p.a.
Base interest rate
3%p.a.

Our verdict

Investors can store their excess investment funds in a flexible account.

This account also had online trading integration and is SMSF ready.

Pros

  • $0 monthly account fee.
  • Different types of account are available such as Joint, Sole Trader, Deceased Estate and even investment for your child under 18 years of age.
  • Available for SMSFs, online traders and investors.

Cons

  • Minimum opening deposit $0 required

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • FAQ
  • Your reviews
  • Ask a question

The Macquarie Cash Management Account is especially designed for the investor in mind. By providing you with fast access to your capital, you can make investment decisions in an instant. This account works for SMSF trustees, online traders and professional investors as a savings hub in between opportunities.

Details

Key details

Product Name Macquarie Cash Management Account
Maximum Variable Rate 3.00% p.a.
Standard Variable Rate 3.00% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 18

Key features

No ongoing fees

There are no monthly account keeping fees or management fees when you keep your cash in this account.

Interest paid monthly

The interest is calculated on your daily balance and paid into the account monthly, giving you the opportunity to earn even more with compound interest.


How to apply

If you find that the features of the Macquarie Cash Management Account fit in with your investing style, you can complete an application online in just a few minutes by visiting Macquarie website, or download and print an application form.

Eligibility

In either case you are going to first want to ensure that you are eligible for this type of cash management account:

  • Minimum age. You must be at least 18 years of age in order to qualify for this account.
  • Residency requirements. All eligible applicants must be an Australian resident with a verifiable residential address.

FAQ

Your reviews

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Staven

February 12, 2020

Does interest get paid on the first $5,000 or only on the balance above $5,000?


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Jhez Finder

February 12, 2020

Hi Staven,


Thank you for your comment.


The interest on the Cash Management account is calculated using stepped interest rates, which means that you’ll be paid a different interest rate for different portions of your balance. Balances between $0 and $4,999.99 will not earn interest and any balance above $5,000 will earn the interest rate, hence, you’ll earn interest for the first balances of $5,000 +.


Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.


Hope this helps.


Regards,

Jhezelyn


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Clare

December 03, 2017

I have a cash management account. Can I get a debit card to go with it??


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Anndy Lou Finder

December 03, 2017

Hi Clare,


Thanks for your question.


The Macquarie Cash Management account does not come with a debit card. However, if you want to withdraw or get money from this account, you have several options available:


1. Transfer money to any Australian bank account

2. Use BPAY to make payments

3. Set-up a one-off or recurring payments.


I hope this helps.


Cheers,

Anndy


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Pauline

September 08, 2016

With a Cash Management Account, are you required to regularly deposit funds? I am considering the Macquarie Bank Cash Management Account.


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Clarizza Fernandez Finder

September 09, 2016

Hi Pauline,


Thanks for your question.


There’s no minimum deposit required per month on this account, although it should be noted lack of any transactions for up to 3 years may qualify it as unclaimed money. However your bank should notify you before unclaimed money is handed over to ASIC.


Hope this helps.


Clarizza


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