Personal Banking Fees & Charges explained

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 9 December 2019

Personal Banking Fees and Charges Guide (PDF, 316KB)

We're simplifying and removing fees to create a better banking experience, view the fees we've removed so far.

Section 1 - Transaction and Savings Accounts

NAB Transaction and Savings Accounts - Fee Summary Table
Package Benefits
NAB Visa Debit Card Fees

Section 2 - Service Fees

Account Related Services
Cheques

Section 3 - Credit Card Accounts

Credit Card Annual Fees
NAB International Transaction Fee
Cash Advance Fees
Late Payment Fee

Section 4 - Loans, Overdrafts and Lending Facilities

Loans
Overdraft Facilities
Home Loans and Lines of Credit
Packages
Documentation Services

Section 5 - Other Service Fees

International Payments
NAB Foreign Currency Account
Safe Custody Services
Other Banking Services

Section 6 - Government Taxes

Goods and Services Tax (GST)

General Advice Warning

Fee updates – further reference

As part of our effort to make banking with NAB simpler and easier, we are embarking on a journey to rapidly remove fees. As we are removing fees in between publications, we are unable to keep this guide up to date. Please be informed that some of the fees contained in this guide may no longer be charged. For a complete list of fee removals, please visit www.nab.com.au/fewerfees.

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 for these products, along with the other documents detailed below:

Product	Documents that make up the Terms and Conditions for this product, along with this document
NAB Personal Transaction and Savings Products	NAB Personal Transaction and Savings Products terms and conditions Indicator Rates – Deposit Products
NAB Internet Banking	NAB Internet Banking terms and conditions
NAB Telephone Banking	NAB Telephone Banking terms and conditions
NAB Electronic Banking (card based)	NAB Electronic Banking (card based) terms and conditions
NAB Cash Manager	NAB Cash Manager terms and conditions Indicator Rates – Deposit Products

If you haven't already received a copy of each of these items for your product, please let us know.

Any questions?

If you have any questions simply visit your nearest NAB branch or phone us on 13 22 65, 7 days a week.

Transaction and Savings Accounts - Fee Summary Table

Package Benefits

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: Fees may apply to transactions at ATMs operated by other ATM networks.

NAB Visa Debit Card Fees

Per card

$10 per month, per card¹

Request to change card colour

$20 per request

¹ The first monthly fee will be charged when you request a NAB Platinum Visa Debit card and then each subsequent month thereafter.

Account Related Services

Overseas access	NAB Debit card or linked NAB Credit Card²	NAB Visa Debit card or NAB Platinum 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 (itemised separately 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 statement^{3, 5}).

Overseas operators may charge you to use their ATMs.

¹These fees will not apply to NAB FlexiPlus Mortgage accounts or NAB Portfolio Facility/NAB Private Portfolio Facility sub accounts.

²For transactions accessing linked transaction or savings accounts.

³ 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.

⁴ Includes a Visa scheme fee charged to NAB and on charged to you.

⁵ This fee will not apply to purchases made using NAB Platinum Visa Debit card.

Cheques¹	$15 per notice
No cheque no. required (e.g. periodical payment)	$5 per notice

¹ Cheques reported stolen are exempt from this fee if a copy of the police report is provided.

Less than 1 year since transaction	$2.50 per item (minimum $10)
1 year or more since transaction	$5 per item (minimum $20)

Cheques

Issue fee - per cheque²	$12¹
Replacement fee - per cheque	$20
Repurchase fee - per cheque	$20

¹ This fee will be waived for customers withdrawing $1,000 or more from their NAB Reward Saver account.

² 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).

	Customer	Non-Customer
NAB cheque	$0	$5¹
Other bank cheque	$6	N/A
Non-bank financial institution cheque cashed by member	$3	$3

¹ Fee is not charged if cheque is cashed at home branch.

Multicopy or agency credit

$5 per item

Per item	$15
Bank officer to present item	$70 per hour (minimum $35) + costs

Credit Card Annual Fees

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.

NAB Rewards Signature Card	$295 p.a.
NAB Rewards Platinum Card	$195 p.a.
NAB Rewards Classic Card	$95 p.a.
NAB Low Fee Platinum Card	$90 p.a.
NAB Low Fee Card	$30 p.a.
NAB Low Rate Platinum Card	$100 p.a.
NAB Low Rate Card	$59 p.a.
NAB Qantas Rewards Signature Card	$395 p.a.
NAB Qantas Rewards Premium Card	$250 p.a.
NAB Qantas Rewards Card	$95 p.a.
NAB Velocity Rewards Premium Card¹	$150 p.a.
NAB Velocity Rewards Card¹	$95 p.a.
NAB flybuys Rewards Card¹	$95 p.a.
NAB Visa Mini¹	$40 p.a.
NAB Qantas Plus Card¹	$145.50 p.a.
NAB Low Rate Platinum Card¹	$59 p.a.
NAB Premium Card¹	$90 p.a.
NAB Visa One¹	$30 p.a.
NAB Visa One Fee-Free¹	Nil

¹ Product not for sale.

The annual fee is waived for cards included in a NAB Tailored Home Loan Package¹, NAB Choice Package, Private Tailored Package, NAB Introductory Rate Home Loan¹, Homeowner’s Package¹, 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.

The following cards included in NAB Shareholder’s Benefit will have the credit card annual fee waived: NAB Rewards Classic Card, NAB Rewards Platinum Card, NAB Low Fee Card, NAB Low Fee Platinum Card, NAB Qantas Rewards Card, NAB Qantas Rewards Premium Card, NAB Velocity Rewards Card, NAB Velocity Rewards Premium Card and NAB flybuys Rewards Card.

¹ Not for sale.

NAB International Transaction 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:

Single-currency international transaction: where the transaction is made in Australian dollars (AUD).
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
Visa	Single-currency	3%
Visa	Multi-currency	3%

¹ 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.

Cash Advance Fees

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.

For Cash Advance transactions via NAB Internet Banking, 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, the Cash Advance fee will not be charged. The minimum Cash Advance fee will apply to any other transactions including ATM withdrawals and gambling transactions when your account is in credit balance.

Note: NAB posts purchases and cash advances in that order to your account before posting payments and refunds.

	Cash Advance amount	Minimum fee
All channels	2%	$2.50

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.

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.

Late Payment Fee

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.)

¹ NAB Visa One Fee-Free is exempt from the Late Payment Fee.

Loans

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
Fixed and Variable Rate Personal Loans	$150	$10 per month for unsecured tiered; otherwise free

Overdraft Facilities

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% (minimum $500) each whole six month period

Home Loans and Lines of Credit

The following fees and charges apply to:

NAB Home Loans
NAB FlexiPlus Mortgage
NAB Portfolio Package
NAB Private Portfolio Package

Application Fee	$600
Facility Fee (for NAB FlexiPlus Mortgage)	$250 p.a.
For loans included in a Package there is no Application Fee or Facility Fee. Application Fee includes up to two 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: loans included in a Package NAB FlexiPlus Mortgage NAB Base Variable Rate Home Loan	$8 per month
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.	Fee available on request
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

Packages	Annual Package Fee
NAB Choice Package	$395
NAB Portfolio Package	$550
NAB Private Portfolio Package	$750
NAB Private Tailored Package	$750

Documentation Services

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 name search	$40 per search (inclusive of Registrar's Fee)
Business name search	$40 per search (inclusive of Registrar's Fee)

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
TFN lodgement²	$44
Takeover acceptance³	$44
All other transactions not otherwise mentioned above or exempted⁴	$120

¹ 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.

2 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.

³ Must be notified to the Sponsor no later than two (2) business days prior to the closing date of the takeover offer.

⁴ 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.

Payable and debited when the transaction occurs or service is provided.

International Payments

Outward

Drawn on banks with currency/AUD arrangement with NAB	$30
Refund/Reissue (this charge covers the cost of placing a 'stop' where the original cheque has been lost/stolen)	$30¹
Repurchase	$20¹

¹Any overseas bank charges incurred will be charged to the customer.

International money transfer via NAB Internet Banking (in foreign currency)	$10²
International money transfer via NAB Internet Banking (in Australian dollars)	$30²
Banker assisted	$30
Requested by email or fax - email and fax written instructions will only be acted on where Email/Fax Authority is held	$35
Request for cancellation of international money transfer - any cancellation request will be subject to the agreement of the beneficiary, whether that beneficiary is the intended beneficiary or not	$20¹

¹ Any overseas bank charges incurred will be charged to the customer.

² In most cases, NAB will pay overseas bank charges on your behalf. However, in some instances beyond NAB’s control, overseas banks will directly deduct these overseas bank charges from the money you send instead.

Inward

Cheque proceeds advanced for immediate credit of funds (purchased) - cheques in foreign currency and payable overseas	$25 per item
Cheque sent for collection, credit of funds upon clearance - cheques in foreign currency or in Australian dollars payable overseas	$40¹ per item
Dishonour of overseas cheques	$30²

¹ Any overseas bank charges incurred will be charged to the customer.

² Where overseas bank charges more than one fee, all overseas fees are to be paid. Where multiple dishonours are received and all items are processed at the same time, only one NAB charge is to be levied.

Overseas parties that direct a payment to NAB may charge NAB a commission in respect of these transfers, which are included in our fee. Our fee also depends on the currency of the transfer. This fee is usually deducted from the amount paid. In some cases, the sending party may instruct NAB to charge our fee to them. Where NAB does this, NAB will not charge the payment beneficiary and may charge the sending bank a higher amount than set out below.
Transfers to NAB in Australian or overseas currency
Deposited to NAB account	Up to $15
Deposited to non-NAB account (NAB acting as intermediary)	Up to $30
Transfer of overseas currency received by NAB and transferred to another bank unconverted	Up to $35

Other

General enquiries or investigations, at a customer request, that require messaging to/from an overseas or correspondent bank

$25¹

¹ Any overseas bank charges incurred will be charged to the customer.

NAB Foreign Currency Account

Intra account transfers

$30 Banker assisted

Deposit / Withdrawal of overseas currency notes

2% of deposit/withdrawal amount (minimum $20)

Foreign currency holding fee

A fee may be charged on large balances in currencies where market conditions and interest rates are such that the bank makes a loss on the currency.

Find the relevant fee and threshold amounts over which the fee is charged.

The threshold amounts and currencies may change as market conditions change.

Safe Custody Services

Paid annually in advance, due date 31 May

$55 p.a. per packet (GST inclusive)

Paid annually in advance, due date 31 May	$100 p.a. (GST inclusive)
Up to 8,000 cubic centimetres in capacity	$100 p.a. (GST inclusive)
Over 8,000 cubic centimetres in capacity	$100 p.a. (GST inclusive)
For each additional 8,000 cubic centimetres or part thereof	Plus $100 p.a. (GST inclusive)

Paid in advance, on lodgement per item for a maximum period of 3 months.
For small secure package, box or envelope.

$30 (GST inclusive)

Available in Adelaide, Brisbane, Melbourne, Perth and Sydney. Fees for services vary depending on where the service is provided. Details of applicable fees are available upon request at the Safe Deposit Centres or phone us on 13 22 65.

Other Banking Services

Issuing fee	Available on application
Service fee/half-yearly fee	Available on application
Foreign currency bank guarantee fees	Available on application

Bank confirmation audit requests Bill holdings Comprehensive certificates supplied for audit Deeds and documents held Goods shipped	Each certificate at an hourly rate of $90 per hour (minimum $70 per certificate)
Note: Charge will apply whether documents are held as security or otherwise, and for confirmation of previous certificates.

¹This fee does not apply to any credit contract with NAB to which the National Credit Code applies.

	Customer	Non-Customer
Transfers to another NAB branch	$0	$0
Transfers to other bank	$5	$5
Plus cash handling fee	$0	1.50% (minimum $1)

Fee	$20 per advice. Free for accounts without cheque access.

Incurred when the NAB processes written instructions received via letter, email or fax to manually transfer funds to another NAB account or an account with another financial institution. Email and fax written instructions will only be acted on where an Email/Fax Authority is held.

$20 per transfer (not per letter, email or fax) plus applicable transaction fees (see Real Time Gross Settlement in Section 5).

¹ This fee does not apply to instructions such as direct debits and cheques.

Garnishee fee	$10
Garnishee fee - ongoing	$5

Fees incurred with external lawyers may be at your cost.

Charge rate for services not otherwise provided for in this guide.

$90 per hour (minimum $70)

¹ This fee does not apply to any credit contract with NAB to which the National Credit Code applies.

Fee	$35
Note: Where Real Time Gross Settlement instruction is received via letter, email or fax, funds transfer fee - email or fax request will also apply (see Section 5).

A goods and services tax or any similar tax imposed in Australia.

Goods and Services Tax (GST)

The GST Clause applies to fees and charges that are not expressed as 'GST inclusive' in this brochure. However, in the event of a change to the GST rate, NAB reserves the right to apply the GST clause to all fees in this brochure.

GST Clause

If NAB is liable to pay goods and services tax or any similar tax (GST) on a supply made in connection with a service referred to in this brochure, then the Customer agrees to pay NAB (on demand) an additional amount equal to the consideration payable for the supply, multiplied by the prevailing GST rate.

Any advice in this document has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice in this document, National Australia Bank Limited (NAB) recommends that you consider whether it is appropriate for your circumstances.

We also recommend you consider the Product Disclosure Statement or other disclosure document, available from NAB, before making any decisions regarding any of the products listed. The above products are issued by National Australia Bank Limited.

For more information call 13 22 65, 7 days a week, visit us at nab.com.au or ask at your local branch.

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

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