Overview
In business, small efficiencies can add up to make a big difference. Take paying bills for example. If you have to handle high volumes of payments, processing them can cost your business time and money. Which is why at Macquarie, we have developed advanced payment options that can make a big difference to your workload and your profits.
Pay your bills electronically in half the time
Our Batch Payment functionality uses BPAY®, so you can make multiple BPAY payments, from multiple accounts, to participating billers – all from a single file generated through your management software.* It’s easy to set up – and it means you can pay your utilities, suppliers and contractors that much faster.
The tools to make managing daily cash flow much easier
No more faxing transfer requests, travelling to the bank, or couriering disks for payroll runs. Our online banking service means you can do all your regular business banking online. This includes transferring funds electronically to multiple accounts in Australia, making group and recurring payments, and moving money around easily between your accounts. It all adds up to greater flexibility and efficiency for your business.
To find out how we can make a real difference to the future of your business, visit our industry pages or call Macquarie.*
Macquarie Batch Payments
An online system that lets you make multiple BPAY payments from a single file, generated through your management software.
Streamline your bill payments - our batch payment facility is fully automated. The system processes payments to each biller and pays them the next business day. You then automatically receive a receipt for each transaction within your management software.
Reduce the risk of error and fraud - eliminates key stroke error and reduces the risk of internal fraud, to give you extra peace of mind.
We’re right here, whenever you need us - your dedicated Macquarie Relationship Manager will be on hand to help you get going by arranging training and ongoing support.
To find out how we can make a real difference to the future of your business, visit our industry pages or call Macquarie.*
Transactional banking
Transfer funds, pay bills, set up regular payments and much more. All this becomes much easier when you move your transactional banking online, with Macquarie's Active Banking.
There’s no additional software required, and no set up or monthly fee. You simply set up your account access online, and you’re ready to go. You’ll then be able to:
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transfer funds electronically between bank accounts within Australia
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view your balances in real-time, such as your trust and operating accounts, and print off statements up to 10 years back
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pay your bills electronically by BPAY®
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upload payment files, set up multiple payments from multiple accounts, and authorise them in one transaction
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create and view cheque stops
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set up recurring payments such as salaries within a payment template, to save time.
Security built in
Our online banking system is protected by a password calculator which provides an extra level of security when authorising your transactions online. You can also choose from four levels of access which ensures only authorised users are able to move funds out of accounts.
A dedicated team on hand to help
We have a specialist team ready and waiting to help you make the most of Macquarie online banking. Your Relationship Manager will also be happy to deal with any queries.
To find out how we can make a real difference to the future of your business, visit our industry pages or call Macquarie.*
Credit card
Macquarie offers a fully-featured Macquarie Visa Platinum Card with superior customer service and generous rewards.
As a Macquarie Bank Visa Platinum cardholder, you’ll receive:
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1.25 Reward points per dollar spent^. You can redeem your points from our extensive range of hand-selected merchandise, or flights, with no points expiry
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Complimentary access to the Visa Concierge service
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Travel as you wish, with the global acceptance of Visa and range of complimentary insurances including Overseas Travel Insurance∆
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Access to exclusive Founding Member events
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Enjoy the convenience and flexibility of up to four free additional cardholders.
To find out more, contact your Relationship Manager or visit our Macquarie Visa Platinum Card page.
Client view
What do our clients say about Macquarie Batch Payments?
Peter Taylor – Bresic Whitney
"Before we used Macquarie Batch Payments, paying the bills was an absolute ordeal. They would come through at the same time every quarter, in two or three big envelopes and it would be a day and a half of labour on data entry. It was an ugly scenario, the staff dreaded it, and there was no accuracy guaranteed either.
In addition, if you had one issue with one payment, the team would have to send the whole payment back to work out where the issue was. When you’re dealing with eight or nine hundred data entry issues it’s very hard to find and more often than not there is going to be a mistake when you’re doing that many.
Now Macquarie Batch Payments has helped us reduce the amount of time spent processing payments. We were looking at hiring another junior accountant to do the data entry and we don’t have to do that anymore. So it has saved us a junior accountant’s salary, which is about $35,000 per year. It’s a big difference!
My staff love Macquarie Batch Payments as it’s made a considerable change to their working life. Staff are adding more value by doing more productive accounting work. They can take their time doing things that are critical, and ensure things are done right in areas that are much more important than doing basic data entry.
If you want to hire a good junior assistant, you have to pay them a good salary. And it’s such a waste paying them a reasonable salary just to do data entry. It doesn’t make sense.
That’s not a great role, and the monotony leads to errors, which leads to turnover.
Overall, Macquarie Batch Payments has improved the team’s time management, it is a better use of employees, has led to greater job satisfaction for staff and obviously saving money is always good."
Grace Mendicino – Doyle Spillane
"Our main intention in changing banks was to look for a one stop shop that would improve our workflow, could provide payment options to facilitate distribution of funds to our landlords and facilitate the payment of rent to our account by tenants.
We found that Macquarie had all these bases covered and controlled by the one provider rather than having to engage an external third party. There wasn’t anything else in the marketplace that was comparable.
Before we used Macquarie Batch Payments, we had a staff member working on payments at least two days out of an entire week, (so at least 16 hours a week). This role has now been absorbed by another staff member who can now be more involved in the accounts area, and not so much the manual, laborious processing of payments. This provides greater satisfaction as well as easing the workflow for the team.
Once upon a time where the team used to receive the council rates and water rates, they would absolutely die thinking ‘this is going to take eight hours to process!’. And then we had issues if the bank keyed in the wrong lot number and payments went astray. This does not happen any more.
Now the actual facilitation of the payments is much more methodical. The team at Macquarie assisted us in setting up the system, which is really easy to use, and now you pretty much follow your nose. And if the team do make an error, you can cancel one payment without having to reverse a whole batch of them.
Being quite frank about it, for any business that has over 300 properties under management, it would be a no brainer to switch to Macquarie Batch Payments."
Geoff Laing – Raine and Horne Bondi Junction
"I am a great believer in Macquarie Batch Payments. It has saved my team a huge amount of time and reduced costs dramatically.
We have a large rent roll and were constantly using cheques to pay substantial quantities of statutory authority rates. One of the problems we had was that a lot of the authorities were having problems processing them because we would be sending off cheques for 50 properties at a time. And then we’d have to spend time sorting through the cheques, collating them, tearing off all the returnable butts to go with the cheque, and then posting them out. So we had the additional mailing costs as well.
With Macquarie Batch Payments we now have virtually no processing errors. We’re not having issues with councils, water boards and other bodies making payments against the wrong properties or for the wrong items. We’re also saving time by not having to respond to authorities or strata managers who have claims of outstanding payment issues. What we have paid is what it gets credited against.
I think that Macquarie Batch Payments would benefit anybody irrespective of their volume, as it’s still more efficient in terms of your use of time and processing. Our jobs are constantly getting bigger and bigger. We’re doing more and more work for pretty much the same money and our clients’ demands and expectations are increasing. That’s the way it is. So as a business, we have to constantly be looking at how we can do the job more efficiently and quickly and cut out the errors – you’ve got no choice."
Harley Manners – Turner Partners
"Macquarie Batch Payments has sped up our back office processing enormously. We used to pay by cheque, and the cheques would come back at odd times and it would effect reconciliation. The cheques would often be lost. Now we just press one button.
We also used to have one full time trust accountant and a part time trust accountant processing these bills. Now the assistant can focus on other work.
We used to have to copy a lot of these bills. Now we don’t. If we need to check it, everyone has a unique number. If the team makes a mistake with the account code, it even fixes itself! It’s almost foolproof!
Our trust accountant has embraced it, and we have seen the benefits immediately. And Macquarie work closely with our software provider so everything just works. I didn’t realise there was such a close relationship.
I can’t believe people aren’t using it. It’s so much easier. If we could get every tenant on DEFT all of our problems would just go away!"
