Third party authority to access client accounts

As an authorised third party you will have increased access to a client’s account. Your access will depend on your granted level of authority. This is chosen by the account holder when they register you for third party authority. 

There are two levels of third party access, view and transact. 

Enquiry Authority

An individual, company, or financial professional can be appointed. They can request and view basic account information including transaction history. To assign this level of authority the client must complete the third party authority form. Please refer to our Help Centre article Enquiry authority and how it works.
 
Authorised Signatory
 
Only an individual can be appointed. They can request and view basic account information and make transfers. To assign this level of authority the client must complete a third party authority form. 

The third party must also provide identification and an anti-money laundering and counter terrorism funding (AML / CTF) form. 

Permissions

The account holder can revoke your level of authority at any time. If you've lost access to accounts which you had access to before, you may have had your access revoked. Third parties can't revoke the access of other parties.

Your clients may want to provide third party authority to an individual or financial services professional. This can be a way for them to give better oversight to their accountant or partner about their finances. You can download the third party authority form through Adviser Tools. Although your client can select the level of authority provided, to minimise risk the third party will need to provide us with the right documentation. 

Third party authority documents

The third party may need to provide different forms depending on the level of authority your client grants them. 

Enquiry Only

Your client just needs to download and complete the Macquarie Third Party Authority form. 

Authorised Signatory

This authority level is available for individuals. In limited circumstances it's also available for Financial Services Professionals and Companies who are already registered with us as authorised signatories. 

Your client needs to:

• Download and complete:
  • Third party authority - Financial Services Professional or Company - use this form to register a Financial Services Professional or Financial Services Company as a third party authority on your account.
  • Third party authority - Individual - use this form to register another individual as a third party authority on your account.
  • Or the Macquarie Vision Third Party Authority Form
• They may also need to provide Power of Attorney for the third party. 

The third party needs to:

• Complete a Verification of Identity
• Complete anti money laundering and counter terrorism funding (AML / CTF) forms. 

Authorised signatory authority is not available on the Cash Management Accelerator Account. 

If we receive a third party authority form requesting for an individual to be authorised signatory, we will load them to the account with enquiry authority. 

To learn more about the Cash Management Accelerator Account, you can get our Cash product offer documents from the Adviser Tools page.

Registering someone for third party authority gives them significant access to an account only you or your client would view otherwise. You can choose to register an individual (partner), or a financial services professional or administrator. This is done through a form. The third party authority form allows your client to set the level of authority. 

The level of authority you choose will depend on which third party type you appoint. These levels are: 

• Individual
  • Authorised Signatory
  • Enquiry Authority
• Financial Services Professionals
  • Enquiry Authority
  • Government / Tax Payment Authority (Macquarie CMA only)
  • Limited Funds Transfer Authority
  • Limited Third Party Authority (Macquarie CMA only)
• Financial Services Company
  • General Withdrawal Authority (Macquarie CMA only)
  • Government / Tax Payment Authority (Macquarie CMA only)
  • Fee Authority (Macquarie CMA only)
  • Enquiry Authority
  • Limited Funds Transfer Authority
  • Limited Third Party Authority (Macquarie CMA only).

Your client will need to complete the third party authority form. This form will allow your client to: 

• Grant third party authority to
  • An individual
  • A financial services professional or administrator
• Cancel any pre-existing third party authority (optional) 

Authorised signatory authority is not available on the Cash Management Accelerator Account. 

If we receive a third party authority form requesting for an individual to be authorised signatory, we will load them to the account with enquiry authority. 

To learn more about the Cash Management Accelerator Account, you can get our Cash product offer documents from Adviser Tools.

Providing third party authority to a partner

Select this option if you want your partner to only see your account details and transactions. You’ll just need to download and complete the Macquarie third party authority form. 
 
Authorised Signatory

Select the authorised signatory option if you want your partner to have the ability to authorise transactions on your account. Because of the inherent risk associated with granting someone more power of your finances they will need to complete more forms. That way we know who they are, and they prove they understand their responsibilities. 
 
To grant full transact access to your partner you need to: 

• Download and complete the Macquarie third party authority form
• Grant Power of Attorney to your partner to enable them to act on your behalf.

You partner will need to: 

• Complete a Verification of Identity
• Complete anti money launder and counter terrorism funding (AML / CTF) forms.

Power of Attorney
 
Anyone over the age of 18 may appoint an attorney. This process is known as Power of Attorney. It simply grants them the legal authority to look after someone else’s financial affairs. Through a solicitor you can set up one of two types of Power of Attorney: 

• General – Allows the attorney to manage affairs under the client’s instruction and while they are of sound capacity
• Enduring – Allows the attorney to make legal and financial decisions on behalf of the client if the can no longer make decisions on their own. This usually applies to those with temporary or permanent illnesses.

Wrap third party registration

If your client’s chosen third party doesn’t have access to Wrap then they will need to complete a Wrap third party registration form. This is available via the same method as above. Note that this form must be signed by the third party and not your client. 

You can find the appropriate third party forms by following the below steps: 

1. Go to Adviser Tools
2. Search for third party in the search bar.

Third Party Authority form to be appointed on my client’s Cash Management Account?

If you want to be appointed on your client’s Cash Management Account (CMA), Cash Management Accelerator Account (Accelerator) or Term Deposit (TD) accounts with Third Party Authority (TPA), you’ll need to complete the Macquarie Third Party Authority form. You can find this form on Adviser Tools.  

Your Macquarie account details

Please provide your client’s account number and account name in this section. 

Please note: if your client has multiple cash accounts with us, you’ll need to list all applicable account numbers in this section. 

Appointment of an individual

This section is used to appoint additional individuals to a client’s account such as an Authorised Signatory or Power of Attorney. 

• 2A – Please select the level of authority required for the individuals being appointed. If you select Authorised Signatory, please ensure an operating instruction is ticked
• 2B – Please complete the details of the individuals being appointed onto the account. Mobile number and email address are mandatory requirements
• Any individuals being appointed on the account must sign the bottom of Section 2.

Any individuals being appointed who aren’t an existing Macquarie client must complete the Individual FSC form. You can find this form on Adviser Tools.  

Appointment of a Financial Services Professional

This section is used to appoint the applicable Financial Services Professional (for example a financial adviser or accountant) to have access to your client’s account. 

Please ensure the full name and company are completed. Where available please provide the company (dealer) code and representative (adviser) code that is to be appointed on this account. 

If you’re being appointed as the primary financial services professional on the applicable accounts, please ensure Yes is ticked. Please note this will remove any current primary financial services professional from the account. 

Your client can appoint you to have enquiry authority, tax payment authority or limited third party authority.

Appointment of a Financial Services Company

This section is used to appoint a company or other third party firm (eg a financial advisory firm, stockbroking firm, accounting firm or administrator) to have access and/or withdrawal authority to your client’s account. 

Please ensure that the Company Name and Company code (if known) are listed in this section. Please also ensure you tick the levels of authority you require on your client’s accounts. 

Levels of authority: 

• General Withdrawal Authority, Tax Payment Authority and Fee Authority will require your company/business to be registered for Bulk Transacting. If your company is not registered for bulk transacting we can’t appoint this level of authority 

To register for bulk transacting, you’ll need to undergo a successful registration process through a Relationship Manager (RM) or Business Development Manager (BDM)

• Enquiry authority will allow you to view the accounts on Adviser Online
• Limited Funds Transfer Authority is used to transfer funds from a client’s Cash Accelerator Account to the linked Cash Management Account
• Authority Signatory Authority will require your company/business to be registered with a signature listing with Macquarie. Please note, we no longer offer signature listings and only companies/businesses with existing signature listings can be appointed with this level of authority.
• Limited Third Party Authority allows you to open term deposits on your client’s behalf, in the same name as their existing CMA account.

Would you like to cancel a Third Party Authority or Company access?

Please complete this section if your client wants to remove any current TPAs from their account. This section can be used to remove individuals, financial services professional and/or companies. 

Declaration and signature of account holders 

All account holders must sign for personal accounts. 

For company accounts, two directors, a director and a secretary, or a sole director must sign. Please note the directors/secretary who sign must be existing account signatories. 

We may request a copy of identification for signature verification. 

Adviser level access vs Dealer level access (only applicable to the Financial Services Professional or Company TPA form)

If Section 2 of the TPA form is completed, only individuals with online access to that specific adviser code being appointed will be able to view the account in Adviser Online. 

If Section 3 of the TPA form is completed with Enquiry Authority ticked, only individuals with dealer level access will be able to view the account in Adviser Online. 

Please note enquiry authority in Adviser Online will automatically be given where General Withdrawal, Tax and Fee payment authority is selected in Section 3.