With fraud becoming more sophisticated, we’re continuing to invest in the latest technology to provide a safe and secure banking environment for you and your clients.
From 1 March 2023, we stopped accepting paper signed requests for withdrawal amounts under $100,000 for Macquarie Cash, Vision Cash and Investment Wrap accounts. Now, you and your clients can make these withdrawals online.
Our online functionality is a safer, more secure and efficient way for you and your clients to process and receive withdrawals.
If you currently make transactions online, you can continue to make payments via our Adviser Initiated Payment (AIP) functionality on Adviser Online. This change will not impact you.
You can initiate Adviser Initiated Payments (AIP) for up to $500,000 per transaction on Adviser Online. AIP is a service, which allows advisers to make payments on behalf of their clients from their cash account. It is a faster and more secure way to make payments.
If your client has downloaded Macquarie Authenticator, they can authorise AIP via the app. If they haven’t downloaded Macquarie Authenticator, they can authorise payments via SMS verification.
Macquarie Authenticator is our most secure and recommended verification method. It’s a mobile app that sends you actionable push notifications instead of SMS when you’re prompted to verify certain transactions and account changes.
You can’t amend a recurring payment through our AIP functionality on Adviser Online. If you need to change the details of a payment, you’ll need to cancel the payment entirely and create a new one.
Your client will need to authorise the new recurring payment. You can delete a recurring payment on your client’s behalf without an authorisation code, as long as you delete it before the day the payment is due.
There are two features on Adviser Online that make it easier for advisers to maintain and review their client’s payees and biller information.
In Adviser Online, the Payments tab has been added to cash accounts. It allows you and your support staff to add or remove ‘Payees and Billers’ for cash transactions and review upcoming ‘Scheduled Payments’. You can add and delete payees and billers from this screen.
Note: Payees and billers maintained in Adviser Online will be distinct from any payees or billers created by your clients through online banking. Payees and billers in Adviser Online are saved at the account level so you can see any payees and billers associated with the account.
As an anti-fraud measure, an icon will appear next to any payee or biller being transferred to for the first time in Adviser Online, further prompting the Macquarie Authenticator review and approval screens.
Once the payment is initiated, a disclaimer on the ‘Manage Payments’ screen will indicate if the recipient is a new payee.
Following approval, the icon won’t appear in any following payments made to the payee or biller.
We remain committed to ensuring that our digital products and services remain accessible. If your client cannot use online banking for accessibility reasons, please get in touch via live chat on Adviser Online to discuss your options.
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.
