What is NAB Escrow?
The NAB Escrow service is a secure, transparent digital Escrow service provided by NAB.
Who's eligible to apply for NAB Escrow service?
You’ll need to make sure you meet the following criteria to be eligible:
You’ll be required to provide your NSW Bar Association member number in the application form (PDF, 381KB), opens in new window.
You must confirm you’re a law clerk or an administrator of a barrister of chambers.
If you're applying as an authorised user for a group (e.g. a Chambers group), when submitting an authorised user application form (PDF, 244KB), opens in new window, an authorised representative of the group will need to provide a confirmation letter acknowledging you have been appointed as an authorised user for the group.
Contact the NAB Escrow team for more information.
Features and benefits
Credit risk management
Security of funds held in an Escrow account. Timeliness and certainty of payment.
Efficiency in client money management
Simplified administration including reconciliation, reporting and reduced paperwork.
Get the most from your Escrow service
Dedicated sales and servicing team to support you with establishment and use of the Escrow service.
How to use the NAB Escrow service
Sellers (e.g. barristers) will typically provide their buyers (clients) with a cost agreement and fee estimate prior to commencing work.
Upon successful registration for the NAB Escrow service, the seller can log into the online NAB Escrow portal to create a matter and invite their buyer to use the NAB Escrow service.
Upon successful registration of the buyer, the seller can send a deposit request to the buyer via the NAB Escrow portal.
The Buyer deposits funds into the Escrow account.
When the seller is seeking payment for services, the seller can request a payment release from the Escrow account. If no dispute is raised by the buyer in the specified timeframe, the funds will be released to the seller's nominated bank account.
Using the NAB Escrow portal
Our short video demonstrates how easy it is to use the NAB Escrow portal to manage your payments.
Understand how the Escrow service can work for different types of users and view more detailed information on how buyers or sellers can use the service.
A seller (e.g. barrister) is the customer of NAB and has the ability to record and send deposit requests to their client in relation to a service. The seller can then lodge a request to release part or all of the funds held in the Escrow account when seeking payment.
A buyer (client of the seller) can receive deposit requests from the seller and pay funds into the Escrow account where they will be held until the seller requests a payment release, provided the buyer does not raise a dispute within a specified timeframe. A buyer may also request a refund of some or all of the funds paid into the Escrow account. The refund will be made to the buyer if the seller does not raise a dispute within the specified timeframe.
Help and support
Use our support information to help you set up and use the NAB Escrow service and portal.
Terms and Conditions
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NAB recommends you consider the Terms and Conditions or other disclosure document, available from NAB, before making any decisions regarding these product. These products are issued by National Australia Bank Limited ABN 12 004 044 937.
Target Market Determinations for these products are available at nab.com.au/TMD.