Macquarie Bank used to offer two types of transaction accounts, the (no frills) Transaction Account and the Platinum Transaction Account. From 2 April 2020 there will only be one type (to be called Transaction Account), all accounts will have access to Platinum benefits, and the $4,000 monthly deposit requirement for Platinum benefits will be waived.

Platinum benefits include:

All fees have been removed from Macquarie Bank Transaction and Savings Accounts since 23 March 2020. Previous paid services are now free. These include:

international cash withdrawal, international funds transfer and Real Time Gross Settlement (RTGS) fees

voucher request, special clearance and bank cheque fees

chargebacks, investigation fees and requests for historical or reprint of statements

(other financial institutions, such as the banks of international merchants and international ATM operators, may charge you fees)

The Transaction Account pays 0.35% p.a. interest from 23 March 2020 on full balance. Previously it paid no interest for balance below $5,000.

Don't forget: