NAB has a proud track record in making banking fairer for all Australians. Our approach to fees and charges is based on the following guiding principles:
- Value - fair fees and charges that deliver competitive value to our customers.
- Choice and Access - products and services that provide flexibility and choice in how and when customers bank with us.
- Simplicity and Transparency - simpler and fewer fees that are well understood by our customers and bankers.
Personal banking fees
Effective 21 November 2016
- Transaction and Savings Accounts
- Package Benefits
- NAB Visa Debit Card Fees
- Service Fees
- Credit Card Accounts
- Loans, Overdrafts and Other Lending Facilities
- Other Service Fees
- International Payments
- International Drafts/Cheques Outward
- Telegraphic Transfers Outward (sent overseas)
- Enquiries regarding payment (International Drafts/Cheques and Telegraphic Transfers)
- Cancellation of telegraphic transfers
- International Drafts/Cheques Inward (received)
- Dishonour of overseas cheques
- International Transfers Inward (received)
- Travel Money
- Travellers Cheques (Cashed)
- Foreign Currency Accounts
- Safe Custody Services
- Other Banking Services
- Transaction Charges
- Credit transfers
- Funds Transfer Fee - Facsimile Request
- Encashment/Negotiation Advices
- Bank Guarantee (also known as Guarantee by Bank)
- Coin Swap Machine Exchange Fee
- Lodgement of cheques
- Miscellaneous services
- Teletransfers (in Aust.)
A guide to fees and charges - personal banking fees
What's in this guide?
This guide covers the fees that may apply for a range of our personal accounts and services. It only applies to NAB branded products and services unless we have specifically advised you otherwise. You can use this guide to identify which fees may apply to you and ways you may reduce or avoid these fees.
- Section 1 details the fee structure for NAB Transaction and Savings accounts and NAB Visa Debit card.
- Section 2 details the fee structure for service fees.
- Sections 3-6 cover the remaining fees which could apply to your account including fees relating to loans and lending, and government taxes and charges. We pass on government charges and taxes to customers at the time they are payable. These taxes may change at any time.
There is a separate fees and charges guide for business banking products.
How this guide fits with other documents
This document forms part of the terms and conditions or Product Disclosure Statement for these products, along with the other documents detailed below:
|Product||Documents that make up the Terms and Conditions or Product Disclosure Statement for this product, along with this document|
|NAB Personal Transaction and Savings Products||
|NAB Internet Banking||
|NAB Telephone Banking||
|NAB Electronic Banking (card based)||
|NAB Cash Manager||
If you haven't already received a copy of each of these items for your product, please let us know.
If you have any questions simply visit your nearest NAB branch or phone us on 13 22 65 from 8am-7pm Mon-Fri, or 9am-6pm on weekends (AEST/AEDT) .
NAB Private Tailored Package: NAB Gold Banking accounts that form part of this package are exempt from monthly account service fees.
NAB Portfolio Facility/NAB Private Portfolio Facility: A Portfolio/Private Portfolio Facility and linked sub accounts are exempt from service and transaction fees.
Non-NAB ATM: You may be charged by the ATM owner where you use an ATM in Australia that doesn't belong to NAB or the rediATM network.
|NAB Visa Debit card and NAB Gold Visa Debit card Annual Fees1||NAB Classic Banking, NAB Retirement Account, NAB eBanking2||NAB Gold Banking - Private|
|NAB Visa Debit card - first two cards||$0 per card||$0 per card|
|NAB Visa Debit card - per additional card||$10 per card||$10 per card|
|NAB Gold Visa Debit card - first two cards||$20 per card||$0 per card|
|NAB Gold Visa Debit card - per additional card||$20 per card||$20 per card|
NAB Visa Debit card and NAB Gold Visa Debit card - other fees
|Lost/Stolen Card Replacement Fee||$20 per card issued in Australia. $100 per card issued overseas. Where second or subsequent replacement card issued in a calendar year.|
|Request to change card colour||$20 per request (applicable to NAB Visa Debit card only)|
- The first annual fee will be charged when you request a NAB Visa Debit card or NAB Gold Visa Debit card and then annually in the same month thereafter.
- Product no longer for sale.
|Overseas Access||NAB Debit card or Linked NAB Credit Card2||NAB Visa Debit Card|
|ATM Cash withdrawal1||$5 per withdrawal4||$5 per withdrawal4|
|Balance enquiry1||$1 per enquiry4||$1 per enquiry4|
|Foreign currency transaction fee1||3% of Australian dollar transaction amount for cash withdrawals made in currencies other than Australian dollars. Included in the Australian dollar transaction amount shown on your statement3.||3% of Australian dollar transaction amount for cash withdrawals or purchases made in currencies other than Australian dollars (itemised separately on your statement3).|
Overseas operators may charge you to use their ATMs
- These fees will not apply to NAB Gold Banking – Private accounts, NAB Flexiplus Mortgage accounts or NAB Portfolio Facility/NAB Private Portfolio Facility sub accounts.
- For transactions accessing linked transaction or savings accounts.
- Includes a Visa scheme fee charged to NAB and on charged to you. This fee is a percentage of the converted AUD amount shown on your statement.
- Includes a Visa scheme fee charged to NAB and on charged to you
|Additional original statement1 Original statement sent by fax - first page - each additional page||$4 per statement $4 $2|
|Repeat statement1 (reprint if lost, etc.) Repeat statement by fax - first page, an extra - each additional page, an extra||$7 per statement $4 $2|
|Note: Accessing Smart Statements online||$0|
|Detail on specific entries||$2 per entry (min $4)|
|List of transactions since last statement/list of last 8 transactions||No fee|
- Fee does not apply to statements for home loans (including NAB FlexiPlus Mortgage and NAB Portfolio Facility/NAB Private Portfolio Facility).
|Less than 1 year since transaction||$2.50 per item (min $10.00)|
|1 year or more since transaction||$5.00 per item (min $20.00)|
|Account Balance Alert||$Nil|
|Credit card payment reminder||$Nil|
|Funds Transfer Alert||$Nil|
|To NAB Home Loan or NAB Personal Loan1||Free|
|To NAB Leasing facilities taken after 1 September, 1997||Free|
|To NAB Reward Saver||Free|
|To other accounts at same or other NAB branch||$1.80|
|To account at another bank||$5.30|
|Payments by bank/international cheque||$5.00 + cost of cheque|
|Periodical Payment not made due to lack of funds||No Fee|
- Periodical payments are not available for Personal Project Loans.
|Cheques1||$15 per notice|
|No Cheque No. Required (e.g. periodical payment)||$5 per notice|
- Cheques reported stolen are exempt from this fee if a copy of the police report is provided.
|Issue fee - per cheque2||$121|
|Replacement fee - per cheque||$25|
|Repurchase fee - per cheque||$20|
- This fee will be waived for customers withdrawing $1,000 or more from their NAB Rewards Saver Account.
- Fee does not apply where funds for the Bank cheque are drawn from a personal loan or home loan (including NAB FlexiPlus Mortgage and NAB Portfolio Facility/NAB Private Portfolio Facility).
|Other bank cheque||$6||n/a|
|Non Bank Financial Institution cheque cashed by member||$3||$3|
- Fee is not charged if cheque is cashed at home branch.
|Credit Listing - pad of 75 in duplicate||$5|
|Credit Listing - pad of 50 in triplicate||$5|
|Credit List/Summary slip - covers||$5|
|Duplicate Large Deposit (CD) book of 50 in duplicate||$5|
|Credit Summary - pad of 150||$0|
|Bank officer to present item||$70 per hr (min $35) + costs|
Accounts opened prior to 1 December 2000 will be charged an annual fee in January each year. Accounts opened from 1 December 2000 will be charged the first annual fee when you accept the credit card agreement and then annually in the same month thereafter.
Credit Card Annual Fees
NAB Low Rate Card
NAB Low Fee Card
NAB Premium Card
NAB Velocity Rewards Card
NAB Velocity Rewards Premium Card
NAB Qantas Rewards Card
NAB Low Rate Platinum Card (Visa) available from 5 Dec 2016
|NAB Qantas Rewards Premium Card||$250.00 pa|
NAB flybuys Rewards Card
NAB Visa One Fee-Free*
NAB Visa Mini*
NAB Qantas Plus Card*
NAB Low Rate Platinum Card (Visa and MasterCard)*
* Product not for sale.
® American Express is a registered trademark of American Express. NAB American Express Cards are issued by NAB pursuant to a licence from American Express.
® MasterCard and the MasterCard Brand Mark are trademarks of MasterCard.
The annual fee is waived for cards included in a NAB Tailored Home Loan Package,1 NAB Choice Package, Private Tailored Package, NAB Introductory Rate Home Loan,1 Homeowner’s Package,1 Portfolio Package and Private Portfolio Package for the life of the Package.
When a package is cancelled/ terminated, the annual card fee will be debited after the Package ends and then annually in the same month thereafter.
If the credit card accounts are part of a NAB Homeplus Home Loan arrangement, the annual card fees are not charged during the life of a Homeplus Home Loan.
When the Homeplus Home Loan ends, the annual card fee will be debited then and then annually in the same month thereafter.
Cards included in NAB Shareholder’s Package1 will have the Credit Card annual fee waived for the next annual fee period, if net purchases on the relevant account during an annual fee period exceed $4,000 on NAB Low Fee Card and NAB Velocity Rewards Card accounts and $7,500 on NAB Premium Card, NAB Qantas Plus Card and NAB Velocity Rewards Premium Card accounts. The following Cards included in NAB Shareholder’s Package will have the Credit Card annual fee waived: NAB Qantas Rewards, NAB Qantas Rewards Premium and NAB flybuys Rewards Card.
* Not for sale.
The following fee applies to all credit card accounts, unless otherwise indicated.
The following fee will be debited on provision of service.
|Repeat Statement Fee||$7 per statement|
NAB Visa One Fee-Free is exempt from Repeat Statement Fee.
The following NAB International Transaction Fees apply to all credit card accounts, except NAB Visa One Fee-Free.
International transactions are transactions where the merchant, financial institution, or entity processing the transaction is located outside Australia. These transactions are either:
- a Single Currency International Transaction: where the transaction is made in Australian dollars (AUD); or
- a Multi Currency International Transaction: where the transaction is made in a currency other than Australian dollars (AUD).
|Card Scheme||Transaction Type||NAB International Transaction Fee1|
|American Express||Single Currency||3.00%|
- The NAB International Transaction Fee includes a fee charged by the Card Scheme to NAB (and on charged by NAB to you), calculated on the converted AUD amount shown on your statement(excluding American Express Multi Currency).
- American Express Multi-Currency transactions are also subject to an American Express Currency Conversion Factor of 1.00% of any USD transaction amount or any USD equivalent amount for transactions made in non-USD. This Factor is included in the converted AUD amount shown on your statement.
The following cash advance fees apply to all credit card accounts, except NAB Visa One Fee-Free.
For Cash Advances you will be charged a percentage of the Cash Advance (in Australian dollars) or the minimum fee, whichever is the greater.
However, if after NAB posts the Cash Advance transaction and any other purchases or payments for that processing day, the balance of the account is in credit or zero, the cash advance fee will not be charged.
Note: NAB posts purchases and cash advances in that order to your account before posting payments and refunds.
|Cash Advance amount||Minimum fee|
Note: In the case of cash advances made in currencies other than Australian dollars, the cash advance amount used to calculate the cash advance fee is the Australian dollar amount posted to your NAB Credit Card account. American Express cards are not accepted at non-NAB branches, Travelex or Australia Post (bank@Post) outlets. You may be charged by the ATM owner where you make a cash advance using an ATM in Australia that doesn’t belong to NAB or the rediATM network.
Debited monthly (if applicable)
|Late Payment Fee1||
$15 (Debited on or after the day when an amount that is due for payment is not paid on or before its due date if, at the time the fee is debited, the balance of the account is $50 or more.)
- NAB Visa One Fee-Free is exempt from the Late Payment Fee.
We will advise you in writing of any agreed borrowing facility which will cover the interest rate, how and when it is charged, and what fees are payable. Fees typically include an Application Fee and a Loan Service Fee.
Changes to interest rates are advised by press advertisements and appear on your loan account statement. Details of current rates can be obtained from your branch.
Application fees are non refundable upon acceptance of loan or lending facility. If the facility is declined by NAB or not accepted by you, the application fee will be refunded.
|Application Fee||Loan Service Fee||Default Fee|
|Fixed and Variable Rate Personal Loans||$150||$10 per month for unsecured tiered; otherwise free||$35, to be paid to us each time we issue to you a notification for failing to pay or repay any amount you have to pay us|
|Tertiary Student Package Deferred Repayment Loan (product no longer for sale)||N/A||N/A||$35, to be paid to us each time we issue to you a notification for failing to pay or repay any amount you have to pay us|
Personal Project Loans (product no longer for sale)
|Monthly Service Fee First debited on the closing date of the last statement period during the access period, and then monthly on the closing date of each statement period thereafter||$7|
|Repeat Statement Fee||$7 per statement|
Late Payment Fee
|Late Payment Fee||$5 (Debited on or after the day when an amount that is due for payment is not paid on or before its due date if, at the time the fee is debited, the balance of the account is $50 or more.)|
The following fees and charges apply to:
- NAB Home Loans (except Homeplus Home Loans, Peak Performance Equity Mortgage Loans and Fixed Rate (Interest Only) Mortgage Loans).
- NAB FlexiPlus Mortgage
- NAB Portfolio Package
- NAB Private Portfolio Package
Facility Fee (for NAB FlexiPlus Mortgage)
For loans included in a Package there is no Application Fee or Facility Fee. Application Fee includes up to 2 home loan applications, provided they are applied for at the same time and are over the same security.
Loan Service Fee
There are no Loan Service Fees for:
|$8 per month|
Rate Lock allows customers applying for a fixed rate home loan to lock their fixed interest rate for up to 90 days.
|Fee available on request|
Progressive Drawdown Fee (applies to construction loans only)
|$60 per payment|
Economic Costs for fixed rate loans
Economic costs for fixed rate loans are NAB's reasonable estimate of our loss (if any) from the prepayment of a fixed rate loan. Economic costs may be payable if you prepay more than $20,000 or close the loan during a fixed rate period or, end your fixed rate period early.
The following fees and charges apply to:
• NAB Homeplus Home Loans
• NAB Peak Performance Equity Mortgages
• NAB Fixed Rate (Interest Only) Mortgages
Application Fee - New customer
Application Fee - Existing customer (new loan)
The application fee includes multiple home loan applications, provided they are applied for at the same time and are over the same security. The new customer fee applies where the customer does not currently have a NAB Homeplus Home Loan, NAB Peak Performance Equity Mortgage Facility or NAB Fixed Rate (Interest Only) Mortgage Loan.
Loan Service Fee
There are no Loan Service Fees for:
· NAB Peak Performance Equity Mortgage
· NAB Fixed Rate (Interest Only) Mortgage
$10 per month
(for NAB Peak Performance Equity Mortgage only)
$70 per half year
The variation fee is payable each time you request us to increase your facility, change or discharge the security.
Note: a Legal Service Fee may also be payable for the preparation of security documentation and attending settlement where applicable.
Rate Lock Fee
Rate Lock allows customers applying for a fixed rate home loan to lock their fixed interest rate for up to 90 days
0.15% of the approved facility limit rounded to the nearest $10. Minimum $50.
Progressive Drawdown fee
(only applies to construction loans)
|$60 Per drawing. Payable when you request a progressive drawdown of the facility limit after the first drawing.|
External Valuation Fee
|Payable when we require our external valuers to conduct a valuation of the security property (eg. properties over $2.5 million). Fee varies depending on our external valuer’s quote and will be described in the contract.|
Legal Service Fee
• preparing loan and/or security
• attending settlement*
*NOTE: Legal Service Fee is debited at settlement and does not include legal fees for work performed by the Bank’s internal legal department which are set out in the brochure titled ‘Legal Fees & Charges for NAB Legal’
Economic costs for fixed rate loans
Economic costs for fixed rate loans are NAB’s reasonable estimate of our loss (if any) from the prepayment of a fixed rate loan. Economic costs may be payable if you prepay more than $20,000 or close the loan during a fixed rate period or, end your fixed rate period early.
|Packages||Annual Package Fee|
|NAB Choice Package||$395|
|NAB Portfolio Package||$550|
|NAB Private Portfolio Package||$750|
|NAB Private Tailored Package||$750|
|Mortgage Discharge Fee Includes preparation of discharge, attending settlement and lodgement of documents where applicable.||$350|
|Production of Documents To permit registration by other parties||$150|
|Where carried out by bank staff||$40 + Registrar's Fee|
|Where conducted by search firm||$35 + costs|
|Company Search||$40 per search (inclusive of Registrar's Fee)|
|Business Name Search||$40 per search (inclusive of Registrar's Fee)|
Charges where Uncertificated Shares Provided as Security Under CHESS (Clearing House Electronic Sub-Register System). All fees are GST inclusive
Establishment of Sponsorship and Holder Identification Number (HIN), upon lodgement of a single line of shares into the Mortgagor's HIN
|Securities valued1 at up to $500,000||$120|
|Securities valued above $500,000||$120 for the first $500,000 plus $33 for every $100,000 (or part thereof) above $500,000|
|Additional lines of security lodged at establishment||$44 irrespective of value|
|Statement of holdings||$33|
|Statement of transactions||$33|
|All other transactions not otherwise mentioned above or exempted4||$120|
- Security valuation is the last price quoted at the close of trading on the day before the instruction to establish the holding being issued to the Sponsor, multiplied by the number of shares held.
- Must be lodged with the Sponsor no later than two (2) business days prior to the 'ex' date for any distribution of income or capital from the company.
- Must be notified to the Sponsor no later than two (2) business days prior to the closing date of the takeover offer.
- Includes the addition or removal of shares to the Mortgagor's HIN, but excludes the initial receipt of one or more lines of shares at the establishment of the facility and any holding altered by a corporate action, i.e. bonus, rights and Dividend Reinvestment Plan issues.
Legal fees for work performed by the Bank's internal legal department. Please refer to the brochure titled 'Legal Fees and Charges for NAB legal', available on request, for a comprehensive list of legal fees and charges applicable to lending transactions and enforcement matters where legal work is performed by NAB's internal legal department.
The following fees and charges apply to:
- Consumer Overdrafts
- Personal Investment Overdrafts
|Up to $40,000||$0|
|$40,001 - $60,000||$600|
|$60,001 - $80,000||$725|
|$80,001 - $125,000||$1,000|
|$125,001 - $150,000||$1,250|
|$150,001 - $250,000||$1,800|
|Fee is based on approved overdraft limit and is debited to account on the first business day of March and the first business day of September.|
|Up to $5,000||$35 each whole six month period|
|$5,001 - $10,000||$70 each whole six month period|
|$10,001 - $20,000||$80 each whole six month period|
|$20,001 - $30,000||$140 each whole six month period|
|$30,001 - $40,000||$190 each whole six month period|
|$40,001 - $60,000||$290 each whole six month period|
|$60,001 - $80,000||$400 each whole six month period|
|$80,001 - $125,000||$500 each whole six month period|
|Over $125,000||0.40% (min $500) each whole six month period|
Payable and debited when the transaction occurs or service is provided.