The what ifs: managing the everyday

What if your card’s lost or stolen? What if you need to close your account? What if you want to know more about what happens when things go wrong or your circumstances change? We’ve included information on all kinds of ‘what ifs’ right here.

 

  • Let us know straight away by calling 1800 033 103 or +61 3 8641 9121 if you are overseas. You can also let us know through NAB Internet Banking, the NAB app or at your nearest branch.

    You may be responsible for unauthorised transactions made by any person that isn’t a cardholder before you’ve told us that the card has been lost or stolen, even where those transactions are processed after you’ve told us. This may include where you contribute to the loss by keeping your PIN or password in your wallet or you unreasonably delay telling us about the event. This is why it’s important to let us know quickly. 

    Your liability for unauthorised transactions will depend on the type of transaction that was made.

    • If the transaction was made through an extra facility (for example, electronic banking or a transaction account linked to your card), the additional terms and conditions that apply to that extra facility will set out whether or not you are responsible for the unauthorised transaction; or
    • If the transaction was not made through an extra facility as explained above, your responsibility for unauthorised transactions will be limited to $150.

    Once you tell us about a lost or stolen card, we’ll block that card but other cards on your account will stay active. Keep in mind that you’ll continue to be responsible for any purchases or cash advances you or the additional cardholder make. 

     

    Remember – extra facilities and the additional terms and conditions that apply to them are described in more detail in the section titled ‘Some Additional Terms and Conditions also apply’ .

  • If you believe a card is being used for unauthorised transactions, let us know straight away by calling 1800 033 103 or +61 3 8641 9121 if you are overseas. You can also let us know through NAB Internet Banking, the NAB app or at your nearest branch.

    You can request that we place a block on the card by getting in touch with us, or in the NAB app or NAB Internet Banking. We may also decide to do so. The consequences of us doing so are described in Section 12.

    You can also dispute unauthorised transactions or any other transaction on your account that doesn’t seem right. Keep in mind, you will need to dispute some transactions directly with the merchant.

    What transactions can you dispute?

    Examples of transactions you can dispute with NAB

    • If you see a transaction on your statement that you believe you or an additional cardholder did not make
    • If you believe you were charged the incorrect amount for a transaction
    • If a transaction appears incorrectly or on your statement more than once.

    When you’ll need to deal directly with a merchant

    • If you or an additional cardholder has made a transaction on your account but wish to stop the payment. This is because using your account is a direction to us to make the payment straight away, which we can’t change. If you want to reverse it, you’ll need to agree on this with the merchant.
    • If you’ve authorised a recurring payment to be paid from your account, you’ll need to get the merchant to cancel future payments.
       

    Let us know about disputed transactions straight away

    You can visit NAB Internet Banking, the NAB app or a branch near you to do this. You can also call us on the number shown at the bottom of this page.

    As long as you tell us within 75 days after the transaction date on your receipt or statement, we’ll look into disputed transactions on your behalf. After this, we might not be able to do so – and you could be responsible for the loss on any disputed transaction.
     

    We may ask you a few questions or get some extra information from you to help with this (which may need to be in writing).

    You won’t be responsible for transactions that you didn’t make where it’s clear that you didn’t contribute to the loss. However, you may be responsible if you did contribute to the loss – for example, if you share your PIN with a friend, or you unreasonably delay telling us about the unauthorised transaction.

    If the transaction was made through an extra facility (for example, electronic banking or a transaction account linked to your card), the additional terms and conditions that apply to that extra facility will set out whether or not you are responsible for the disputed transaction. These may also set out different timeframes for notifying us of the disputed transaction, but it’s important that you tell us as soon as possible and not later than 75 days.

     

    Remember – extra facilities and the additional terms and conditions that apply to them are described in more detail in the section titled 'Some Additional Terms and Conditions also apply'.

     

    Once you dispute a transaction, we’ll either: 

    • credit the relevant amount back into your account if we find you’ve been incorrectly charged – and haven’t contributed to the loss (an example of where you may contribute to the loss is if you tell someone your PIN or password); or
    • accept the merchant’s refusal to make the refund if this is allowed under the relevant card scheme rules.

    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.

    While we’re looking into the transaction, you’re responsible for all other purchases and cash advances made on your account. 

  • On occasion, you may receive a refund or credit into your account from us or a merchant. For example, this could be for goods or services you’ve purchased and then returned or where you have successfully disputed a transaction. There may also be situations where we need to refund a fee or charge to you, for example where an error or adjustment has been made.

    9.1  How we’ll refund your account

    How we apply a refund is different to how we apply payments.

    When you get a refund, we’ll apply it to your account to reduce your outstanding balance. A refund is not treated as a payment by you. This means you must still pay us the total minimum payment shown in your most recent statement by the due date, regardless of the value of any refund on your account. The only exception to this is where the refund is processed before the due date shown in your statement and reduces the outstanding balance on the due date below the total minimum payment. If this occurs, you must pay us the reduced outstanding balance on the due date.

    9.2  What if your refund is equal to, or more than, your outstanding balance?

    We’ll apply it to your account in full, so that you’ll have a zero or deposit balance. If you have a deposit balance, it will be applied to pay any amount charged to your account as soon as that amount is charged. We won’t pay interest on any deposit balance. 

    9.3  What if your refund is less than your outstanding balance?

    How we apply it to your account will depend on the type of transaction, which we’ve outlined below. This may mean that your refund isn’t applied against the specific transaction to which it relates.

    Refund process based on transaction type 

    Refund is of a purchase transaction

    1. Reduce purchase transactions that haven’t appeared on a statement.
    2. Reduce purchase transactions that have appeared on a statement.
    3. Reduce interest charges that appear on a statement that relate to a purchase transaction and other fees and charges that appear on a statement (other than fees and charges relating to a cash advance).
    4. Reduce interest charges that relate to a purchase transaction that haven’t appeared on a statement and other fees and charges that haven’t appeared on a statement (other than fees and charges relating to a cash advance).
    5. Reduce any other amount owing on your account.

    Refund is of a cash advance

    1. Reduce cash advances that haven’t appeared on a statement.
    2. Reduce cash advances that have appeared on a statement. 
    3. Reduce interest charges and other fees and charges that appear on a statement that relate to a cash advance
    4. Reduce interest charges and other fees and charges which relate to a cash advance that haven’t appeared on a statement. 
    5. Reduce any other amount owing on your account.

    Refund is of interest charges, fees or other charges in connection with a cash advance

    1. Reduce interest charges and other fees and charges that. appear on a statement that relate to a cash advance
    2. Reduce cash advances that have appeared on a statement. 
    3. Reduce cash advances that haven’t appeared on a statement.
    4. Reduce interest charges and other fees and charges which relate to a cash advance that haven’t appeared on a statement. 
    5. Reduce any other amount owing on your account.

    Refund is of any other amount

    1. Reduce interest charges that appear on a statement that relate to a purchase transaction and other fees and charges that appear on a statement (other than fees and charges relating to a cash advance).
    2. Reduce purchase transactions that have appeared on a statement.
    3. Reduce purchase transactions that haven’t appeared on a statement.
    4. Reduce interest charges that relate to a purchase transaction that haven’t appeared on a statement and other fees and charges that haven’t appeared on a statement (other than fees and charges relating to a cash advance).
    5. Reduce any other amount owing on your account.
  • 10.1 How you may reduce your credit limit

    You may reduce your credit limit at any time. You can decide to do so for any reason, including if you consider that your existing credit limit is no longer appropriate for your needs – or is more than you can manage without financial difficulty.

    You can reduce your credit limit online in NAB Internet Banking or the NAB app, or by calling us on the number shown at the bottom of this page.

    Keep in mind you’ll first need to pay us any amount that’s owing above the new limit you’ve asked for.

    You won’t be able to reduce your credit limit below the minimum credit limit that applies for your card. You can find the minimum credit limit for each type of card on How to manage your credit card’s credit limit

    10.2  Increasing your credit limit

    We’ll only ever increase your credit limit if you ask us to do so. We will consider your request and may, or may not, agree to your request. If we do not agree to your request, we will let you know in writing as soon as practicable after deciding this.

    10.3 When we might reduce your credit or cash advance limit without your permission

    There are some cases where we might reduce either of these without your permission, including:

    • if you’ve defaulted on our agreement; or
    • where we have good reason to believe that your existing credit limit is more than you can manage without financial difficulty; or 
    • where your account is inactive. 

    Where we reduce your credit or cash advance limit to avoid or reduce material losses, or manage a material and immediate risk (which may include the circumstances described in paragraphs 1 and 2 above), we may not give you notice (or we may give you less than 30 days’ notice).

    Where we do not give you notice in advance, we will let you know in writing as soon as practicable after doing this (unless you are in default under our agreement). In other circumstances, we will give you 30 days’ notice in writing.  

    Once we have reduced your credit limit, we may decline any transactions that would cause your outstanding balance to go back over the new limit. You’re welcome to close your account if you’re not happy with the reduced credit limit. See Section 13.

  • 11.1  Adding a cardholder

    If you ask us to, we may issue a card to another person aged 16 or over at no additional cost. This person is known as an additional cardholder – and the card issued to them is known as an additional card.

    It’s your responsibility to have the additional cardholder sign their additional card as soon as they’ve received it. Make sure they also read and understand this document, and any other terms and conditions that may apply (for example, the Electronic Banking (card based) terms and conditions (PDF, 300KB), opens in new window.

    Your additional cardholder may operate your account in the same ways you can, including making purchases or obtaining cash advances, making payments on your account and accessing financial information about your account or any information relating to transactions made by you or an additional cardholder on your account. This will also mean the additional cardholder will be able to access any other accounts you’ve linked to your card (such as a transaction account).

    You’re responsible for the additional cardholder’s use of your account, which means paying any amounts this adds to your account.

    11.2  Removing a cardholder

    You can cancel an additional card and remove an additional cardholder’s authority to operate your account, at any time. Just contact us using one of the ways shown at the bottom of this page to do so.

    We will confirm with you that the additional cardholder’s authority has been revoked. From that time, you won’t be responsible for use of the additional card. This doesn’t apply for any transactions the additional cardholder made before this, even if they’re processed and added to your account after. In this case, you’re still responsible for those transactions.

    You must destroy the additional card (by cutting it and the chip diagonally in half) while taking reasonable steps to prevent the card number and expiry date from being used.

  • 12.1  When we might block a card or an account

    We will block the use of a card:

    a. if you tell us that your card is lost or stolen, in the way described in Section 7 ; or

    b. if we have reason to suspect that the card is being used for unauthorised or unlawful activity (including if you report this to us, in the way described in Section 8).

    We may also block the use of a card or your account:

    c. if you’re in default under this agreement; or

    d. if you’re in default under any other credit agreement you have with us and it is necessary for us to block the use of a card or your account to protect our legitimate interest; or

    e. to protect you, or us, from fraud or other losses; or

    f. to manage our regulatory risk, which is only likely to be necessary in exceptional circumstances.

    We will let you know as soon as practicable after we have done this (and if appropriate we will give you a general reason for doing so). 

    If we place a block on:

    g. a card, you or the other cardholder will not be able to use that card to transact on your account until the block is removed; and 

    h. an account, no cardholder will be able to use any card to transact on your account until the block is removed. 

    In any of these cases, any transaction made before we block your card or account will still be charged to your account, even if it’s processed and added to your account after.

    12.2  Recurring payments

    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 account, these transactions may still be processed. You’ll still need to pay any amounts charged to your account (including associated fees and interest). You might also be charged a fee by the merchant if they attempt to process a recurring payment and it isn’t successful. To avoid this, you should contact the merchant directly.

  • 13.1  Closing your account

    You can close your account (and cancel all cards) at any time by:

    a. calling us on the number shown at the bottom of this page under ‘Call Us’, by contacting us on NAB Internet Banking or by visiting us at any NAB Branch; and

    b. paying the whole of the outstanding balance of your account (including any applicable fees and charges plus any applicable interest which you have incurred but which is not yet charged to your account) or, if you have a deposit balance, requesting that those amounts be paid to you.

    Similarly, we may close your account (and cancel all cards) at any time without notice: 

    c. if you’re in default under this agreement; or

    d. if you’re in default under any other credit agreement you have with us and it is necessary for us to close your account to protect our legitimate interest; or

    e. to protect you, or us, from fraud or other losses; or

    f. to manage our regulatory risk, which is only likely to be necessary in exceptional circumstances.

    We will let you know as soon as practicable after we have done this (and if appropriate we will give you a general reason for doing so).

    We will let you know as soon as practicable after we have done this (and if appropriate we will give you a general reason for doing so).

    We may also do this for another reason reasonably necessary to protect our legitimate interests (for example, if your account is inactive) and provide you with 30 days’ notice.

    13.2  After your account is closed

    Your card and all additional cards will be cancelled and can’t be used after your account is closed. You’ll need to destroy your card and all additional cards (by cutting the card and the chip diagonally in half), while taking reasonable steps to prevent the card number and expiry date of your card or any additional card from being used.

    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 account, these transactions may still be processed after your account is closed – and you’ll still need to pay any amounts charged to your account (including associated fees and interest). You might also be charged a fee by the merchant if they attempt to process a recurring payment and it isn’t successful. To avoid this, you should contact the merchant directly.

    If we close your account, you must pay us the entire outstanding balance by the date we notify to you (whether the amounts are incurred or charged before or after we close your account). If you have a deposit balance on your final statement of account, you can ask us to transfer this to a nominated bank account for you.

    Our agreement will continue after your account is closed until you pay us the outstanding balance in full or, if you have a deposit balance, until those amounts are paid to you.

  • When you use your credit card, you’re borrowing money from us unless your account has a deposit balance. This means defaulting on your credit card can have serious consequences.

    If you are experiencing financial difficulty and think you may not be able to make repayments, we can help. We encourage you to contact us as soon as possible. We will discuss your situation and the options available to help you. The sooner you contact us, the sooner we can try to help.

    You’re in default if:

    a. you don’t make the payments required under this agreement on time; or

    b. you or an additional cardholder don’t follow the requirements of this agreement; or

    c. any information you give to us in applying for your account is false or misleading and it has a material impact on our legitimate interests; or

    d. you become bankrupt or insolvent – or have a receiver or bankruptcy trustee appointed over you or any of your assets; or

    e. you transfer your assets to a creditor.

    What happens if you are in default?

    We know sometimes circumstances change, and we will try and help you manage this. However, if we can’t agree, then we’ll send you a notice asking you to fix the default, unless we’re not required to do so by consumer credit law (for example, if we’ve made reasonable attempts to find you, but haven’t been able to).
     

    Where we give you a notice, we’ll specify a period for you to fix the default. This period will be at least 31 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.

     

    What we may do if a default isn’t fixed?

    If you’re in default and:

    a. you don’t fix the default within the period specified in the notice, or 

    b. consumer credit law doesn’t require us to wait until that period has expired; or 

    c. we don’t have to give you notice,

    then we may decide to do either (or both) of the following:

    d. ask that you immediately pay to us the outstanding balance of your account (including any applicable fees and charges plus any applicable interest which has been incurred but not yet charged to your account) and destroy your cards.; or

     e. take legal action to recover any overdue amounts.

    If you’re in default, you’ll also need to pay us any expenses reasonably incurred or expended by us to enforce this agreement – including any expenses reasonably incurred through our staff and facilities.

  • We may change any of the terms of our agreement without creating a new agreement. We’ll tell you about these changes by communicating with you as described in Section 6, except in some scenarios where we may not be required to notify you. The list below outlines the different types of changes we may make and tells you if you will be notified and when.

    You’re free to close your account if you’re not happy with any changes we make. You can do this by following the procedure in Section 13.

    Type of changes to the terms of agreement
    Type of change When you'll be notified
    Increasing your annual interest rate No later than the day on which the change takes effect
    Other interest changes (manner in which interest is calculated or charged including changing or removing an interest free period), except reducing your annual interest rate at least 30 days
    before the change takes effect
    Changes to total minimum payment (amount or frequency or time for payment of, or a change in method of calculation of, total minimum payment), except reducing your total minimum payment or extending the time to make a total minimum payment At least 20 days
    before the change takes effect
    Change that reduces your credit limit At least 30 days before the change takes effect, unless we are allowed to provide less notice or no notice (in which case, we will let you know as soon as practicable after reducing the credit limit unless you are in default under our agreement)
    Introducing a new fee or charge, or increasing an existing fee or charge, or changes to the frequency or time for payment of a fee or charge At least 30 days
    before the change takes effect
    Change any other term of this agreement At least 30 days
    before the change takes effect
    Change to manage a material and immediate risk if it’s reasonable for us to do so; or there is a new or changed government charge in connection with this agreement If we do need to notify you, we may give you a shorter notice period than the period described elsewhere in this table (for example, reasonably promptly after the government notifies us of the new or changed government charge)
    If we reduce your obligations (with the exception of reducing your credit limit, which is described above). For example, if we extend the time to make a total minimum payment, reduce the annual percentage rate or total minimum payment If we do need to notify you, we will do this before, or when your next statement is sent after the change takes effect

Managing your credit card and resolving issues

Managing your credit card and resolving issues

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