NAB Classic Banking wins choice award for best low-fee bank account

Tuesday, 16 March 2010

NAB welcomes the CHOICE Award – ‘Best Low-Fee Bank Account’ for NAB Classic Banking, presented at the inaugural award ceremony in Sydney last night.

Winning the sole banking category award represents a strong signpost that NAB is on the right path in its long term commitment to providing a fairer banking experience to its customers.

Since NAB first announced last year its commitment to do things differently and bring more competition and choice to bank customers, it has already abolished a number of the most disliked fees by consumers across its Personal and Business banks and started providing more transparency on interest rate pricing.

Following its pledge to improve relationships with customers and the community, NAB has also seen a real competitive advantage through improved customer satisfaction, decreased customer complaints, increased number of consumers joining the Bank while decreasing the number leaving, and improved overall service levels.

NAB has also welcomed a record number of Australians to its NAB Classic Banking account since abolishing monthly account service fees on 22 January 2010, with over 47,000 new accounts.

For NAB Classic Banking and other popular everyday personal transaction accounts NAB has made the following improvements:

  • Abolished $4 and $5 monthly account service fees on NAB’s most popular everyday personal transaction accounts: Classic and e-Banking
  • Abolished $30 overdrawn account fees on all personal transaction and savings accounts
  • Abolished SMS Banking fees, including SMS Alerts
  • Joined forces with rediATM to create one of Australia’s largest ATM networks so customers can avoid paying ATM Direct Charge fees charged by other Banks in over 3,100 locations.

Around 97% of all NAB personal transaction account customers have now had their monthly account service fees abolished or waived.

Media contact:
Gillian Griffiths
NAB Corporate Affairs
Mob: 0419 667 783