We prefer if the Funds we administer set up a Macquarie Cash Management Account (CMA for short). This is a dedicated SMSF bank account. This account will act as a hub or transaction account for your Fund.
The main advantages for an SMSF using the Macquarie CMA account are:
To view the account specifications, click on the button below:
To open up an SMSF bank account, we will send you the procedure to do this when a new fund is set up. To open up a Macquarie bank account at any other time, please contact us.
Accelerator Account allows Trustees to earn more on their cash kept within the CMA due to the Accelerator high interest. You can easily transfer into your Accelerator from any external bank account. However, to be able to open an Accelerator, you have to hold a Cash Management Account with Macquarie. For a further look at how to open and operate an Accelerator see here.
More general info on bank accounts by clicking here.
From 1 March 2023, you would no longer be required to submit paper signed requests for withdrawals under $100,000. This includes requests using the Macquarie Withdrawal Form, Recurring Payment Form, and requests made via email.
Instead, you can now make withdrawals through online and mobile banking platforms. This would be a more secure way to process withdrawals.
To see how to make online withdrawals, please click on the button below:
For more information on bank accounts for an SMSF, please see our page here.