Macquarie Bank Savings Accounts

Macquarie Bank was first established in Australia, from London, in 1969 and began operations from Sydney in 1970, with just three staff. Since then Macquarie have expanded, but the bank remains headquartered in Sydney. Macquarie now offers Australian savers, investors and banking customers a range of financial, advisory and investment services based around the company’s core principles of integrity, client commitment, the strive for profitability, the fulfilment of their people, team work and all to the highest standards.

Macquarie Bank Savings Accounts

Choosing Macquarie Bank for your financial needs offers you an experienced and well rounded cash management solution as all Macquarie products have been designed to work in harmony and you can compare the combinations which suit your needs, side by side here at Savings Account Finder™.

Macquarie Bank Term Deposit

Macquarie Bank Cash Management Account

Compare the Macquarie Bank High Interest Savings Account

The Macquarie Cash XL account is the high interest online savings account for serious investors. There are no establishment or transaction fees on your Cash XL account and no minimum opening balance is required.

How to use the Cash XL high interest savings account:

• You can complete an application form online, but to apply you must print and send the completed form with your identification details back to Macquarie Bank.
• You can transfer in your funds from any account using the Macquarie Bank direct transfer details, you can make payments using BPAY, or transfer the money via phone and internet banking – you cannot make cash or cheque deposits to the account.
• When you transfer funds into your Cash XL account they will travel overnight and arrive the next day ready to earn you interest.
• Your savings will earn the Macquarie Bank standard variable interest rate with interest calculated daily and paid monthly.
• You don’t need to maintain a minimum ongoing balance.
• You can make unlimited deposits and withdrawals to and from your Cash XL account.

To maintain control over your finances you can link your Cash XL high interest online savings account to the Macquarie Cash Management Account to give you instant access to your funds and allow you to pay bills and make purchases.

Benefits of the Cash Management Account

Macquarie Bank encourages you to use the Cash Management Account as the hub for your financial and investment needs. The Cash Management Account is easily linked to your Macquarie online savings accounts, term deposit accounts and can be used with your existing everyday accounts to make purchases.

The Cash Management Account also includes:

• No opening fee, and no fees for online transactions.
• You can apply in the same way – and at the same time – as applying for your high interest Cash XL savings account.
• Electronic funds transfer between your Macquarie savings and investment accounts, and existing external savings or transaction accounts.
• You can pay your bills by BPAY or direct debit from your CMA.
• You can write cheques from your CMA.
• You can conduct telegraphic transfers.
• The Macquarie CMA requires a minimum investment and ongoing balance of $5,000.

How to Choose the Right Savings Account

At Savings Account Finder™ we have all the savings and transaction accounts available to Australian banking customers compared side by side to help you see and weigh up the benefits which you want and need in your banking products.

Important things to remember when comparing Macquarie Bank savings and transaction accounts:

• Does your everyday transaction account have included EFTPOS and ATM transactions? The Macquarie Cash Management Account is designed to be the hub of your funds and allows you to diver all of your salary, investment dividends and other funds into one online account, then transfer what you need to a transaction account, leaving the rest behind to pay bills and be reinvested into your high interest savings account.
• Do you need to be more organised? Do you have a transaction account for your employer to pay your wages into and another account where the dividends from your shares are deposited and yet another bank account which you can write cheques from and another to allow you to use a debit card? Yes – it’s complicated. However, that where the Macquarie CMA comes in – with all of your funds coming to one place, you can see exactly how much money you have for the month and can allocate bill payments, investments and savings. With all of your funds managed from your CMA you’ll easily be able to maintain the minimum balance required, and earn additional interest.
• Do you want to pay fewer fees? If you have a range of accounts for each of your transaction needs, consolidate them and get organised with a Cash Management Account. With no fees for online transactions, use the CMA to make BPAY and online payment transfers and close your other transaction accounts to save on monthly account fees and transaction charges.

Once you have compared the Macquarie online savings and transaction accounts here, you can travel through our secure link to download or fill in the Macquarie application form and to start the process. When you can manage your funds and grow your savings from one account with Macquarie Bank you will save time and money, and be able to keep your savings goals in line.

Related Resources

• Macquarie Bank Term Deposit Product Details
• Macquarie Bank Term Deposit Review
  As one of Australia's most reputable banks, Macquarie offers a variety of options for you to achieve your investment aims. With various term offers available you can find the investment period that's right for you between 1 month and 2 years.

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