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How do I register for International Transfers?
The ability to perform International Transfers through Internet Banking will become available once you have registered for SMS Security and have the 'Pay Anyone' facility enabled.
Can I make an International Transfer if I am not registered for SMS Security?
No, you cannot. To protect the privacy and security of NAB Internet Banking customers, you must be registered for SMS Security to make an International Transfer.
There are three options for customers to register for SMS Security
- You can register yourself - login in to Internet Banking, select SMS security from the "My Settings" menu. If you have provided a mobile phone number to NAB, you will be registered immediately and a welcome text sent to the registered mobile phone. You will also receive a welcome message via Internet Banking. If you do not have a valid mobile phone number on file, then you will be advised to contact the Internet & SMS Banking Support Team to complete the process.
- The Internet & SMS Banking Support Team can register you immediately on 1300 651 656, or IDD +61 3 8641 9886.
- You can register at any NAB branch.
Find out more about SMS Security and view the Internet Banking demonstration - www.nab.com.au/sms
How do activate the 'Pay Anyone' facility?
To enable 'Pay Anyone' access and register for SMS security please call the Internet & SMS Banking Support Team on 1300 651 656 or visit a NAB branch.
The default 'Pay Anyone' access daily limit is $5000. To apply for a higher limit up to $20,000:
- Obtain an application form from a NAB branch. Locate your nearest NAB branch.
- Complete the application form.
- Visit a NAB branch to be identified.
- Nominate a daily transfer limit. Once your application has been approved, the changes will appear the next time you log into Internet Banking.
What if I am exempt from SMS security?
Customers that are exempt from SMS security will not be able to conduct an International Transfer unless they register for SMS security.
Can I transfer money to a beneficiary in another country even if it is not a bank that is affiliated with NAB?
Yes, as long as you have the correct SWIFT / BIC code or details of the bank you are wishing to transfer to, or the Beneficiary Bank address, the transaction can be made.
Why is my transfer stating 'insufficient funds' when I have the correct amount of money in my account?
An international transfer has an associated fee of $22. You need to have enough money to cover both this fee as well as your transaction amount.
Does the fee change according to how much I am transferring?
No, the fee is a flat fee charged per transaction.
Is there a limit on how many transactions I can make per day?
No, as long as the total of your transactions fall within your daily 'Pay Anyone' limit.
Is the fee included in my 'Pay Anyone' daily limit?
Yes, the amount you are transferring plus the fee will be debited from your account (and your daily limit)
What if I am unsure of what the exchange rate of the currency I am transferring to is?
NAB has a link to an indicative exchange rate tool that will provide you with an indication of your conversion amount. A confirmation with the exact amount of your transaction will be sent via secure message once your transaction is completed.
Which Countries can I send an International Transfer to?
The Countries that you can send an International Transfer to are:
- Austria
- Belgium
- Canada
- Chile
- China
- Croatia
- Czech Republic
- Denmark
- Fiji
- Finland
- France
- Germany
- Greece
- Hong Kong
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- Iceland
- India
- Indonesia
- Ireland
- Italy
- Japan
- Korea
- Luxembourg
- Malaysia
- Netherlands
- New Zealand
- Norway
- Papua New Guinea
- Philippines
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- Poland
- Portugal
- Singapore
- Slovakia
- Slovenia
- Spain
- Sri Lanka
- Sweden
- Switzerland
- Taiwan
- United Kingdom
- United States
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What if the Country I am wishing to make a payment to is not in the list of Beneficiary Countries?
At this stage, you can conduct International Transfers via Internet Banking to selected Countries only. In order to transact to other Countries, you will need to do this via a Branch.
I have received an acknowledgement from NAB which says 'processing'. Does this mean there is a problem with my transaction?
No. If your international payment has been submitted to NAB successfully you will receive a 'processing' acknowledgment. Once your transaction has been processed by NAB and sent to the International Bank, you will receive a secure message to your Internet Banking mailbox with details of your transaction and a status of 'paid', or 'rejected'. You can also view details of your transaction, including the status by selecting the 'International transfer list' menu of the left hand side of the screen and clicking on the transaction you wish to view.
What is the process of disputing an online International Transfer?
To dispute an online International Transfer, you need to send a secure message through Internet Banking with the full details of the disputed transaction. The Internet & SMS Banking Support Team will receive your message and commence the dispute resolution process.
What requirements do I need to complete an International Transfers?
To complete an International Transfer, you must be registered for SMS Security and 'Pay Anyone'.
I am receiving a message stating that my transfer will potentially overdraw my account, why is this?
As the rate NAB provides for an international payment transaction is an indicative rate only, this message may appear if based on the indicative rate your account is likely to overdraw. If you accept this message, when the actual rate is applied your payment may be processed if your account has sufficient funds. If your account does not have sufficient funds, your payment will not be successful.
How long will it be before the beneficiary receives the funds into their bank account?
Transfer of funds is usually received within 72 hours by the beneficiary’s bank. If the overseas bank is not the beneficiary’s, it may take longer to on forward funds to the beneficiary’s bank. There may be other circumstances outside of NABs control which may also cause additional delays.
What should I do if my beneficiary claims that they have not received the transferred funds?
An International Transfer Online will usually reach the beneficiary’s bank account within 72 hours; however there may be other circumstances outside of NABs control which may also cause additional delays. If the beneficiary has not received the International Transfer, you need to send a secure message through Internet Banking with the full details of the disputed transaction. The Internet & SMS Banking Support Team will receive your message and commence the dispute resolution process.
Will Internet Banking save the details of my transfer to use again?
You can choose to save the beneficiary details to use on future International funds transfers. In the acknowledgement screen, press the 'Add to My Beneficiary List' button. Enter a nickname for your beneficiary then press 'Next'. Confirm the details and press 'Save'.
You can also add a beneficiary in the 'International Transfer Beneficiary List' in the 'funds transfer' menu. Next time you perform an International Transfer your beneficiaries will appear in a drop down list in the application.
What is a Bank Identification Code (BIC) Number?
A Bank Identifier Code (BIC) is an international standard for uniquely identifying banks worldwide. It is also known as a SWIFT address. A BIC consists of a combination of letters and numbers, either 8 or 11 characters. It identifies the bank's name, its country and the address of the branch. When entering the beneficiary's bank, if you have been provided with its BIC, please insert it in the 'Beneficiary Bank SWIFT / BIC Code' field. If you do not know the BIC, you need to insert the full name of the beneficiary's bank, its full street address and its country in the relevant fields.
What is an International Bank Account Number (IBAN)?
An International Bank Account Number (IBAN) is a European standard format for customers' account numbers. About 40 countries have adopted the IBAN standard, mainly in Europe. Payments to these countries must include an IBAN in the 'Beneficiary's Account Number or IBAN Number" field. The IBAN is a combination of letters and numbers and the length of the IBAN varies from country to country.
An example of a United Kingdom IBAN follows:
How do I obtain an IBAN?
You should be able to obtain an IBAN from your beneficiary. Their bank can provide them with this upon request.
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