Overview
This section outlines the step-by-step process for opening both a Macquarie Cash Management Account and a Macquarie Accelerator Account. For existing entities, this can be actioned via the Institution Account page, and for newly established entities, this can be actioned via the order's Collaboration page.
- Opening an Institution Account for an existing entity
- Opening an Institution Account for a newly established entity
Opening an Institution Account for an existing entity.
Note: The existing entity (Company, trust, SMSF) must be located within Corporate Messenger, Trust Register, or Super Comply.
- Navigate to Menu > Documents > Institution Accounts.
- From the top right, select "Open Institution Account".
- Enter the name of the entity you wish to open an Institution Account for.
Note: Minimum of 4 character must be keyed. The "Filter entity type" dropdown will allow you to refine the search by entity type. - If there are more than one entity with the same name, select the radio button against the desired entity.
- The Directors/Trustees of the entity will populate automatically under the "Applicant" drop-down. Select the appropriate applicant.
- Update the following fields:
- "Macquarie Cash Management Accelerator Account" checkbox: Untick if not required. For more information see What is the difference between Macquarie Cash Management Account and Accelerator Account?
- Applicant's email
- Applicant's phone number
- Enable data feed to Class: Leave ticked to allow the data to integrate with your connected Class account
- Select "Open Account" from the bottom right.
- Read the Macquarie Group Privacy Policy and agree to consent by selecting the checkbox.
- Select "Confirm"
Note: Upon successful submission, a confirmation message displaying in green in the top right. If there is an error with the application, an error message will display in the top right instead.
Opening an Institution Account for an newly established entity
This will allow for establishing an Institution Account via the collaboration page of the company/trust/SMSF order.
Note: If the entity has already been added to Corporate Messenger/Trust Register/Super Comply, then the Institution Account can be opened via either these instructions or the above instructions.
- Open the document order via Menu > Documents > Completed Documents.
- Under the "Integrations" heading select "Open an Institution Account".
- Select a director/trustee from the "Applicant" drop-down.
- Update the following fields:
- "Macquarie Cash Management Accelerator Account" checkbox: Untick if not required. For more information see What is the difference between Macquarie Cash Management Account and Accelerator Account?
- Applicant's email
- Applicant's phone number
- Enable data feed to Class: Leave ticked to allow the data to integrate with your connected Class account
- Select "Open Account".
- Read the Macquarie Group Privacy Policy and agree to consent by selecting the checkbox.
- Select "Confirm"
Note:
- Upon successful submission, a confirmation message displaying in green in the top right. If there is an error with the application, an error message will display in the top right instead.
- NowInfinity does not provide a bank kit within any of the documents.
If the end-client wishes to set up a bank account outside of NowInfinity, all details required for this can be found within constitutions for companies and schedules for trusts.
Full Disclaimer
Macquarie Cash Account and Accelerator Account Opening Technology Enablement Service
Confirm expression of interest (EOI) to open account
NOTE: Application must be completed within 28 days and we do not recommend depositing funds until bank account details are confirmed.
Macquarie Cash Management Account and Macquarie Cash Management Accelerator Account Opening Fulfilment Service
Please note that the primary applicant will receive the EOI submission email, and all additional investor information will be securely sent to Macquarie Bank.
By proceeding with this EOI submission:
-
In accordance with the Macquarie Group Privacy Policy :
- You agree to share the personal information contained in the above account submission form (for direct applicants); or
- You confirm you are duly authorised to share your client’s personal information in the above account submission form (for financial services professional submitting on a client’s behalf).
- [Class/NowInfinity] may receive a technology enablement service fee from Macquarie Bank for the establishment of a Macquarie Cash Management Account and/or Macquarie Cash Management Accelerator Account via this technology enablement service.
Disclaimer: The Macquarie Cash Management Account and Macquarie Cash Management Accelerator Account are issued by Macquarie Bank Limited (ABN 46 008 583 542, AFSL 237 502). Neither Class Technology Pty Ltd (ABN 46 121 158 503) nor our related entities provide advice or recommendations in relation to these accounts. This information is factual information only and is not intended to be financial product advice, legal advice or tax advice, and should not be relied upon as such. Before making a decision, you and/or your client should review the Macquarie Banking T&Cs, Bank Accounts T&Cs, and any other relevant offer documents available at Macquarie Bank | Bank with Macquarie and consider whether the product is right for you both.
What happens after?
- Macquarie Bank will send an email to the nominated email address with instructions on what is required to open the relevant account(s).
- Once Macquarie Bank has received all necessary documentation and approves the application, the relevant account(s) will be set up.