Effective 26 September 2011
- Part A General information
- Product comparison table
- Part B Terms and Conditions
- Statutory Trust Accounts
- Part C Fee table
- Fee table
Part A General information
This document forms part of the terms and conditions for NAB's Statutory Trust Accounts (Accounts), along with the following documents:
- Business Banking Fees - A Guide to Fees and Charges; and
- 'Indicator Rates for Deposit Products'.
If you have not already received copies of these documents, please contact NAB. It is important that you read and understand these terms and conditions. These are available from NAB at any time.
Any advice in this document has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice in this document, NAB recommends that you consider whether it is appropriate for your circumstances.
There should be no adverse income tax implications as result of holding the Account with NAB. However, you may be liable for government charges and taxes relating to transactions carried out through your Account. See the Section on Government Taxes in NAB's brochure 'Business Banking Fees - A Guide to Fees and Charges'. We recommend that you discuss your specific tax position with your tax adviser.
Each of the Accounts covered by there terms and conditions are issued by National Australia Bank Limited ABN 12 004 044 937.
Product comparison table - features and benefits
A summary of key features and benefits of Statutory Trust Accounts made available by NAB. Additional information about features and benefits is in Part B of these terms and conditions.
Part B Terms and Conditions
NAB Statutory Trust Accounts
1 How will the Account work?
1.1 The Account is only available if you are required by law to maintain one of the trust account types listed in the Product comparison table and must only be used for the purposes outlined in the relevant legislation governing that type of account.
1.2 NAB is entitled to assume, without further inquiry, that the opening of the Account by you is for the sole purpose set out in clause 1.1.
1.3 If requested by NAB you agree to provide NAB with a declaration (in a form provided by NAB) that the Account is used for the sole purpose set out above. If you do not, or cannot, provide NAB with such a declaration then NAB is entitled to close the Account without further notice.
1.4 You agree to maintain a separate business transaction account with NAB to which all fees and charges and default interest relating to an Account may be debited. If you fail to maintain this account and ensure that sufficient clear funds are available to meet the account debits from time to time, NAB may close the relevant Account.
1.5 You may deposit any amount and you may withdraw up to the available credit funds from the Account. Proceeds of any cheque or other item will not be available until the cheque or other item is cleared.
1.6 There is no minimum Account balance which must be maintained.
1.7 You may withdraw from the Account at any of NAB's branches, subject to you providing suitable identification.
1.8 NAB will provide a cheque book to access the Account, unless you advise NAB a cheque book is not required.
1.9 There is no overdraft or other credit facility available with the Account.
2 What Interest will I receive/pay?
2.1 No credit interest is paid to you on the Account. NAB shall pay interest to a government or industry body in accordance with relevant legislation.
2.2 If the Account becomes overdrawn, you must put the Account in credit immediately. You will pay NAB interest on the amount overdrawn at the default rate charged by NAB for Statutory Trust Accounts from time to time. The default rate is set out in NAB's 'Indicator Rates for Deposit Products'. You will be notified of any change to the default rate. The interest is calculated on the daily debit balance of the Account as at the end of each day and will be charged to the account nominated by you under clause 1.6 on the last banking day of each month.
You may also incur an Irregular Account Fee, any applicable Dishonour charges, and a Reference Fee (the amount of which may vary depending on the method used to access your Account), the amount and nature of which are detailed in NAB's brochure 'Business Banking Fees - A Guide to Fees and Charges'.
3 When will I receive statements?
NAB will send you statements of the Account at least six monthly, unless you request otherwise.
4 What Bank fees are applicable to the Account and how are they charged?
The amount and nature of the fees and charges are described in Part C of these terms and conditions and in NAB's brochure 'Business Banking Fees - A Guide to Fees and Charges'.
5 What electronic options are available?
If NAB agrees in relation to your Account and subject to applicable legislation, you may arrange to access the Account through NAB Connect, Telephone Banking, Internet Banking, National Online Business, National Online Corporate or a similar service provided by NAB. Such access will be governed by NAB's standard terms and conditions relating to the service.
6 Statutory Trust Account status and disclosures relating to Accounts
6.1 The Account may only be used for the statutory purpose for which it was created and must not be used for any personal or domestic banking. If you do not have an Australian Business Number then you agree to provide NAB with a declaration (in a form provided by NAB) that the Account is not used for personal or domestic reasons.
6.2 It is acknowledged that NAB may not set-off any money NAB owes you from the Account against money you owe NAB.
6.3 It is acknowledged that NAB may disclose to government, regulatory and industry bodies any information about you and the Account as required or authorised under any laws and/or any arrangements between NAB and those bodies. Information that NAB may disclose includes, for example, information about account status, balances, overdrawings and dishonours. To the extent that NAB is not already legally permitted to make such disclosures, you consent to NAB doing so. This consent is in addition to and is not affected by any other consent you may give or have already given NAB.
7 Code of Banking Practice
7.1 NAB has adopted the Code of Banking Practice and relevant provisions of the Code apply to each Account if you are an individual or a small business customer (as defined by the Code).
7.2 You can obtain from NAB upon request:
- information on NAB's current interest rates and standard fees and charges relating to an Account, if any;
- general descriptive information concerning NAB's banking services including:
- for accounts with cheque access, general descriptive information about cheques;
- account opening procedures;
- NAB's obligations regarding the confidentiality of your information;
- complaint handling procedures;
- bank cheques;
- the advisability of you informing NAB promptly when you are in financial difficulty;
- the advisability of you reading the terms and conditions applying to each banking service NAB provides to you;
- general descriptive information about:
- the identification requirements of the Financial Transactions Reports Act 1988 or the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as applicable;
- the options available to you under the Tax File Number legislation; and
- a copy of the Code of Banking Practice.
8 Changes NAB may make
8.1 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 terms and conditions (including by imposing new fees or 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.
8.2 If the Account is not used for a period, the length of which is dependent upon the amount of money in the Account, the crediting of interest (if any) and issue of statements to you, if applicable, will end and access will be restricted, or the Account will be closed and any credit balance in the Account will be repaid to you, or transferred to the Commonwealth Government. NAB will notify you at your last known address at least 30 days before any such variation takes effect.
9 How will I be notified of changes?
9.1 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 will be given in writing or electronically at least 30 days before the change takes effect;
- notice of changes to default interest rates will be given, either in writing, electronically or by media advertisement no later than the day the change takes effect;
- notices 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 three months after the changes take effect; and
- notice of any other changes to these terms and conditions (including changes relating to interest other than changes to an interest rate) will be given in writing or electronically at least 30 days before the change takes effect.
9.2 Electronic communication If NAB Connect, Internet Banking, National Online Business, National Online Corporate or another similar service provided by NAB is made available to you in accordance with clause 5:
- You agree that, subject to clause 9.4(a), notices, certificates, consents, approvals and other communications in connection with the terms and conditions in this document from NAB, may be given electronically:
- by electronic mail to your nominated electronic address; or
- 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).
- 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).
9.3 If you are unable to, or otherwise do not arrange access to the Account through NAB Connect, Internet Banking, National Online Business, National Online Corporate or another similar service provided by NAB in accordance with clause 5 then if you agree, NAB may advise you of any alterations or other changes under clause 9 by electronic mail to your nominated electronic address and NAB may not give you notice in other ways (eg in writing). You may change your nominated electronic address or withdraw your agreement to receive notices by electronic mail by giving NAB notice.
- If you agree, NAB may advise you of any alterations or other changes under clause 9.1 by electronic mail to your nominated electronic address.
- If you so agree, NAB may not give you notice in other ways (eg in writing).
- You may change your nominated electronic address or withdraw your agreement to receive notices by electronic mail by giving NAB notice.
9.4 For the purposes of clauses 9.2 and 9.3:
- You may request a paper copy of a communication given electronically within 6 months of the electronic copy being received or made available.
- 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.
- For the purposes of communications 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.
- 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:
- 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
- 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.
9.5 You agree to notify NAB promptly of a change to your mailing or electronic address.
9.6 Unless determined otherwise by NAB, any notice you give NAB under these terms and conditions must be in writing.
10 How is the operation of an Account governed?
10.1 Operation of an Account will be governed by the authority which you may have already provided to NAB or will need to provide when you open the Account.
10.2 NAB may elect to not follow instructions in relation to the operation of your account or performance of any transaction if:
- NAB is not satisfied that the person giving the instruction has authority (for example, if NAB is not satisfied that the signature on the instruction matches the specimen signature held);
- in NAB’s opinion, the instructions are not clear;
- NAB cannot authenticate or validate any information or documents relating to the account or service, a person who is authorised to transact on it, or the transaction; or
- NAB is notified of a dispute between joint account holders, partners or directors (in which case NAB may require all joint account holders, partners or directors to sign any authority to operate the account).
11 Obligations of firms and joint customers
11.1 NAB will accept for credit of the Account, all cheques, bills of exchange or other instruments deposited in and all transfers made to any one or more of the persons authorised to transact banking business on your behalf in accordance with clause 10.
11.2 In the event of NAB in its discretion permitting the Account to become overdrawn, your liability to NAB in respect thereof shall be joint and several.
11.3 You must give NAB immediate notice of any change to the membership of your firm.
12 What goods and services tax and other charges apply?
12.1 NAB may debit the separate account you maintain with NAB under clause 1.6, with government charges, duties and taxes relating to an Account. For further information refer to NAB's 'Business Banking Fees - A Guide to Fees and Charges'.
12.2 If NAB is liable to pay Goods and Services Tax (GST) or any similar tax on a supply made in connection with the Account, you agree to pay to NAB (on demand) an additional amount equal to the consideration payable for the supply multiplied by the prevailing GST rate.
13 What conditions apply to joint accounts?
13.1 If there are two or more of you, you will be treated as holding the Account jointly and NAB may accept for credit to the Account any cheque, payment order, bill of exchange or instrument that is payable to all of you.
This means that each account holder has the right to all of the balance of the Account jointly with the other account holders.
13.2 If any of you die, the Account will be treated as the Account of the survivor or survivors jointly.
13.3 Unless any of you request otherwise, NAB statements and notices (including notification of any variation to these terms and conditions) will be forwarded to the mailing address of the first of you named in the Account. You will all be deemed to have received any NAB statements and notices in accordance with these terms and conditions.
13.4 A joint account holder may only make a withdrawal on the terms of any authority to operate on the Account. If NAB is notified of a dispute between joint account holders, NAB may require all joint account holders to sign any authority to operate the Account.
13.5 The liability of account holders under an Account held in joint names is joint and several. This means that each and all of the account holders are liable for the whole of any debit balance on the account.
14 Payment facilities
NAB provides cheque access to certain accounts. These are listed on the Product comparison table. If you have cheque access to the Account, the following terms and conditions apply:
- Each cheque must be completed properly and with due care so as to avoid fraudulent alteration and in accordance with the account authority you give NAB.
- You must notify NAB immediately on 13 10 12 if you have any cause whatsoever to suspect that a cheque drawn on your Account has been forged or fraudulently altered in any way or has been drawn in whole or in part without authority from you.
- You must take reasonable care and precautions to prevent unauthorised, stolen, forged or fraudulently altered or drawn cheques being presented to NAB.
- You must have in place adequate systems and procedures to prevent unauthorised, stolen, forged or fraudulently altered or drawn cheques being presented to NAB.
- You must have in place, and implement, adequate systems and procedures by which you can ascertain within a reasonable time whether your Account is being debited with amounts not authorised by you.
- You must keep cheque forms issued to you in a safe place and you must notify NAB immediately on 13 10 12 if they are lost, stolen or misused. If you do not, then subject to any applicable law, you do not have any right to make a claim against NAB in respect of such a matter (for example, a forged cheque).
- When a cheque is drawn on your Account by any person, it will, when the cheque is handed to NAB:
- be deemed to be a request by you to NAB to withdraw funds from your account for the amount shown on the cheque; and
- constitute an authority to pay those funds to the payee, indorsee, holder, bearer, depositor or presenter of the cheque or that person's bank.
- If there are not enough 'cleared funds' in your Account when the cheque is presented for payment, NAB may dishonour or pay the cheque at its discretion. This may result in your Account being overdrawn. You may also incur an Irregular Account Fee, any applicable Dishonour charges and a Reference Fee (the amount of which may vary depending on the method used to access your Account), the amount and nature of which are detailed in NAB's brochure 'Business Banking Fees - A Guide to Fees and Charges'.
- You authorise NAB to pay a cheque drawn on your Account notwithstanding that it is a stale cheque within the meaning of the Cheques Act 1986.
- You authorise NAB to pay a post-dated cheque drawn on your Account at any time before the date of the cheque arrives.
- The person signing the cheque must:
- sign any alterations;
- date the cheque the date on which it was signed; and
- complete the details.
- If, when checking any cheque or particulars of any cheque, NAB finds on it any irregularity or omission, NAB may dishonour payment of the cheque on your behalf.
14.2 Stopping payment on a cheque
- You may stop payment on a cheque before it has been paid. You may call NAB on 13 10 12 between 8am and 8pm (EST) Monday to Friday, or notify any branch of NAB either in person or by phone.
- If you advise NAB by phone, your written confirmation may be required.
- No matter how you choose to notify NAB, it is important to tell NAB quickly if you want to stop payment. You will be required to provide:
- your account name and number;
- the cheque number and amount;
- the date of the cheque; and
- to whom the cheque is payable.
- NAB may charge a fee for stopping payment on a cheque, the amount and nature of which are detailed in NAB's brochure 'Business Banking Fees - A Guide to Fees and Charges'.
14.3 Dishonouring cheques
- Your cheque may (at NAB's discretion) be returned unpaid or 'dishonoured' in certain circumstances, such as where:
- there is not enough available funds in your Account to cover the cheque;
- there is some irregularity with your cheque, for example your cheque is unsigned, is more than 15 months old, is post-dated (i.e. bears a date that has not arrived), or has been materially altered (e.g. by a change for the amount originally stated on it) and you have not signed the alteration;
- you have instructed NAB to stop payment of your cheque; or
- NAB has received notice of your mental incapacity or of your death.
- You may also incur a Dishonour Fee, the amount and nature of which are detailed in NAB's brochure 'Business Banking Fees - A Guide to Fees and Charges'.
14.4 Effect of crossing
- If you cross a cheque you are telling NAB not to cash it over the counter. The cheque must be paid to a bank (e.g. into a customer's account).
- If NAB does cash the cheque, we may be liable for any loss suffered by the true owner.
- A cheque is crossed by drawing across the face from top to bottom, two parallel lines, with or without the words 'not negotiable' between them. A crossing may be added by you when you make a cheque or by any person who obtains possession of your cheque.
14.5 Meaning of 'not negotiable' The words 'not negotiable' between two parallel lines across the face of a cheque mean that, where the cheque is transferred, the person who obtains the cheque has no greater rights than the person who transferred it to him or her. For example, your cheque might be stolen and then passed on by the thief to another person.
The person might then obtain payment of the cheque. In this case, if the cheque was crossed and marked 'not negotiable', the person from whom the cheque is stolen might recover the amount of the cheque from the person who obtains payment of the cheque, even though the person who has obtained payment may not have done anything wrong.
14.6 Meaning of 'account payee only'
- These words on a cheque are a warning to the bank with which the cheque is deposited that the cheque should be paid only to the person named in the cheque as payee. If NAB pays a different person, NAB may be liable to the true owner, unless NAB has acted in good faith and without negligence (e.g. by making enquires and receiving reasonable explanation).
- The words 'account payee only' do not prevent the transfer of a cheque.
14.7 Significance of deleting 'or bearer'
- Cheques are generally printed with the words 'or bearer' appearing at the end of the line on which you put the name of the person to be paid.
- The words 'or bearer' mean that (except where the cheque is crossed), the bank on which the cheque is drawn has authority to pay the cheque to any person in possession of the cheque, even if that person found or stole it, unless NAB has reason to suspect that the cheque might have fallen into the wrong hands.
- If you wish to alter this position by making the cheque an 'order' cheque, the simplest course is to cross out the words 'or bearer' which are printed on the cheque. Also, you may wish to add the words 'to the order of' before the name of the payee, but you will still need to cross out the words 'or bearer'.
- If the cheque is an 'order' cheque, then (except in cases where the cheque is crossed and must therefore be collected by a bank) the bank on which the cheque is drawn should only pay it:
- to the named payee; or
- to any other person to whom the named payee, by endorsing the cheque on the reverse side, has ordered it to be paid.
14.8 Unauthorised alteration of your cheques
- When you write a cheque, you should take care to reduce the opportunity for forgery and fraud. You have a duty to complete the cheque so as not to mislead NAB or make it easy for someone else to alter your cheque.
- Ways to assist you to correctly complete a cheque are:
- do not leave gaps between the words or figures;
- begin the amount in words as close as possible to the left hand side;
- begin the amount in figures as close as possible to the dollar sign ($);
- never write a cheque in pencil or ink that can be rubbed out;
- never sign a cheque before it is used or filled out; and
- always write the amount of the cheque in words as well as figures, because words are harder to alter without your authority.
14.9 When is a cheque 'cleared'?
- Clearing a cheque involves several steps which may take, in normal circumstances, up to three working days.
- The steps involved in clearing a cheque are usually:
- You deposit a cheque you have received into your NAB account;
- NAB will seek payment of the cheque from the bank on which the cheque is drawn (the two banks could be the same); and
- That bank will pay the proceeds of the cheque to NAB.
Only after the completion of these steps will the cheque be cleared.
- Normally you will not be able to withdraw the value of a cheque you deposit until the cheque is cleared, even though your Account will be immediately credited with the proceeds of the cheque. This rule applies even to cheques made payable to 'cash'.
- If a cheque you have deposited is dishonoured NAB will advise you. NAB will also reduce the balance of your Account of the cheque already credited.
14.10 Special clearance If you want fast clearance of a cheque you deposit, you can ask NAB for a special clearance. You will be provided with an estimate of the time it will take and any applicable fees. The amount and nature of these fees are also detailed in NAB's brochure 'Business Banking Fees - A Guide to Fees and Charges'.
14.11 Third Party cheques If you present a cheque which is payable to someone else or it appears to belong to someone else (third party cheque), NAB may, in its discretion, refuse to accept that cheque for deposit or refuse to cash it or may require you to comply with some conditions before it will accept that cheque for deposit or cash it.
14.12 Bank cheques Bank cheques are cheques instructing payment from the bank itself rather than from a customer's account. They are designed to provide an alternative to carrying large amounts of cash when a personal cheque is not acceptable. Bank cheques are usually requested because of the higher likelihood that they will be paid. However, bank cheques should not be regarded as equivalent to cash. Bank cheques can be purchased by NAB and non-NAB customers and a fee is charged. A bank may dishonour a bank cheque if:
- the bank cheque is forged or counterfeit;
- the bank cheque has been fraudulently and materially altered;
- a fraud or other crime has been committed;
- the bank is told the bank cheque has been lost or stolen;
- there is a court order restraining the bank from paying a bank cheque;
- the bank has not received payment or value for the issue of the bank cheque; or
- a bank cheque is presented by a person who is not entitled to the cheque proceeds. If a bank cheque is lost or stolen, NAB will, on certain conditions provide a replacement cheque for a fee."
15 You must check your statements
Without limiting any part of these conditions, you must promptly review your statement of account to check for and tell NAB of any transaction recorded on your statement that you suspect for any reason that you did not authorise or that the information recorded is incorrect. If you do not, then subject to any applicable law, you do not have any right to make a claim against NAB in respect of such a matter (for example a forged cheque).
Subject to any applicable law, you agree to release NAB, indemnify NAB, and save NAB harmless from all liability which NAB may have if NAB refuses to allow payment of a cheque in good faith and in the ordinary course of business, or if a stop payment request is given too late to enable payment to be stopped, or if NAB suffers any loss as a result of acting on your instructions in relation to a cheque (such as processing a request to stop payment on a cheque), or as a result of you breaching any obligation you have in this clause, and you authorise NAB to debit any account of yours with the amount of the indemnity.
17 Reference to Product Disclosure Statement (PDS) in ancillary documents
Where the context so requires, a reference to a Product Disclosure Statement or a PDS for the Accounts covered by these terms and conditions in any brochure, letter, application form or other document issued by NAB shall be construed as a reference to these terms and conditions.
18 How can I get more information?
You can obtain more information about NAB's:
- Statutory Trust Accounts;
- standard fees and charges; and
- banking with NAB,
by visiting nab.com.au or any branch or calling 13 10 12.
19 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 we are unable to resolve your complaint to your satisfaction, you can seek assistance from the Financial Ombudsman Service (FOS). The FOS provides an independent dispute resolution service and is approved by the Australian Securities and Investments Commission (ASIC) as an external dispute resolution scheme.
20. Financial Claims Scheme Disclosure
The Financial Claims Scheme provides a guarantee of funds deposited with an authorised deposit-taking institution (ADI) such as NAB. In the event that an ADI becomes insolvent, customers may be eligible to claim the amount of their deposits with that ADI from the Scheme. Payments under the Scheme are subject to a limit for each depositor. For more information regarding the Scheme, contact the APRA hotline on 1300 13 10 60 or see the APRA website at http://www.apra.gov.au.
21 Meaning of words
Account means any Statutory Trust Account with NAB set out in the Product comparison table.
Banking Day means a day other than a Saturday, Sunday or a day gazetted as a public holiday throughout Australia.
GST is a Goods and Services Tax or any similar tax imposed in Australia.
NAB means National Australia Bank Limited and its successors and assigns.
Fee table means the Fee table in Part C of these terms and conditions.
You means the customer or customers who open the Account, and if there is more than one, you means each of them separately and every two or more of them jointly. You includes your successors and assigns and, in relation to your rights to operate the Account, any other authorised signatory to the Account acting within his or her authority.
Part C Fee table
In addition to the Other Service Fees, Legal Fees and Government Taxes contained in the brochure 'Business Banking Fees - A Guide to Fees and Charges' which is part of these Terms and Conditions and is available from NAB, the following fees are payable in connection to the Account:
Note: The letters in column titled 'Fee Structure' on page 4 have the following meanings:
A - The Account Fee and Charges described in the Fee table are applicable to each Account. B - Exemption to Account Service Fee as described in the Fee table. C - Exemption to Account Service Fees and Charges as described in the Fee table.
|Account Service Fee||$5.00 per month|
|First 10 items for the month||Free (part of monthly account service fee)1|
|Then items over the free limit will be charged as follows:|
||$0.30 per item|
||$0.30 per item|
||$0.30 per item|
|(Refer below for definitions)|
1 Multiple Funds Transfers via NAB Internet Banking are excluded from the first 10 free items per month and are charged as normal.
Note: If an electronic transaction (such as a periodical payment) attracts an electronic transactions fee and a separate service fee as set out in Section 5 - Other Service Fees of the brochure 'Business Banking Fees - A Guide to Fees and Charges, the separate service fee is always payable, even if the transaction is included in the first 10 items for the month.
|Over the Counter deposits, withdrawals and each item lodged on deposit include:|
|Deposit slips processed over the counter or at Australia Post outlets|
|Withdrawal slips or cheques cashed over the counter|
|Each item lodged with a deposit slip|
|Deposits or withdrawals made over the counter where a card or a card and PIN are used in connection with the transaction/s. Note: each deposit transaction and each withdrawal transaction to/from an account is a separate item.|
|Non-Over the Counter deposits, withdrawals and each item lodged on deposit include:|
|Deposit slips processed via Non-Over the Counter methods such as Express Business Deposit and Cheque Only Deposit. This includes Express Business Deposits lodged into a Bank Automated Deposit Machine (ADM).|
|Any other cheques written on an account (withdrawals)|
|Each item lodged with a deposit ie each cheque paid in with a deposit slip via Non-Over the Counter methods such as Express Business Deposit and Cheque Only deposit. This includes Express Business Deposits lodged into a Bank ADM. Note: A merchant envelope is counted as one item.|
|Electronic transactions (where available) include:|
Transactions to/from your account conducted via NAB Internet Banking (including bill payment BPAY®). NAB Telephone Banking (including bill payment BPAY®), periodical payments, direct credits and other funds transfers to/from your account but do not include:
Important Note: Some electronic transactions will also attract a separate fee, as set out in Section 5 - Other Service Fees of the brochure 'Business Banking Fees - A Guide to Fees and Charges'. For example, a payment from your account made under a Periodical Payment Authority is an electronic transaction and is charged accordingly. A separate Periodical Payment fee is also payable.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
For more information call 13 10 12
8am - 8pm EST, Monday to Friday or visit us at nab.com.au
Hearing impaired customers with telephone typewriters can contact us on 1300 363 647
©2011 National Australia Bank Limited ABN 12 004 044 937 ACL/AFSL 230686 68316A0811