Is Macquarie Bank safe to save money with.
Welcome to the community @Lorrainek
Australia’s banking industry is regulated.
APRA provides the following list.
When choosing a bank, safe might mean different things depending on what one expects. We made our choice of bank/s on accessibility and the services provided. It’s a long list from APRA. Our choices are on the list.
Hi @Lorrainek, welcome to the community.
Macquarie Bank offers a range of investment options for its customers. Each investment option has different risks and returns based on the product. Some of these will be outlined in Product Disclosure Statement (PDS) associated with the product.
As @mark_m outlined, it offers banking services similar to other Australian banks. It also offers a range of other investment options other than a traditional savings type account.
One can also purchase shares in Macquarie Group which owns Macquarie Bank.
As the community is unavailable to provide financial advice in relation to investment options and their risks/returns, it is suggested that you seek financial advice from an independent financial advisor who can determine your own circumstances.