About this document

This Financial Services Guide (‘FSG’) is an important document that is provided by National Australia Bank Limited ABN 12 004 044 937 (‘NAB’, ‘we’, ‘us’ or ‘our’).

Our contact details are set out at the end of this FSG. This FSG sets out the range of financial services and the types of financial products that we are authorised to provide under our Australian Financial Services Licence No. 230686 (AFSL). Except as stated below, it relates to the financial services we provide to retail customers and contains information to help you decide whether to use these financial services.

It also includes information about:

  • how we and our associates are remunerated in relation to the services offered;
  • any relationships or associations we may have with product issuers; and
  • our internal and external complaints handling procedures and how these are available to you.

This FSG does not relate to any financial services provided by JBWere Limited (JBWere), WealthHub Securities Limited (WealthHub Securities), uBank or Citigroup Pty Limited (Citi). JBWere, WealthHub Securities and Citi have their own FSGs. It also does not relate to certain services or products we provide that are not financial services or financial products (for example loan products other than margin loans, arranging for you to receive custodial services from a third party).

Not independent

NAB and its representatives are not independent, impartial or unbiased (which are restricted words or expressions under the Corporations Act) in relation to the provision of personal advice to retail clients. This is because NAB representatives only offer advice on the range of financial products issued or sold by us.

If you are a retail client and we give you personal advice, we must act in your best interests, and give you appropriate advice.

We will generally provide you with a Product Disclosure Statement (PDS) or other disclosure document (such as terms and conditions) in relation to a financial product if we give you personal financial product advice about the product or if we offer or arrange to issue a financial product to you. Financial product advice is a recommendation or opinion which is intended to influence you in making a decision to acquire or retain a particular financial product or a class of financial products, or which a reasonable person might regard as having such an influence. Personal advice is financial product advice that takes into account one or more of your objectives, financial situation and needs.

General advice is financial product advice which is not personal advice. In certain circumstances we are not required to provide a PDS (including, for example, where you already have one).

The PDS contains information about the financial product and will assist you in making an informed decision about the product.

If you are provided with personal financial product advice we will present you with a written Statement of Advice (SoA) when required. The SoA will describe:

  • any advice and strategies we recommend and the reasons why;
  • the financial products and services we recommend and the reasons why;
  • any fees or commissions we may receive; and
  • any associations we have with financial product providers or other parties that may influence the advice we provide.

After that, any time we give you further financial advice, we will either provide you with another SoA or give you (or keep our own) written Record of Advice (RoA).

We are not required to issue you with a SoA nor give you a PDS in relation to basic deposit products and certain non-cash payment products provided we disclose certain information about the product and, in respect of personal financial product advice, remuneration and other benefits or interests which may influence the advice.

If we provide you with further advice, you may request a record of the advice at that time, or by contacting us on 13 22 65 up to 7 years after the day of providing the advice.

Financial services and products we are authorised to provide

NAB is authorised under its AFSL to provide the following financial services:

  • financial product advice (both general and personal); and
  • dealing in financial products on behalf of others.

These services may be provided with a range of financial products including:

  • basic deposit products;
  • other deposit products;
  • non-cash payment products;
  • derivatives;
  • foreign exchange contracts;
  • general insurance products;
  • government debentures, stocks or bonds;
  • life insurance products (investment life and life risk);
  • managed investment schemes including investor directed portfolio services (IDPS);
  • retirement savings accounts;
  • securities;
  • superannuation;
  • standard margin lending facilities;
  • Australian carbon credit units; and
  • eligible international emissions units.

NAB is authorised to issue financial products in the above range (excluding government debentures, stocks or bonds, general insurance products, life insurance products, superannuation, Australian carbon credit units and eligible international emissions units), to arrange for another person to issue general insurance products, and to underwrite interests in managed investment schemes and issues of securities.

NAB is a non-broker participant on the Australian Securities Exchange Ltd, and is also authorised to make a market in foreign exchange contracts, derivatives, debentures, government bonds or stocks, Australian carbon credit units, eligible international emissions units and other financial products.

NAB may also operate custodial or depository services (not IDPS) and arrange for custodial services to be provided by third parties.

Who does NAB act for when providing financial services?

NAB is responsible for the financial services it provides to you under its AFSL. NAB may act as a distributor or agent on behalf of other product issuers, general insurance companies and life insurance companies through distribution or agency arrangements. See below for further details of those relationships.

NAB may also act as your agent in providing brokerage services to you.

NAB may also arrange for you to receive custodial services from a third party custodian.

What relationships do we have with product issuers or distributors?

Many of the financial products offered by NAB are issued by us and companies related to us. Related companies in the NAB Group that are product issuers (in addition to NAB) include JBWere and WealthHub Securities.

NAB acts on behalf of other product issuers when it distributes general insurance products and life insurance products.

NAB and Rivva Pty Ltd (‘Spriggy’) have an arrangement under which they distribute each other’s products (including third party issued Spriggy products).

If you need to know the name of the issuer of a financial product that NAB offers you, and therefore who NAB acts for when it offers you that product, please refer to the Product Disclosure Statement, Statement of Advice or any other disclosure document you receive or ask your adviser.

Any additional relationships which we have for the purposes of JBWere, WealthHub Securities or Citi will be disclosed in the FSGs for these parts of our business.

Some of the financial products sold by NAB are issued by third parties, namely the bonds.

Arrangements with external service providers

NAB may from time to time engage a third party to provide financial services on its behalf or to provide services to NAB’s customers either directly, or as NAB’s agent. Where a third party does not hold its own AFSL, it may provide the financial services as NAB’s ‘authorised representative’.

NAB may authorise a company or an individual to act as our authorised representative for sales and marketing activities.

How can a NAB staff member assist you?

To the extent that we authorise a NAB staff member to do so, the staff member can help you to apply for the financial products referred to in this FSG and can also give you financial product advice in relation to them.

If a NAB staff member is unable to provide you with a financial service or a financial product that you are interested in or is in your best interests, the staff member will refer you to another staff member who may be able to assist you.

Some customers are referred for financial advice services to JBWere (a wholly owned subsidiary of NAB) or Insignia Financial Ltd (Insignia Financial) businesses, such as Bridges Financial Services Pty Limited (Bridges Financial Services).

If you let us know that you require this, we may refer you to an appropriate person within JBWere or Insignia Financial, who will provide you with separate FSGs relating to the financial services that they may provide.

Instructing us

You can give us instructions by using the contact details set out on the last page of this FSG. Some products and services may have their own rules around how to provide instructions or execute certain transactions. Please refer to the PDS or other disclosure document for the product for these details.

Generally, you need to give us instructions in writing (e.g. fax, email or letter) or another method as agreed by us.

Payment for the services we provide

If you acquire a financial product issued by a company in the NAB Group of companies (including NAB), the relevant company, or any other NAB Group company providing services in relation to the product, may receive fees and/or commissions in relation to that product which may ultimately benefit other members of the group and any directors or other associates of those companies. Any commissions or other fees that the company in the NAB Group of companies (including NAB) receives in relation to these services will generally be disclosed in the disclosure document for the relevant product.

In addition, NAB may receive any applicable bank or transaction charges. The fees you will pay for the services we provide in connection with the financial products we offer (whether issued by NAB or third parties) are set out in the PDS or other disclosure document or terms for the particular service.

Insurance products

Any financial advice provided by NAB in the context of distribution or agency arrangements for insurance products is provided under NAB’s AFSL. NAB, or its related bodies corporate, may receive commission or other payments from insurers, when NAB is involved in the distribution of insurance products. These insurers include Allianz Australia Insurance Ltd (Allianz) and MLC Limited.

For the purposes of the amounts detailed below, ‘Base Premium’ means the amount paid by a customer to an insurer for an insurance product (other than NAB Travel Insurance) excluding Stamp Duty, GST and Fire Service Levy. For NAB Travel Insurance, Base Premium includes Stamp Duty and GST. For MLC Limited’s consumer credit insurance products, Base Premium excludes GST. Details of the amounts that may be received are as follows:


Commissions are calculated and paid monthly ranging from 10% to 33% of Base Premium for both new and renewed insurance. The actual percentage depends on the type of insurance product. These percentages may be reduced where discounts apply. In certain circumstances NAB may receive additional remuneration up to 50% of profit from Allianz based on the profitability (or a proportion of it) of the portfolio of insurance arranged through NAB, after allowing for claims and other expenses. This is calculated and paid annually.

MLC Limited

Amounts are calculated and paid monthly or quarterly. The commissions for MLC Limited’s consumer credit insurance products distributed through NAB are 20% of the first year’s Base Premium. MLC Limited may also pay an annual fee to NAB to contribute to the costs of servicing information requests regarding complaints and claims for insurance products no longer for sale.

Legacy Citi insurance product administration

NAB also performs administrative services on behalf of the insurers of various life insurance and consumer credit insurance products which were purchased from or arranged by Citi prior to 1 June 2022 (and are no longer for sale), which include:

  • sending annual reminders and other notices;
  • handling customer enquiries and complaints;
  • remitting claims payments;
  • processing policy cancellations; and
  • collecting and remitting premiums to the insurers.

NAB may be remunerated by the insurers for these administrative services.

NAB is not responsible for handling or investigating claims under any of these insurance products. In the event of a claim, you should contact the relevant insurer directly.

Personal financial product advice

If you receive personal financial advice from us, we will provide you with details of any fees, commissions and any other benefits, where possible in actual dollar amounts, in any associated Statement of Advice.

If you do not receive personal financial advice from us, we will either provide you with, or you can request, details of any fees, commissions and any other benefits in relation to any other financial service we provide to you.

If we refer you to Insignia Financial and you receive personal financial advice from Bridges Financial Services or Insignia Financial and progress with being issued a Statement of Advice, NAB will receive a referral fee of $500 (excl GST) from Insignia Financial or a related company.

Information in relation to the remuneration and any other benefits that must be disclosed in respect of JBWere or WealthHub Securities is set out in the FSGs for these businesses.

Other unrelated entities

From time to time we may provide general advice and dealing or other services in relation to financial products that are offered by unrelated entities. Any commissions or other fees that we receive in relation to these services will generally be disclosed in the disclosure document for the relevant product or in separate terms and conditions.

Remuneration or other benefits received by NAB staff members

NAB staff members are salaried employees of NAB and in most cases do not receive any proportion of any fees or commissions paid to NAB or any other company in the NAB Group in connection with the financial services or financial products referred to in this FSG. Staff members may be entitled to receive additional monetary or non-monetary benefits and/or rewards resulting from participation in programs conducted by NAB.

Monetary benefits or rewards may include variable reward, the level of which may depend on the overall performance of the NAB Group of companies. Whether staff members receive any such benefits and rewards depends on a number of balanced performance and behavioural factors, which may include a measure linked to sales of unspecified products and services provided to customers.

Non-monetary benefits or rewards for eligible staff may be provided in the form of recognition points which can be redeemed for products from a regularly updated catalogue which may include items such as film tickets, home appliances, beauty & fashion products and personal experiences. It is not possible to determine at any given time whether a staff member will receive any form of benefit or reward or to quantify them. They are not directly attributable to any particular product that the staff member has given advice on.

Referral fees

If a customer is referred to us (whether by a person or a company within or outside the NAB Group), we may pay the referrer a fee. The fee varies according to the customer, referrer and the financial products involved. The fee involved will be set out in documents you may receive in these circumstances.

We pay these fees as upfront fees when the financial service is provided or the financial product is issued, or periodically as ongoing fees.


Privacy laws apply to the handling of your personal information by us. Any personal information collected about you will be handled in accordance with our Privacy Policy available at www.nab.com.au/privacy.

Because we offer a range of services and products, collecting your personal information allows us to provide and administer you with the products and services you’ve asked for and to otherwise operate our business.

The uses we make of personal information are more specifically described in our privacy policy.

We may disclose your personal information to companies within the NAB Group, to third parties outside the NAB Group (including some located outside of Australia) and to government or regulatory bodies provided such disclosures are authorised or required by law. Please refer to our privacy policy for more detailed information about the third parties to whom we may disclose personal information and the purpose of such disclosures.

There is more information about how we collect, use, share and handle your personal information in our Privacy Policy and our Privacy Notification, including on how you may access or correct your information, the countries we may send your information to and how you may make a privacy-related enquiry or complaint.

Our Privacy Policy and Privacy Notification can be viewed on our website or you may request a copy by contacting us (our contact details are set out at the end of this FSG).

Compensation arrangements

We are regulated by the Australian Prudential Regulation Authority (APRA) and have professional indemnity insurance arrangements in place to help provide cover for claims that relate to the financial services we provide.

As an APRA regulated entity, we are exempt from the compensation requirements in the Corporations Act 2001.

What to know before lodging a complaint

We’ll always do our best to serve you and our communities well. It’s what we’re here for. However, we understand there’ll be times when you’re dissatisfied or not happy with us.

It could be our products, services, staff or even how we’ve handled your complaint. Whatever it might be, we want you to tell us about it - so we can get to the bottom of it, make changes and do better.

When is it a Complaint?

If you’d like us to respond to a problem that needs fixing, we’ll consider this a complaint. We’ll get in touch with you and try to resolve it as quickly as we can (hopefully the first time you contact us).

When is it Feedback?

If you have ideas on how we can do things better, but don’t want us to respond or resolve anything, we’ll consider this as feedback. We’ll review it, record it, and take it on board, but we won’t get in touch with you. 

How to lodge a complaint with us

You can either make a Complaint yourself or ask someone to help you do it - such as a friend, family member, support worker or carer. If you’re getting help, it’s best to lodge the complaint online or by mail (find out more in section 10 of the NAB Complaints Policy, at nab.com.au).

There are a number of ways to make contact and lodge a complaint with us;

1. Call us on one of these numbers; 

When you call us, we can arrange for an interpreter to help you (depending on availability). 

2. See us in person 

You can call us on 13 22 65 or visit our website for branch locations and opening hours, or to make an appointment.

3. Fill out a form online

You can easily fill in our Complaints, compliments and feedback form through our website or app.

Important: If you want a response from us, please select ‘make a complaint’. If you select ‘give a compliment’ or ‘give feedback’, we’ll read and consider your compliment or feedback but won’t get back to you about it.

4. NAB internet banking

Get answers anytime with NAB Messaging. Tap on the message icon in the NAB app or in NAB Internet Banking.

5. By mail

Pick up a Complaints, compliments and feedback form from any NAB branch, and return it in the envelope provided with the form. You can also send your Complaint in a letter to our NAB Resolve team at:

NAB Resolve

Reply Paid 2870

Melbourne VIC 8060

6. Chat to your Relationship Banker

If you have one, you can complain to them directly.

How we can help you make a complaint

Our job is to make this process accessible for everyone. This means we can help you if you:

  • Are deaf, hard of hearing or have a speech impairment and use the National Relay Service
  • Require interpreting and translating services (find out more about our services for customers with English as a second language)
  • Require assistance from our staff due to disability, mental illness, or a medical condition.

From here, we can make the process easier for you. For example, if you tell us that you’d prefer we only communicate with you in writing, we can do that.

To find out more about how we can help, just call us, visit one of our branches or read up on accessibility and inclusion at nab.com.au.

How long will it take to resolve your complaint?

When you make a Complaint, this is the timeline you can generally expect:

1. When we first speak with you or within one business day

We’ll let you we’ve received your Complaint and give you a reference. This might take a little longer if you got in touch by mail.

2. We’ll try to resolve it as soon as we can 

If we can, we’ll start working on a resolution right away.

3. We’ll pass it on if we can’t resolve it within five days 

We’ll send it along to a specialist team and you’ll be assigned a Case Manager.

4. We’ll then try to resolve it within 30 days 

We’ll do our best to respond within 30 days, or 21 days depending on what your Complaint is about. 

5. And if we can’t respond within 30 days? 

If your Complaint is Complex or there are circumstances outside of our control, we might not be able to respond to your complaint within 30 days, or within 21 days depending on what it’s about. In this case, we’ll write to you to explain why (also called an ‘Internal Dispute Resolution (IDR) delay notification’). We’ll tell you: 

  • The reasons for the delay
  • Your right to complain to AFCA if you’re dissatisfied 
  • The contact details for AFCA.

Making a complaint with AFCA if we can’t resolve it

If you’re not satisfied with our response to your complaint, or if we haven’t resolved it within the required timeframe, you can make a complaint to AFCA. Keep in mind there might be a time limit for contacting them, so it’s best to get in touch with them quickly or check their website for more info. 

You can contact AFCA:

On their website: https://afca.org.au, opens in new window

By email: info@afca.org.au

By phone: 1800 931 678 (free call)

In writing:

Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001

For more information visit nab.com.au

or call us on 13 22 65

Monday to Friday, 8:00am to 7:00pm (AEST/AEDT)
Saturday to Sunday, 9:00am to 6:00pm (AEST/AEDT)

or ask at your local branch

Hearing impaired customers with telephone typewriters can contact us on 13 36 77

©2023 National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686

Important information