Important disclosure
Transaction Account
special
No foreign exchange fees, no ATM fees anywhere in the world and up to 10% discounts on eGift cards.eGift cards can be used at over 40 leading retailers across Australia.
2024 Award Winner
Account Keeping Fees
$0
Maximum Interest rate
4.75%
RateCity says
“An everyday transaction account offering app banking, no account keeping fees and no overseas ATM withdrawal or currency conversion fees.”
Pros and cons
For Transaction Account
Benefits
- $0 account keeping fee
- App banking available
- 3.1% - 4.75% interest available
- No overseas ATM withdrawal fee charged by Macquarie Bank Limited
- No currency conversion fees for foreign currency transactions
- Send money using PayID
- Winner of Best Bank Account, RateCity Gold Awards 2024
Macquarie Bank Rate Bank account overview
For Transaction Account
Account Details
Minimum opening amount $0 | Min. age restrictions 12 years old |
Minimum balance | Max. age restrictions N/A |
Interest Calculation Frequency Daily | Interest payment frequency Monthly |
Features
Linked Account | Send money using PayID |
Joint application available | Free International Account Transfer |
Foreign Currency | Target Market Determination Visit Macquarie Bank Limited to view Target Market Determination. |
Methods of Access
Internet Banking | ATM access |
Phone Banking | EFTPOS Facility |
Branch Access | Cheque services |
App | App only |
Fee Details
Account Keeping Fees $0 | Min. deposit for fee free N/A |
ATM & EFTPOS Fees
ATM withdrawal fee $0 | Other bank ATM withdrawal fee |
Daily ATM withdrawal limit $2,000 | EFTPOS Fee $0 |
Overseas fees
Overseas ATM withdrawal fee $0 | Overseas eftpos fee $0 |
Foreign transaction fee $0 |
Other transaction fees
Phone transaction fee $0 | Internet transaction fee $0 |
Counter withdrawal fee $0 | Free counter transactions |
Counter deposit fee $0 | Cheque fee |
Cheque dishonour fee |
Electronic Wallet Service
- Other No foreign exchange fees, no ATM fees anywhere in the world and up to 10% discounts on eGift cards.eGift cards can be used at over 40 leading retailers across Australia.
FAQs
How do I transfer money from Paypal to my bank account?
Transferring cash from Paypal into your bank account is simple…if you have a Paypal account that is.
Once you’re logged into your Paypal account, the account balance will appear on your home page. Below your balance are two options:
- Add money
- Withdraw money
Choose option two if you want to transfer money from your Paypal account to your personal bank account.
The next screen will prompt you to either enter new bank account details or choose a bank account that’s connected to Paypal. You can always add more bank accounts to your Paypal profile.
Another way to transfer out of Paypal is by jumping to the wallet tab on the top menu, and clicking ‘transfer money’. Both options will give you the same result.