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Macquarie Bank Online

Macquarie Bank Online

2.0 from 31 reviews · View Statistics

Reviews

2.0

31 reviews
  • Transparency
    2.0 (28)
  • Customer Service
    1.9 (28)
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Jonathon

JonathonSydney, NSW

Terrible Customer Service

published

Getting a simple investment home loan with a LVR of 50% is just a arduous task. Constant emails, signing of forms, re-signing of forms, more emails, cancellations, further emails etc. I simply lost interest.

Transparency
Customer Service
Incentivised ReviewNo
TopicLoan Application and New Account
See all answers

Disgraceful! Blocked my account with zero notice!

published

After seven months, with no prior notice, my savings account was blocked! After not being able to pay my hairdresser, I rang Macquarie and was instructed, due to regulatory changes, to post a certified copy of my signature before my account would be unblocked, taking approximately 4 - 5 business days. In the meantime having no access to my funds and unable to pay my hairdresser I demanded my funds be released and was escalated to another team member. I was kindly informed the only thing I could do was to close my account and transfer the funds to another bank. Thankfully I had an open account with another bank and so with no further advice closed my savings account and transferred the funds into the other bank!

Transparency
Customer Service
Incentivised ReviewNo
TopicGeneral Transactions
See all answers

Possible fraud or scam when you apply for an Account online

published
Transparency
Customer Service
Incentivised ReviewNo
TopicGeneral Transactions and New Account
See all answers
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ManagerMan

ManagerMan

  • 3 reviews
  • 10 likes

Savings Account disappears

published
Transparency
Customer Service
Incentivised ReviewNo
TopicGeneral Transactions
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Danielle

DanielleSydney

  • 3 reviews
  • 3 likes

Terrible

published

Been with them for 4 years. Bad service the whole time. Inaccurate reporting, no follow up after reviews, mistakes in recommendations and names of my investments when it finally did turn up. Terminated my account and was told I would have my money over a week ago and still waiting.

Incentivised ReviewNo
Marty C.

Marty C.South East Queensland, QLD

  • 6 reviews
  • 3 likes

Absolute disgrace.

published

Over 5 years.

Not at all.

Spoke with the finance team, rude, condescending, speaking over the top of customers, an absolute disgrace.

You would think during the pandemic the team would have better training around listing, empathy and coming up with solutions.

Transparency
Customer Service
Incentivised ReviewNo
TopicLoan Application
See all answers
Rusty

RustySydney, NSW

Easy and Quick to Establish

published

I have recently been looking to transfer my savings to a bank that provides a higher interest rate than my current bank. Macquarie offered a competitive interest rate on their hassle free savings account (i.e no minimum monthly deposits & withdrawal limits, etc...) so i decided to apply for an account online.

The process was super quick and took less than 2 minutes to setup, i received my new account details via e-mail and i was then able to log-in via the Macquarie Bank website and iPhone app. I had never been a customer of any of Macquarie Bank products before however i am looking forward to a straightforward digital banking future with them.

Transparency
Customer Service
Incentivised ReviewNo
TopicGeneral Transactions and New Account
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Dylan

Dylan

  • 4 reviews
  • 1 like

Solid app and features

published

Pleasantly surprised by the app. Ability to buy digital gift cards from the app and use in the spot is great. Saving rate is good. But that can change anytime

Transparency
Customer Service
Incentivised ReviewNo
TopicGeneral Transactions and New Account
See all answers
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Anonymous762

Anonymous762Victoria

  • 25 reviews
  • 6 likes

This bank was excellent to me. I loved being their client.

published
Transparency
Customer Service
Incentivised ReviewNo
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Liam J

Liam JSydney Surrounds, NSW

  • 8 reviews
  • 2 likes

Great bank with excellent customer service!

published

This bank is so far the best I've had. The customer service team is helpful and answers the phone straight away. I also like the fee-free ATM usage, with the added protection of the platinum card.

Transparency
Customer Service
Incentivised ReviewNo
TopicATM Experience, General Transactions and New Account
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D van der Mijl

D van der Mijl

  • 2 reviews
  • 2 likes

Terrible - closed my account without communicating it

published

Just an awful experience.

Terrible time logging in, them getting information correct and being hand balled from one customer service rep to another.
Then after complaining they closed down my account for absolutely no reason only citing the following one from their T&C's.

16.3 You acknowledge that we retain the right not to provide products or services to anyone that we decide, in our sole discretion, that we do not wish to provide them to.

Do not bank with these muppets! The are so hard to deal with. Put your money somewhere safer.

Transparency
Customer Service
Incentivised ReviewNo
TopicNew Account
See all answers

Cant open savings account

published

This bank is ridiculously hard to deal with. I simply wanted to open a savings account online, any other bank does this easily, Macquarie wanted extra verification which means getting a certified copy of all of your documents and even then they wanted more. Impossible to ring and sort it out, tried 4 times and wasted 2 hours waiting.

Save your time and effort and just go elsewhere!

Transparency
Customer Service
Incentivised ReviewNo
TopicNew Account
See all answers
Jim

JimPerth

  • 4 reviews
  • 3 likes

It's still early days but I'm very impressed so far...

published

I only joined Macquarie Bank late last month because their introductory rate for savings was the best in Australia (2.65%pa for the first 4 months). I was getting tired of ANZ dropping their rates so I decided to make the switch and haven't looked back since. The online application was smooth and without glitch. The accounts didn't have any hidden strings attached or ridiculous 'account servicing' fees. I don't use phone apps but the online banking has been flawless. Money transfers are also instant in my experience. I have not required customer assistance as of yet but in my experience, the best service is the one that doesn't present problems in the first place!

Transparency
Incentivised ReviewNo
TopicGeneral Transactions
Hunter

HunterSydney, NSW

  • 3 reviews
  • 1 like

Excellent, Professional, Helpful!

published
Incentivised ReviewNo
Scott G.

Scott G.

  • 2 reviews

Best alternative to the big 4 banks

published
Transparency
Customer Service
Incentivised ReviewNo
TopicATM Experience, General Transactions and New Account
See all answers
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Phillipmarc

PhillipmarcGreater Melbourne (Inner), VIC

  • 10 reviews
  • 7 likes

Don't bother! Zero customer service

published

Arranged a home loan with these guys and was sold a banking package for home loan, offset transaction account and credit card. Nice, shiny new app was really impressive and I was going to move my existing accounts to them. ZERO CUSTOMER SERVICE! They do not respond to queries or concerns, fail to act on their word. I will now pay my home loan from my existing account and I am not touching the Macquarie accounts. Useless. Zero stars.

Transparency
Customer Service
Incentivised ReviewNo
TopicCredit Card Application, General Transactions, Loan Application and New Account
See all answers

Terrible experience all round

published

I've been banking with them for four years, as a high income permanent employee. No debts, no defaults, geniune savings.
We got conditional approval, went to auction and bought a house. They then withdrew the approval and we almost risked default. What's worse is that even after years of depositing 100,000s of thousands into my accounts here, they somehow consider me "high risk". So offensive! I'm taking my business elsewhere.

Transparency
Customer Service
Incentivised ReviewNo
TopicGeneral Transactions and Loan Application
See all answers
Wiseguy

WiseguyWestern Australia

  • 5 reviews
  • 1 like

Don’t ever use Macquarie international money transfers

published

I have been at least 10 years with Macquarie Bank. Using it for all our Superannuation banking . In this instance I am referring to International money transfers as directed on the Macquarie Bank website. Do not use them as they direct you to absolutely useless OFX (OzForex) for these transfers and they are unreliable and you will wait forever and hope to God you get your money.

Transparency
Customer Service
Incentivised ReviewNo
TopicGeneral Transactions
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ABC67

ABC67Perth, WA

  • 20 reviews
  • 19 likes

What happened?

published

Have been with Macquarie Bank for a number of years, mainly because of the fees and charges of the 4 main banks and the fact they paid virtually no interest on funds, as well with Macquarie you could transaction seemlessly online. For many year it has been good, but lately(in the last 6 months) there appears a decline in service and unfortunately been letdown by macquarie staff and also fees charged. Overall the experience is still better than the banks, but there has been a noticeable decline, be aware with their CMA there is NO interest paid on accounts up to $5000, only interest paid on balances over $5000, at a current rate of 0.55%, at least, at this time, there are no banking fees!

Transparency
Customer Service
Incentivised ReviewNo
TopicBusiness Banking and General Transactions
See all answers
Rod

RodSouth East Queensland, QLD

  • 2 reviews
  • 2 likes

Macquarie Will not survive with current customer service

published

Macquarie promised a transparent and seamless mortgage application process. What followed was the complete opposite. Terrible service and continual denial of factual information.
Over 2 weeks application was moved through 3 persons all
Claiming expertise.
Was offered conditional approval which was subsequently withdrawn despite providing 40% deposit and stable employment with over a dozen payed out previous mortgages.
Macquarie is a sham and should be reprimanded by the ACCC.
Don’t touch them.!

Transparency
Customer Service
Incentivised ReviewNo
TopicLoan Application
See all answers
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