Overview
To support Open Banking, certain actions must be completed for Macquarie Bank before authorisation can be granted, allowing BGL and Skript to receive bank data.
Pre-Consent: What needs to be done before Authorisation?
For business, trust or other organisation type (including SMSFs)
A business/ entity customer (e.g. a company, trust or partnership customer) is an eligible CDR consumer if:
- It’s an account holder for an eligible Macquarie Personal Banking Product or Macquarie Business Banking Product; and
- It has at least one nominated representative for the relevant account - see below
To share consumer data from your company, trust or partnership (Entity) account, you’ll need to first appoint a nominated representative. A nominated representative is a person that is appointed to give, amend and manage authorisations to share consumer data from (and on behalf of) your Entity’s accounts with accredited data recipients.
You can appoint a nominated representative by completing one of the below CDR Nominated Representative Authority Form, based on whether the bank account is associated with Business or Personal Banking:
CDR Nominated Representative Authority Form - Personal Banking Product
CDR Nominated Representative Authority Form - Business Banking Product
The form can also be used to revoke a nominated representative that you’ve appointed in the past.
To appoint or revoke more than one nominated representative, you’ll need to complete a separate form for each nominated representative.
For Individual and sole trader:
A person is an eligible CDR consumer if they:
- are 18 years of age or older; and
- hold an eligible Macquarie Personal Banking Product or Macquarie Business Banking Product that can be accessed via Macquarie Electronic Banking.
For joint account
Joint account holders with two or more individual account holders are eligible to share consumer data if:
- each account holder is 18 years of age or older; and
- an eligible Macquarie Personal Banking Product or Macquarie Business Banking Product is held that can be accessed via Macquarie Electronic Banking.
The default setting for joint accounts (where each joint account holder is an eligible CDR consumer) is that either account holder is eligible to consent to the disclosure of CDR data. This means that any joint account holder can initiate or stop the sharing of CDR data from a joint account without further approval from other account holders.
Account Eligibility
Personal Banking Product:
- Aussie Home Loans branded Home Loan and Offset/ Transaction Account(s)
- Bell Potter Cash Management Service Account
- Macquarie Basic Home Loan (loans with BSB starting with 182)
- Macquarie Black Credit Card
- Macquarie Business Savings Account
- Macquarie Car Loan
- Macquarie Cash Management Account (CMA)
- Macquarie CMA Accelerator
- Macquarie Line of Credit
- Macquarie Offset Home Loan (loans with BSB starting with 182)
- Macquarie Offset Account
- Macquarie Platinum Credit Card
- Macquarie Ratesaver Credit Card
- Macquarie Savings Account
- Macquarie Term Deposit
- Macquarie Transaction Account
Business Banking Product:
- Macquarie Business At Call Investment
- Macquarie Business Term Deposit
- Macquarie Business Cheque
- Macquarie Regulated Trust
- Macquarie Property Versatile
- Macquarie Property Essential
- Macquarie Property Plus
- Macquarie ONE ResiONE/Macquarie Advantage Resi
- Macquarie ONE HomeONE
- Fully Drawn Advance (including Specialist Exertion Loan)
- Macquarie Smart Business Loan
- Macquarie ONE CommOne
- Macquarie ONE ResiBIZ/Macquarie Advantage Business (Resi)
- Macquarie ONE CommBiz
- Macquarie SMSF Property Loan
- Macquarie Revolving Line of Credit
- Macquarie Business Overdraft
For more information, please visit:
Macquarie Open Banking - Personal Banking Product
Macquarie Open Banking - Business Banking Product