How can my customer request a balance or limit transfer?

To arrange a balance or limit transfer between your customer’s home loan accounts, they’ll need to contact us so they can accept the changes.

Please ask them to get in touch with our team using live chat in Macquarie Online Banking or the Macquarie Mobile Banking app, 9am-5pm (Sydney time) excluding public and bank holidays.

What should my customer know before requesting a balance or limit transfer?

To help prepare them for the change, it’s important to remember:

  • the end balances can’t exceed the facility limit 
  • end limits on (each of their) accounts must be above $20,000 
  • changes to a fixed rate account may incur a break cost 
  • we can only transfer limits between accounts within the same home loan facility 
  • we’re unable to transfer a limit to an interest only loan account without a top-up application being approved for the interest only portion of the facility. Any increase to the interest only limit will require a credit assessment. 

When will their repayments change after the balance or limit transfer?

For home loan accounts with BSB starting 182, when transferring a limit to another loan account, the limit transfers will trigger a payment change and repayments will be adjusted on the next repayment date.

In most instances the change will be effective from the repayment date that follows the next scheduled monthly repayment. 

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    Unless stated otherwise, this information is provided by Macquarie Bank Limited AFSL and Australian Credit Licence 237502 (MBL) and does not take into account your objectives, financial situation or needs. You should consider whether it is appropriate for you. Finance is subject to our credit approval criteria. Terms and conditions apply and may change without notice.

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