Open a Transaction or Savings Account

Minors 12 years and older can apply for a Transaction and Savings account in their own name by completing an online application via Macquarie Online Banking or via the Macquarie Mobile Banking app. Before we can open an account, we’ll verify their identity and may ask for some additional information. See what you need to open an account. A parent or guardian cannot open an account on behalf of a minor.

We’ve designed this process to be quick and easy.

Open a Cash Management Account (CMA) on behalf of a minor

There are two ways you can open an account on behalf of a minor.

Open an account under a formal trust arrangement

 
  • Accounts under a formal trust arrangement that are established by a trust deed, can be opened for a minor of any age, up to 18 years old.
  • To open a trust account, the account name must be in the structure of “Trustee/s ATF Trust” and each trustee must accept the terms of the CMA application.
  • To complete an application, our standard account opening requirements will apply, and you’ll need to provide the below documents:
  • A copy of the Trust Deed  
  • All entities (except the minor) must complete individual Anti-Money Laundering/Counter Terrorism Financing forms.
  • To open a testamentary trust account for a minor, refer to the unregulated trust section to find out what information is required. 

Open an account under a Parent or Guardians name

Open a Term Deposit for a minor

Accounts for minors are not offered for Macquarie Term Deposits.

Open a Macquarie Online Trading Account for a minor

Accounts for minors are not offered for Macquarie Online Trading.

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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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Other than MBL, none of the Macquarie Group entities referred to are authorised deposit-taking institutions for the purposes of the Banking Act 1959 (Cth), unless noted otherwise. Their obligations do not represent deposits or other liabilities of MBL. Unless otherwise stated, MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity.

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