Many of our clients currently use Macquarie Cash Management Account as a cash flow hub because it offers essential tools that enable our team to easily administer their cash flow requirements, such as comprehensive online functionality, which integrates with our financial software systems and it also easily provides our Financial Planners with accurate data giving them a clear overall picture to assist you to make informed financial decisions at your reviews.
From 1 January 2018, Macquarie is introducing a new stepped rate calculation which means balances between $0 and $4,999 will not earn any interest and balances above $5,000 will earn 1.30% pa.
The net effect to clients of this change is up to $65 per annum less interest received and while this is not as good as it has been it will still provide you with features, benefits, flexibility and security with nil or minimal fees to give you a total package that is not readily available from other financial institutions. Even with the changes, the Macquarie Cash Management Account will still be a market leading cash management account that we have every confidence in. We will however continue to investigate and test other options and notify you at your reviews if we find a better total package.