Macquarie Bank Cash XL

Macquarie Bank Cash XL

Maximum Variable Rate


Standard Variable Rate


Do you want a competitive interest rate on your investment yet keep it handy. Then take a closer look at Cash XL from Macquarie Bank

  • Deliver returns to your clients while keeping their funds available at-call.
  • Make the cash portion work harder.
  • No minimum investment.

Product details

The Cash XL is an at call savings account that gives you a high return on your investment without any requirements to meet. There is no minimum balance to maintain and no maturity date to wait for, but you still get the benefit of a competitive interest rate. This is an ideal account to consider if you need a secure hub for your excess investment funds, but don’t want them locked into a term.

This product no longer exists

As of October 2016, Macquarie Cash XL is no longer available to new customers. Please refer to Macquarie Bank comparison page for a list of other options.

What are the features of the Macquarie Bank Cash XL?

The Cash XL is structured to help individuals who are building their personal wealth continue to see a rate of return for their money during investment down time. In order to maximise your money’s potential, you should first compare the features of this account with other investment hubs offered by various Australian banks:

  • Account keeping fees. You will not be charged an account establishment or any monthly account keeping fees for the Cash XL.
  • Minimum account balance. Macquarie Bank does not require that you maintain a minimum balance with this account.
  • Interest rate. The interest rate for this account is a competitive variable rate that is applied to every dollar invested. There are no interest rate tiers, so you earn interest at the same rate no matter how much money is in the account.
  • Interest calculation. The interest is calculated on each daily balance and then paid into your Cash XL account once a month. This feature allows you to earn compounded interest, furthering your savings gain potential.
  • Accessibility. The Cash XL will need to be linked to a nominated account, which will be used to process deposits and withdrawals. Deposits can also be made using BPAY, direct debit or a funds transfer from another Australian bank account. You will manage this account using Macquarie Bank’s internet banking platform.
  • Joint account. The Cash XL can have more than one listed account holder.
  • Availability. This is an account that can be used by individuals, companies, trustees, government bodies, registered co-operatives, and incorporated or unincorporated bodies.


  • $0 minimum balance required
  • $0 account keeping fee per month

How do I apply for a Macquarie Bank Cash XL?

In order to apply for this investment savings account you will need to complete an application and either bring it to a Macquarie office directly, or allow your financial services professional hand it in for you. You should also be aware that certain eligibility conditions must be met in order for your application to be accepted:

  • Minimum age. All applicants must be at least 18 years of age or older. If you are opening this account as a trustee on behalf of a minor, additional information will be needed such as a tax file number (TFN) or exemption reason in order to prevent tax from being withheld from the interest earnings.
  • Residency requirements. All applicants must be Australian residents with a residential address inside of the country.
  • Depository requirements. Macquarie Bank does not require an opening deposit when activating this account.

You will also need to provide documentation in order to prove your eligibility to Macquarie Bank and ensure that the account is established correctly:

  • Tax file number. In order for withholding tax to be deducted at the correct rate, it is recommended that you provide your TFN or exemption codes when applying. This is not obligatory, and you can provide the bank with that information at a later date.
  • Identification. You are allowed up to five account holders for one account. Each of them is required to provide copies of identification documents. This could be an Australian passport, current international passport, government issued driver’s licence or an identification card issued by a state or territory that contains your photograph and proves your age.
  • Special circumstances. Other documentation may be required depending on the purpose for you opening this account. For example, if you are a sole trader who will be using the Cash XL as a part of your business than you will need a copy of the registration of your business name. If you are unsure of the types of documentation required, you can visit Macquarie Bank website and see a complete listing based on the account type.

After receiving your application Macquarie Bank will verify the details you provided and contact you with the new account details. At this point you should be able to start making your deposits in the Cash XL account.

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