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Macquarie Transaction Account

Earn 1.50% on your transaction account balance and pay no account fees, no international fees and get refunds on all Australian ATM fees.

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.

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Account keeping fee


ATM withdrawal fee


Overseas ATM withdrawal fee

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Product NameMacquarie Transaction Account
Monthly account fee$0
Card accessMastercard
ATM Withdrawal Fee$0
International transaction fee0%
Monthly deposit required to waive account feeN/A
Contactless PaymentsApple 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.

Expert review

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).

Key features

No monthly account keeping fee

You will not be charged any monthly account keeping fees.

Earn 1.50% 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 1.50% 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.

How to apply


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. Before beginning make sure to check that you are eligible for the Transaction Account:

  • Minimum age. This account is only available for individuals aged 12 and over.
  • Australian mobile number. You must have a valid Australian mobile number to apply for this account.

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  1. Default Gravatar
    April 18, 2022

    What foreign currencies can I preload into this debit card? The intention is to use it overseas.

    • Avatarfinder Customer Care
      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.


  2. Default Gravatar
    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?

    • Avatarfinder Customer Care
      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!


  3. Default Gravatar
    March 27, 2018

    Are you able to open a Macquarie Transaction Account on line in joint names with your partner?

    • Avatarfinder Customer Care
      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!


  4. Default Gravatar
    January 15, 2018

    Is there still a $5 overseas ATM fee? I had heard Macquarie has removed this fee with their Macquarie transaction account.

    • Default Gravatar
      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


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