Macquarie Bank

Terrible experience trying to open a bank account for my new company. Have had back and forth emails uploading the same documents repeatedly with their verification system which is obviously an inadequate AI despite them trying to imply that it's human. Eventually got an email telling me to call the help line and then ended up a circular… Read more

conversation with an outsourced worker who took nearly ten minutes to tell me in the most roundabout and condescending way possible that the issue was that the JP who certified my business partner's documents had forgotten to cross out "copy/download" in the JP stamp wording. Looking back on it I'm wondering if the guy I spoke to was just highly autistic, or possibly even an AI himself. It's been a week, no bank account yet, losing clients and money left right and center. Just go into one of the big banks, save yourself.

If there’s a product that shouldn’t be using AI, it’s definitely the business in charge of making sure my money is safe. Moved all my funds recently after seeing they’ve moved their customer service to an AI chat bot, and can’t even afford to pay human advertisers to create an ad for them.

Recently opened a savings account with Macquarie so easy to do and great App. After this everything became mission impossible. Macquarie refuses to allow Third party access unlike other banks your partner can only get access via a power of attorney. To do this the bank will insist you complete numerous forms and provide a multitude of ID. It will… Read more

then reject your submission with all sorts of excuses. I see what is happening is it blocks anyone but yourself access to your account in the event of death. Please to the reader there is reason why this bank is not one of the big 4 or 5 don’t be fooled I have lodged a complaint with AFCA for its sharp practices.

I opened a savings account online and I received my card today and expecting payment to come through this account in couple of days so I tried to log into my account and it says Mac quarries ID is locked so I called the helpline and they told me… Read more

that my account has been canceled and he didn’t know why And for the money in my account I have to ask the person who transferred money in my account to do a dispute. all I can say stay away from this rubbish if you don’t want headache 0 out of 5 if there was 0

Macquarie Bank The Stalin Bank run by Hitler – It has been roughly 3 months and Macquarie Bank is still locked out my account and I try to find loopholes in terms and conditions but there are no terms and conditions stating that they need to lock me out of my bank account for three months and… Read more

still not being able to unlock it due to their behavior like children which is extremely difficult considering they are a bank

I opened an account in readiness for an inheritance payment. When probate finally wrapped up 4 months later, I discovered that the account (which I'd given lawyer to deposit the funds into) had been closed at some unknown date, with zero notification. Very anxious and confused, I phoned their customer support (haha) and was told that yes the… Read more

account had been closed, but could be given no explanation as to reason for this. I was told the funds would "most likely" bounce back to lawyer's Trust Account and that I could lodge a complaint if I wanted to. (!!!?) The funds were missing for 5 days causing me a huge amount of anxiety. Really shocking customer service!!! I have put this money elsewhere of course, and will make sure I discourage everyone I know from ever dealing with them.

IMPOSSIBLE TO SO BUSINESS. Just wasted an hour trying to deposit cash for services. Went to use my Macquarie card, and they are full cashless. Going to switch banks, this is nonsense.

I previously left a negative review about my experience with Macquarie Bank after having issues with a newly opened account. At the time, the situation caused me a lot of stress and frustration, and I felt the matter had not been handled properly. Since then, I want to be fair and update my review. After the matter was escalated, Macquarie… Read more

reviewed my concerns and worked with me to resolve the issue. The communication and support I received afterwards was much better than my initial experience.

I especially want to acknowledge Vanja, who handled the matter professionally and respectfully. She listened to my concerns, followed up with the relevant teams, arranged the necessary checks, and continued assisting until the issue was properly reviewed and resolved.

Although my initial experience was difficult, I appreciate the way the matter was ultimately handled. Based on the support I received afterwards, my view of Macquarie has changed for the better.

Thank you to Vanja! for her patience, understanding and assistance.

In December 2025 they closed accounts and they told me I couldn't have any more accounts with this bank without warning and they falsely accused me of doing something wrong when I never did also when I phoned them to ask them about it they were extremely rude and abusive to me so I would recommend staying away from this bank. Show details

Absolutely disgusting "service" from this bank. I successfully transferred a large amount of funds from my macquarie bank CMA into my external trading account. The next day I tried to transfer less than 10% of this amount using their digital transfer system. For some reason I was denied and then when I questioned the decision, I was "grilled" for… Read more

over an hour! I've complained to AFCA and that is still ongoing. Originally the ban was for three days - it's now been a month since I've been able to access my SMSF. I am a pensioner and want to access my own MONEY. The bank sent me a $250 woolies card because they "care"!. I even cancelled the transfer in question but nope, not good enough. If you want to fell what its like to live under NAZI rule, then bank with Macquarie.

A Macquarie agent blocked my account without giving me a reason why. I am still waiting to be able to access my account. This banks personnel lack the skills in customer relations. I have dealt with their customer relations before and they don't see you as their customer, they wield their power over you. So don't get involved with them. There… Read more

are much better banks out there with better customer service, agents who don't make assumptions. Do your research. Unfortunately, our system relies on banks, where, in short, it's about their profits. Not us!

Simple situation turned into nothing but hassle, screen broke on phone, got a new phone, couldn't log in due to authenticator, phoned so called customer service, answered heaps of questions then asked for driving licence and photo for verification. I uploaded this whilst on the call was told by the call centre they didn't know how long it would… Read more

take to be verified depends how busy they are, weeks later still no answer account stuck unable to access, ended up getting a new screen for the old phone and accessing my account. Withdrew all the funds and closed the account. Good job I didn't need the money in this period. Shambles of a bank wouldn't recommend to anyone.

Macquarie bank has provided a terrible customer service. I have spent hours on the phone trying to sort out various issues with them only to be put through to a variety of different departments to be finally told ring back on another number. I am still waiting now to try to resolve an issue with them and then will have no further contact with them.

We have been Banking with Macquarie Bank for 10 years. We were recommended them through our mortgage broker. In that time we have moved 4 times so have had to re-establish our house mortgage and general banking each time. As the years progressed customer service which was very luck lustre to begin with has diminished to a point of absurdity. It is… Read more

now just AI driven drivel. At first it was bad enough as there obviously was not enough training for customer service as it took multiple phone calls to rectify anything. But now its just adversarial to try and get anything done let alone on a weekend. I understand their business model and keeping costs down but its taken 2 or 3 simple problems that should have been easily fixed over a phone call to now cause us to close all our accounts and move our mortgage elsewhere. It was a Great Bank for simple banking needs once its set up and doesn't need altering but as soon as you have a problem, issue or need to change things you will be in trouble. Customer service is non existent. You are better off paying higher rates and fees elsewhere as long as you can get customer service. Do not use Macquarie bank ever.

if you have an old phone, before OS16 the Macquarie Authenticator app wont work, you cannot open your bank account, to delete this two stage access. complained to Macquarie and was hand balled by three Macquarie staff, "we will call you back later today" But still waiting. .................first complaint was 1st June 2026.....

Here we go again. My Macquarie Bank Authenticator sends a code to my mobile phone which used to work but now when I print the code it says invalid code and I cannot get into my account. I then receive a couple of personal ID questions that have never been registered like what is my oldest siblings middle name. Of course it doesn’t matter what I… Read more

answer because it’s wrong. Why ask it? This is ridiculous. I work in a call centre so the 9am to 5pm Macquarie business hours are very difficult for me to contact this organisation. Wish I never used this online incompetent bank. Every time there’s some kind of I.T. Or security issue it’s extremely difficult to get anywhere. Had enough.

They say their customer service isn't offshore but talking to them they don't know local vernacular and are either bots or clearly off shore and won't redirect you to relevant departments or when they say they'll put your through to their manager nothing happens. Really awful customer service. Show details

Okay, so reviewing this review and moving from 5 stars to 1 star. Like so many complaints against their app, their fraud system is wound up to hyper-vigilant and you quickly get locked out of money you own. You then have to provide an unconscionable amount of private information, that is totally unrelated, to get it unlocked again. This is well… Read more

beyond the scope of AFCA requirements to avoid fraud. They also force the use of 2 different apps instead of using Standards for MFA (Standards are "standards" for a reason). Macquarie need to review their security versus usability because the later is at zero!! Lost yet another customer as a result. Have no idea how Google (and related sites) can possibly think Macquarie is the best bank in Australia. Ridiculous.

I recently settled a mortgage in late 2025, well 2 of them via a broker. Their settlement team said they required building insurance. I had provided landlord insurance which is not the same thing and I ended up being slugged with major costs thinking I was covered. I filed a complaint which they rejected and said it was ultimately my… Read more

responsibility. I thought their checks were rigorous and would protect me but they only care about themselves and my interest payments I will be moving away my mortgages and never doing business with them ever again. In addition to that the first time I called I spoke to a agent who mistook my frustration as aggression when I pointed out he appeared to not understand the problem and wanted to transfer me to some insurance team that had nothing to do with settlements. I thought Macquarie was better than that but I hope this can help others to be more careful.

Awful bank, the worst we have had mortgages with. I wish I read other reviews, as we had exactly the same experiences. If you apply for a loan with Macquarie, the loan is settled by so-called MSA (Mortgage Settlements Australia) - we have been charged $363 on each loan by MSA which was not explained to us prior (although this fee was listed in the… Read more

Loan Offer from the bank) - this fee payable to MSA is compulsory and it is in addition to other fees and charges bank charges for the loan establishment. Communication of those fees is non existent. We also very upset that we asked multiple times to review our current home loan rate, but every time this has been rejected - in fact you do not have access to a human to ask for interest rate reduction, the bank customer service representative has told us that this can ONLY be done through the online platform. We filled the forms on the platform to ask for review of our rate, and each time we received rejection (through the platform again, with no explanation of this decision by the bank). During 5 years we have been with Macquarie, we had interest rate reduced on our loans by WOW, guess how much for all these years - 0.15%. Do not recommend this bank, there are better rates in other banks