The Macquarie Cash Management Account is especially designed for the investor in mind. By providing you with fast access to your capital, you can make investment decisions in an instant. This account works for SMSF trustees, online traders and professional investors as a savings hub in between opportunities.
Macquarie Cash Management Account
- Maximum variable rate
- 2.50% p.a.
- Base interest rate
- 2.50% p.a.
Our verdict
Investors can store their excess investment funds in a flexible account.
This account also had online trading integration and is SMSF ready.
Pros
-
$0 monthly account fee.
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Different types of account are available such as Joint, Sole Trader, Deceased Estate and even investment for your child under 18 years of age.
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Available for SMSFs, online traders and investors.
Cons
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Minimum opening deposit $0 required
Details
Key details
| Product Name | Macquarie Cash Management Account |
| Maximum Variable Rate | 2.50% p.a. |
| Standard Variable Rate | 2.50% p.a. |
| Monthly Account Fee | $0 |
| Minimum Opening Deposit | $0 |
| Minimum Age | 18 |
"I applied for the Macquarie Cash Management Account for my SMSF. The process was all online and so easy. I applied on the weekend and my new account was open within 2 business days after submitting the certified paperwork. Simpler than going into a bank and having to do it in person, which some require, and as a bonus, they offer a savings account with the Macquarie Cash Management Accelerator."
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Alison Finder
Editorial Manager, Money
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Jhez Finder
February 12, 2020
Hi Staven,
Thank you for your comment.
The interest on the Cash Management account is calculated using stepped interest rates, which means that you’ll be paid a different interest rate for different portions of your balance. Balances between $0 and $4,999.99 will not earn interest and any balance above $5,000 will earn the interest rate, hence, you’ll earn interest for the first balances of $5,000 +.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
Hope this helps.
Regards,
Jhezelyn
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Clare
December 03, 2017
I have a cash management account. Can I get a debit card to go with it??
Anndy Lou Finder
December 03, 2017
Hi Clare,
Thanks for your question.
The Macquarie Cash Management account does not come with a debit card. However, if you want to withdraw or get money from this account, you have several options available:
1. Transfer money to any Australian bank account
2. Use BPAY to make payments
3. Set-up a one-off or recurring payments.
I hope this helps.
Cheers,
Anndy
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Pauline
September 08, 2016
With a Cash Management Account, are you required to regularly deposit funds? I am considering the Macquarie Bank Cash Management Account.
Clarizza Fernandez Finder
September 09, 2016
Hi Pauline,
Thanks for your question.
There’s no minimum deposit required per month on this account, although it should be noted lack of any transactions for up to 3 years may qualify it as unclaimed money. However your bank should notify you before unclaimed money is handed over to ASIC.
Hope this helps.
Clarizza
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Staven
February 12, 2020
Does interest get paid on the first $5,000 or only on the balance above $5,000?