Household deposits in banks fell substantially in June as customers rearranged their tax affairs en masse, continuing a trend that started in 2023

June 2026 APRA data for household deposits contains something of a surprise - they fell.

Actually, it isn't unusual that overall household deposits fall in the June month. Because it is the end of the financial year, many households tap into their cash resources to make tax-effective transactions like paying annual lump-sum expenses, make pre-30 June tax-deductible purchases, contribute extra to superannuation, and donate to charities.

What is actually a surprise is the scale of the decline in June 2026, a drop of -$13.25 bln in one month. That is 11% more than in June 2025.

It hasn't always been like this. The EOFY splurge for tax reasons has only been going on for the past four years. It's a new phenomenon. Here is it tracked for all banks.

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But it affects individual banks differently. In fact, $12.24 bln or 92% of those June 2026 outflows are in just the four big banks. And that is far more than the 72% share of customer deposits that these four hold.

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Even though they had no growth in June, Macquarie gained market share in the month and extending its rise in 2026.

Macbank's continued success, built without the deadweight of either a branch network, or the cloying focus of regulators on the big four, will be risking opening them up also to that same intensified oversight. They have gone from a 4.8% share of deposits at the start of 2025 to a 6.5% share in June 2026. Yes, only half of NAB or ANZ deposit shares, but by any measure that is fast growth, up +$36 bln or more than +50%, from the start of 2025.