What you need to open a Business Savings Account

When you apply for a Business Savings Account , we’ll ask you to provide:

• an Australian residential address
• a mobile phone number
• a valid email address
• your Australian driver licence or passport details.

You need your current email address and an Australian mobile phone number to open and operate this account with us. These details are required to transact online, to keep your account safe and to help you stay informed.

The Business Savings Account has been designed as a digital product for clients to self-serve online. We’ll also communicate with you and provide statements through Macquarie Online and/or via email upon request.

When you apply for a Macquarie Business Savings Account, we’ll attempt to electronically verify your identity in real-time with external sources, using the details on your Australian driver licence or passport.

The ID verification process for a Business Savings Account depends on whether you’ve applied yourself or been invited to join an existing application:

• If you’ve initiated the application for a Business Savings Account yourself, you must pass electronic verification for the application to proceed.
• If you’ve been invited to join an application as an additional applicant and your electronic verification fails, you may continue your application by providing certified identification documents.

Under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) we’re required to verify your identity before providing you with any financial services.  

If you’re using your driver licence as ID, we’ll ask for your licence card number and your driver licence number to support electronic verification checks completed during our application process. Your licence number helps us identify who you are, and the card number verifies that it is the most up to date card.

For New South Wales, Queensland and Victoria Driver Licences, you can find your licence number and card number by using the below images, which indicate where the licence number and card numbers may be. 

To find the driver licence and card number for South Australia, Western Australia, Northern Territory, Tasmania and Australian Capital Terrority, please refer to the Licence Information sheet.

You can apply for a Business Savings Account without photo ID, but we won’t be able to verify your ID electronically. For information on acceptable forms of ID and how to get them certified, visit Verifying your identity via certified documents.