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This bank account gives you easy access to your money while also paying 1.50% 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.
$0
Account keeping fee
$0
ATM withdrawal fee
$0
Overseas ATM withdrawal fee
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Product Name | Macquarie Transaction Account |
---|---|
Monthly account fee | $0 |
Card access | Mastercard |
ATM Withdrawal Fee | $0 |
International transaction fee | 0% |
Monthly deposit required to waive account fee | N/A |
Contactless Payments | Apple Pay, Google Pay |
Review by
Alison Banney is the banking and superannuation editor at Finder. She has written about finance for more than 8 years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.
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).
8 Comments
April 18, 2022
What foreign currencies can I preload into this debit card? The intention is to use it overseas.
May 16, 2022
Hi Tino,
Unfortunately, you can’t load any foreign currencies onto the Macquarie Transaction Account, just AUD. You can consider a multi currency account instead.
Thanks,
Alison
March 26, 2019
I think one of the most important questions is, how is exchange rate calculated on this account? Bank’s rate or Master Card Rate?
March 28, 2019
Hi Stewart,
Thank you for getting in touch with Finder.
Overseas transactions with this Macquarie Transaction account are processed using the Mastercard foreign exchange rate.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
March 27, 2018
Are you able to open a Macquarie Transaction Account on line in joint names with your partner?
March 27, 2018
Hi Alan,
Thank you for getting in touch with finder.
Yes, this account is designed for individual or joint account holder use and cannot be opened on behalf of a business, trust or deceased estate. You are able to apply for this account over the phone or alternatively by visiting the Macquarie Bank website to fill out an online application form.
I hope this helps.
Have a great day!
Cheers,
Jeni
January 15, 2018
Is there still a $5 overseas ATM fee? I had heard Macquarie has removed this fee with their Macquarie transaction account.
January 16, 2018
Hi Tim,
Thanks for your inquiry
The free ATM transactions only apply to domestic ATMs. If you’re going to use an ATM overseas, you will be charged a $5 transaction fee.
Hope this information helps
Cheers,
Arnold