Sometimes you may get a refund. For example, if you’ve returned a purchase to a merchant, or where you’ve successfully disputed a transaction, this refund would be from NAB. When this happens, we’ll credit your refund to your linked account at the end of the business day we receive it.
Keep in mind that refunds don’t automatically go towards paying off your active repayment plans. Your original repayment plan for the NAB Now Pay Later purchase you received the refund for remains active. Your remaining repayments will be due each fortnight unless you want to make the repayments early.
Example 1 - Purchase returned while its purchase plan is active
Sam purchases a pair of jeans for $100 on the 14th of July. He then returns this pair of jeans and receives a $100 refund credit on 22 July. We return the credit to his linked account. However, his repayment plan for the jeans is still active and has three more payments outstanding (a total of $75). Sam could use the refund he received to pay the total he owes on the repayment plan.
If this happens, let us know straight away through the chat function in the NAB app or NAB Internet Banking. Any unauthorised transactions that occur before you tell us may be your responsibility, even if these transactions are processed after you’ve told us. This may include where you contribute to the loss by keeping your digital card PIN in your electronic payment device or you unreasonably delay telling us about the event.
This is why it’s important to let us know quickly.
Once you tell us about a lost or stolen electronic payment device, we’ll block your NAB Now Pay Later account. Keep in mind you’ll still be responsible for any purchases you make.
8.2 You notice unusual transactions or want to dispute a transaction
If you notice a repayment plan that is unauthorised or doesn't seem right you can dispute the repayment plan by finding the purchase transaction in NAB Internet Banking. Use the Dispute this transaction link to report it to NAB. You can also dispute a transaction anytime through the chat function in the NAB app or NAB Internet Banking.
If you believe your electronic payment device is being used for unauthorised transactions, let us know straight away. We’ll look into it in line with our obligations in the ePayments Code.
You can ask us to block your NAB Now Pay Later account anytime through the chat function in the NAB Now Pay Later account. Learn about what happens if we block your account.
If your dispute is general (for example you believe you were charged the incorrect amount for a transaction), as long as you tell us within 75 days after the transaction date as displayed in the NAB Now Pay Later overview, we’ll use rights we have under the relevant card scheme rules to contest the transactions for you.
Remember after this, we might not be able to do so – and you could be responsible for any disputed transactions if you contribute to the loss.
You may be considered to have contributed to the loss, if you shared your digital card PIN with another person or allowed another person to use your electronic payment device, or you unreasonably delay telling us about the unauthorised transaction.
Keep in mind, you’ll need to dispute some transactions directly with the merchant as detailed below.
What transactions can you dispute?
Examples of transactions you can dispute with NAB:
- If you see a transaction in your NAB Now Pay Later overview that you believe you didn’t make.
- If you believe you were charged the incorrect amount for a transaction.
- If a transaction appears incorrectly in your NAB Now Pay Later overview.
When you’ll need to deal directly with a merchant
Some merchants or their financial institutions may not process your transaction using NAB Now Pay Later. We aren’t responsible if they choose not to.
If you’ve made a purchase transaction using your NAB Now Pay Later account, you won’t be able to stop the transaction and you will have to make the repayments. That’s because using your NAB Now Pay Later account directs us to make the payment once authorised by you, which we can’t change. If you want to reverse it, you’ll need to organise with the merchant to refund the purchase.
Once you dispute a transaction:
- If you’ve been incorrectly charged - and haven’t contributed to the loss, any repayments already charged will be credited back to your linked account and any outstanding repayments cancelled;
- If we accept the merchant’s refusal to make the refund (in line with the card scheme rules), the disputed transaction will be reinstated and you’ll need to pay all repayments when due.
We’ll action this quickly, but more complex cases can take as long as 120 days. Either way, we’ll notify you of the outcome in writing.
We’ll block your NAB Now Pay Later account:
(a) if you tell us your electronic payment device is lost or stolen, in the way described under device loss or
(b) if we suspect the electronic payment device is being used, or at risk of being used, for unauthorised or unlawful activity (including if you report this to us, in the way described under device loss and this section).
We may also block your NAB Now Pay Later account (although we’re not obliged to):
(c) if you miss a repayment by the due date; or
(d) to protect you, or us, from potentially fraudulent activity or a scam or other losses; or
(e) if any information you provide to us is not true in any material respect (or if you do not provide reasonable responses to questions that we ask about transactions or your use of the NAB Now Pay Later account); or
(f) to prevent an anticipated breach of any relevant law of Australia or any other country;
(g) to manage any risk, including our regulatory risk; or
(h) where the additional terms and conditions (such as the terms for NAB Internet Banking) allow.
It may not be possible for us to detect and prevent all transactions referred to in (d) and (f) above. We may take any action or actions under this section for as long as is reasonably required to protect NAB’s legitimate interests and to manage any risk.
Weʼll let you know as soon as practicable after we’ve placed a block on your account (and if appropriate weʼll give you a general reason for doing so).
If we block your NAB Now Pay Later account, you won’t be able to use your NAB Now Pay Later account for transactions until your NAB Now Pay Later account is unblocked. Sometimes we may only block you from making certain types of transactions for the reasons in (d) to (h) above.
In any of these cases, any transaction made before we block your NAB Now Pay Later account will still be charged to your NAB Now Pay Later account – even if it’s processed to your NAB Now Pay Later account after.
You can close your NAB Now Pay Later account by contacting us anytime through the chat function in the NAB app or NAB Internet Banking so long as:
(a) you have no outstanding repayment plans; and
(b) you pay off the total you owe.
Similarly, we may, acting reasonably, close your NAB Now Pay Later account:
(c) if youʼre in default under this agreement and we have complied with our obligations under clause 11; or
(d) if you’re in default under any other credit agreement you have with us and we need to close your NAB Now Pay Later account to protect our legitimate interest; or
(e) to protect you, or us, from potentially fraudulent activity or a scam or other losses; or
(f) to reasonably protect our legitimate interests (for example, if your account is inactive for more than 18 months)
(g) to manage any risk, including our regulatory risk.
We will usually give you 30 days' notice before we close your NAB Now Pay Later account, but we may give you shorter or no notice if it’s reasonably necessary for us to manage an immediate and material risk. If we don't give you prior notice then weʼll let you know as soon as practicable after weʼve done this (and if appropriate weʼll give you a general reason for doing so).
10.2 After your NAB Now Pay Later account is closed
If we close your NAB Now Pay Later account, you must pay us the entire total you owe, if any, by the date we notify (whether the amounts are incurred or charged before or after we cancel your NAB Now Pay Later account). Our agreement will continue after your NAB Now Pay Later account is closed and you must continue to pay us in accordance with your repayment plans until you pay us the total you owe us.
When your NAB Now Pay Later Account is closed we will also cancel your digital card, which will mean no further purchases can be made. If you have recurring payments, you’ll need to talk to the merchant to suspend or stop them. Depending on how the merchant charges your NAB Now Pay Later account, these transactions may still be processed after your NAB Now Pay Later account is closed – and you’ll still need to pay any amounts charged to your NAB Now Pay Later account. You might also be charged a fee by the merchant if they try to process a recurring payment and it isn’t successful. To avoid this, you should contact the merchant directly.
When you use your NAB Now Pay Later account, you’re using money borrowed from us. This means failing to pay your NAB Now Pay Later account can have serious consequences.
We understand that financial situations can change quickly
If you’re having trouble making your repayments, we want to work with you to find a solution.
It can feel overwhelming, but financial difficulty can be managed. The sooner you contact us, the sooner we can support you and discuss your options.
- treat every single customer fairly and individually;
- show understanding that repayments aren’t your only bills;
- be open and clear about your options; and
- work to get you to the other side in the best possible position.
If you need support, you can learn more about the options available to you directly on the NAB website, or search the NAB website for ‘Financial hardship’.
We can also refer you to a trusted partner for support with mental health, financial and elder abuse, domestic and family violence or unemployment. Find out more about additional support services directly on the NAB website, or search the NAB website for ‘support services’.
11.1 What happens if you are in default
We know it’s hard when circumstances change, and we will try and help you manage this.
However, if we can’t agree, we’ll send you a notice asking you to fix the default. We’ll send this to your address recorded on our file, so let us know if your address changes.
You’re in default if:
- you don’t make any repayment required under this agreement on time; or
- you don’t follow the requirements of this agreement, and it has a material impact on our legitimate interests; or
- any information you give to us in requesting your NAB Now Pay Later account is false or misleading and it has a material impact on our legitimate interests; or
- you become bankrupt or insolvent – or have a receiver or bankruptcy trustee appointed over you or any of your assets; or
- you transfer your assets to a creditor.
Where we give you a notice, we’ll specify a period for you to fix the default. This period will be at least 30 days from the date of the notice. The notice will specify how you may fix the default.
You should read the notice carefully and follow the instructions in the notice. We may not give notice for defaults in some circumstances (for example, where we’ve made reasonable attempts to find you but haven’t been able to).
11.2 What we may do if a default isn’t fixed
If you’re in default and you don’t fix the default within the period specified in the notice (unless we aren’t required to give you prior notice), then we may decide to do any or all of the following:
- ask that you immediately pay to us the total you owe on your NAB Now Pay Later account (including any applicable fees and charges); or
- take legal action to recover any overdue amounts; or
- set-off the balance of two or more of any type of accounts or other products held by you with NAB. This may happen when any amount remains outstanding on your NAB Now Pay Later account and another account is in credit. For example, the credit balance in one account can be used to repay the outstanding amount on your NAB Now Pay Later account. NAB will promptly inform you if it has exercised this right and NAB need not give you notice in advance. You do not have a right of set-off unless NAB has agreed. Except to the extent that you have a right of set off granted by law which cannot be excluded (for example, where a court order permits or where you have established that a payment is not due and payable), you do not have a right of set-off unless NAB has agreed.
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