International Payment using Refinance FAQs

From the 27th of September 2021 you’ll need to provide supporting documents if you use the Refinance option for international payments. Read more.

What’s changing?

We’re changing the documentation requirements for customers asking us to create a Trade Loan to support the settlement of an international payment via NAB Connect, bankers or payment operations.

This change in process is specific to those customers.  If you’re not selecting the Refinance option on the payment request form on your international payment, then there is no change to your current process.

It will be mandatory to provide this information when requesting a Refinance of an international payment from the 27th September 2021. 

NAB Connect will not allow an international payment request to be submitted or approved without an attachment.

If the information attached does not appear to relate to the international payment details, the payment will not be processed, and the status of the payment will change to Rejected.

Details of these changes

From the 27th September, 2021:

  • If you select the Refinance option when initiating an international payment on NAB Connect, you’ll need to upload supporting documents relating to your international payment before you can proceed.
  • If you submit an international payment via your banker or payment operations that includes a Refinance request, you’ll need to include the supporting documentation as a PDF in your email or fax request for the request to be processed. 
  • Payment cut-off times will also be changed for international payments that include Refinance as the settlement option.

Why we’re making the change

We’re committed to protecting our customers and the community from financial crime. This additional information helps us adhere to our obligations both legally and to our community.  We’re enhancing our controls to ensure that trade finance transactions are not being used for illegal activities within and outside of Australia. 

What you need to provide

From the 27th September 2021, if you’re submitting an international payment request via NAB Connect and selecting the Refinance option for settlement of the payment, you’ll need to provide an invoice and, in some instances, the related shipping/transport documents.

It’s important that the invoice you provide includes: 

  • your business name and address 
  • your supplier’s or buyer’s name and address
  • the Port of Loading (if applicable)
  • the Port of Discharge (if applicable)
  • details of the type of goods/services sold, the value of the goods/services, and the payment terms agreed.

If your invoice doesn’t reference the Port of Loading and Port of Discharge, and this information does exist, then you need to attach the appropriate shipping document that shows this information (e.g. Bill of Lading).

Acceptable invoice types

While a commercial invoice is the most common form of invoice, here are some other invoice type examples that are acceptable:

  • Proforma Invoices
  • Interim Invoices
  • Recipient Created Tax Invoices.  

Any of these variations are acceptable.

Regardless of the format, it’s important that the invoice you provide us includes: 

  • your business name and address
  • your supplier’s name and address
  • the Port of Loading
  • the Port of Discharge
  • details of the type of goods/services sold, the value of the goods/services, and the payment terms agreed.

Documentation for deposits and other advance payments

If the payment relates to a deposit or other type of advance payment prior to the shipment of the goods or services, you may have a different type of document. This might include a Purchase Order or Proforma Invoice that details the advance amount you are required to pay.  

These documents will be acceptable, providing the document evidences the advance payment details and the information outlined in the previous list where available at the time. 

Recipient Created Tax Invoices (RCTI) are also commonly used in some industries and these are also acceptable if they contain the information required in an invoice as outlined above.   

Supported attachment types and sizes

NAB Connect will support the following attachment types: 

  • PDF
  • JPG
  • BMP
  • PNG
  • TIFF
  • DOC
  • DOCX
  • XLS
  • XLSX.

NAB Connect will support an attachment up to 7 MB.  Any files larger than 7 MB should be separated into multiple smaller files. Up to 10 individual files, each up to 7 MB, can be attached.

Requests submitted via NAB Trade Finance Online (TFO)

If you use NAB Trade Finance Online to submit your request, you’ll need to include the additional commercial invoices and/or related shipping documents, if the transaction is a cross border one. These can be attached via the existing attachment function.  We will be communicating with you later in 2021 to provide more information about when this will become mandatory.

Changes to international payment cut-off times

The cut-off times for international payments that have a Refinance request will be one hour earlier than the times published for international payments. The details of the new cut off times can be found below:

International - Refinance


Melbourne/Sydney Time

Australian Dollars

2:45 PM

Bahraini Dinars

2:00 PM

Bangladesh Taka

2:00 PM

Canadian Dollars

4:00 PM

CFP Francs

10:00 AM next day

Chinese Renminbi

3:00 PM

Czech Koruna

2:00 PM

Danish Kroner

4:00 PM


4:00 PM

Fijian Dollars

10:00 AM

Hong Kong Dollars

4:00 PM

Hungarian Forint

4:00 PM

Indian Rupees

2:00 PM

Israeli Shekel

2:00 PM

Indonesian Rupiah

10:00 AM

Japanese Yen

11:00 AM

Jordanian Dinars

2:00 PM

Kenyan Shillings

4:00 PM

Kuwaiti Dinars

2:00 PM

Mexican Peso

4:00 PM

Norwegian Kroner

4:00 PM

New Zealand Dollars

12:00 PM

Omani Rial

2:00 PM

Pakistani Rupees

2:00 PM

Papua New Guinea Kina

11:00 aM

Philippine Pesos

10:00 AM

Polish Zloty

4:00 PM

Samoa Tala 9:00 AM

Saudi Arabian Riyals

2:00 PM

Singapore Dollars

11:00 AM

Solomon Islands Dollars

10:00 AM

South African Rand

4:00 PM

Sri Lankan Rupees

2:00 PM

Swedish Kronor

4:00 PM

Swiss Francs

4:00 PM

Thai Bahts

10:00 AM

United Arab Emirates Dirhams

2:00 PM

United Kingdom Pound Sterling

4:00 PM

United States Dollars

4:00 PM

Vanavatu Vatu

10:00 AM

How to track your payment status

Use our quick reference guide to learn how to easily track your payment status in NAB Connect.

Track your international payment status guide (PDF, 1.15MB)

Making payments to domestic suppliers via NAB Connect

A copy of the Invoice will be required. The invoice you provide will need to include the following information:

  • Your business name and address.
  • Your supplier’s or buyer’s name and address.
  • Details of the type of goods/services sold, the value of the goods/services, and the payment terms agreed.

If this is a domestic transaction (i.e. goods transferred within Australia) then there is no need to provide Port of Loading and Port of Discharge details.

Any questions?

If you have questions this document hasn’t been able to answer, please contact your Trade & Working Capital Specialist or email us at

Read our guide to creating a Refinance international payment (PDF,568KB), including uploading related documents for more information.