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New Macquarie Payment Notifications

If you have a Macquarie Cash Management Account (CMA) you may have recently started to receive texts from Macquarie, confirming payments made from your account by AustAsia.

Macquarie have now introduced these third-party transaction notifications as an added security measure. You will receive a notification when an Adviser, or other third party, processes a transaction on their CMA, unless you Opt-Out. This is new for most clients.

We act and will only ever act with your specific authorisation and/or standing instructions.

What you need to know

  • These notifications are being phased in on CMAs;
  • Clients with the Macquarie Mobile Banking app (mBanking) will receive a push notification to their device with the transaction details;
  • Clients who haven’t downloaded the app will receive an SMS; and
  • Clients can opt out of notifications by changing their notification preferences via the app or via the Client Portal – more details below.

How do I Opt Out of these notifications?

Option 1: Via mBanking App

If you don’t want to be notified of Adviser/ third party initiated transactions, you can opt out of receiving these by following these steps:

  1. Log into the mBanking App (can be downloaded from the App Store or Google Play);
  2. Click the ‘My Profile’ icon (this appears on the bottom right of the screen in mobile devices);
  3. Click ‘Settings’;
  4. Click the ‘Notification types enabled’ option; then
  5. Toggle off the ‘Third Party Payments’ transaction type.

If you haven’t downloaded mBanking, you’ll receive an SMS notification (ie. text on your phone). If you don’t want to receive an SMS you can download the app, then opt out by following the steps above.

Option 2: Online via Client Portal

If you don’t use the mBanking App, you can use the Client Portal here to opt out by following these steps:

  1. Click on ‘My Profile’ within your name in the top right of the screen;
  2. Click on ‘Notifications’; then
  3. Toggle off the ‘Third Party Payments’ transaction type.

If you have any questions or would like more information, please call the Investments Team on (08) 9227 6300 or email us at investments@austasiagroup.com as we handle Macquarie Account queries, not our Client Services Team.

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Important information and disclaimer

This publication has been prepared by AustAsia Group, including AustAsia Financial Planning Pty Ltd (AFSL 229454).

Any advice in this publication is general only and has not been tailored to your circumstances. Accordingly, reliance should not be placed on the information contained in this document as the basis for making any financial investment, insurance, or other decision. Please seek personal advice before acting on this information.

Information in this publication is accurate as at the date of writing, 20 February 2020. Some of the information has been provided to us by third parties. While it is believed the information is accurate and reliable, the accuracy of that information is not guaranteed in any way.

Opinions constitute our judgement at the time of issue and are subject to change. Neither the Licensee nor any member of AustAsia Group, nor their employees or directors give any warranty of accuracy, nor accept any responsibility, for any errors or omissions in this document.

Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent.

Published Date: Feb 16, 2020 | Last Modified: June 4, 2020