Deadline Looms in Macquarie Bank’s Digital-Only Transition

Published on May 2, 2024

Australian Stock Exchange-listed investment bank Macquarie will discontinue over-the-counter cash and cheque services at offices starting in late May. This decision is part of Macquarie’s broader transition to a fully digital banking platform, phasing out cash and cheque services across all banking and wealth management products, including super and pension accounts in 2024. Macquarie first flagged the transition to a digital-only banking platform in September 2023, and the rollout is now underway. “In case you missed it, we’re phasing out our cash and cheque services for all products. To prepare for this change, you’ll need to start transacting digitally—a safe, quick, and more convenient way to bank,” Macquarie Bank states on its website....

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