Personal banking fees and charges

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 10 June 2017

Personal Banking Fees and Charges Guide (PDF, 355KB)

Addendum for personal banking - banking fees (PDF, 245KB)

Contents

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
  • Statement of account
  • Transaction verification
  • NAB Alerts
  • Periodical payments
  • Stop payment request
  • Cheques
  • Bank Cheques
  • Cashing of cheques
  • Deposit Books
  • Special clearance of cheques

Section 3

• Credit Card Accounts
  • Credit Card Annual Fees
  • Credit Cards - Other Fees
  • NAB International Transaction Fee
  • Cash Advance Fees
  • Late Payment and Overlimit Fees. Debited monthly (if applicable)

Section 4

• Loans, Overdrafts and Other Lending Facilities
  • Loans
  • Personal Loans
  • Personal Project Loans – Other Fees
  • Home Loans and Lines of Credit
  • Packages
  • Documentation Services
  • Document Preparation & Production
  • Search Fee (Titles Office)
  • Company/Business Name Searches
  • Legal Fees
  • Overdraft Facilities
  • Overdraft Line Fee (formerly Overdraft Service Fee)

Section 5

• 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.)

Section 6

• Government Taxes
  • Goods and Services Tax (GST)
• General Advice Warning

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:

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 from 8am-7pm Mon-Fri, or 9am-6pm on weekends (AEST/AEDT) .

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Section 1

Transaction and Savings Accounts - Fee Summary Table

Package Benefits

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.

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NAB Visa Debit Card Fees

NAB Visa Debit card and NAB Gold Visa Debit card - other fees

1. 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.
2. Product no longer for sale.

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Section 2 -

Service Fees

Account Related Services

Overseas operators may charge you to use their ATMs

1. 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.
2. For 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

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Statement of account

1. Fee does not apply to statements for home loans (including NAB FlexiPlus Mortgage and NAB Portfolio Facility/NAB Private Portfolio Facility).

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Transaction verification

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NAB Alerts

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Periodical payments

1. Periodical payments are not available for Personal Project Loans.

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Stop payment request

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

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CHEQUES

Bank cheques

1. This fee will be waived for customers withdrawing $1,000 or more from their NAB Rewards 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).

Cashing of cheques

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

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Deposit Books

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Special clearance of cheques

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Section 3 -

Credit Card Accounts

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

* 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,¹Homeowner’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.

1. Not for sale.

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Credit Cards - Other Fees

The following fee applies to all credit card accounts, unless otherwise indicated.

The following fee will be debited on provision of service.

NAB Visa One Fee-Free is exempt from Repeat Statement Fee.

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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:

• 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).

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(excluding American Express Multi Currency).
2. 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.

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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.

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.

Channel

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.

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Late Payment Fee

Debited monthly (if applicable)

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

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SECTION 4 -

Loans, Overdrafts and other lending facilities

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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.

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Personal Loans

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Personal Project Loans (product no longer for sale)

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Personal Project Loans - Other Fees (product no longer for sale)
Debited on provision of service

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Late Payment Fee

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Home Loans & Lines of Credit

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

The following fees and charges apply to:

• NAB Homeplus Home Loans (product withdrawn from sale effective 11/03/2017)

• NAB Peak Performance Equity Mortgages (product withdrawn from sale effective 11/03/2017)

• NAB Fixed Rate (Interest Only) Mortgages (product withdrawn from sale effective 23/05/2014)

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.

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Packages

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Documentation Services

Document Preparation & Production

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Search Fee (Titles Office)

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Company/Business Name Searches

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

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.

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Legal Fees

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.

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Overdraft Facilities

The following fees and charges apply to:

• Consumer Overdrafts
• Personal Investment Overdrafts

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Overdraft Line Fee (formerly Overdraft Service Fee)

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.

SECTION 5 -
OTHER SERVICE FEES

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

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INTERNATIONAL PAYMENTS

International Drafts/Cheques Outward

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International Money Transfer (sent overseas)

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Enquiries regarding payment (International Drafts/Cheques and International Money Transfers)

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Cancellation of International Money transfers

• Any overseas bank charges incurred will be charged to the customer

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International Drafts/Cheques Inward (received)

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Dishonour of overseas cheques

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

1. In section 5 means existing NAB account holder.

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International Transfers Inward (received)

Overseas parties that direct a payment to NAB may charge 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.

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Travel Money

Travellers Cheques (Cashed)

Foreign Currency Accounts

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SAFE CUSTODY SERVICES

Custody Charges

1. Existing first packet lodged on or before 1 January 1995 is $Nil until further notice.

*GST inclusive

OTHER BANKING SERVICES

Bank certificates

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Garnishee fee

Transaction Charges

Transactional legal fees will apply where, as a condition of NAB providing a loan, taking a security, consenting to an amendment to a loan or security or providing banking accommodation, legal work is required to be done by NAB's internal legal department. The legal fee will be disclosed to you by your banker before any legal work is commenced.

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Credit transfers

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Funds Transfer Fee² - Facsimile Request

1. This fee does not apply to any credit contract with NAB to which the National Credit Code applies.
2. This fee does not apply to instructions such as Periodical Payments, Direct Debits and Cheques.

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Encashment/Negotiation Advices

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Bank Guarantee (also known as Guarantee by Bank)

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Coin Swap Machine Exchange Fee

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Lodgement of cheques

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Miscellaneous services¹

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

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Teletransfers (in Aust.)

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Section 6

Government Taxes

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

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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.

General Advice Warning

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 on page 3. The above products are issued by National Australia Bank Limited.

For more information call 13 22 65 from 8am-7pm Mon-Fri, or 9am-6pm on weekends (AEST/AEDT).

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

©2017 National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 00095A0417