Hey guys
I need a bank with a competitive interest rate and was looking at Macquarie.
I realise the likes of UP and ING offer good products too but I thought if anything were to happen to me I didn't really want my tech challenged parents to have to navigate app and online only banks.
Are you guys that are with them happy?
I noticed they were at the top of the ozBargain survey so thought they must be alright. No osko is the only negative I could find.
Experiences appreciated :)
Thanks mate,
Mines more just in a personal capacity. Thought I'd feel a bit safer with it in a bricks and mortar bank too,. And they're the only one with decent interest rates on savings
All good. You should be able to link with someone there is a sense that they become your CM.
Just see how you go. But generally a good group of guys and girls.
Sometimes in the past, their systems were a bit average and I did notice an occasional mistake on things, but they always admitted the error, fix whatever the issue was up, and got on with things. Then away we went!
20yrs later still doing frequent business with them. Bank accounts, leasing, and so on. One of the better banks in my opinion.
Deal with them in a supply/vendor capacity every few days and find the contacts I interact with pretty good people too.
Became close with one of my old CM's and while I'm not pushing finance through him anymore, we still keep in touch and have a drink every so often.
Been with them for a few years now, after moving from ING. Have a number of transaction and savings accounts with them.
Not a bad word to say - their app and web platforms are quite simple, but have decent features.
Savings interest rates aren't amazing, but that's pretty par for the course at the moment…
Good to hear :)
Does it take long to get funds from other banks available in there? I'm kinda addicted to osko now. But it's not a deal-breaker.
They have inbound NPP
Not at all - transfers from most other banks are near instant.
in this day and age 99.9% of my banking is done online. Even then Macquarie has very few branches and they're dwindling in number
SIgned up to Macquarie when they introduced an interest rate of 1.3% only for them to roll it back 3/4 months later, bit of a dodgy act and it left a bad taste in my mouth.
Else have been with UBank (100% online) and had zero issues and a fairly good interest rate next to ING.
Just moved all my personal banking to them.
PROS:
- App and online platforms are very simple/polished/easy to use
- No international transaction or ATM fees.
CONS:
- They only have NPP enabled. not OSKO. If you have accounts with other banks that only uses OSKO, then you won't get real time payments to or from the account.
- This one is a big one for me. Their debit card is not an eftpos card. Its only connected thorough Mastercard network. So on the POS terminals you have to either tap or select credit. If you select savings or cheque, the transaction doesn't go through.
Another thing to note by not having eftpos is usually at the doctors all Medicare rebates are processed via eftpos only. in that case you won't be able to use your debit card.
Details here - https://help.macquarie.com.au/s/article/November-2020-produc…
How much is the competitive interest rate? Is it ZERO?
Bank make between 10% to 17% on the capital and pay 0.0000000000001% to customers.
Why are people still leaving their hard-earned money in banks?
Douchebag middle management and the HR is literally the scum of this earth. Would never bring my business to these vultures.
Had a bad employment experience with them? Do share…
If you're a white person or a pretty girl, you'll do fine at the bank.
Shit … I'm an ugly asian male.
@bobbified: https://www.glassdoor.com.au/Reviews/Macquarie-Group-Reviews…
Don't worry. Those pussies are too scared to act like that in the real world.
Moved across from ING to them. App and website are super easy to use.
My only comment is that they have the worst looking trading platform out there, and there is no dedicated section within the app or seperate app for trading. If you click on your portfolio within the app it just opens a webpage for you to login to their desktop site.
If you don’t have stocks then it’s not much of a concern. But for someone who has everything consolidated with them I really wish they invested more money into the trading platform.
Other thing worth noting is that their cards don’t work on BeemIt - debit or credit. Debit because it’s not EFTPOS, and credit says that it’s an international card for some reason. I followed up with the beemit support team and they said it’s simply not supported at the moment.
Do a lot of business with Mac Bank, personally and commercially. As a client and supplier.
Pretty good guys and girls in most cases. But like anywhere, there is the occasional black sheep (as the saying goes).
If you can get yourself a dedicated client manager, then you should be all set! :)