Macquarie Bank are increasing their interest rate by 0.25% on November 16, going from 3.20% to 3.45%.
It's not the best rate, but Macquarie isn't without it's perks. No hoops, discounted gift cards, not requiring 2 accounts and interest on a transaction account.
New customers can get a 4.25% intro rate for 4 months with their Savings Account.
Personal
Thx
Weird one - my savings is on that honeymoon 3.2%. Will they just bump it to 3.45% or am I going to have to move it to the transaction account?
It will be bumped up.
Two major things I keep a Macquarie account for.
Instant gift cards for a whole bunch of stores of any denomination with no limit I've bumped up against.
Transfers. For some reason, they transfer to some places in only several minutes, like Stake, whereas it takes some other banks till the next day (eg, ING; and yes after multiple deposits). And the $100,000 limit with the authenticator, which is a lot higher than some. I hate having to call. And, unlike some, you can transfer right out of the Savings account.
And while it's not the highest, the interest rate is still better than most.
how do you move such as a 100k from one bank to another in one go?
So who has the best no-hoops no
-frills savings nowdays? Lost the apread link.
How fast to set up and transfer fund from CBA? Do we need to visit the bank for paperwork or signature?
https://www.savings.com.au/news/rba-savers-december-2022
The base rate of Macquarie Bank's savings account will lift to 3.70% p.a., while the welcome rate for new customers will remain at 4.25% for the first four-months up to balances of $250,000.
Does this apply to business or only personal account?