NAB Internet Banking Product Disclosure Statement
including Terms and conditions
Effective 7 November 2005
Product Disclosure Statement
This document forms part of the Product Disclosure Statement (PDS) for NAB Internet Banking, along with the following document:
- A Guide to Fees and Charges - Personal (if you are a Personal Customer); or
- A Guide to Fees and Charges - Business (if you are a Business Customer).
If you have not already received a copy of the applicable document please let NAB know.
This PDS sets out important information about NAB Internet Banking. By using this PDS you will be able to understand:
- significant characteristics and features of NAB Internet Banking;
- the benefits and risks associated with NAB Internet Banking.
Make sure you read this PDS thoroughly before making a decision to acquire NAB Internet Banking.
Any advice in this PDS has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice in this PDS, NAB recommends that you consider whether it is appropriate for your circumstances.
NAB Internet Banking is issued by National Australia Bank Limited ABN 12 004 044 937.
You can contact NAB by visiting nab.com.au or any branch, or calling 13 22 65.
Part A
GENERAL INFORMATION
Features and benefits
NAB Internet Banking is secure, convenient and easy to use.
For most of NAB's accounts1, with a NAB ID or User ID and a password you can:
- generally access your accounts 24 hours a day, 7 days a week,so you can do your banking at a time and place that suits you;
- check account balances and transaction history and NAB Online Trading Share Portfolio Holdings (for those customers whose NAB IDs are registered with NAB Online Trading);
- transfer funds to multiple accounts at NAB or to an account at another Australian Financial Institution (subject to application) at the one time (including to pay your NAB Credit Card account or make additional payments to your National Loan);
- pay your bills via BPAY® and view your bills via BPAY ViewTM
- set up periodic (regular) payments;
- open a Term deposit;
- send messages to the NAB Internet & SMS Banking Support Team.
1 Note that not all products may be linked to NAB Internet Banking, and for some products the range of services available through NAB Internet Banking may be limited. ® and TM registered to BPAY Pty Ltd 69 079 137 518
Risks
It is important to safeguard any secret information, equipment and software (including any NAB ID, User ID, password or security device) required for your operation of NAB Internet Banking. If you do not, then you may be liable for unauthorised transactions and other amounts as set out below.
You may also have other liabilities, and NAB's liability may be limited, as described below.
There is a risk of unauthorised or mistaken transactions being made through NAB Internet Banking, or transactions which are deemed to be authorised by the use of your password or the password of an authorised user. You may also be responsible for any use of an account by an authorised user as if the account had been used by you. In certain circumstances, NAB's liability in respect of transactions is limited (including for those that are unauthorised or mistaken).
NAB's liability in respect of NAB Internet Banking may also be limited in some other circumstances, such as where a password is misused, where a breakdown or interruption to NAB Internet Banking occurs which is beyond NAB's control, where you or (if relevant) the authorised user should have been aware that NAB's equipment or NAB's system was unavailable for use or malfunctioning, or where a personal EFT transaction is not accepted due to the failure of NAB's equipment or NAB's system.
You may be liable for amounts (including losses or damages suffered by NAB) arising in relation to your or an authorised user's use of NAB Internet Banking, including for instructions given by another person with your knowledge or consent, or the knowledge or consent of an authorised user.
NAB need not act or may delay acting on any order made through NAB Internet Banking. There is a risk that NAB may terminate or suspend your use of NAB Internet Banking without notice to you.
For further information on each of these risks see the Terms and Conditions in Part B of this PDS.
Significant taxation implications
You may be liable for government charges and taxes relating to transactions carried out through NAB Internet Banking. See NAB's brochure 'A Guide to Fees and Charges - Personal' or 'A Guide to Fees and Charges - Business' (as applicable), included in this PDS and available from NAB from time to time.
How can I get more information?
You can obtain more information about NAB's:
- Internet Banking
- current interest rates;
- standard fees and charges; or
- banking with NAB;
by visiting nab.com.au or any branch, or calling 13 22 65.
What do I do if I have a problem or dispute relating to my account?
For information about resolving problems or disputes,contact NAB on 1800 152 015 or ask at any branch of NAB.
If you subsequently feel that an issue has not been resolved to your satisfaction, you may be able to raise your concerns with the Banking Ombudsman if you are an individual or small business customer covered by the Banking and Financial Services Ombudsman scheme.
Are commissions payable on these products to staff members of NAB?
Staff members are salaried employees of National Australia Bank Limited and do not receive any proportion of any fees or commissions paid to NAB in connection with the service detailed in this PDS.
Staff members may be entitled to receive additional monetary or non-monetary benefits and/or rewards resulting from participation in programs conducted by NAB. Monetary benefits or rewards may include an annual bonus the level of which may depend on the overall performance of the National group of companies. Non-monetary benefits or rewards for staff members and their partners may include gift vouchers, film tickets, restaurant meals, attendance at an annual conference or other functions.
Whether staff members receive any such benefits and rewards depend on a number of performance related factors including the level of remuneration generated for NAB from sales of products as a consequence of the staff member's advice.
It is not possible to determine at any given time whether a staff member will receive such benefits or rewards or to quantify them. They are generally not directly attributable to any particular product, facility or service that the staff member has given advice on.
Updating information
Information in Part A of this PDS that is not materially adverse information may change from time to time,and may be out of date at the time this PDS is given to you. Information in Part A of this PDS may be updated by making the updated information available through:
- contacting NAB on 13 22 65
- visiting NAB at nab.com.au
- visiting any branch.
You can find out details of changes to Part A of this PDS through any of these channels. A paper copy of any updated information for such changes may be obtained without charge on request.
After the product is issued you will be notified of any material change to, or significant event affecting, the information in this PDS. Changes to terms and conditions will be notified as set out in Part B of this PDS.
Meaning of words
Words defined in Part B of this PDS have the same meaning in Part A.
Part B
TERMS & CONDITIONS
Things you should know
These Terms and Conditions apply to any use by you of NAB 's Internet Banking service.
If you are a user of NAB 's Internet Banking service, these Terms and Conditions will replace any Terms and Conditions currently applicable to your use of the service.
These Terms and Conditions may be:
(a) viewed by visiting NAB 's web site at nab.com.au or
(b) obtained from any NAB branch.
Meaning of words
1) account means an account which NAB has determined is accessible by the service.
accountholder means a person who has an account in their own name or, if in joint names, in respect of which NAB may act on the instructions of any one or more of them.
authorised user means a person who has been authorised under clause 6 to operate an account through the service.
banking business day means any day on which banks in Melbourne or Sydney are able to effect settlement through the Reserve Bank of Australia.
biller see clause 44.1
billing account means the account selected by NAB or a user under these terms and conditions as the account to which:
(a) transfers of an amount made from a NAB credit card account to another financial institution are returned if the transaction cannot be successfully completed for any reason; and
(b) fees relating to the service may be debited unless the description of a fee in NAB's personal banking fees brochure specifies another account to which that particular fee will be debited in which case ' billing account' means that other account.
This account may be known on the service as a ' billing account ', a 'nominated transaction account', or any other term nominated by NAB from time to time through the service or otherwise.
BPAY Pty Ltd ABN 69 079 137 518 of Level 11, 1 York Street, Sydney, NSW 2000. Telephone (02) 8252 0500.
BPAY Payments see clause 44.1.
BPAY View see clause 44.11
business EFT transaction means the part of an electronic funds transfer of value to or from an account that is designed by NAB primarily for use by a business and established
by you primarily for business purposes.
Cardlink Services Limited ABN 60 003 311 644 of Corner Park Road and South Parade, Auburn, New South Wales, Australia- Telephone (02) 9646 9222.
cut-off time in respect of a banking business day means, for the purposes of payments or any other purpose under this agreement, the time by which the instruction relating to that purpose must be completed, which times are determined by NAB from time to time and are detailed in the FAQs at nab.com.au Different times of the day may be specified for different purposes.
electronic equipment includes electronic terminals,computers, televisions and telephones.
Electronic Transactions Act means the Electronic Transactions Act 1999 (Cth) and each analogous State and Territory enactment.
EFT Code means the Electronic Funds Transfer Code of Conduct.
FAQs means the list of Frequently Asked Questions set out in nab.com.au
multipayments means payments made simultaneously to more than one payee by a user using the service.
NAB means National Australia Bank Limited (ABN 12 004 044 937) and includes its successors and assigns.
NAB ID means a 'NAB Identification Number' issued by NAB .
person includes an individual, a firm, a body corporate, an unincorporated association or an authority.
personal EFT transaction means an electronic funds transfer to or from accounts using the service other than a business EFT transaction.
security device means a service access device issued by NAB designed to securely identify a user and may include a digital certificate which is a set of information which identifies NAB as the issuer of the information, identifies a user, contains the user's public key and is digitally signed by NAB and is also taken to include a user's private key.
service means the service NAB makes available through the Internet to enable the electronic receipt and transmission of information (including electronic funds transfers in relation to an account).
unauthorised transaction means a transaction not authorised by the user. It does not include transactions carried out by the user or by anyone performing a transaction with the user's knowledge and consent.
user means you or an authorised user or either of these,as the context requires.
user authentication means the authentication service made available by NAB to a user when using the service to make certain payments
User ID means a 'User Identification Number' issued by the service to an authorised user.
you in clauses 2 and 3 means an accountholder who has received these terms and conditions and otherwise you means an accountholder who has accepted these terms and conditions and your has a corresponding meaning.
Offer
2) NAB offers to make the service available to you on these terms and conditions.
clauses 27 and 38 will apply to you from 1 April 2002 only if you are engaged in personal EFT transactions and will prevail over any other provisions in this document to the extent of any inconsistency or conflict.
3) You will be taken to have accepted these terms and conditions when:
(a) a user clicks on the 'ACCEPT' button in the online registration process; or
(b) a user accesses, or seeks to access, through the service, an account held by you.
Account
4) These terms and conditions are in addition to any of NAB's terms and conditions for an account.
5) If there is any inconsistency between these terms and conditions and the terms and conditions applying to an account or to a service provided by NAB, these terms and conditions apply to the extent of that inconsistency.
Authorised user
6) NAB may allow any person over 16 years of age authorised by you to be an authorised user.
An authorised user can only be created in accordance with procedures specified by NAB from time to time. It is your responsibility to ensure that any authorised user is over 16 years of age.
7) An authorised user may use a NAB ID issued to them in their own name, or alternatively they may use any additional NAB ID issued to you.
8) An authorised user who uses a NAB ID issued to them in their own name when accessing your account:
(a) will be registered as a user of the service by NAB in their own name; and
(b) will be able to use the service to access and operate your account in every way available to you, including:
(i) conducting debit or credit transactions on your account;
(ii) accessing financial information about your account;
(iii) creating single or periodical payments, transfers or multipayments;
(iv) authorising multipayments.
9) You and NAB may agree, that an authorised user who uses any NAB ID issued to you:
(a) can use the service to access and operate an account in every way available to you; or
(b) is restricted to accessing and operating the account in specified ways. For example, such an authorised user may be authorised to use the service to perform some of the functions listed in clauses 8(b)(i) to (iv) above, but not others.
10) Subject to clauses 11 and 27, you are liable for any use of an account or the service by an authorised user as if the account or the service had been used by you. This includes, for example, any transaction on, or an instruction given in relation to an account using the service and any acceptance or acknowledgment of these terms and conditions or any change to them. You should ensure that any authorised user has been provided with, and read and understood these terms and conditions before using the service.
11) If you no longer wish any authorised user to be able to access or operate your account using the service you must:
(a) contact NAB Internet Banking Support on 1300 651 656;
(b) attend a NAB branch or outlet to confirm service suspension; or
(c) comply with any other procedures specified by NAB from time to time.
Use of the service
12) Once:
(a) you are taken to have accepted these terms and conditions under clause 3; and
(b) a user has accessed the service by entering a NAB ID and their password, and their User ID (if a User ID has been issued); and
(c) the user has created a different password to be used to access the service in the future; and
(d) NAB has selected a billing account (another billing account may be subsequently selected by a user with NAB's agreement); then
NAB will register the user as a user of the service and may, at its discretion, issue the user with a security device by downloading it to the user's computer or otherwise.
13) You do not need to be a registered user of the service yourself to be bound by these terms and conditions - see clause 3. In that case, NAB will select the billing account before an authorised user uses the service for the purpose of accessing an account(another billing account may be subsequently selected by a user with NAB's agreement).
14) The user may use the service in accordance with these terms and conditions, unless their usage of the service is cancelled or suspended under these terms and conditions.
15) Access to the service, or access to certain functionalities of the service, may only be allowed by NAB:
(a) if the procedures specified by NAB have been complied with; and
(b) if NAB has received in a form, and in the manner satisfactory to it, any document or information, including any document which identifies the user, as NAB reasonably requires.
16) Access to the service:
(a) will be denied to a user if the user enters an incorrect password on three consecutive occasions;
(b) may be denied if any instruction given using the service, including any comment, message, or note provided in connection with any instructions is made in language NAB considers to be inappropriate; and
(c) will be denied if a security device (if any) expires or is otherwise cancelled and a new one is not issued. This is not applicable if NAB has determined a security device is not required to access the service.
Where access is denied,the service cannot accept an instruction for processing using the service. If this occurs then the user should contact NAB Internet Banking Support.
17) Subject to clauses 8 and 9, a user will be able to transfer funds from your accounts to any other accounts accessible by the user using the service, whether the accounts are held with other financial institutions, other third parties or NAB. The amount which is able to be transferred will be subject to a daily limit set by NAB. Users should refer to FAQs at nab.com.au for details of any restrictions. If a user uses a NAB ID issued to you, the user's ability to make such a transfer can be removed if you notify NAB under clause 11 that you want that to happen.
You should be aware that the other financial institutions and third parties may impose their own limits and restrictions on transfers and NAB bears no responsibility for these limits and restrictions.
Functionalities of the service
18) NAB may at any time add to, remove, change or impose restrictions on, the functionalities of the service in any respect including, without limitation:
(a) generally;
(b) in relation to a user or a class of users; or
(c) in relation to an account or a class of accounts.
User Authentication
18A) In the event NAB receives an instruction from a user to make a BPAY Payment or payment to a third party account and that user has user authentication, NAB will require the user provide the identifier generated by NAB in accordance with user authentication. This requirement is in addition to any password or other information a user must give to NAB when providing an instruction using the service.
The user should contact NAB Internet Banking Support in the event NAB does not accept any instruction using the user authentication identifier. Provision of this identifier does not alter your responsibility for the transaction.
Your responsibilities
19) You agree:
(a) to choose a new password whenever you are required to do so by NAB;
(b) that the password you choose to access the service will not be the same as, or similar to, any other personal identification number or password you have for any account you have with, or service provided by,NAB;
(c) that, except when you are creating a user, you will not disclose your password to any other person;
(d) not to record or store your password anywhere but to commit it to memory;
(e) to take reasonable care when accessing the service to ensure that your password is not disclosed to any other person, in particular ensuring that you are not observed while entering your password;
(f) not to provide your security device (if any) to any other person;
(g) not to use your security device (if any) other than in respect of the service and you acknowledge that, if you use your security device for any other purpose, NAB may revoke the security device and cancel the availability of the service to you;
(h) to delete, in accordance with NAB's instructions, your security device from any medium on which it is stored if you no longer intend to use, or NAB no longer requires that you use, your security device with that medium to access the service;
(i) not to import your security device to another computer other than for the purpose of accessing the service from that other computer;
(j) to check your account records carefully and notify NAB immediately of any
apparent discrepancy; and
(k) to take every reasonable precaution to prevent the spread or diffusion of any software contamination including computer viruses and trojans.
Please note in respect of personal EFT transactions, clause 19 sets out guidelines which NAB strongly encourages you to comply with but your actual liability is governed by clause 27. However, clause 19 is binding for all other customers.
20) You must ensure that an authorised user protects, stores and uses their password and security device if any, in the same manner as clause 19 requires you to protect, store and use yours.
21) Subject to clauses 22 and 32, you agree that:
(a) an instruction to NAB by a user using the service constitutes a valid and irrevocable authority to NAB to follow that instruction; and
(b) a payment instruction which is given before the cut-off time for a day will be processed on the same day but if it is given after the cut-off time it may be processed on the next banking business day after the instruction is given.
22) You also agree that an instruction to make a periodic or future dated payment continues until the expiry date authorised by a user, even if the service, or any security device used by a user to authenticate that instruction, has been cancelled.
23) In the case of an instruction to make a periodic or future dated payment, a user may revoke their instruction up until the cut-off time on the day payment is due to be made.
24) You are responsible for all instructions given in relation to your accounts which are authorised by a user's use of their password or security device or undertaken by another person with a user's knowledge or consent.
25) You must notify NAB Internet Banking Support immediately if:
(a) other than when a password is used to create another user, a user's password becomes known to any other person or the user's security device is compromised;
(b) a user's computer which the user uses to access and use the service is lost, stolen or fraudulently accessed;
(c) you become aware of any unauthorised transaction or error on an account using the
service.
In respect of personal EFT transactions only, please also refer to clause 27.5.
26) Subject to clause 27.4 (which applies to personal FT transactions only) it is your responsibility to use other means of effecting transactions and giving and obtaining information if for any reason the service is unavailable for use or malfunctioning.
Liability provisions for all personal EFT transactions
27) This clause sets out important rules which may govern an accountholder's liability for
unauthorised transactions. These liability provisions are set out below and override
clauses 28,29,30 and 31 to the extent of any conflict or inconsistency for all personal EFT
transactions.
27.1) No accountholder liability in some circumstances
The accountholder is not liable for:
(a) losses that are caused by the fraudulent or negligent conduct of NAB's employees or agents or companies involved in networking arrangements or of merchants or of their agents or employees;
(b) losses arising because the User ID, NAB ID, security device and/or password is
forged, faulty, expired, or cancelled;
(c) losses that arise from personal EFT transactions which required the use of the security device and/or password and that occurred before the user received the security device and/or password;
(d) losses that are caused by the same personal EFT transaction being incorrectly debited more than once to the same account;
(e) losses resulting from unauthorised transactions occurring after notification to NAB that the security of the security device and/or password has been breached;
(f) losses resulting from unauthorised transactions where it is clear that the user has not contributed to such losses.
27.2) Accountholder liability for unauthorised transactions
The accountholder is liable for losses resulting from unauthorised transactions as provided below:
(a) Where NAB can prove on the balance of probability that the user contributed to the losses through the user's fraud or contravention of the security requirements in clause 27.3 the accountholder is liable for the actual losses which occur before NAB is notified that the security of the security device and/or password has been breached
However the accountholder is not liable for any of the following amounts:
(i) that portion of the losses incurred on any one day which exceeds the applicable daily transaction limit(s)(if any);
(ii) that portion of the losses incurred in a period which exceeds any other periodic transaction limit(s) applicable to that period
(iii) that portion of the total losses incurred on any account which exceeds the balance of that account (including any prearranged credit);
(iv) all losses incurred on any accounts which the accountholder and NAB had not agreed could be accessed using the security device and/or password.
(b) The accountholder is also liable where NAB can prove on the balance of probability that the user contributed to losses resulting from unauthorised transactions because the user unreasonably delayed notifying NAB after becoming aware that the security of the security device and/or password has been breached.The accountholder will then be liable for the actual losses which occur between the time the user became aware and when NAB was actually notified.
However,the accountholder will not be liable for any of the following amounts:
(i) that portion of the losses incurred on any one day which exceeds the applicable daily transaction limit(s)(if any);
(ii) that portion of the losses incurred in a period which exceeds any other periodic transaction limit(s)applicable to that period;
(iii) that portion of the total losses incurred on any account which exceeds the balance of the account (including any prearranged credit);
(iv) all losses incurred on any accounts which NAB and the accountholder had not agreed could be accessed using the security device and/or password.
(c) Where a security device and/or password was required to perform the unauthorised transactions and neither paragraph (a)nor (b) applies, the accountholder is liable for the least of:
(i) until 1 April 2003,$50 and thereafter $150;
(ii) the balance of those account(s)(including any prearranged credit) from which value was transferred in the unauthorised transactions and which NAB and the accountholder have agreed may be accessed using the security device and/or password; or
(iii) the actual loss at the time NAB is notified (where relevant) that the security of the security device and/or password has been breached (excluding that portion of the losses incurred on any one day which exceeds any applicable daily transaction or other periodic transaction limit(s)).
27.3 User's responsibilities under the EFT Code
(a) Where NAB provides the user with a security device and/or password the user must:
(i) not voluntarily disclose the security device and/or password to anyone including a family member or friend, except when you are creating a user;
(ii) not act with extreme carelessness in failing to protect the security of the security device and/or password; and
(iii) not record the password (without making any reasonable attempt to protect the security of the password record) on the one article or on several articles so that they are liable to loss or theft simultaneously.
(b) Where NAB allows the user to select a password or change the user's password the user must not select:
(i) a numeric code which represents the user's birth date; or
(ii) an alphabetical code which is a recognisable part of the user's name.
Either of these selections may mean you are liable for losses caused by unauthorised transactions caused by a breach of the security of the password.
27.4) Failure of NAB equipment or NAB system
NAB will be liable to users for losses users suffer caused by the failure of NAB's equipment or NAB's system to complete a personal EFT transaction accepted by NAB's system or NAB's equipment in accordance with the user's instructions.
However, where the user should have been aware that NAB's equipment or NAB's system was unavailable for use or malfunctioning NAB's responsibilities will be limited to the correction of any errors in the accountholder's account and the refund of any charges or fees imposed on the accountholder as a result. NAB will also not be liable for any losses caused by the failure of NAB's equipment or NAB's system where NAB's system or NAB's equipment had not accepted the personal EFT transaction.
27.5) Advising NAB
If the user believes the security of the user's password or security device has been breached the user must advise NAB Internet Banking Support as soon as possible. Once NAB has been notified of these matters the accountholder's liability for further personal EFT transactions will be limited. Where telephone facilities for notification are not available during particular periods, any losses occurring during these periods that were due to non-notification are deemed to be the liability of NAB, providing notification is made to NAB within a reasonable time of the facility again becoming available. NAB, will acknowledge the user's report and the user should record or retain this acknowledgment.
27.6) Credit and charge cards
Notwithstanding the rest of clause 27 where the user notifies NAB of an unauthorised transaction on a credit card or charge card account NAB will not hold the accountholder liable for an amount greater than the liability the accountholder would have had if NAB had, at the time the complaint was made, exercised its rights (to the extent relevant) under the rules of the credit card scheme.
Allocation of liabilities for all transactions other than personal EFT transactions
28) You are not liable for any losses:
(a) where it is clear that a user has not contributed to those losses;
(b) that are caused by the fraudulent or negligent conduct of NAB's employees or agents;
(c) resulting from unauthorised transactions occurring after you notify NAB that a user's password has become known to someone else or the user's security device has been compromised.
29) Where it is unclear whether or not a user has contributed to the losses resulting from unauthorised transactions on an account using the service, you are only liable to pay a maximum of $50 until 1 April 2003, and thereafter $150.
30) Where it is clear that a user has contributed to the losses because a user has failed to
comply with clauses 19 or 20 or you unreasonably delay in notifying NAB under clause 25, then you are liable for those losses except for that portion of the losses incurred which exceed the balance of your account(s) (including any prearranged credit facility) or that portion of the losses incurred which exceed the total amount you are able to withdraw from your account(s) on the days the unauthorised use took place.
31) You acknowledge that, subject to your rights implied at law which cannot be excluded, NAB is not liable for any loss or damage caused directly or indirectly to a user by:
(a) any breakdown or interruption in the service due to circumstances beyond NAB's control;
(b) any corruption of data and any breakdown, interruption or errors caused to a user's computer or computing equipment as a result of using the service or as a result of software being downloaded to a user's computer for the purposes of the service;
(c) the failure of the service to perform in whole or in part any function which NAB has specified it will perform;
(d) any delays or errors in the execution of any transaction or instruction in respect of an account because of any breakdown or interruption in the service due to circumstances beyond its control;
(e) party to a payment instruction made by a user not receiving funds because of a problem with the information provided by the user (e.g.a user provides NAB with the wrong account number);
(f) any delays or errors by other parties (e.g.the failure of a financial institution to credit or debit an account in a timely manner); or
(g) any refusal by a party to a payment instruction to accept, or acknowledge receipt of, the funds the subject of that payment instruction.
NAB's responsibilities
32) Subject to clause 27.4 (which applies to personal EFT transactions only)you acknowledge that, subject to your rights implied at law which cannot be excluded, NAB need not act or may delay acting on any instruction given to it by a user through the use of the service, including processing any instruction on the next banking business day after the instruction is given and you acknowledge that NAB is not liable for any loss or damage caused directly or indirectly to a user as a result of NAB's failure to act or delay in acting.
33) You acknowledge that the correctness of information about an account which a user obtains through the service is subject to verification by NAB as part of its normal procedures and reflects the entries that have been posted to the relevant account at the time the information is obtained.
Changes by NAB
34) In addition to the other changes NAB may make to these terms and conditions which are detailed in these terms and conditions, NAB may change any other of these
terms and conditions (including by imposing new fees and charges, changing the amount, type
or method of calculation of fees and charges payable). NAB will make any changes
in accordance with any applicable legislation and industry codes.
35) Important alterations
NAB will give accountholders at least 30 days written notice of:
(a) any change to or imposition of a daily or other periodic transaction limit; or
(b) an increase in the accountholder's liability for losses relating to EFT transactions.
36) Other variations
Unless otherwise specified in these terms and conditions or separately agreed between you and NAB, NAB will give you notice of changes as set out below and you agree to receiving notice in such ways:
- notice of changes to fees and charges (including the introduction or increase of charges relating solely to the use of a User ID, NAB ID, security device or password or the issue of an additional or replacement User ID, NAB ID,security device or password)will be given in writing at least 30 days before the change takes effect;
- notice of changes to government fees and charges will be given by media advertisement, in writing or electronically as soon as practicable after, but no later than 3 months after, the change takes effect; and
- notice of any other changes to these terms and conditions will be given in writing at least 30 days before the change takes effect.
37) However,to the extent permitted by any applicable legislation and industry codes NAB reserves the right not to give advance notice when changes are necessitated by an immediate need to restore or maintain the security of NAB's systems or individual accounts.
38) Number and type of accounts
There is a limit to the number and type of accounts which can be accessed by means of the service. You will be advised of the accounts and transactions you can undertake using the service when you sign up to the service. You may also refer to the FAQs at nab.com.au for further details.
Fees
39) You must pay NAB's standard fees relating to the service, including the use of the service, in accordance with clauses 40 to 42.
40) NAB may debit your billing account with its standard fees relating to the service, including the use of the service, the amount and nature of which are detailed in NAB's brochures:
- A Guide to Fees and Charges - Personal,' or
- A Guide to Fees and Charges - Business.'
as applicable and available from NAB at any time.
41) If there are insufficient funds in your billing account, you authorise NAB to debit relevant fees or charges to the relevant account even if that causes the relevant account to become overdrawn or NAB may require you to pay the fees in any other manner NAB determines.
42) If you close your billing account, NAB will automatically select another account to which fees and charges relating to the service may be debited. If no account satisfactory to NAB exists, NAB may immediately cancel the availability of the service to you until such time that you open an account satisfactory to NAB or NAB may require you to pay the fees in any other manner NAB determines.
Termination
43) You or NAB may end this agreement at any time by giving a notice to the other. If a user does not use the service for 12 months, NAB may end this agreement without notice to you.
General matters
44) BPAY® Scheme
44.1) (a) NAB is a member of the BPAY Scheme. The BPAY Scheme is
an electronic payments scheme through which you or any authorised user with BPAY access can request NAB to make payments to organisations ('billers') who tell you that you can make payments to them through the BPAY Scheme (BPAY Payments).
a scheme through which you can receive or access bills or statements electronically (BPAY View) from participating billers nominated by:
receiving an email sent to you whenever a bill or statement is received by us which directs you to link to the service via nab.com.au; or
accessing the service via nab.com.au.
NAB will tell you if NAB is no longer a member of the BPAY Scheme.
(b) When you or any authorised user tell NAB to make a BPAY Payment, you or they must give NAB the information specified in clause 44.4.NAB will then debit the specified account with the amount of that BPAY Payment.
44.2) How to use the BPAY Scheme
(a) A BPAY Payment can be made from any account provided:
(i) NAB will allow transfers from the account;
(ii) there are sufficient funds or credit available in the account to meet the value of the BPAY Payment; and
(iii) the relevant biller agrees to accept the account.
(b) When a credit card is used to pay a bill through the BPAY Scheme, NAB treats that payment as a credit card purchase transaction.
(c) You acknowledge that the receipt by a biller of any mistaken or erroneous payment does not or will not constitute under any circumstances part or whole satisfaction of any underlying debt owed between you and any authorised user and that biller.
44.3) Valid payment direction
NAB will treat an instruction to make a BPAY Payment as valid if, when the instruction is given to NAB, NAB ID or User ID and password is used correctly.
44.4) Information you must give NAB
To instruct NAB to make a BPAY Payment, you or any authorised user must:
- enter the correct NAB ID or User ID and password;
- enter and select the appropriate biller code;
- select the appropriate 'from' account;
- enter the customer reference number;
- enter the amount to be paid; and
- confirm the details entered (if correct).
You acknowledge that NAB shall not be obliged to effect a BPAY Payment if the NAB is not given all of the above information or if any of the information given to NAB is inaccurate.
44.5) Payments
(a) NAB will not accept an order to stop a BPAY Payment once instructed to make that BPAY Payment.
(b) You and any authorised user should notify NAB immediately if you or they become aware of making a mistake (except for a mistake as to the amount meant to be paid -or those errors see clause 44.5(f)following) when instructing NAB to make a BPAY Payment, or if you or they did not authorise a BPAY Payment that has been made from your account. Clause 44.6 describes when and how NAB will arrange for such a BPAY Payment (other than in relation to a mistake as to the amount you must pay) to be refunded.
(c) Subject to clause 44.8, billers who participate in the BPAY Scheme have agreed that a BPAY Payment you make will be treated as received by the biller to whom it is directed:
(i) on the date that BPAY Payment is made, if NAB is told to make the BPAY Payment before NAB's cut-off time for BPAY Payments on a banking business day; or
(ii) on the next banking business day, if NAB is told to make a BPAY Payment after NAB's cut-off time for BPAY Payments on a banking business day, or on a non-banking business day.
(d) A delay might occur in the processing of a BPAY Payment where:
(i) there is a public or bank holiday on the day after NAB is told to make a BPAY Payment;
(ii) NAB is told to make a BPAY Payment either on a day which is not a banking business day or after NAB's cut-off time for BPAY Payments on a banking business day;
(iii) another financial institution participating in the BPAY Scheme does not comply with its obligations under the BPAY Scheme; or
(iv) a biller fails to comply with its obligations under the BPAY Scheme.
(e) While it is expected that any delay in processing for any reason set out in clause 44.5(d) will not continue for more than one banking business day, any such delay may continue for a longer period.
(f) You and any authorised user must be careful to ensure that NAB is told the correct amount to be paid.If you or any authorised user instruct NAB to make a BPAY Payment and you or they later discover that:
(i) the amount NAB was told to pay was greater than the amount needed to be paid, you must contact the biller to obtain a refund of the excess; or
(ii) the amount NAB is told to pay was less than the amount needed to be paid, you can make another BPAY Payment for the difference between the amount actually paid to a biller and the amount needed to be paid.
44.6) Liability for mistaken payments, unauthorised transactions and fraud
(a) If under this clause you are liable for an unauthorised or fraudulent payment made on or after 1 April 2002 as result of a BPAY billing error and the EFT Code applies, then your liability is limited to the lesser of:
(i) the amount of that unauthorised or fraudulent payment; and
(ii) the limit (if any) of your liability set out in clause 27 of this document.
If (ii) applies, then NAB will be liable to you for the difference between the amount for which you are liable and the amount of the unauthorised or fraudulent payment.
(b) NAB will attempt to make sure that BPAY Payments are processed promptly by the participants in the BPAY Scheme, including those billers to whom BPAY Payments are to be made. You or any authorised user must tell NAB promptly if you or they:
(i) become aware of any delays or mistakes in processing BPAY Payments;
(ii) did not authorise a BPAY Payment that has been made from your account; or
(iii) think that you have been fraudulently induced to make a BPAY Payment. NAB will attempt to rectify any such matters in relation to your BPAY Payments in the way described in this clause. However, except as set out in clauses 44.6, and 27 to 32, NAB will not be liable for any loss or damage (including consequential loss or damage) you or any authorised user suffer as a result of using the BPAY Scheme.
The longer the delay between when you tell NAB of the error and the date of your BPAY Payment, the more difficult it may be to perform the error correction. For example, NAB or your biller may not have sufficient records or information available to NAB to investigate the error. If this is the case, you need to demonstrate that an error has occurred, based on your own records, or liaise directly with the biller to correct the error.
(c) If a BPAY Payment is made to a person or for an amount which is not in accordance with your instructions (if any), and your account was debited for the amount of that payment, NAB will credit that amount to your account. However, if you or any authorised user was responsible for a mistake resulting in that payment and NAB cannot recover within 20 banking business days of NAB attempting to do so the amount of that payment from the person who received it, you must pay NAB that amount.
(d) If a BPAY Payment is made in accordance with a payment direction which appeared to NAB to be from you or on your behalf but for which you did not give authority, NAB will credit your account with the amount of that unauthorised payment. However,you must pay NAB the amount of that unauthorised payment if:
(i) NAB cannot recover within 20 banking business days of NAB attempting to do so that amount from the person who received it; and
(ii) the payment was made as a result of a payment direction which did not comply with NAB's prescribed security procedures for such payment directions.
(e) If a BPAY Payment is induced by the fraud of a person involved in the BPAY Scheme, then that person should refund you the amount of the fraud-induced payment. However, if that person does not refund you the amount of the fraud-induced payment, you must bear the loss (including any consequential loss) unless some other person involved in the BPAY Scheme knew of the fraud or would have detected it with reasonable diligence, in which case that person must refund you the amount of the fraud-induced payment.
(f) If a BPAY Payment you or any authorised user has made falls within the type described in clause 44.6(c) and also clauses 44.6(d) or 44.6(e), then NAB will apply the principles stated in clause 44.6(e).
Except where a BPAY Payment falls within the type referred to in 44.6(c), 44.6(d) and 44.6(e) the BPAY Payments are irrevocable. No refunds will be provided by the BPAY Scheme where you or an authorised user have a dispute with the biller about any goods or services you or the authorised user may have agreed to acquire with the biller. Any dispute must be resolved with the biller.
IMPORTANT
Even where a BPAY Payment has been made using a credit card or a charge card no "chargeback " rights will be available under the BPAY Scheme.
(g) You indemnify NAB against any loss or damage (including any consequential loss or damage) NAB may suffer due to any claim, demand or action of any kind brought against NAB arising directly or indirectly because you or any authorised user:
(i) did not observe any obligations under these terms and conditions; or
(ii) acted negligently or fraudulently in connection with this agreement.
44.7) Suspension
NAB may suspend your right to participate in the BPAY Scheme at any time including your use of BPAY View.
44.8) BPAY Payment cut-off times
There are cut-off times and processing times for biller payments. Please refer to the FAQs section at nab.com.au for further details.
44.9) When a biller cannot process a payment
If NAB is advised that a payment cannot be processed by a biller, NAB will:
(a) advise you of this;
(b) credit your account with the amount of the BPAY Payment; and
(c) take all reasonable steps to assist in making the BPAY Payment as quickly as possible.
Account records
44.10) You should check your account records carefully and promptly report to NAB as soon as you become aware of any BPAY Payments that you think are errors or are BPAY Payments that you did not authorise or you think were made by someone else without your permission.
BPAY View
What you need to do to use BPAY View
44.11 You need to register in order to use BPAY View. Register by logging into the service at nab.com.au and selecting to register for BPAY View.
If you register with BPAY View
44.12 If you register for BPAY View, you agree
(a) to NAB disclosing to billers nominated by you:
(i) such of your personal information (for example your name, email address and the fact you are our customer ) as is necessary to enable the billers to verify that you can receive bills and statements electronically using BPAY View (or telling them if you cease to do so); and
(ii) that an event in clause 44.13 (b),(c), (d), (e) or (f) has occurred;
(b) to NAB or a biller (as appropriate) collecting data about whether you access your emails, our service and any link to a bill or statement;
(c) to receive bills and statements electronically and agree that this satisfies the legal obligations (if any) of a biller to give you bills and statements. For the purposes of clause 44.12 NAB are the agent for each biller nominated by you under (a) above.
You can deregister a biller at anytime and the biller will be removed from your list of billers and you will no longer receive electronic bills from that biller. The de-registration is effective immediately.
Bills-paper and electronic
44.13 You may receive paper bills and statements from a biller instead of electronic bills and statements:
(a) at your request to a biller (a fee may be charged by the applicable biller for supplying the paper bill or statement to you if you ask for this addition to an electronic form);
(b) if you or a biller deregister from BPAY View;
(c) if NAB receive notification that your email mailbox is full, so that you cannot receive any email notification of a bill or statement;
(d) if your email address is incorrect or cannot be found and your email is returned to NAB undelivered;
(e) if NAB are aware that you are unable to access your email or our service or a link to a bill or statement for any reason;
(f) if any function necessary to facilitate BPAY View malfunctions or is not available for an extended period.
NAB accepts no liability to provide you with a paper bill or statement in any of these circumstances unless NAB is the biller.
Notice of bills or statements
44.14 You agree that when using BPAY View:
(a) if you receive an email notifying you that you have a bill or statement, then that bill or statement is received by you:
(i) when you receive confirmation that your server has received the email notification, whether or not you choose to access your email; and
(ii) at the email address nominated by you;
(b) if you receive notification on the service without an email then the bill or statement is received by you:
(i) when a notification is posted on the service, whether or not you choose to access the service; and
(ii) on the service;
(c) bills and statements delivered to you, unless deleted by you, remain accessible through the service for the period determined by the biller up to a maximum of 18 months after which they will be deleted, whether paid or not;
(d) you will contact the biller if you have any queries in relation to bills or statements.
What you must do
44.15 You must
(a) check your emails or the service at least weekly;
(b) tell NAB if your contact details (including email address) change;
(c) tell NAB if you are unable to access your email or the service or a link to a bill or statement for any reason; and
(d) ensure your mailbox can receive notifications (eg it has sufficient storage space available).
Unless expressly provided for in these terms and conditions NAB is not responsible for arranging for or ensuring that any biller you nominate will make bills and statements available to you. If you fail to receive bills and statements from a biller or the bill or statement is not available to be viewed using BPAY View you should contact the applicable biller to obtain a paper bill or statement.
Biller consent
44.16 If you tell NAB that a BPAY Payment made from your account is unauthorised, you must first give NAB your written consent addressed to the biller who received the BPAY Payment, consenting to NAB obtaining from the biller information about your account with that biller or the BPAY Payment, including your customer reference number and such information as NAB reasonably require to investigate the BPAY Payment. If you do not give NAB that consent, the biller may not be permitted under law to disclose to NAB the information NAB needs to investigate or rectify that BPAY Payment.
BPAY View billing errors
44.17 For the purposes of clause 44.17, a BPAY View billing error means any of the following:
(a) if you successfully registered with BPAY View:
failure to give you a bill (other than because you failed to view an available bill);
failure to give you a bill on time (other than because you failed to view an available bill on time);
giving a bill to the wrong person;
giving a bill with incorrect details
(b) if your BPAY View deregistration has failed for any reason:
giving you a bill if you have unsuccessfully attempted to deregister.
44.18 You agree that if a billing error occurs:
(a) you must immediately upon becoming aware of the billing error take all reasonable steps to minimise any loss or damage caused by the billing error, including contacting the applicable biller and obtaining a correct copy of the bill; and
(b) the party who caused the error is responsible for correcting it and paying any charges or interest which would ordinarily be payable to the applicable biller due to any consequential late payment and as a result of the billing error.
44.19 You agree that for the purposes of clauses 44.17, 44.18 and 44.19, you are responsible for a billing error if the billing error occurs as a result of an act or omission by you or the malfunction, failure or incompatibility of computer equipment you are using at any time to participate in BPAY View.
Privacy
44.20 In addition to clause 44.12, if you register to use the BPAY Scheme, you:
(a) agree to NAB disclosing to billers nominated by you and if necessary the entity operating the BPAY Scheme (BPAY Pty Ltd) or any other participant in the BPAY Scheme and any agent appointed by any of them from time to time, including Cardlink Services Limited, that provides the electronic systems needed to implement the BPAY Scheme:
(i) such of your personal information (for example your name, email address and the fact that you are a customer ) as is necessary to facilitate your registration for or use of the BPAY Scheme;
(ii) such of your transactional information as is necessary to process your BPAY Payments and your use of BPAY View. Your BPAY Payments information will be disclosed to BPAY Pty Ltd, through its agent, the billers financial institution and your information necessary to process your use of BPAY View will be disclosed by BPAY Pty Ltd through its agent, to the biller; and
(iii) that an event in clause 4.13 (b), (c), (d), (e) or (f) has occurred.
44.21 You must notify NAB, if any of your personal information changes and you consent to NAB disclosing your updated information to all other participants in the BPAY Scheme referred to in clause 44.20 as necessary.
44.22 You can request access to your information held by NAB , BPAY Pty Ltd or its agent, Cardlink Services Limited at their contact details listed in clause 1.
44.23 If your personal information detailed above is not disclosed to BPAY Pty Ltd or its agent, it will not be possible to process your requested BPAY Payment or use of BPAY View.
45) Notify NAB
If you believe that there has been an error in a transaction, instance of unauthorised transaction, or error in your statement of account, promptly notify NAB. Please refer to the contact details at the front of these Terms and Conditions. All relevant information available to you regarding the complaint is to be disclosed to NAB.
You may be required to report any unauthorised transaction to the police and to provide NAB with a copy of such report. You may also be required to complete a statutory declaration detailing particulars of the disputed transaction.
45.1) Written advice
Should NAB be unable to resolve the matter immediately to your satisfaction, NAB will provide you with a written advice of NAB's procedures by which it will be investigated and handled further. NAB will acknowledge receipt of your claim, and within 21 days of receipt of the complaint NAB will advise you in writing of either:
(a) the outcome of NAB's investigation, detailing the reasons for NAB's decision with reference to the specific terms of the Terms and Conditions where appropriate; or
(b) the need for more time to complete NAB's investigation.
Unless there are exceptional circumstances, of which NAB shall advise you in writing NAB may require up to 45 days from receipt of your complaint to complete NAB's investigations.
45.2) Monthly updates
Where an investigation continues beyond 45 days, NAB shall provide you in writing with:
(a) the reasons for the delay;
(b) monthly updates on the progress of NAB's investigation; and
(c) a date when a decision can be reasonably expected; except where NAB is awaiting a response from you and NAB has advised you of this fact.
45.3) Banking Ombudsman
If, because of a delay in giving a final decision, you have a right to take a matter to the Banking Ombudsman or some other external dispute resolution scheme, NAB will advise you in writing about that right within 5 banking business days of the day on which you acquire it.
45.4) Account adjustments
If NAB concludes,as a result of NAB's investigations,that your account has been incorrectly debited or credited, NAB will promptly adjust your account (including any interest and charges) accordingly and notify you in writing of the amount by which your account has been adjusted as a result.
If NAB concludes from its investigations that your account has not been incorrectly debited or credited, or in the case of unauthorised transactions, that you have contributed to at least part of the loss occasioned by the unauthorised use, NAB will supply you with copies of any document or other evidence on which NAB based its finding and will advise you in writing whether there was any system or equipment malfunction at the time of the transaction.
45.5) Senior management review
If you are not satisfied with NAB's findings you may request, in writing, a review of these findings by NAB's senior management. Please direct such requests in writing to:
National Australia Bank
Head of Customer Resolutions
Reply Paid 2870
Melbourne Vic 8060
Fax:(03)8641 0665
After this further review, should you remain dissatisfied with the findings of the investigation, external avenues of complaint may exist including for example the Consumer Affairs Department, Small Claims Tribunal and, the Banking Ombudsman.
For the purposes of clause 45 references to you include authorised users (where applicable).
46) Code of Banking Practice and EFT Code
46.1) EFT Code
NAB warrants that it will comply with the Electronic Funds Transfer Code of Conduct
for all personal EFT transactions.
46.2) Code of Banking Practice
NAB has adopted the Code of Banking Practice and relevant provisions of the Code apply to the NAB Internet Banking service, if you are an individual or a small business customer (as defined by the Code).
You can obtain from NAB upon request:
(a) information on NAB's current interest rates and standard fees and charges relating to this service if any;
(b) general descriptive information concerning NAB's banking services including:
(i) for accounts with cheque access, general descriptive information about cheques;
(ii) account opening procedures;
(iii) NAB's obligations regarding the confidentiality of your information;
(iv) complaint handling procedures;
(v) bank cheques;
(vi) the advisability of you informing NAB promptly when you are in financial difficulty;
(vii) the advisability of you reading the terms and conditions applying to each banking service NAB provides to you;
(c) general descriptive information about:
(i) the identification requirements of the Anti money laundering and Counter Terrorism Act 2006 [ 46.2) (c) (i) ];
(ii) the options available to you under the tax file number legislation; and
(d) a copy of the Code of Banking Practice.
Notices
47) Notices, certificates,consents,approvals and other communications in connection with this agreement from you must be given using the service unless:
(a) otherwise specified in this agreement; or
(b) NAB otherwise determines.
48) You agree that,subject to clause 50, notices, certificates, consents, approvals and other communications in connection with this agreement from NAB may be given electronically:
(a) by electronic mail to your nominated electronic address; or
(b) by being made available at NAB's website using the service, unless you request otherwise. Unless you so request, NAB may not give you communications in other ways (e.g. in writing).
49) Where communications are made available using the service, NAB will provide you with the ability to readily retrieve the information (e.g. by providing a link to NAB's website).
50) You may request a paper copy of a communication given electronically if you request the paper copy within 6 months of the electronic copy being received or made available.
51) A communication is deemed to be received when the communication enters the recipient's designated information system or is capable of being viewed from a recipient's computer and is effective when received even if no person is aware of its receipt.
52) For the purposes of notices sent by electronic mail and the Electronic Transactions Act, the server on which the mailbox for the designated address resides is to be taken to be the recipient's designated information system.
53) A communication is deemed to be sent from where the sender has their place of business and is deemed to be received where the recipient has their place of business.For the purposes
of this clause:
(a) if the sender or recipient has more than one place of business, the place of business is the sender's or recipient's principal place of business; and
(b) if the sender or recipient does not have a place of business, the place of business is the sender's or recipient's usual place.
Governing law
54) This agreement and the transactions contemplated by this agreement are governed by the law in force in Victoria and each party irrevocably and unconditionally submits to the non- exclusive jurisdiction of those courts.
Accounts with other entities
55) Where an account is maintained with an entity other than NAB, you agree that these terms and conditions including,but not limited to, the terms and conditions with respect to accepting and acting on a user's instruction, the irrevocable nature of such instructions, the allocation of liability (including your indemnity) and the responsibilities of NAB (including any releases provided by you) also apply for the benefit of that other entity.
Preparation of this PDS was completed on 3 October 2005
Download a copy of the NAB Internet Banking Product Disclosure Statement (PDS) including Terms & Conditions.
Note: To download the NAB Internet Banking Product Disclosure Statement (PDS) including Terms and Conditions you will require Acrobat ® Reader.
For more information, visit nab.com.au or call the NAB Internet Banking Support Team on 1300 651 656 or International on +61 3 8641 9886. Hearing impaired people with telephone typewriters can contact us on 13 36 77. The support hours are located on our Contact us page.
©2004 National Australia Bank Limited ABN 12 004 044 937
AFSL 230686 399-576 (02/04)
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