Macquarie Reviews 

Do not bank or use Macquarie.
The worst bank ive used in 40 years.
I have been trying to reach a "person", not a bot to close a property settlement. I have been given no help whatsoever..just bots,chatbots,one upon another case references.
I will be taking this go the Banking Ombudsman
Just an utter disgrace!!!

Actually 0
Please don’t take the interest advantage they offer
I needed to access my funds for a settlement . You can access 100,000 daily or you need to fill out a withdrawal form which takes 24 hours or if done before 12 midday .
Completed all that and they got straight back to me stipulating my signature was wrong . I then thought the next part would be easy wrong . The 24 hours elapsed then I rang them up one hour later we promise it has escalated and would be dealt with asap. Wrong. I rang them again settlement on a property is occurring at 3.00pm still nothing rang again It has again escalated . Wrong again

In a nutshell they are terrible to deal with. Oh how I wish I was with one of the big four so I could just walk in and sort the problem out.. I missed settlement how embarrassing . Painters cancelled Fees for being late.etc etc . Do not take the risk and deal with these rogues. So pissed off. !

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.

Customer service is terrible. Their systems are even worse. They asked me for documents, i send it, i receive nothing back and then when I contact support they tell me it has been closed and i need to resubmit it again.

Reading other reviewers I'm inclined to agree: extremely poor customer service. Emails received with no name, no number to phone. Like other corporates they are doing all that they can to avoid interacting with customers. Atrocious! Can't use the app has haven't been able to jump through all of their hoops.

Iam tryn to close an account self managed super account i paid alot of money to them and accountants to set it up as idaccumulated lotsa super and lot of it was gettn wittled away by certain enterties in t&c of employment contracts. So it was the only way of making sure it stayed 4 me and ato aproved i was doing fine til as work was very abundant til kevin 07 got in and scared all foriegn envestment i fell on hard times and needed it for my house but wasnt allowed by the second signy and became homless injuring myself and money was drawn from account to tryn to get work as but never happened it ran down to 6 or 700 and stayed in account til now and my mum said might as well get it all out but she died the night id sent it but due my fault as iam got sickness etc from being homless all those years got wrong date on it but was ok other than that date wich was 3months ahead. As id rushed it but could of sighned the mistake but they told me had get death certificate. And they must known its expense and how long that takes. Ive just about in grave car is out of rego and yet wait for death certificate i carnt see y its such an issue i know banks get favours from govn that u me wont get just to keep them from bending rules or coruption but its only 700 dollars i dont y i need a $100 death cert as she signed b4 she died and it was her wish and to give govn all the interest it made is ridiculas i dont like Maquarie as they only done this to be assholes and deserve any and all negativity via this repulsive attitude i even begged them to just close this acount as its just bad memory of my mum and they said will u wait it might take some time to convince the management and i waited on the ph for near 2 hrs on hold thought it was getting some where and no they hung up on me. So i will b ringing .them getn big bro over in sydney his mental go visit. And they derserve everything they get for being ass holes wreaking any chances of fixing my life good ridings to bad rubbish thats australias problem place is full of wankers

I love their savings and transaction account terms and interest, great stuff!

AVOID if you want to USE this money though. I got an invoice that I am needing to pay and they are blocking my withdrawals because I don't use their stupid app. Insanity. You have little control over your money with these losers.

PS: There is zero customer service to help you. Only an AI chatbot that does not work most of the time.

I strongly recommend that prospective customers carefully consider whether they want to bank with Macquarie Bank⁠ before opening an SMSF, Cash Management, or Accelerator account.

Macquarie imposes restrictions on where customers can invest their own money and reserves the right to block transfers to investment platforms it has unilaterally classified as “high risk.” Customers are not given meaningful control over these restrictions, even when they fully understand and accept the risks associated with their investment decisions.

A clear example is CoinSpot, one of Australia’s largest and most widely used cryptocurrency exchanges. CoinSpot⁠ is blocked by Macquarie, preventing customers from transferring funds to the platform. This means that SMSF trustees and investors may be unable to make legitimate investment decisions using their own funds.

When I requested that the restriction be removed, Macquarie refused and stated:

“Our measures are in place to protect customers from potential risks, including those associated with cryptocurrency exchanges. Unfortunately, we are unable to process payments to BSBs that have been assessed as high-risk.”

In other words, Macquarie has decided that it knows better than its customers how they should invest their money and provides no practical mechanism for customers to opt out of these restrictions.

Equally concerning is the quality of customer service. My experience has been that customer support is unhelpful, dismissive, and unwilling to provide solutions. Rather than addressing customer concerns, Macquarie simply repeats its policy and refuses assistance.

If you want full control over your investment decisions, particularly for an SMSF, you should carefully review Macquarie’s restrictions before opening an account. You may find that your ability to invest is significantly more limited than you expected.

Well what a shambles. I transferred 2 amounts of 50k and 10k with no worries and they let those transactions go through but stopped a $44 lunch meal due to suspicious action on my account. When I contacted them they wanted to know what the 10k was spent on after going through that many id checks and nothing else. Dumb.

Helen.
7mo
Last Saturday morning I lost the ability to log in to my MQB account. Everytime during the security log in process I got stuck being told I had two devices and to continue with my other device. Not true, I have only ever had this Samsung Galaxy Note 10 Plus device. This issue was prompted by me foolishly installing Macquarie Authentication app for extra account security which ultimately contributed to this irritating issue of my inability to complete a satisfactory log in.

Since last Saturday I have written four emails to MQB complaints with minimum assistance and certainly no solution.

So I turned to AI, ChatGPT who have dug deeply into my mobile settings uninstalling the Authtication app and Authentication Framework.

It is now Wednesday, I am still unable to log in as I need MQB technical team to cancel my original registration and re register my account which would enable me to log in having access to my funds.

I regret ever transferring from ME Bank to Macquarie Bank due to the very poor service when a major issue occurs.

Macquarie Bank need to lift their service to customers in trouble.

UPDATE

After 6 days with minimum service I phoned Macquarie. I am now able to log in. Also my Debit card is now in Google Pay. Only my phone in made this possible, several emails to complaints at Macquarie were pointless.

It's the 12th May there is not much more I can say about MQB except don't open an account if anything goes wrong no service is offered.

Update 21/05/26

I applied via a MQB withdrawal form to transfer ALL my funds to MEB. Thankfully I'm now free of MQB all their lack of service, their slowness in adhering to my request. It took them a full week to transfer my funds to MEB.

I DO NOT recommend Macquarie Bank.Stay clear if you want to keep your sanity

Macquarie Bank's treatment has been utterly unacceptable. They have withheld my funds without justification and closed my account with no clear explanation. This has caused significant financial disruption, and their customer service has been completely unhelpful in resolving the matter.

Macquarie bank (& its lawyers) treats its customers as fools

1. On 12/1/2026 Macquarie bank locked my internet banking after I tried to transfer money from my account to my account of another bank .

2. Macquarie bank has no physical branch. After locking my internet banking, I can't use my money in the accounts with it.

3. After locking my internet banking, without informing me it did not act on my autopay instructions causing me stress to explain to the payees the reason they could not receive payment.

4. After complaining through several staff of the bank, the complaint manager Cornelia asked me to talk to their fraud team.

5. I did not act on her instructions because there was no fraud in this case and if I did I might be fooled around.

6. After unsuccessful attempts to get my internet banking unlocked, on 16 April 2026 I issued an originating application in the Supreme Court seeking reliefs. I served the documents on Macquarie bank by post. According to the tracking record of the Post Office, the documents were delivered to Macquarie bank in the morning of 17 April 2026.

7. At the hearing on 24 April 2026, Macquarie bank's lawyers from HWLE Lawyers told McLeod J that they got the papers on 23 April 2026.

8. McLeod J ordered:
(i) By 4:00pm on 15 May 2026, the Respondent is to file and serve on the Applicant any affidavit material, any application for strike out and an outline of submissions which the Respondent intends to rely on in relation to the Originating Application filed on 16 April 2026.

(ii) By 4:00pm on 22 May 2026, the Applicant is to file and serve on the Respondent any affidavit material and an outline of submissions which the Applicant intends to rely on in relation to the Originating Application.

(iii) The matter be listed for a directions hearing on Monday 25 May 2026 at 10:00 am for 45 minutes.

(iv) Costs reserved

9. When McLeod J made the order, at my request he asked the lady Counsel acting for the bank whether she could send the documents to me by email as well as by post. The lady Counsel promised to do that

10. On 15 May 2026 (the last day for the bank to act on the order (i) of McLead J's order) the lawyer of HWLE Lawyers sent me an email after 5:00pm informing me that they had taken out an application to strike out my Originating Application.

11. The email sent to me on 15 May 2026 did not contain all the documents filed in Court. Instead of sending the whole affidavits they sent only the front page (covering sheets which show the number of pages of its contents). The whole bundle consists of more than 270 pages.

12. In view of the time of sending the email was after 5:00pm on that day (Friday), HWLE Lawyers might not have sent those documents by post to me on that day. The time for me to respond is by 4:00pm on 22 May 2026.

13. Any reasonable person can see what games HWLE Lawyers are playing. They played their game paying no attention to the order made by McLeod J's order in that they failed to serve the documents on me by 4:00pm on 15 May 2026.

14. I shall continue to post the development of this case.

Terrible experience. Macquarie locked my account when I tried to send $500 to my wife overseas
After 8 days still not letting me access my funds.
Totally unjustified.
They say Security to silence you as if that’s reason to do anything to you that they want
Bad people , bad company , good to avoid.

Have tried to phone my case manager for my late father’s estate but no one has bothered to call me back.
We even travelled into the city branch to try & speak to someone only to find that the office in Adelaide is locked up.
Very frustrating when you’re trying to finalise estate and no one at MacQuarie wants to speak to you.
My advice is don’t go near them.

Nothing specific went wrong but I do find getting to speak to some a human being is a real (but surmountable) challenge. To be fair, this is endemic across Australian business. Useless apps and even more useless Chat functions that mindlessly repeat the same questions and strenuously avoid answering the 'client's' queries. This would not drive me away but the time has come. After decades of using Macquarie Bank for a small commercial business, I note the executives' stellar salaries in today's press and find it simply grotesque. $102,000 for the CEO every working day. Really, how can one accept this as a decent and moral reward for one working person.

Macquarie Bank is the worst bank my family has ever dealt with, no customer service, don't get back to you via email or phone calls, staff have no idea, online only, which make it so hard for verifying identification, we all will use Westpac from now on, the app is much better and easier to then Macquarie Bank, Macquarie Bank is a joke.

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 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

Without doubt the worst bank in 57 years I have had a mortgage with , foreign call centres when you eventually get off their AI answering service .
As allways broken bad English
I have been passed between 5 different “ people “ over a period of 3 days to enquire about a message they sent saying I owed them money which I did not .
3 days has passed and still they are passing me to more “ advisors “ it’s obviously a game they play .
As soon as this dispute is settled I’m dropping Macquarie Bank , without doubt the most average bank in Australia .
Do not trust them with anything ,

Absolute scumbags! Tip toeing around any general enquiries. Only when you drain your accounts will they respond.

Putrid! Report to be submitted to relevant ombudsman.

Macquarie used to be a good bank. Now they have zero customer support. I'm going back to one of the major banks as bad as they are..l