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Get $40 for Opening a Macquarie Platinum Transaction Account Plus Free Upgrade to Platinum

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Get $40 for Opening a Macquarie Platinum Transaction Account Plus Free Upgrade to Platinum
Go to Deal
Bargain4U on 25/01/2017 - 14:26 macquarie.com (6566 clicks)
Last edited 10/03/2017 - 16:36 by 3 other users

Use referral links at bottom of description, not the main link.

Open a Platinum Transaction Account by 31 March 2017 and automatically get upgraded to the Platinum Transaction Account, without the need to deposit $4,000 per month. Just spend more than $250 in the first 30 days using your new debit card.

For you to be eligible for the $40 reward, you must:

  • Open a Macquarie Platinum Transaction Account between 12:00am 25 January 2017 and 11:59pm 31 March 2017 using unique referral link.
  • Make $250 or more of purchases using new Macquarie Platinum debit MasterCard within 30 days of opening your account.
  • Not have held a transaction account with Macquarie prior to 24 January 2017.
  • Not be an employee of Macquarie Group.

Platinum Transaction Account Benefits:

  • $0 ATM Fees
  • $0 Account Fees
  • $0 International Purchase Fees
  • 50c reward for the first 200 cash out transactions of $100 or more each year in retail stores

MOD: Referral wiki removed. Use randomised referral instead.

Financial Bank Account Banking Transaction Account

Related Stores

Macquarie Bank
Macquarie Bank

closed Comments

        • iSamurai on 26/01/2017 - 13:46

          I'd go for the coles rewards MC for now. They charge an annual fee of $90 but the $100 off shop promo effectively cancels out for a year. Then you also earn 1% back as flybuys.

  • beeawwb on 25/01/2017 - 15:22

    I clicked "go to deal" but the page is specifically for Platinum Transaction Accounts. On the page it says "Looking to make less ongoing deposits? The minimum deposit for Platinum is $4,000 per month. Apply here for our Macquarie Classic Transaction Account with no minimum deposit requirements." which is contradictory to the "automatically get upgraded to the Platinum Transaction Account, without the need to deposit $4,000 per month" others are mentioning.

    Is there a different page with that term / conditions available, or am I missing something?

  • emperor on 25/01/2017 - 15:23

    "without the need to deposit $4,000 per month"

    Any idea if the deposit clause will be lifted forever or just for a limited time period?

  • afrowan on 25/01/2017 - 15:25

    you have to click on the "Macquarie Bank Referral Wiki" and pick one referral , then on the page should tell you whoever just "refer" you to open an account, and it explains how it will be free upgrade

  • Tasmaniac on 25/01/2017 - 15:28
    +1

    Thanks OP I used your referral, fingers crossed they don't take the full 60 days to deposit.

  • Turd on 25/01/2017 - 15:34
    +1

    1. Click on one of the referal links - https://www.ozbargain.com.au/wiki/macquarie_referrals

    2. Once your mate has opened their account and met the eligibility criteria, we’ll deposit $40 in your account – and also into your mate’s account.

    3. The more friends you refer, the more you could earn. Get in quick though as this offer is only available for the first 5,000 new accounts.

    What your mate needs to do

    1. Open a Platinum Transaction Account using your unique referral link by 31 March 2017. As part of this offer they automatically get upgraded to the Platinum Transaction Account, without the need to deposit $4,000 per month.

    2. Spend more than $250 in the first 30 days using their new debit card.

  • Saitake12 on 25/01/2017 - 15:35

    Anyone know if Macquarie Bank app shows pending transactions? One thing that annoyed me about ANZ is not being able to see your transactions for a few days, commbank and ING I know do this well.

    • Turd on 25/01/2017 - 15:39

      I think it does

    • dazweeja on 25/01/2017 - 15:41
      +1

      ANZ goMoney added "Pending Transactions for Visa Debit" in the last update (on Android at least). Too late for me as I'd already cancelled my account.

    • jwunda on 25/01/2017 - 17:49

      Yes it does

  • j2009 on 25/01/2017 - 15:38

    I've received email that my card is on its way. Do you guys get another separate email after?

    • Turd on 25/01/2017 - 15:39
      -1

      Referees do not know who used their links, untill oneday BAM $40 in account.

      or if you referred 1000 people that's $40,000 AUD!!

    • j2009 on 25/01/2017 - 15:41
      +1

      I am referring to the referral email

      • Turd on 25/01/2017 - 15:43

        Well I had my account previously when they offered the free $50. This was 2 months ago.

        So yeah… you might be out of luck. Just give your friends a referral from the wiki

      • midlake on 25/01/2017 - 15:55
        +2

        Same here. Used one of the referral codes from the wiki and was hoping to add mine - but I don't see anywhere to get this from……

        • Turd on 25/01/2017 - 15:57

          Wait next time I guess. :/

  • payton on 25/01/2017 - 15:40

    Bargain4U, your referral link is broken/wrong?

    • Moderatorneil on 25/01/2017 - 15:43

      Fixed.

      • payton on 25/01/2017 - 18:18

        Did OP just 'un fixed' it back to the long format and added extra words "original poster" with the name removed, or do I need to go to Specsavers?

        Sticks out because its different to the format of everyone else.

        • Moderatorneil on 25/01/2017 - 18:49

          Well, you can put the long link or a shortened link. Obviously the shortened link looks neater but either way.

          I've added the guideline to leave off comments that we have on the other referral wikis.

    • Turd on 25/01/2017 - 15:44

      He fixed it. I see he removed his name at the end. :)

      EDIT: Mods fixed it. boooooooo Thx Neil!

      • T-man on 25/01/2017 - 16:56
        +1

        I just applied one and used your referral link Victor :)

        • Turd on 25/01/2017 - 16:57

          Thank you!

  • lyl-Lychee on 25/01/2017 - 15:41

    Are there any catches, like annual fees?

    Op, I'm trying to use your referral link but getting "The page you have requested is unavailable!"

    • Turd on 25/01/2017 - 15:42
      +1

      NO annual fees.

    • Moderatorneil on 25/01/2017 - 15:44

      Fixed.

      • Turd on 25/01/2017 - 15:45
        +1

        Neil imagine 5000 people x $40, that's $200k free!!! haaaaaa 1/6 of a house in sydney!

        • payton on 25/01/2017 - 15:59
          +2

          ReferralCulture would be green with envy

  • illumination on 25/01/2017 - 15:46
    +18

    I've said that this card can almost replace ING Direct & Citibank with its key features being:

    • No ATM withdrawal free from any ATM in Australia
    • On the point above, no qualifying criteria to get this benefit (unlike ING). MEBank are the only other bank to offer a similar benefit without a qualification requirement.
    • No forex fee/international transaction fee on overseas transactions
    • Pretty nifty/user friendly app with a nice layout. Probably second to ING/CommBank

    However, during the Brainsourcing period I discovered a couple of limitations about this account/fees which mean it can't quite replace these two cards: Only negative:

    • $5 fee to withdraw from an ATM overseas is probably the only reason it can't quite replace Citibank
    • Transfers between your own high interest savings account and your Macquarie transaction are not instant

    The last point is one the biggest disadvantages of this account/card which baffles me. I have never known a bank which doesn't do instant transfers between your savings account and transaction account. Hell, if you do "Pay to Mobile" between ANZ accounts it's instant. If you do a CBA to CBA transfer, it's (kind of) instant.. yet intrabank, intra-account even, it's not instant with Macquarie Bank.

    I did provide this as feedback during the brainsourcing phase and it seemed to have been acknowledged.

    TLDR: Pretty damn good card which can almost replace Citibank Plus (no fee on overseas transactions) & ING Direct (no ATM fees in Australia). However, a couple of small annoying thing prevent this card from being a must have such as a $5 overseas ATM withdrawal fee, and non-instantaneous transfers between your own savings and transaction account. is the $5 overseas ATM withdrawal fee. However, for $40 just for opening account, it's probably a good time to open an account up!!

    User Edit (8/2): Turns out I was wrong about the non-instantaneous transfers. This was a separate issue I was experiencing and I completely misunderstood. Please see this comment.

    • Turd on 25/01/2017 - 15:48
      +1

      Did you give feedback when doing brainstorming about the savings -> mac account.

      Like ING should be instant, dont see why it cant be if it's own internal systems.

      • illumination on 25/01/2017 - 16:37
        +1

        Of course I gave them feedbcck because it's bloody ridiculous!! LOL.

        And they acknowledged it on their end too. They said "it's something we're well aware of and are working on it" and they "agreed with my complaint".

        It was the most baffling thing upon discovering it, because one of the tasks was to withdraw from an ATM.. and seeing as the money was in my Savings account, I had to transfer to the transaction account. I tried this two or three times to test, I recall. Definitely was not instant.

        Not just "like ING, it should be instant"… for any bank within accounts in your own name and login it should be instant!

        • Turd on 25/01/2017 - 16:39

          hahaha strange! Well at least it's fixed now I think based on the user below us.

        • lolcoaster on 25/01/2017 - 16:52

          What savings account was it?

          Macquarie is currently upgrading its core banking systems so depending on what type of accounts you hold, they might be sitting on different platforms and hence the delay.

        • illumination on 25/01/2017 - 17:12

          @lolcoaster:

          It's called "Macquarie Savings Account"

        • lolcoaster on 25/01/2017 - 17:14

          @illumination: On the website now, it has:

          "Instant access to your money

          Using our online and mobile banking, you can transfer cash from your Macquarie Savings Account to any Australian bank account, make BPAY payments, set up direct debits and scheduled payments.

          If you’re transferring funds to your Macquarie Transaction Accounts, you can then withdraw your cash immediately from ATMs and EFTPOS terminals."

          Maybe they changed that recently.

        • Saitake12 on 26/01/2017 - 01:58
          +1

          I was just testing this out now and can confirm intra-account transfers are instant.

      • SBOB on 25/01/2017 - 16:46

        though at 1.3% for <25k, its not much of a 'savings' account :)

        • sween64 on 25/01/2017 - 17:11

          Intro rate is about 2.7%. Still a better intro rate at Citi and ING's bonus is better if you meet the requirements.

    • legen.dary on 25/01/2017 - 15:49
      +1

      it's def instant transfers between the savings and transaction account!

      • Turd on 25/01/2017 - 15:50

        That's what I thought too!

    • Peck on 25/01/2017 - 15:55
      +2

      Yep, whilst I will get this to earn u and me $40 each , the Citibank plus card has done me well for overseas Atms.

    • sween64 on 25/01/2017 - 17:11

      I'll stick to CitiBank then.

    • illumination on 08/02/2017 - 22:54
      +1

      I feel very much obliged to provide this update.

      It has come to my attention that the non-instantaneous transfers were actually a separate issue I was experiencing between a different Macquarie Bank product I had (Macquarie Cash Management account) and transferring from that account to the transaction account.

      I wish I could apologise to everyone and anyone who made a decision not to apply for this product based on this information I shared. I also feel like I owe Macquarie Bank an apology for potentially losing them some customers.

      My deepest apologies to all affected parties..

      • Turd on 08/02/2017 - 23:16

        Still ok to get an account, offer ends end of March as long as people apply via the referral links wiki page.

        • illumination on 08/02/2017 - 23:18
          +1

          Oh yes of course. This was always not a bad account anyway, especially with the $40. It's just I feel that me highlighting that point would've probably put people off (understandably). It's just unfortunate that I was wrong.

        • Turd on 08/02/2017 - 23:24

          @illumination: all good, good follow up!

      • Hogg on 09/02/2017 - 19:27

        Great post man. It's easy for people to be passionate about posting negative reviews but it's always great to see someone correct themselves when they're wrong.

        Appreciate the post.

  • pyramid on 25/01/2017 - 15:48

    I have not seen any atm for this bank in Melbourne. Has anyone seen it?

    • Turd on 25/01/2017 - 15:49
      +2

      Use any ATM!

      • pyramid on 25/01/2017 - 15:51

        Thanks. Sorry noob question : $250 spend in 30 days meaning swiping and online shopping g or withdraw $250 from account?

  • vchan on 25/01/2017 - 15:53

    So is it free platinum for the first year or forever?

    • Turd on 25/01/2017 - 15:56
      +1

      foreverrrrrrrrrrrrr

  • pyramid on 25/01/2017 - 15:55

    $250 in 30 days- does it mean that card need to be swapped or atm withdrawal is considered as spending?

    • Turd on 25/01/2017 - 15:57
      +2

      ATM is not spending.

      Buy a Coles or Woolies Gift Card with it.

      • pyramid on 25/01/2017 - 16:00

        Great. Does paying bill online using this card consider as a valid spend?

        • lolcoaster on 25/01/2017 - 16:01
          +1

          Usually yes.

        • Turd on 25/01/2017 - 16:02

          Yeah coz it is a MasterCard and goes through the MasterCard network, so it is a Debit Card.

        • pyramid on 25/01/2017 - 16:06
          +1

          @Turd: Thank you. I used your referral link. Enjoy $40 :)

        • Turd on 25/01/2017 - 16:08

          @pyramid: Thank you! :)

        • Tutien87 on 25/01/2017 - 17:56
          +1

          @Turd: i also used ur link mr turd cause i like ur name😀

        • Turd on 25/01/2017 - 19:32

          @Tutien87: Thank You Too!!

      • emperor on 29/01/2017 - 00:38

        $250 need to be spend in one go? Beside Coles and Woolies, any other suggestions?

        • Turd on 29/01/2017 - 08:50

          No, doesnt have to be in one go

  • Munki on 25/01/2017 - 15:56

    Just opened one. Cheers. Looks to be a good account. :)

  • MrBr0 on 25/01/2017 - 15:57
    +1

    Supports Android Pay as well

  • zpohc on 25/01/2017 - 15:58
    +1

    Where do people get their referral codes from?

    I opened an account and set up Internet banking but can't seem to find it.

    • Turd on 25/01/2017 - 16:02
      +4

      I got my code 2 months aftering opening it. lol

    • Frankenbeanie on 25/01/2017 - 16:19

      I opened mine an hour ago and still havent recieved the refferal code :(

  • PrimalNuke on 25/01/2017 - 16:00

    Argh! Annoyingly, I didn't read the whole post and ended up signing up without using the referral links. Signed up again and guess I will just have to cancel the first one as soon as it comes.

    Thanks OP!

    • Turd on 25/01/2017 - 16:14
      +1

      May not get the $40. I dont know. Might be lucky though. Good luck!

    • Munki on 25/01/2017 - 16:19

      I annoyingly did the same, but opened up a second one with a referral link and called them up and requested a closure of the first account.

      Funny thing they sent through my account details for the first application almost instantly and the second one is still processing…(But it's actually all set up - just awaiting details via email).

  • peterpeterpumpkin on 25/01/2017 - 16:02

    Damn. I'd prefer not to spend $250. Any way to get a refundable gift card etc

    • Turd on 25/01/2017 - 16:03
      +2

      Pay your bills with it? Water? Electricity? Car? etc etc???? Food???

      • peterpeterpumpkin on 25/01/2017 - 16:08

        Thanks Turd. My bill situation over the next few months is complicated…

        What about Cash by Optus?

        • Turd on 25/01/2017 - 16:09

          Can buy a optus recahrge card?

          or Pay your optus bill at the post office using postbillpay and using this MasterCardDebit Card (which this product is).

        • JIMB0 on 06/02/2017 - 19:39

          @Turd: I used the card instore at the post office to pay a bill and only had the option of pressing savings. The transaction shows up on the website as a transfer.

        • Turd on 06/02/2017 - 19:52

          @JIMB0: possible the post bill pay biller only accepts eftpos?

          Or maybe the person didn't press to allow to pay via cc?

  • liveish on 25/01/2017 - 16:03

    I can not find the fee section

    Is the following true or is it only for International Purchase Fees

    $0 overseas fees on purchases
    $0 currency conversion
    $0 foreign transaction fees

    • Turd on 25/01/2017 - 16:05
      +1

      True

      • liveish on 25/01/2017 - 16:12

        Thanks mate

  • FeZZa21 on 25/01/2017 - 16:12
    +2

    I've applied and got confirmation email, how long does it take for it to become active and get your own referral link?

    • Turd on 25/01/2017 - 16:14
      +1

      After signing up the cards came around 5-7 days, activated and used them no problems.

      Ive had my account for like 2 months when they had the other $50 deal. So yeah.

      Best to give your friends a link from one of the wiki referal links if they want $40. ;)

      https://www.ozbargain.com.au/wiki/macquarie_referrals

  • ryann on 25/01/2017 - 16:20

    Signed up using a referral. Is it possible to get my own referral link so I can spam friends and family?

    • FeZZa21 on 25/01/2017 - 16:21

      That's what I asked above as well

      • Turd on 25/01/2017 - 16:21

        haaaaaaaa ;P

    • Turd on 25/01/2017 - 16:21

      Emails came today so you might not get referral link.

      Ive had my account for like 2 months when they had the other $50 deal. So yeah.

      Best to give your friends a link from one of the wiki referal links if they want $40. ;)

      https://www.ozbargain.com.au/wiki/macquarie_referrals

      • ryann on 25/01/2017 - 16:23
        +1

        Thanks, I might hold out for my own referral link which going off the trend will be for $30.

        • Turd on 25/01/2017 - 16:28

          Well tbh the $50 was not for referral it was a brainstorming project, depending when macquire need more customers it could still be $40. Here is hope!

  • nightelves on 25/01/2017 - 16:26

    How does one generate a referral link?

    • Turd on 25/01/2017 - 16:28
      +1

      You can not.

      Emails came today so you might not get referral link.

      Ive had my account for like 2 months when they had the other $50 deal. So yeah.

      Best to give your friends a link from one of the wiki referal links if they want $40. ;)

      https://www.ozbargain.com.au/wiki/macquarie_referrals

      • nightelves on 25/01/2017 - 16:30

        I might just give Macquarie a call and ask if they can upgrade me to the Platinum transaction account for free. But yeah plenty of time to wait for the referral to come through

  • hashtagbargain on 25/01/2017 - 16:29
    +4

    IIRC, the problem with Maquire bank is that there is no way to deposit cash into your account. They neither have branches and nor support Bank@Post.

    This is one good reason it shouldn't be your primary transaction account.

    • nightelves on 25/01/2017 - 16:32

      you can at NAB oops that's only for cheque deposit

      • Turd on 25/01/2017 - 16:34

        Back in the early days of CitiBank you went to NAB as well to deposit money.

        So similar thing.

        Chequeus

    • Turd on 25/01/2017 - 16:35

      I think the more people get on board they will have to or be forced to do something like link with Westpac or something or Bank@Post. Thus they need more customers

      • chyawala on 25/01/2017 - 21:32
        +1

        I have a hunch their main business is not everyday transaction accounts. More like big business credit.

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