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

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

For more information on certification requirements, please visit our client identity verification FAQs.

Individual

To apply for a Term Deposit for individuals, you’ll need to have a Macquarie transaction account. For more information on how to apply, see Open a transaction or savings account.

Once you have a transaction account, to open a Term Deposit you just need to provide the following information to us:

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).

Ready to open an account?

You can submit your application online, or via the Macquarie Mobile Banking app.

Joint

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

1. Applicant’s details:
   • Full legal name (including any middle names)
   • Any other names known by
   • Date of birth
   • Mobile number
   • Email address
   • Residential address
   • Occupation
   • Source of wealth
   • Tax File Number (optional)
   • 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 client, we’ll require a certified copy of ID. For more information, refer to our Term Deposit Application Guide.
     
2. Term Deposit details:
   • Deposit amount (minimum $5,000)
   • Investment term
   • Interest frequency
   • Interest payment method.

1. Nominated bank account details to be debited for the deposit:
   • BSB
   • Account Number
   • The linked account name must be in the same name 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.
     
2. 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.

Unregulated trust (e.g. family trust)

To apply for 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 more information on certification requirements, please visit our client identity verification FAQs.

You’ll also need to provide the following information:

Let us know if you’d like to open an individual trustee or a company trustee account.

• 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.
  

• 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.
  

• 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. For more information, refer to our Term Deposit Application Guide.
    
  • 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. For more information, refer to our Term Deposit Application Guide.
      
    • 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. For more information, refer to our Term Deposit Application Guide.
      
    • 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. For more information, refer to our Term Deposit Application Guide.
    • Please see Beneficial ownership requirements for more information.
      
    • Deposit amount (minimum $5,000)
    • Investment term
    • Interest frequency
    • Interest payment method.
      
    • BSB
    • Account Number
    • The linked account name must be in the same name 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.
      
    • 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.

    Self-Managed Super Fund (SMSF)

    To apply for Term Deposit account for a Self-Managed Super Fund (SMSF), you’ll need to provide the following information:

    Let us know if you’d like to open an individual trustee or a company trustee account.

    • 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.
      
    • 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 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. For more information, refer to our Term Deposit Application Guide.
        
      • 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. For more information, refer to our Term Deposit Application Guide.
          
        • 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. For more information, refer to our Term Deposit Application Guide.
          
        • 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. For more information, refer to our Term Deposit Application Guide.
        • Please see Beneficial ownership requirements for more information.
          
        • Deposit amount (minimum $5,000)
        • Investment term
        • Interest frequency
        • Interest payment method.
          
        • BSB
        • Account Number
        • The linked account name must be in the same name 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.
          
        • 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.

        Company or business application

        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)
           • Registed 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 trustee, we’ll require a certified copy of your ID. For more information, refer to our Term Deposit Application Guide.
               
           • 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 trustee, we’ll require a certified copy of your ID. For more information, refer to our Term Deposit Application Guide.

        • Deposit amount (minimum $5,000)
        • Investment term
        • Interest frequency
        • Interest payment method.
          
        • BSB
        • Account Number
        • The linked account name must be in the same name 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.
          
        • 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.

        Sole trader application

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

        1. Applicant details:
        2. Full legal name (including any middle names)
        3. Any other name known by
        4. Date of birth
        5. Mobile number
        6. Email address
        7. Residential address
        8. Occupation
        9. Source of wealth
        10. Tax File Number (TFN)
        11. Details of any foreign tax residency, including a Tax Identification Number (TIN) if applicable
        12. 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. For more information, refer to our Term Deposit Application Guide
        13. Name of business
        14. ABN
        15. Industry and nature of business activity.

        • Deposit amount (minimum $5,000)
        • Investment term
        • Interest frequency
        • Interest payment method.
          
        • BSB
        • Account Number
        • The linked account name must be in the same name 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.
          
        • 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.

        Incorporated association or bodies application

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

        1. Incorporated assosciation or body details:
        2. Full name of incorporated association body and the association type. Please note, we’re unable to accept applications from unincorporated associations or bodies online.
        3. The name of the body responsible for registration
        4. Registration or incorporation number
        5. ABN
        6. 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.
        7. Industry in which the company operates
        8. Source of wealth
        9. Registered office and principal place of business address/es.

        • 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 trustee, we’ll require a certified copy of your ID. For more information, refer to our Term Deposit Application Guide.
          
        • 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 trustee, we’ll require a certified copy of your ID. For more information, refer to our Term Deposit Application Guide.
          
        • 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 trustee, we’ll require a certified copy of your ID. For more information, refer to our Term Deposit Application Guide.
          
        • Deposit amount (minimum $5,000)
        • Investment term
        • Interest frequency
        • Interest payment method.
          
        • BSB
        • Account Number
        • The linked account name must be in the same name 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.
          
        • 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.