Close your Macquarie account

1. Log in to Macquarie Online
2. Hover over your Transaction or Savings account in the account list
3. Select I want to
4. Click Close account
5. If you have accrued any interest or still have a positive balance in your account and this is your last Macquarie bank account, you’ll need to choose an external bank account to transfer this balance to.
6. When you’re ready to close your account, click the blue Close account button on the bottom of the screen
7. You will receive a notification to your bell icon when your account is closed
8. You will receive an email with your closing statement attached within 24 hours of account closure.

Why can’t I close my transaction or savings account?

You might be unable to close your account if:

• You have a negative account balance. In order to close your account, you’ll need to transfer enough funds into your Macquarie Transaction or Savings Account to bring the balance to $0
• Your home loan (BSB starting with 182-182) is direct debiting fees and charges from your Macquarie Transaction Account. In order to close your account, you’ll need to edit your direct debit so that it debits from a different account.

It’s been 24 hours and I haven’t received a notification telling me my account has been closed

• It might take a little longer to close your account if you have uncleared funds in your account because we need to wait for these funds to clear before closing. You will know when your account is closed because you will receive an email with your closing statement up to 72 hours after closing your account online.

Before closing your Business Savings Account

• Make sure your account balance is $0
• Cancel or amend any direct debits or scheduled payments that you’ve set up, including any Payment Agreements that you have in place 
• Ensure you have no pending transactions
• Ensure you have downloaded a copy of any financial statements that you may need as they cannot be accessed digitally upon your account closure.

To close your Business Savings Account online

1. Log in to the Macquarie Mobile Banking app
2. Select Business Savings account in the account list
3. Select I want to
4. Click Close Account
5. If you have accrued any interest or still have a positive balance in your account, you’ll need to choose an existing account to transfer this balance to. If you would like to use an external account to transfer this balance, select Add new and fill in the account details.
6. When you’re ready to close your account, click the Close account button on the bottom of the screen
7. You’ll receive a notification when your account is successfully closed.
8. You’ll also receive an email with your final statement attached within 24 hours of account closure.

Why can’t I close my Macquarie Business Savings Account?

You might be unable to close your account if:

• You have a direct debit for a Macquarie Home Loan or Car Loan
• Your account is on hold
• You have a balance greater than $100,000 which exceeds the daily transaction limit. More information on your daily payment limits.

1. Log in to Macquarie Online
2. Hover over your Offset account in the account list
3. Select I want to
4. Click Close account
5. When you’re ready to close your account, click the blue Close account button on the bottom of the screen
6. You will receive a notification to your bell icon when your account is closed
7. You will receive an email with your closing statement attached within 24 hours of account closure.

Why can’t I close my offset account? 

You might be unable to close your account if:

• You have a negative account balance. In order to close your account, you’ll need to transfer enough funds into your Macquarie offset account to bring the balance to $0
• Your home loan (BSB starting with 182-182) is direct debiting repayments and/or fees and charges from your offset account. In order to close your account, you’ll need to edit your direct debit so that it debits from a different account.
• This is your last offset account attached to your active home loan facility. To close your final offset, you’d need to change to our Basic home loan product. Please call us on 1800 007 722 (+61 2 8550 5666), 9am to 5pm (Sydney time) Monday to Friday to request this.

It’s been 24 hours and I haven’t received a notification telling me my account has been closed

• It might take a little longer to close your account if you have uncleared funds in your account because we need to wait for these funds to clear before closing. You will know when your account is closed because you will receive an email with your closing statement up to 72 hours after clicking ‘Close account’.

• Macquarie Home Loan: 1800 007 722 (+61 2 8550 5666), 9am to 5pm (Sydney time) Monday to Friday.
• Close a split home loan: Please call us directly on 1800 007 722 (+61 2 8550 5666), 9am to 5pm (Sydney time) Monday to Friday.

Before closing a home loan, it's important to remember:

• Closing a fixed rate account will usually incur a break cost
• If you choose to permanently reduce your home loan facility’s limit, you’ll need to complete an application to borrow more funds again
• This is different to discharging your home loan. If you want to discharge your home loan please see Discharging your home loan.
• If you have an offset package, you need to keep at least one variable home loan account open to keep your package
• If there is an offset account linked to the loan split you’re closing, you may have the option to link to another variable loan or close the offset.