Macro-element approach for modelling and seismic analysis of existing masonry structures, where structural system is discretized into deformable horizontal and vertical equivalent frames and rigid nodes, is preferred over micro-modelling approaches due to the complexities of material non-linear characterization and computational effort. Most macro-element modelling approaches make vital assumptions on out-of-plane mechanisms, a recurrent failure mode in existing masonry structures. Idealisations in the modelling of diaphragm action of the horizontal structural system are also rather empirical. In fact, non-linear static analysis (pushover)- based assessment could be an upper bound estimate of the capacity of a structure, if out-of-plane mechanisms are excluded which may be the case of existing historical masonry structures. The current paper examines results of macro-element based modelling and analysis with that from a micro-modelling approach, particularly in terms of the global capacity and damage and collapse mechanisms. The paper concludes with a word of caution on the use of macro-element modelling approaches for seismic assessment of existing masonry structures, particularly where out-of-plane mechanisms can be expected and rigid diaphragm action is not guaranteed. © 2016 Taylor & Francis Group, London.