immediately via Internet Banking by clicking on New International Funds Transfer and following the prompts
by contacting the NAB Internet Banking Support Team on 1300 651 656
during the NAB Internet Banking registration process
by completing an application form available from a NAB store.
Note: To enable pay anyone access over the telephone, you will need to be registered for SMS security
The default 'Pay Anyone' access daily limit is $5000.
You can apply to increase your daily Pay Anyone limit up to $20,000 via Internet Banking so long as you are registered for SMS Security. If you want a higher limit (up to $20,000 for personal banking customers) you will need to:
Register for SMS Security (if you're not currently registered), and
Open the Settings/Mailbox menu and select Security & password
Select Change daily transfer limit and follow the prompts
If you aren't registered for SMS Security, you can apply for a higher limit of up to $20,000 by:
Obtaining an application form from a NAB store. Locate your nearest NAB store.
Complete the application form.
Visit a NAB store 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.
Can I set up a periodic or future dated International Funds Transfer?
Yes, you now also have the ability to set up periodic international funds transfers with the option to have your payment processed weekly, fortnightly, monthly or quarterly.
You can also select a date (up to 18 months) to send money overseas in the future. For both periodic and future dated International Funds Transfers, the foreign exchange rate at the time of the transaction will be applied and confirmed to you via secure email.
When completing your International Funds Transfer you can select to have the additional fees ; charged back to your account, or charged to the beneficiary. (This may result in the beneficiary receiving less funds than the amount sent)
What if I am unsure of what the exchange rate of the currency I am transferring to is?
When sending an International Funds Transfer, an indicative exchange rate will be provided in the International Funds Transfer Form and you will be asked to accept the final, real time foreign exchange rate when confirming the transaction. Where real time rates are unavailable, e.g. outside of business hours or for future-dated transactions, the rate will be applied at the time and you will receive a confirmation via secure message once your transaction is completed.
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 'Payment 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 Funds Transfer?
To dispute an online International Funds 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.
I am receiving a message stating that my transfer will potentially overdraw my account, why is this?
The initial International Funds Transfer Form uses an indicative foreign exchange rate and will display this message if your account is likely to overdraw. If you accept this message, when the real time rate is applied if your account has insufficient 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 Funds Transfer sent via Internet Banking 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 Funds 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 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 'Payee List' in the 'Funds transfer' menu. Next time you perform an International Funds Transfer your beneficiaries will appear in a drop down list in the application.
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 store. 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.
What are the cut-off times for International Funds Transfers?
To ensure the International Funds Transfer is processed and sent on the value date specified in the transfer, International Funds Transfers must be sent to NAB before the currency, country and end of day cut-off times. If a transfer is sent to NAB after any of the established cut-off times, NAB will process the transfer, however the value date of the transfer will be changed to the next business day.
International Funds Transfers received on a National public holiday, NSW public holiday, or on a Saturday or Sunday will not be processed until the next business day. The value date of the transfer will also be changed to the next business day.
Note: The below cut off times are for international payments made to trusted beneficiaries. Payments made to beneficiaries for the first time may be delayed being sent to the overseas bank until the next business day.