NAB Retirement Account

If you're over 55 and retired, or receiving a Department of Social Security pension or allowance which is subject to deeming, the NAB Retirement Account offers:

• no monthly account fees, and no minimum opening balance
• competitive interest rates, tiered so that higher balances earn higher rates
• compatibility with the government's income assessment and deeming rules
• a NAB Visa Debit card with payWave at no extra cost
• unlimited access to your money through NAB Internet Banking or NAB Telephone Banking, in any branch, through our ATM network (including rediATMs), using EFTPOS, or through an optional chequebook.
• the option to add a personal overdraft for those times you need a little extra cash
• protection from fraud with our NAB Defence security promise.

Fees

You told us you want fairer banking, and we listened. We promise you:

• no monthly account fees, regardless of your deposits or your balance.
• no overdrawn fee.
• no ATM direct charge at NAB ATMs and rediATMs.

Fees can apply to non-NAB ATMs, and transactions in foreign currencies. See the "Access" tab for details.

• Personal banking guide to fees and charges
• Terms and conditions for personal accounts

Because of the documents we need to check before we open a Retirement Account, you can't apply online. Instead you can:

• call us on 13 13 12 from 7am-9pm Mon-Fri, or 8am-9pm on weekends (AEST/AEDT)
• see us in any branch.

When you apply we'll need:

• evidence that you receive a Government pension or Centrelink payments, eg. either your concession card or a letter
• your current Senior's Card, if you have one
• if you're new to NAB, 100 points of identification. Acceptable ID includes your passport, driver's licence and rates notice.

Already banking with us?

We can change your account over the phone. Call us on 13 22 65 from 7am-9pm Mon-Fri, or 8am-6pm on weekends (AEST/AEDT). Make sure you have your BSB and account number handy.

After you've applied

Even if you already bank with us, we'll need to check your eligibility for the NAB Retirement Account. We can do this in any NAB branch.

After we've opened your account you can normally start depositing money straight into your new account.

Do your banking how you want, with unlimited access through:

• NAB Internet Banking
• NAB Telephone Banking (13 22 65, 24 hours a day, 7 days a week)
• EFTPOS
• our ATM network, including rediATMs
• any NAB branch
• an optional chequebook
• Bank@Post^TM – withdrawals, deposits and balance checks through Australia Post.

Non-NAB ATMs

To avoid ATM fees it's best to use our ATM network, including rediATMs.

We don't charge you for using other ATMs, but the owners of other ATMs might directly charge you. If they do, you'll see a message and you'll have the option to quit before you're charged.

Overseas ATMs

There are fees for using ATMs overseas - $4 per withdrawal and $1 per balance enquiry.

There’s also a 2% fee on the Australian dollar transaction amount for cash withdrawals or purchases made in currencies other than Australian dollars.

If you want to avoid these fees, consider NAB Gold Banking.

You can use your NAB Visa Debit card with payWave wherever you'd normally use a normal debit card, as well as wherever Visa is accepted. However you use it you're spending funds from your NAB Retirement Account. (Fees can apply at non-NAB ATMs. See the "Access" tab for details.)

• Choose a black or pink card.
• Access special offers on shows, events, experiences and movies from Visa Entertainment.
• Chip technology to help keep your card secure.
• Shop online more safely with Verified by Visa.
• A statement every two months to help you keep track of your spending.

Please note: The red and white NAB Visa debit cards are still available through the online application only, however, they will not have the Visa payWave feature.

NAB Visa payWave

There’s now a new way to pay for small purchases with your debit card. One that’s faster and more convenient than ever before – NAB Visa payWave. Using the very latest in contactless technology, it lets you pay for purchases under $100 without swiping your card, signing your name, or even entering your PIN at any merchant displaying the Visa payWave contactless reader and symbol.

• Read more about NAB Visa payWave

Press "credit" when you shop and get:

• complimentary 3 months purchase protection¹
• Visa Zero Liability – reimbursement if your card is used fraudulently, or after it's been lost or stolen (conditions apply).

Overseas ATMs

Your NAB Visa Debit card works in most overseas ATMs on the PLUS network. Just look for the PLUS sign.

Read more about NAB Visa Debit cards

1. This is only a brief summary of the benefits and exclusions may apply. Purchase Protection Insurance for NAB Visa Debit card is issued by Chubb Insurance Company of Australia Limited (Chubb), ABN 69 003 710 647, AFSL No. 239778 of Level 29, Citigroup Centre, Park Street, Sydney, New South Wales 2000. The terms, conditions and exclusions of Purchase Protection Insurance are specified in the NAB Purchase Protection Insurance policy information booklet and may be amended.