NAB abolishes fees early

7 September 2009

National Australia Bank announced, effective immediately, overdrawn account fees on all NAB personal transaction and savings accounts would no longer apply.

This change comes more than more than three weeks prior to the original targeted date of 1 October 2009. NAB has undertaken extensive work making changes to its systems so that customers can benefit from the removal of these fees sooner.

Overdrawn account fees are charged when a customer’s personal transaction or savings account is overdrawn. These fees currently impact on around 700,000 NAB personal transaction or savings account customers a year.

These fees also generate the most customer complaints to the bank of any bank fee and result in more customer complaints to the bank than any other matter.

NAB is continuing to look for ways to improve its relationship with customers, seeing the abolition of overdrawn transaction fees as an important first step.

Media Contact:
Gillian Griffiths,
NAB Corporate Affairs
M: 0419 667 783