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 |
Best Transaction Account
The Macquarie Transaction Account has no account keeping fees, no international ATM fees and pays a refund on any local ATM fees charged. However what really makes this account unique is that it pays a high interest rate of 4.75% p.a., with no conditions to meet and complete access to your money.
Full list of 2024 winners
Best Travel Debit Card Finalist
Congratulations to Macquarie Transaction Account for being a finalist in the Best Travel Debit Card category in the 2024 Finder Awards.
Full list of 2024 winnersKey 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
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.
Vanessa
December 07, 2023
If my child is 3 months off being 12 could I still open an account for her
Sarah Megginson Finder
December 11, 2023
Hi Vanessa, You’ll need to wait until she turns 12 to open this account for her.
Andrew
October 08, 2023
Can I get a debit card for myself and my wife?
Sarah Megginson Finder
October 13, 2023
Hi Andrew,
Yes, this account comes with a debit mastercard. This account is designed for individual or joint account holder use, so you will be able a card each for yourself and your wife.
PAT McKay
October 06, 2023
Do you have banks in Wollongong
Sarah Megginson Finder
October 13, 2023
No Macquarie Bank doesn’t currently have an office in Woollongong.
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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..??