How do I access Receive a Deposit?

Your NAB Connect Administrator will be able to add you as a General User to access Receive a Deposit. Once you receive access, simply register and login using your NAB Connect credentials. Next, follow the on-screen steps to enter the details of the property being sold and the deposit payer’s details.

Receive a Deposit can be accessed through NAB Connect on mobile, tablet or desktop (via a browser). 

When can I use Receive a Deposit?

Receive a Deposit can be used in several cases, including auction payments, private sales and part payments of deposits. 

If a deposit payer does not have the entire deposit amount available on auction day, you can process a part payment on the day, and process the remaining balance when the funds are available. To commence a part payment, you will need to contact the payer. 

There is no restriction in collecting multiple payments for the same property address, but the payer may be bound by limits set by the other financial institutions.

You can decide whether to collect multiple deposits using Receive a Deposit (subject to the limit set for each payment) or collect the balance of the deposit through alternative methods such as bank transfer or bank cheque.

How to accept a deposit 

  1. Log in to NAB Connect, opens in new window.
  2. Under Product in the menu, select Receive a Deposit.
  3. Enter the property details, including deposit amount.
  4. Enter the payer’s name and email address. The email address being collected will receive a copy of NAB’s Privacy Policy and a confirmation of payment.
    During this stage, confirm with the payer that they consent to collection and disclosing their details to National Australia Bank Limited for the purpose of paying their deposit and receiving confirmation of the payment.
  5. Select which financial institution the payer is making a payment from and enter payer account details or PayID®.
  6. Confirm details with the payer.
  7. The confirmation screen will show that the PayTo® agreement is ready. Stay on this screen while your payer completes the steps below.
  8. Instruct your payer to log in to their banking app or internet banking via a web browser and navigate to the View PayTo Agreements screen (this will differ by financial institution). 
  9. Your Payer will need to review the PayTo agreement and authorise the payment.
  10. You will then see that the payment was successful on your Receive a Deposit screen.
    Please note that the PayTo agreement will time out if it’s not authorised within 10 minutes. If this occurs, then the PayTo agreement will need to be triggered again by repeating these steps.
  11. You and the payer will receive an email confirmation that the deposit payment is being processed.

How secure is Receive a Deposit?

Receive a Deposit is backed by NAB, so sales agents and payers can be assured that using this platform is secure, and a trustworthy method to make sure deposit funds are received safely to the correct destination.

I no longer require access to Receive a Deposit

You will need to contact your NAB Connect Administrator and request your access be revoked.

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