A guide to fees and charges - personal banking fees
What's in this guide?
This guide covers the fees that may apply for a range of our personal accounts and services. It only applies to NAB branded products and services unless we have specifically advised you otherwise. You can use this guide to identify which fees may apply to you and ways you may reduce or avoid these fees.
Section 1 details the fee structure for NAB Transaction and Savings accounts and NAB Visa Debit card.
Section 2 details the fee structure for service fees.
Sections 3-6 cover the remaining fees which could apply to your account including fees relating to loans and lending, and government taxes and charges. We pass on government charges and taxes to customers at the time they are payable. These taxes may change at any time.
There is a separate fees and charges guide for business banking products.
How this guide fits with other documents
This document forms part of the terms and conditions or PDS for these products, along with the other documents detailed below:
Documents that make up the Terms and Conditions or PDS for this product, along with this document
NAB Personal Transaction and Savings Products
NAB Personal transaction and savings products terms and conditions
Indicator Rates – Deposit Products
NAB Internet Banking
NAB Internet Banking terms and conditions
NAB Telephone Banking
NAB Telephone Banking terms and conditions
NAB Electronic Banking (card based)
Product Disclosure Statement including Conditions of Use for Electronic Banking (card based)
NAB Cash Manager
NAB Cash Manager Terms and Conditions
Indicator Rates – Deposit Products
If you haven't already received a copy of each of these items for your product, please let us know.
If you have any questions simply visit your nearest NAB store or phone us on 13 22 65 from 8am-7pm Mon-Fri, or 9am-6pm on weekends (AEST/AEDT) .
Accounts opened prior to 1 December 2000 will be charged an annual fee in January each year. Accounts opened from 1 December 2000 will be charged the first annual fee when you accept the credit card agreement and then annually in the same month thereafter.
Credit Card Annual Fees
NAB Low Rate Card
NAB Low Fee Card
NAB Standard Card
NAB Premium Card
NAB Velocity Rewards Card
NAB Velocity Rewards Premium Card
NAB Qantas Rewards Card
NAB Qantas Rewards Premium Card
NAB flybuys Rewards Card
NAB Visa One Fee-Free*
NAB Visa Mini*
NAB Ant™ American Express® Card with No Annual Card Fee*
Velocity NAB Visa Card*
Velocity NAB Gold American Express® Card*
NAB Qantas Plus Card*
NAB Low Fee Premium Card*
NAB Low Rate Premium Card*
* Product not for sale.
™ Ant is a Trademark of National Australia Bank Limited ABN 12 004 044 937.
® American Express is a registered trademark of American Express Company. NAB American Express Cards are issued by NAB pursuant to a licence from American Express.
® MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.
The annual fee is waived for cards included in a NAB Tailored Home Loan Package,1 NAB Choice Package, Private Tailored Package, NAB Introductory Rate Home Loan,1 Homeowner’s Package,1 Portfolio Package and Private Portfolio Package for the life of the Package.
When a package is cancelled/ terminated, the annual card fee will be debited after the Package ends and then annually in the same month thereafter.
Cards included in NAB Shareholder’s Package will have the Credit Card annual fee waived for the next annual fee period, if net purchases on the relevant account during an annual fee period exceed $4,000 on NAB Low Fee Card and NAB Velocity Rewards Card accounts and $7,500 on NAB Premium Card, NAB Qantas Plus Card and NAB Velocity Rewards Premium Card accounts. The following Cards included in NAB Shareholder’s Package will have the Credit Card annual fee waived: NAB Qantas Rewards, NAB Qantas Rewards Premium and NAB flybuys Rewards Card.
The following NAB International Transaction Fees apply to all credit card accounts, except NAB Visa One Fee-Free.
Single Currency Transaction: A transaction made in Australian dollars with an internationally-designated merchant.
Multi Currency Transaction: A transaction made in a currency other than Australian dollars with an internationally or Australian-designated merchant.
NAB International Transaction Fee1
Multi-Currency (Made with an internationally designated merchant)
Multi-Currency (Made with an Australian designated merchant)
Includes a NAB Processing Fee of 1.50% plus any Card Scheme Fee charged to NAB and on-charged to you. This Fee is a percentage of the converted AUD amount shown on your statement.
American Express Multi-Currency transactions are also subject to an American Express Currency Conversion Factor of 1.00% of any USD transaction amount or any USD equivalent amount for transactions made in non-USD. This Factor is included in the converted AUD amount shown on your statement.
The following cash advance fees apply to all credit card accounts, except NAB Visa One Fee-Free.
For Cash Advances you will be charged a percentage of the Cash Advance (in Australian dollars) or the minimum fee, whichever is the greater.
Note: NAB posts purchases and cash advances in that order to your account before posting payments and refunds.
Cash Advance amount
In the case of cash advances made in currencies other than Australian dollars, the cash advance amount used to calculate the cash advance fee is the Australian dollar amount posted to your NAB Credit Card account.
American Express cards are not accepted at non-NAB branches, Travelex or Australia Post (bank@Post) outlets.
You may be charged by the ATM owner where you make a cash advance using an ATM in Australia that doesn’t belong to NAB or the rediATM network.
We will advise you in writing of any agreed borrowing facility which will cover the interest rate, how and when it is charged, and what fees are payable. Fees typically include an Application Fee and a Loan Service Fee.
Changes to interest rates are advised by press advertisements and appear on your loan account statement. Details of current rates can be obtained from your branch.
Application fees are non refundable upon acceptance of loan or lending facility. If the facility is declined by NAB or not accepted by you, the application fee will be refunded.
For loans included in a Package there is no Application Fee or Facility Fee. Application Fee includes up to 2 home loan applications, provided they are applied for at the same time and are over the same security.
Loan Service Fee
There are no Loan Service Fees for:
loans included in a Package
NAB FlexiPlus Mortgage
NAB Base Variable Rate Home Loan
$8 per month
Rate Lock allows customers applying for a fixed rate home loan to lock their fixed interest rate for up to 90 days.
Fee available on request
Progressive Drawdown Fee
(applies to construction loans only)
$60 per payment
Economic costs are NAB's reasonable estimate of our loss (if any) from the prepayment of a fixed rate loan. Economic costs may be payable if you prepay more than $20,000 or close the loan during a fixed rate period or, end your fixed rate period early.
Charges where Uncertificated Shares Provided as Security Under CHESS (Clearing House Electronic Sub-Register System). All fees are GST inclusive
Establishment of Sponsorship and Holder Identification Number (HIN), upon lodgement of a single line of shares into the Mortgagor's HIN
Securities valued1 at up to $500,000
Securities valued above $500,000
$120 for the first $500,000 plus $33 for every $100,000 (or part thereof) above $500,000
Additional lines of security lodged at establishment
$44 irrespective of value
Statement of holdings
Statement of transactions
All other transactions not otherwise mentioned above or exempted4
Security valuation is the last price quoted at the close of trading on the day before the instruction to establish the holding being issued to the Sponsor, multiplied by the number of shares held.
Must be lodged with the Sponsor no later than two (2) business days prior to the 'ex' date for any distribution of income or capital from the company.
Must be notified to the Sponsor no later than two (2) business days prior to the closing date of the takeover offer.
Includes the addition or removal of shares to the Mortgagor's HIN, but excludes the initial receipt of one or more lines of shares at the establishment of the facility and any holding altered by a corporate action, i.e. bonus, rights and Dividend Reinvestment Plan issues.
Legal fees for work performed by the Bank's internal legal department. Please refer to NAB's Legal Fees and Charges booklet, available on request, for a comprehensive list of legal fees and charges applicable to lending transactions and enforcement matters where legal work is performed by NAB's internal legal department.
Overseas parties that direct a payment to NAB may charge NAB a commission in respect of these transfers, which are included in our fee. Our fee also depends on the currency of the transfer. This fee is usually deducted from the amount paid. In some cases, the sending party may instruct NAB to charge our fee to them. Where NAB does this, NAB will not charge the payment beneficiary and may charge the sending bank a higher amount than set out below.
Transfers to NAB in Australian or overseas currency:
Deposited to NAB account
Up to $15
Deposited to non- NAB account (NAB acting as intermediary)
Up to $30
Transfers of overseas currency received by NAB and transferred to another bank unconverted:
Paid annually in advance, due date 31 May.
Existing first packet lodged on or before 1 January 1995 is $Nil until further notice.
Customer Supplied Locked Box
Paid Annually in advance, due date 31 May
Cubic Capacity (cm)
Annual Charge p.a.*
Up to 8,000
For each additional 8,000 cubic centimetres or part thereof
Double Custody Item
Paid in advance, on lodgement per item for 3 months.
For small secure package, box or envelope.
Maximum period is 3 months.
Safe Custody Services—Activity Charge
Safe Deposit Box/Locker
Refer to Safe Deposit Centre Facilities, below
Safe Deposit Centre Facilities, including Safe Deposit Boxes/Lockers
Available in Adelaide, Brisbane, Melbourne, Perth and Sydney. Fees for services vary depending on where the service is provided. Details of applicable fees are available upon request at the Safe Deposit Centres or phone us on 13 BANK (13 22 65).
Other Banking Services
Account balances or interest accrued
$15 per certificate
Bank confirmation - audit requests
Comprehensive certificates supplied for audit
Deeds and documents held
Note: Charge will apply whether documents are held as security or otherwise, and to confirmation of previous certificates.
Each certificate at an hourly rate of
$90 per hour (minimum
$70 per certificate)
Transactional legal fees will apply where, as a condition of NAB providing a loan, taking a security, consenting to an amendment to a loan or security or providing banking accommodation, legal work is required to be done by NAB's internal legal department. The legal fee will be disclosed to you by your banker before any legal work is commenced.
Incurred when the NAB processes written instructions received via letter or facsimile to manually transfer funds to another NAB account or an account with another financial institution. Facsimile written instructions will only be acted on where a facsimile letter of authority is held.
$20 per transfer (not per letter or facsimile). Plus applicable service fees (see International Services and Other Banking Services)
This fee does not apply to any credit contract with NAB to which the National Credit Code applies.
This fee does not apply to instructions such as Periodical Payments, Direct Debits and Cheques.
The GST Clause applies to fees and charges that are not expressed as 'GST inclusive' in this brochure. However, in the event of a change to the GST rate, NAB reserves the right to apply the GST clause to all fees in this brochure.
If NAB is liable to pay goods and services tax or any similar tax (GST) on a supply made in connection with a service referred to in this brochure, then the Customer agrees to pay NAB (on demand) an additional amount equal to the consideration payable for the supply, multiplied by the prevailing GST rate.
General Advice Warning
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, National Australia Bank Limited (NAB) recommends that you consider whether it is appropriate for your circumstances.
We also recommend you consider the Product Disclosure Statement or other disclosure document, available from NAB,before making any decisions regarding any of the products listed on page 3. The above products are issued by National Australia Bank Limited.
Definition of GST
'GST' a goods and services tax or any similar tax imposed in Australia.
For more information call 13 22 65 from 8am-7pm Mon-Fri, or 9am-6pm on weekends (AEST/AEDT) .
visit us at nab.com.au or ask at your local branch
Hearing impaired customers with telephone typewriters can contact us on 13 36 77