Please note this article refers to Macquarie term deposits submitted directly through Adviser Online. For information regarding Macquarie Wrap term deposits please refer to our Guide to Wrap term deposits.
Please note this article refers to Macquarie term deposits submitted directly through Adviser Online. For information regarding Macquarie Wrap term deposits please refer to our Guide to Wrap term deposits.
You can open a term deposit for your client through Adviser Online.
To edit the details for an application which the Primary applicant has not yet approved:
After submitting your application, if you’ve selected the online method your clients will receive an email with the relevant offer documents to review the terms and conditions. They’ll need their email address and date of birth, as well as the PIN found in the email.
If you’ve selected the print, sign and email option, once you’ve filled out all the required fields, you can now print the application.
Term deposit account opening is generally completed within 1 day.
Processing times begin only when we’ve received all necessary requirements for a request. To avoid delays, please ensure you’ve completed all forms and uploaded all supporting documents before submitting.
Note: The interest rate applicable on your term deposit is set upon the opening of the account after all account opening conditions have been satisfied.
For further information, please see Requirements to open an account.
Before the maturity date of the term deposit, you can update your client’s maturity instructions via Adviser Online. This will tell us whether your client wants to:
If no maturity instructions are provided by the maturity date, the term deposit funds will be automatically reinvested for the same term.
To provide maturity instructions:
After your client’s term deposit has matured, there will be a grace period of 5 business days or 7 calendar days (whichever is longer) to make certain changes to the term deposit details or close the account and withdraw funds.
Please note, if you or your client has previously provided maturity instructions to close the term deposit, changes cannot be made during the grace period and the term deposit will be closed at maturity.
To submit instructions during the grace period:
Before the term deposit is due to mature, we will provide you and your client with a notice of your upcoming maturity date. This allows time for your client to consider and change their maturity instructions.
To change the nominated bank account linked to your client’s term deposit, please see change your nominated bank account.
If you or your client have provided maturity instructions to close the account and withdraw funds at maturity, all funds and interest accrued will be paid to the nominated bank account upon closure of the term deposit.
If no maturity instructions are received by the maturity date, the term deposit will automatically roll over for the same term. However, there will be a grace period of 5 business days or 7 calendar days (whichever is longer) from that maturity date to close the account and withdraw funds without incurring a break fee.
If your client wants to withdraw funds prior to maturity, you must provide us with at least 31 day’s notice and a break fee may apply. The break fee is an interest adjustment of 25% of the interest earned. If there is less than 31 days remaining of the term, the earliest your client can access their funds is at maturity. You can’t partially withdraw funds before closing a term deposit.
You can request to close your client’s account and withdraw funds prior to maturity via:
Note: Ensure the request is sent from the email address of a registered financial adviser or support staff with full transact authority on the account to avoid processing delays.
We may waive the notice period and/or break fee if your client is experiencing hardship.
Examples of circumstances which constitute hardship:
Examples of circumstances which don’t constitute hardship:
For more information about accessing your funds before maturity, you can get in touch with a Macquarie consultant using live chat in Adviser Online.
If your client is experiencing hardship, learn more about our approach to financial assistance.
All instructions, requests and notices in relation to your client’s term deposit must be lodged before 2:30pm (AEST) to be processed on the same business day. This includes new applications to open a term deposit, maturity instructions (before or during the grace period) and notice to close a term deposit before maturity.
If you’ve requested to close your account and withdraw funds prior to maturity, you can amend or cancel this request up until 2:30pm (AEST) on the business day before the day your funds are due to be disbursed.
Any requests which are unclear, incomplete or require additional information may not be processed on the same day. So please ensure all information is correct and up to date (including the details of your client’s nominated bank account).
Chat in real-time with an adviser consultant Monday to Friday, 8am to 7pm Sydney time (excluding public holidays).
Everyone at Macquarie is commited to providing our clients with the highest standard of products and services available. If you have feedback we would like you to tell us about it.