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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

    • emperor on 25/01/2017 - 23:35

      So how do we deposit cash (at least $250) to use the debit card?

      • JSQUARED on 25/01/2017 - 23:36

        You can transfer money from another bank account (external)

      • hashtagbargain on 25/01/2017 - 23:52

        Basically, you can't deposit cash or cheques into this account. Very strange I know. I couldn't believe it myself, so I called them, only for them to confirm that is the case.

        Given the variety of alternate options for transaction accounts (try ING, nab or Citi), I'd happily avoid Macquire bank for this purpose!

        • emperor on 25/01/2017 - 23:59

          Can we open a savings account and link this transaction account to the savings? Then as @JSquared said, transfer the needed amount from external bank to Macquarie savings to use for transaction account?

  • Zaenille on 25/01/2017 - 16:31

    Used newland78's referral ID. Waiting for my email to come.

  • Autonomic on 25/01/2017 - 16:31
    +2

    Macquarie has an excellent banking app as well.

    Also as a headsup, ING also offers a $50 referral bonus or $75 signup. Although you have to deposit $1000, but you don't have to spend anything to get it.

  • TimApple on 25/01/2017 - 16:35

    Is there any loop hole that allows them to takeaway the free monthly fee for life?

    • nightelves on 25/01/2017 - 16:36

      what monthly fee? Didn't know there was one

      • Turd on 25/01/2017 - 16:38

        Maybe Nobita clicked on the page link and not the referral links as instructed to. This is common esp if you are browsing ozb on mobile or such

    • Turd on 25/01/2017 - 16:37

      Yes click on one of the referral link to obtain the account.

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

      As part of this offer you'll be automatically upgraded to the Platinum Transaction Account, without the need to deposit $4,000 per month.

  • thehe11 on 25/01/2017 - 16:35

    Should I expect to find the Australia-wide $0 ATM fee clause in the terms and conditions? So far I can only see that there's no ATM fee for rediATMs.

    • Turd on 25/01/2017 - 16:36
      +1

      Our new digital banking experience allows you to track your spending by category as well as offering perks like a bank account with free access to any ATM in Australia.

    • thehe11 on 25/01/2017 - 17:01
      +2

      In case anyone is wondering about the details, this is at the bottom of the page in fine print after you expand Additional information on products and services featured on this page.

      We do not charge transaction account holders fees for withdrawals or balance enquiries made with their debit MasterCards at ATMs in Australia, but ATM operators outside of the rediATM network may. If an ATM operator intends to charge you a fee, this will appear on the screen at the time of the transaction and will be debited to your account if you proceed with the transaction, but we will rebate that fee to your account. Both the fee charged by the ATM operator and the rebate applied by us will appear on your account statement. The rebate doesn’t apply to transactions at international ATMs, any fees or costs related to foreign currency transactions or to any fee charged by a merchant for making a cash out transaction. This offer may be changed (including by introducing a cap on the amount of fees rebated) or withdrawn at any time by us.

      I'm not seeing the rebate mentioned in the terms and conditions, so I'm assuming that Macquarie is not obligated to notify you (like they are for changes to terms and conditions) if they change their minds on the rebate for non-rediATMs.

  • Peck on 25/01/2017 - 16:40
    +1
    1. Whilst not great interest rates, it is still worth mentioning that this account attracts a stepped interest rate for amounts over $5,000.
    2. So just to be clear, with the cashout transaction…..can I buy, say, an 80 cent can of dog food at Woolies and get $100 cashout, and receive a 50 cent reward? I have never used 'cash out' function.
    • Turd on 25/01/2017 - 16:43

      Yes

      For the first 200 cash out transactions of $100 or more each year in retail stores

    • sween64 on 25/01/2017 - 17:15
      +1

      ING did and may still offer a similar cash out reward.

    • JIMB0 on 25/01/2017 - 17:59
      -1

      So the real part of this deal is withdraw $100 x 200 times @ 50c ea = $100

    • peterpeterpumpkin on 26/01/2017 - 10:00
      +2

      Woolworths allow cash out without even making a purchase.

      • Peck on 26/01/2017 - 23:54

        OMG!! That is a winner!

  • damoo on 25/01/2017 - 16:41

    So you can't/don't have a referral link if you opened one of these accounts before today?
    Or am I missing something?

    I've had my account open for a couple of months and never received an email with a referral link?

    • Turd on 25/01/2017 - 16:43
      +1

      Strange. I got mine in email today, maybe bulk email sending is being slowed down by sender?

  • Zaenille on 25/01/2017 - 16:42

    Hey guys, where did you get your referral link?

  • RogueWolf on 25/01/2017 - 16:43

    Anyone know what are the ATM fees for overseas transaction? use citibank at the moment which is awesome overseas, this looks just as good but cant see anything about overseas ATM fees?

    • Turd on 25/01/2017 - 16:45
      +1

      I think it's ATM Fees within Australia and online purchases overseas

      • RogueWolf on 25/01/2017 - 16:51
        +1

        cheers, so citi still the better travel card for withdrawing cash I guess..

        • Turd on 25/01/2017 - 16:53

          I guess.

          But i Mean this is still good for free $40 isnt it?

        • RogueWolf on 25/01/2017 - 17:09
          +2

          @Turd: good for the $40, I called Maquarie, ATM fees for overseas are $5 per transaction plus any carrier ATM charge, there is no currency conversion fee when withdrawing cash, still better off using citibank when travelling, as for the phone service, had to ask the question 10 times before she understood what I was talking about, the call is transferred some asian country overseas & the line kept breaking out pretty pathetic for a multi bil$ company

  • FeZZa21 on 25/01/2017 - 16:54

    also this account doesnt seem to support/allow international transfers?

    They should at least implement Banking@Post for physical cash transfers.

    • Turd on 25/01/2017 - 17:02

      Need more customers for Bank@Post. I'd say.

  • BargainDude2 on 25/01/2017 - 16:56

    Advantages of Macquarie transaction account:

    • Really nice internet banking website
    • No international transaction fees
    • You can direct debit straight from the savings account, i.e. pay your bills from the savings account which earns interest

    Make sure to use referral code to sign up:

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

  • Turd on 25/01/2017 - 17:02
    +4

    For you all wanting referals.

    "This referral offer is only available to existing brainsourcers who received this email from Macquarie Bank and are not an employee of Macquarie Group. We may change or withdraw an offer at any time. If we determine that you are participating in a manner that we consider inappropriate, we may decline to credit your account or reverse a credit already paid. "

    So it was only for people who did brainsousing before.

    But still good to sign up your friends via one of the wiki links - https://www.ozbargain.com.au/wiki/macquarie_referrals

    • easternculture on 25/01/2017 - 17:29
      +1

      If we determine that you are participating in a manner that we consider inappropriate, , we may decline to credit your account or reverse a credit already paid.

      Lets see how they respond when they see all the traffic coming from ozbargain

  • abc on 25/01/2017 - 17:34

    How hard is it to close the account? Wanted the quick $40 but have too many bank accts from previous deals lol.

    • ilikeradiohead on 25/01/2017 - 17:58
      +2

      What does it matter if you have an unused bank account? An unused credit card may affect your credit rating, but are there any problems with bank accounts?

    • idonotknowwhy on 26/01/2017 - 12:08
      +1

      There's no harm in having another bank account.
      Use the new debit card number for 1-month free trials of Netflix/Stan/DigitalOcean, etc?

  • T-man on 25/01/2017 - 17:44

    Just applied and got my account instantly in email, waiting for the debit card to spend.

  • samiam410 on 25/01/2017 - 17:57

    Hi so ive opened the account and im just a little unclear as to whether after the 1st month whether you need deposit $4000 the following month to keep getting free atms, no account fees and no international transaction fees??

    Also I opened the account so i can use it when i travel overseas. Someone has already mention $5 Int ATM fees. So im planning on using ING card on ATMs and this card for in store purchases. what i wanted to know is do they charge a conversion fee?? I know ING charges 2.5% Int transaction but no conversion fee. Just trying to figure out if its even worth using a the Maq card instead.

    • ilikeradiohead on 25/01/2017 - 17:59

      Did you use a referral link? $0 deposit/month if you did.

      • Saitake12 on 25/01/2017 - 18:06
        +2

        Are you sure about that though? Someone called up Macquarie and they told them it's only the first month.

        • T-man on 25/01/2017 - 18:25

          Some staff don't even know what they are talking about, just ignore them.

        • samiam410 on 25/01/2017 - 18:27
          +5

          I just called up and the guy said very tentatively that it was for the lifetime of the account…

          did anyone see anything in T&C's had a skim but couldnt see anything :(

        • emperor on 25/01/2017 - 23:31
          +1

          Can anyone confirm whether it's only the first month or forever?

    • Tutien87 on 25/01/2017 - 17:59
      +1

      Have you looked into the citi bank plus account for overseas?

    • RogueWolf on 25/01/2017 - 18:17
      +2

      Samiam410 just open up a Citibank Pluss Account best card if your traveling

      • samiam410 on 25/01/2017 - 18:35
        +1

        man i have too many cards now! Citibank one looks like a far better option. might just spend the 250 get the 40 and close the account. Getting the citibank card now!

        • Tutien87 on 25/01/2017 - 18:45
          +5

          But holy crap the citibank app is total shit

        • samiam410 on 25/01/2017 - 19:17

          @Tutien87: well i guess ill only use it when i need to do international transfers and when im on holidays.

          Just wish the smaller banks could figure out a way to do cardless cash so i can rid of my comm bank account :/

        • Tyrx on 26/01/2017 - 16:24

          @Tutien87:

          Don't forget about the infamous Citibank support! "Sir, would you like to hear about our funeral insurance today? No? How about some travel insurance?"

        • easternculture on 26/01/2017 - 16:37
          +2

          @Tyrx:

          If you take a few seconds to listen, they actually have pretty good promo's. Last year, If you got life insurance and paid for a whole year, they credited back to you the whole year premiums after 3 months. So ended up paying for 3 months and getting something like $600 profit. Then cancelled. It was limited to 200 people

  • Succulent Synth on 25/01/2017 - 18:27

    I have been using this account for a few months now as part of the brainsourcing trial. I am really happy with it so far and they have been very receptive to feedback to improve the features.

  • relentless on 25/01/2017 - 19:40

    Other benefits include:

    90 days theft and damage protection for eligible Debit MasterCard® purchases.
    Cover against theft of your handbag or wallet up to $500.
    Emergency travel assistance services.

    • Autonomic on 25/01/2017 - 21:31

      90 days theft and damage protection sounds good until you read the fine print:

      Excess applicable to Purchase Security Cover

      $250 per Cardholder per claim - payable by the Cardholder(s).

      (c) Exclusions under Purchase Security Cover and Wallet Guard

      Theft or damage, to electronic items and equipment, including but not limited to, personal stereos, MP3 players, iPods or equivalents, computers/laptops or computer related equipment (and software), PDAs, mobile phones, smart phones, and their accessories.

      So doesn't cover any phones and costs you $250 to claim it…

      • mbck on 25/01/2017 - 21:49

        You got mixed up there

        250 excess is for the new item insurance. If you lose it, within 90 days, you can claim up to 2500 per claim or max 25000 per year.

        The wallet theft excess is 10%

        • Autonomic on 25/01/2017 - 22:26

          All the conditions I mentioned were for item insurance aka Purchase Security Cover.

  • SBOB on 25/01/2017 - 20:31

    signed up
    Getting a bit over ubank so this might be a worthwhile alternative

    • chyawala on 25/01/2017 - 21:48

      Except perhaps for the interest..

  • mbck on 25/01/2017 - 20:32
    -1

    Sweet. Heard Citi bank plus is going to have foreign transaction fee.

    Used the bottom of the referral page. Thanks adamonline

    • t0087669 on 25/01/2017 - 20:39

      Where did you hear that?

    • SBOB on 25/01/2017 - 20:42

      ha, i used the same… so he's got at least 2

    • illumination on 25/01/2017 - 20:47

      Yea what.. where'd you hear that?!

      • mbck on 25/01/2017 - 20:49

        https://www.ozbargain.com.au/node/289129#comment-4390925

        I know there was a thread somewhere that discussed this. But read the above thread.

        I'm just gonna double check.

        I hope I'm wrong.

        • illumination on 25/01/2017 - 20:55

          Very interesting..

          The only card I can think of now is ANZ Travel Adventures but that's a credit card =/ which is a good and bad thing.

        • chyawala on 25/01/2017 - 21:51

          @illumination:
          BW platinum, 28 Degrees…

        • illumination on 26/01/2017 - 00:17

          @chyawala: They don't allow fee-free withdrawals from ATMs…

        • nightelves on 26/01/2017 - 15:18
          +1

          @illumination:

          Used your referral mate

      • peterpeterpumpkin on 25/01/2017 - 22:13

        The consensus was that foreign fees will NOT apply to the Citibank Plus card (https://www.ozbargain.com.au/node/281210). A few of us rang Citibank and the call operators in the Philippines basically read the updated documentation and FAQ for themselves and concluded no. I know that's not very reassuring…

  • freelife on 25/01/2017 - 21:55

    Thanks signed up with boshimaro's referral

    • 76F on 25/01/2017 - 22:13

      thanks :)

  • sween64 on 25/01/2017 - 22:25

    About 30 referral links and over 2000 clicks, someone is gonna make a lot of money!

    • easternculture on 26/01/2017 - 15:50
      +1

      But then they say

      If we determine that you are participating in a manner that we consider inappropriate, we may decline to credit your account or reverse a credit already paid.

      Usually, referral systems will trigger an alert when unusual activity is suspected. They can then track the referral links to ozbargain.

      The referee wont be affected but the referrer may not get all the referral credits, in which they would cap the referrals to a certain number.

  • Bunnyburger on 25/01/2017 - 22:40

    Just wondering, anyway to tell if used a referral code or not? I wasn't sure what I clicked. Sleep deprivation does that =(

  • Blue Cat on 25/01/2017 - 22:44

    Anybosy have any comments or reviews on this bank?
    Looking to replace CommBank with this one for everyday purchases and savings account.

    • sween64 on 26/01/2017 - 09:16
      +1

      ING

  • SweetChilliPhilli on 25/01/2017 - 23:33

    What are the fees for transferring money between banks? E.g Combank & Macq in the event I wanted an account open with both.

  • Annisfinethings on 25/01/2017 - 23:55

    How do I post my link? Do I have to sign up first?

    • 76F on 26/01/2017 - 00:06
      +1

      Referral link only available to those who participated in the brainsourcing trial :(

  • hotsauce26 on 26/01/2017 - 00:00

    Signed up using sonya's referral, cheers!

  • lizzle on 26/01/2017 - 00:22
    +1

    Hrm does it matter whether you open the account using the 'Open account' link at the top, or the link below in blue? I noticed that they led to different urls. Only asking because I clicked the top link.

    • bluesky on 26/01/2017 - 00:55

      You are right, they are different links. Probably, won't make a difference.

    • lizzle on 26/01/2017 - 08:47

      Just got my account details, and can confirm the top link also leads you to opening the platinum account :)

    • Turd on 26/01/2017 - 09:28

      You must use the referal links in order to get the $40 and all the bonuses!!

      Use one of the referals here - https://www.ozbargain.com.au/wiki/macquarie_referrals

      • kimlyh on 26/01/2017 - 12:49
        +1

        Thanks Turd. I have use your referral link. ;)

        • Turd on 26/01/2017 - 14:49

          Thank you!

        • SBOB on 26/01/2017 - 16:55
          +1

          @Turd:

          you're going to be making a few hundred (or more) out of this deal, based on the number of people saying they have used your link
          You'll have to change your name to Rich Turd ;)

        • Turd on 26/01/2017 - 17:44

          @SBOB: lol still not enough for Syd property!

          Thanks!

  • Josh81 on 26/01/2017 - 02:31

    Thanks OP, thanks Turd

  • lcer on 26/01/2017 - 08:13

    Does anyone know up to how many years of transactions can you see with this account. And how many years of statements it keeps?

    • Turd on 26/01/2017 - 09:28

      Concidering it is a very new product hard to say, however I wouldnt be surprised if you emailed them and asked they will allow for long periods. Their help and suggetsiono emails are very very good and they take on feedback goodly unlike the big 5 banks.

  • imahapyboy on 26/01/2017 - 10:18

    time to retired my ING account?

    • sween64 on 26/01/2017 - 18:03

      ING has a better interest rate.

  • idonotknowwhy on 26/01/2017 - 11:20

    Applied using timdee's link

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