What you need to open a Term Deposit

At the start of the online application for a Macquarie Term Deposit, you’ll be asked to select the type of Term Deposit you want to open:

• Individual
• Joint account
• Unregulated trust
• Self-managed super fund
• Company or business
• Incorporated association or body.

This article explains what information you’ll need to provide, which depends on the account type.

For more information on how to apply, see Opening a Macquarie Term Deposit.

To apply for an individual or joint term deposit, you’ll need to have a Macquarie Transaction or Savings Account in the same name(s). For more information on how to apply, see Opening a Transaction or Savings account.

Once you have a Macquarie Transaction or Savings Account, you’ll need to provide the following information to us to open a term deposit.

1. Term Deposit details:
   • deposit amount (minimum $5,000)
   • investment term
   • interest frequency.

2. Account details:
   • nominate an account to direct debit the term deposit amount
   • Tax File Number (optional).

Note: For a joint term deposit application, once the first applicant has completed the application, the secondary applicant will receive an invitation to review and approve the application. To do this, they’ll need to log into their account via the Macquarie Mobile Banking app or Macquarie Online Banking. Once approved, the funds will be debited and both applicants will be notified when the joint term deposit is set up. It generally takes one business day for the new account to be set up and the funds to be visible.

Ready to open an account?

You can submit your application by logging into Macquarie Online Banking or the Macquarie Mobile Banking app.

To apply for a Term Deposit account for an unregulated trust, you’ll need to provide the following documents:

• A certified copy of the Trust Deed, or a signed letter on letterhead dated within the last 12 months from a solicitor or qualified accountant for all trust applications that confirms the name of the Trust, Trustee(s), Settlor, Beneficiaries or Class(es) of beneficiaries and Appointors/protectors (if any).
• For a unit trust, a certified copy of the unit registry.
• For certification requirements, see Verifying your identity via certified documents.

You’ll also need to provide the following information:

1. Let us know if you’d like to open an individual trustee or a company trustee account.
   
   
2. Trust details, including:
   • Name of the trust
   • Full name of business (if any)
   • Australian Business Number (ABN) and Tax File Number (TFN), or a reason for exemption
   • Details of any foreign tax residency. Please note, we’re unable to accept applications for foreign trusts or entities.
   • Source of wealth
   • The type of trust
   • Trust description
   • The industry in which the trust operates in
   • The nature of the trust activity
   • If the controlling parties are also beneficiaries
   • The category of the trust (Active Non-Financial Entity (NFE), Financial Institution, Australian Registered Charity or Deceased Estate, or other).
      
3. Trust settlor details. If the sum of the trust is more than $10,000 on establishment, please provide the following:
   • Confirmation of the entity that settled the trust, including the name of the individual, company or trust who is the settlor.
   • If the settlor is a company, provide the ACN
   • If the settlor is a trust, provide the ABN of the trust.
      
4. Trustee details, including: 
   • For an individual trustee:
     • Full legal name (including any middle names) 
     • Any other name known by
     • Date of birth 
     • Mobile number
     • Email address 
     • Residential address
     • Occupation 
     • Source of wealth
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the trustee, we’ll require a certified copy of your ID. See Verifying your identity via certified documents for instructions.
        
   • For a company trustee: 
     • The company’s name and ACN
     • Industry in which the company operates
     • Source of wealth
     • Registered office and principal place of business address/es
     • Company officer details, including:
       • Title
       • Full legal name (including any middle names)
       • Any other name known by
       • Date of birth
       • Occupation
       • Mobile number
       • Email address
       • Residential address
       • Source of wealth
       • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the company officer, we’ll require a certified copy of ID. See Verifying your identity via certified documents for instructions.
          
   • Company beneficial owner details, including:
     • Full legal name (including any middle names)
     • Date of birth
     • Occupation
     • Mobile number
     • Email address
     • Residential address
     • Source of wealth
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the beneficial owner, we’ll require a certified copy of ID. See Verifying your identity via certified documents for instructions.
        
5. Trust beneficial owner details, including: 
   • Full legal name (including any middle names)
   • Date of birth 
   • Occupation
   • Mobile number 
   • Email address
   • Residential address 
   • Source of wealth
   • Role in the entity  
   • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the beneficial owner, we will require a certified copy of ID. See Verifying your identity via certified documents for instructions.
      
6. Trust beneficiaries’ details for all the beneficiaries listed in the trust deed, including: 
   • If they’re an individual, entity or class of beneficiaries
   • Name of individual beneficiaries 
   • Description of classes of beneficiaries (e.g. children). 
     
     
7. Term Deposit details: 
   • Deposit amount (minimum $5,000)
   • Investment term 
   • Interest frequency
   • Interest payment method. 
      
8. Nominated bank account details to be debited for the deposit:
   • BSB 
   • Account Number
   • The linked account name must be in the same name and structure as the Term Deposit. If the direct debit fails, we’ll contact you. If we don’t hear back from you within 5 business days, we’ll cancel your application and you’ll need to reapply. 
      
9. Additional details:
   • How the account will mainly be funded 
   • What the account will be mainly used for
   • Mailing address. 

Ready to open an account?

You can submit your application online. 

To apply for a Term Deposit account for a self-managed super fund (SMSF), you’ll need to provide the following information:

1. Let us know if you’d like to open an individual trustee or a company trustee account.
   
   
2. Trust details, including:
   • Name of the trust
   • Full name of business (if any)
   • Australian Business Number (ABN) and Tax File Number (TFN), or a reason for exemption
   • Details of any foreign tax residency. Please note, we’re unable to accept applications for foreign trusts or entities.
   • Source of wealth.
      
3. If you're applying without an adviser, you’ll also need to provide the following:
   • A certified copy of the Trust Deed, or a signed letter on letterhead dated within the last 12 months from a solicitor or qualified accountant for all trust applications that confirms the name of the Trust, Trustee(s), Settlor, Beneficiaries or Class(es) of beneficiaries and Appointors/protectors (if any). See Verifying your identity via certified documents for instructions.
      
4. Trustee details, including: 
   • For an individual trustee:
     • Full legal name (including any middle names) 
     • Any other name known by
     • Date of birth 
     • Mobile number
     • Email address 
     • Residential address
     • Occupation 
     • Source of wealth
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the trustee, we’ll require a certified copy of ID. See Verifying your identity via certified documents for instructions.
        
   • For a company trustee: 
     • The company’s name and ACN
     • Industry in which the company operates
     • Source of wealth
     • Registered office and principal place of business address/es
     • Company officer details, including:
       • Title
       • Full legal name (including any middle names)
       • Any other name known by
       • Date of birth
       • Occupation
       • Mobile number
       • Email address
       • Residential address
       • Source of wealth
       • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the company officer, we’ll require a certified copy of ID. See Verifying your identity via certified documents for instructions.
          
   • Company beneficial owner details, including:
     • Full legal name (including any middle names)
     • Date of birth
     • Occupation
     • Mobile number
     • Email address
     • Residential address
     • Source of wealth
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the beneficial owner, we’ll require a certified copy of ID. See Verifying your identity via certified documents for instructions.
        
5. Trust beneficial owner details, including: 
   • Full legal name (including any middle names)
   • Date of birth 
   • Occupation
   • Mobile number 
   • Email address
   • Residential address 
   • Source of wealth
   • Role in the entity  
   • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the beneficial owner, we will require a certified copy of ID. See Verifying your identity via certified documents for instructions.
      
6. Term Deposit details: 
   • Deposit amount (minimum $5,000)
   • Investment term 
   • Interest frequency
   • Interest payment method. 
      
7. Nominated bank account details to be debited for the deposit:
   • BSB 
   • Account Number
   • The linked account name must be in the same name and structure as the Term Deposit. If the direct debit fails, we’ll contact you. If we don’t hear back from you within 5 business days, we’ll cancel your application and you’ll need to reapply. 
      
8. Additional details:
   • How the account will mainly be funded 
   • What the account will be mainly used for
   • Mailing address. 

Ready to open an account?

You can submit your application online. 

To apply for a company or business Term Deposit, you’ll need to provide the following information:

1. Company applicant details, including:
   • Company name
   • ACN
   • Australian Business Number (ABN) and Tax File Number (TFN), or a reason for exemption
   • Details of any foreign tax residency. Please note, we’re unable to accept applications for foreign trusts or entities
   • Industry in which the company operates
   • Source of wealth
   • The company type (Active non-financial entity (NFE), financial institution, Australian registered charity or other)
   • Registered office and principal place of business address/es:
     • Title
     • Full legal name (including any middle names) 
     • Any other name known by
     • Date of birth 
     • Occupation
     • Mobile number
     • Email address 
     • Residential address
     • Source of wealth
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the individual, we’ll require a certified copy of ID. See Verifying your identity via certified documents for instructions.
        
   • Company beneficial owner details, including:
     • Full legal name (including any middle names) 
     • Date of birth 
       
     • Occupation
     • Mobile number
     • Email address 
     • Residential address
     • Source of wealth
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the individual, we’ll require a certified copy of ID. See Verifying your identity via certified documents for instructions.
       
       
2. Term Deposit details: 
   • Deposit amount (minimum $5,000)
   • Investment term 
   • Interest frequency
   • Interest payment method. 
      
3. Nominated bank account details to be debited for the deposit:
   • BSB 
   • Account Number
   • The linked account name must be in the same name and structure as the Term Deposit. If the direct debit fails, we’ll contact you. If we don’t hear back from you within 5 business days, we’ll cancel your application and you’ll need to reapply. 
      
4. Additional details:
   • How the account will mainly be funded 
   • What the account will be mainly used for
   • Mailing address. 

Ready to open an account?

You can submit your application online. 

To apply for a sole trader Term Deposit, you’ll need to provide the following information to us:

1. Applicant details:
   • Full legal name (including any middle names) 
   • Any other name known by
   • Date of birth 
   • Mobile number
   • Email address 
   • Residential address
   • Occupation
   • Source of wealth
   • Tax File Number (TFN)
   • Details of any foreign tax residency, including a Tax Identification Number (TIN) if applicable
   • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the individual, we’ll require a certified copy of ID. See Verifying your identity via certified documents for instructions.
   • Name of business
   • ABN
   • Industry and nature of business activity.
     
     
2. Term Deposit details: 
   • Deposit amount (minimum $5,000)
   • Investment term 
   • Interest frequency
   • Interest payment method. 
      
3. Nominated bank account details to be debited for the deposit:
   • BSB 
   • Account Number
   • The linked account name must be in the same name and structure as the Term Deposit. If the direct debit fails, we’ll contact you. If we don’t hear back from you within 5 business days, we’ll cancel your application and you’ll need to reapply. 
      
4. Additional details:
   • How the account will mainly be funded 
   • What the account will be mainly used for
   • Mailing address. 

Ready to open an account?

You can submit your application online. 

To apply on behalf of an incorporated association or body, you’ll need to provide the following information:

1. Incorporated association or body details:
   • Full name of incorporated association body and the association type. Please note, we’re unable to accept applications from unincorporated associations or bodies online.
   • The name of the body responsible for registration
   • Registration or incorporation number
   • ABN
   • Details of any foreign tax residency including a Tax Identification Number (TIN) if applicable. Please note, we’re unable to accept applications for foreign incorporated associations or bodies.
     • Industry in which the company operates
     • Source of wealth
     • Registered office and principal place of business address/es.
       
       
   • Nominate two individuals who'll approve this application (these individuals are expected to be members of the management committee). For each individual, provide:
     • Full legal name (including any middle names) 
     • Any other name known by
     • Date of birth 
     • Mobile number
     • Email address 
     • Residential address
     • Occupation
     • Source of wealth
     • Details of any foreign tax residency including a Tax Identification Number (TIN), if applicable
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the individual, we’ll require a certified copy of ID. See Verifying your identity via certified documents for instructions.
        
   • If there are any other association members or office bearers, provide:
     • Full legal name (including any middle names) 
     • Any other name known by
     • Date of birth 
     • Mobile number
     • Email address 
     • Residential address
     • Occupation
     • Source of wealth
     • Details of any foreign tax residency including a Tax Identification Number (TIN), if applicable
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the individual, we’ll require a certified copy of ID. See Verifying your identity via certified documents for instructions.
        
   • If there are any other association members or office bearers, provide:
     • Full legal name (including any middle names) 
     • Date of birth 
       
     • Mobile number
     • Email address 
     • Residential address
     • Occupation
     • Source of wealth
     • Details of any foreign tax residency including a Tax Identification Number (TIN), if applicable
     • Identification information (Australian driver licence or Australian passport). If we can't electronically verify the individual, we’ll require a certified copy of ID. See Verifying your identity via certified documents for instructions.
        
2. Term Deposit details: 
   • Deposit amount (minimum $5,000)
   • Investment term 
   • Interest frequency
   • Interest payment method. 
      
3. Nominated bank account details to be debited for the deposit:
   • BSB 
   • Account Number
   • The linked account name must be in the same name and structure as the Term Deposit. If the direct debit fails, we’ll contact you. If we don’t hear back from you within 5 business days, we’ll cancel your application and you’ll need to reapply. 
      
4. Additional details:
   • How the account will mainly be funded 
   • What the account will be mainly used for
   • Mailing address. 

Ready to open an account?

You can submit your application online.