Terms and Conditions
Effective 12 November 2018
Download Personal Transaction and Savings Products Terms and Conditions (PDF, 642KB).
Download Personal Transaction and Savings Products Terms and Conditions Offsale (PDF, 558KB).
Effective 12 November 2018
Download Personal Transaction and Savings Products Terms and Conditions (PDF, 642KB).
Download Personal Transaction and Savings Products Terms and Conditions Offsale (PDF, 558KB).
You can contact us by:
If your card and/or card details are lost or stolen and/or your PIN is compromised or divulged you must immediately notify NAB and provide any information about how the loss / incident occurred by calling one of the following numbers, or using any other means NAB makes available to you.
In addition to the above number, NAB Visa Debit cardholders can also call +1 303 967 1090 (call reverse charges 24 hours a day).
If you believe there has been an unauthorised transaction on your account, please notify NAB by calling 13 BANK (13 22 65) and select the option to speak to a Customer Service Representative.
You may change your PIN as frequently as you wish. You can do this at selected NAB Automatic Teller Machines ('ATMs'), or for NAB Visa Debit cards by logging into NAB Internet Banking or the latest version of the NAB app. Refer to clause 34.5 of Part D of this booklet for further guidance on PIN selection. For a complete list of ATM locations, please contact NAB by:
To report an ATM breakdown or malfunction, or alternatively to query a current ATM (such as a card not returned by an ATM or incorrect cash disbursement), please contact NAB by:
Note: As part of NAB's security procedures, transactions conducted at ATMs may be photographed.
The Financial Claims Scheme provides a guarantee of funds deposited with an authorised deposit-taking institution (ADI) such as NAB. In the event that an ADI becomes insolvent, customers may be eligible to claim the amount of their deposits with that ADI from the Scheme. Payments under the Scheme are subject to a limit for each depositor. For more information regarding the Scheme, visit the Financial Claims Scheme website.
This booklet contains the terms and conditions for:
together with the following:
These terms and conditions govern the operation of NAB's personal transaction and savings accounts (listed in the Product Comparison Table) including use of an eligible account with NAB's Visa Debit card and accessing NAB's Electronic Banking (Debit cards) service and NAB Internet Banking and NAB Telephone Banking service.
It is important that you read and understand the terms and conditions set out in this booklet that apply to your account, card or service. They set out a number of obligations which you need to be aware of including, for example, under clause 7.3 you must promptly check your account statements and report to NAB any transactions recorded which you suspect you did not authorise or the details of which may be incorrect. Also to note is that under clause 10 if you overdraw an account or are overdue in making a payment to NAB, we may elect to use any of your available credit funds to correct the position and then inform you that we have done so.
This booklet, the fees guide and indicator rates flyer are available from NAB at any time. If you have not already received copies of each item please contact NAB. You can also get information about our indicator rates for deposit products in the page headed ‘Indicator Rates – Deposit Products’ set out in our website at nab.com.au
Any advice in this booklet has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice, NAB recommends that you consider whether it is appropriate for your circumstances.
National Australia Bank Limited ABN 12 004 044 937, Australian Financial Services Licence 230686 is the issuer of each financial product included in this booklet.
Interest earned on a NAB Personal Transaction or Savings account may form part of your assessable income.
NAB is authorised to collect your Tax File Number (TFN) under the Income Tax Assessment Act 1936. NAB will use your TFN to report details of interest earned on your Personal Transaction and Savings account to the Australian Taxation Office. It is not compulsory to provide your TFN and it is not an offence if you decline to do so.
If you do not provide your Tax File Number (TFN), Australian Business Number (ABN) or advise that you are eligible for an exemption from providing a TFN or ABN, NAB may be obliged to deduct Pay as You Go Withholding Tax at the maximum marginal tax rate (plus the Medicare levy) from any interest income you earn on your NAB Personal Transaction or Savings account. If you are a non-resident of Australia, NAB may also be obliged to deduct Pay as You Go Withholding Tax.
Words defined throughout this booklet have the meaning set out in the Definitions and Interpretation section towards the end of this booklet.
1. Only available to customers with an eligible NAB transaction account as specified in clause 2.4 of the terms and conditions in Part A
2. Transactions only available to and from an eligible NAB account. Refer to clause 2.4 of these terms and conditions.
2A. Available to customers with NAB Internet Banking who have provided relevant electronic contact details.
3. Refer to Part C – NAB Visa Debit card terms and conditions.
3A. Refer to Part A clause 3.3 for information about use of a NAB Debit card overseas.
4. For a fixed rate sub account, an advance (up to the sub account limit) may be made (at one time) but no other drawing on the account can be made during the fixed rate period.
5. Only deposits can be made during a fixed rate period. Economic costs may be payable. See your credit contract.
6. N/A during a fixed rate period.
7. If a fixed rate sub account is included in an offset arrangement, you won't benefit from the offset until the account has a variable interest rate.
8. NPP Payments and PayID features are expected to be available early 2018.
The following terms and conditions (in addition to those terms and conditions in Part B of this booklet) apply to the accounts listed below, unless specific terms and conditions apply to your account.
NAB Classic Banking, NAB Retirement Account, NAB FlexiPlus Mortgage Account and NAB Portfolio/NAB Private Portfolio Sub Accounts.
1.1 You may deposit any amount and you may withdraw up to the available credit funds from your account, or if your account has an overdraft facility, up to the approved overdraft limit subject to clause 1.8(b).
1.2 NAB may refuse to process a withdrawal if your account has no overdraft facility and has insufficient credit funds available to satisfy the withdrawal.
1.3 Proceeds of any cheque or other item deposited in your account will usually not be available until the cheque or other item is cleared. If we make the proceeds of a cheque or other item available prior to the cheque or other item being cleared and the cheque or other item subsequently fails to clear, we will debit the corresponding amount from your account.
1.4 There is no minimum account balance which must be maintained.
1.5 Subject to clause 1.10, you may withdraw from your account at any of NAB's branches, subject to you providing suitable identification. You may arrange to access your account through NAB Internet Banking and NAB Telephone Banking or similar electronic service provided by NAB. (For a NAB Portfolio/NAB Private Portfolio fixed rate sub account, you can only use NAB Internet Banking or NAB Telephone Banking to make deposits during the fixed rate period.) Such access will be governed by NAB's standard terms and conditions for the service.
1.6 NAB may, upon request, provide a cheque book to access your account. This is not available for NAB Portfolio/NAB Private Portfolio fixed rate sub accounts.
1.7 If you specifically apply for, and NAB agrees to give you, an overdraft facility with your account, the overdraft facility will be subject to NAB's standard terms and conditions for the facility which will be provided to you at the time. Additionally, NAB may at its discretion, allow you to overdraw your account:
In both these situations, you may be charged default interest in accordance with clause 5.
The following specific terms and conditions apply to accounts that NAB establishes in your name to enable you to use a line of credit under:
1.8 (a) Subject to (b) you may deposit any amount and you may withdraw up to the available credit funds or up to the approved limit for your line of credit facility.
(b) If you have a fixed rate sub account under a NAB Portfolio Facility/NAB Private Portfolio Facility:
(i) NAB may, at your request, provide an advance (at one time) through the account which is equal to or less than the sub account limit for the account but you cannot otherwise draw on the account during the fixed rate period; and
(ii) economic costs may be payable under your credit contract if you deposit more than your contracted payments into your fixed rate sub account. However, NAB will waive economic costs payable in relation to the first $20,000 (cumulative) which is prepaid (as a partial payment) during a fixed rate period. See your credit contract.
1.9 Each line of credit facility described above will be subject to NAB's standard terms and conditions for the facility which will be provided to you at the time. Additionally, NAB may at its discretion, allow you to overdraw your account to any amount permitted by NAB from time to time, beyond the amount of your approved limit. Clause 5 applies to any amount overdrawn.
1.10 When your line of credit facility that is operated through the account(s) is cancelled and all monies have been repaid, the account(s) will be closed or changed into a NAB transaction account(s) acceptable by NAB, as directed by you.
1.11 NAB will generally send you statements of account at least six monthly, unless you request otherwise.
However
- If a NAB Visa Debit card is linked to your account, a statement will be sent to you bi-monthly, unless you request otherwise.
- NAB FlexiPlus Mortgage and NAB Portfolio Facility/NAB Private Portfolio Facility accountholders will be sent statements of account for each account monthly unless you request otherwise.
1.12 Statements of account will be sent to you by post, electronically or in any other way permitted by law or otherwise agreed.
1.13 Notwithstanding the above, we may choose not to send you a statement of account where the law does not require us to send it to you.
1.13A Amounts on your statement of account will be expressed in Australian dollars.
Some accounts are only available to eligible customers.
1.14 In the case of joint accounts, at least one accountholder must satisfy the eligibility criteria. NAB FlexiPlus Mortgage and NAB Portfolio Facility/NAB Private Portfolio Facility accounts requires all account holders to satisfy their respective eligibility criteria.
1.15 You must be:
The following terms and conditions (in addition to those terms and conditions in Part B of this booklet) apply to the accounts listed below, unless specific terms and conditions apply to your account.
2.1 You may deposit any amount and you may withdraw up to the available credit funds from your NAB account. Proceeds of any cheque or other item deposited in your account will usually not be available until the cheque or other item is cleared. If we make the proceeds of a cheque or other item available prior to the cheque or other item being cleared and the cheque or other item subsequently fails to clear, we will debit the corresponding amount from your account.
2.2 There is no minimum account balance which must be maintained.
2.3 You may withdraw from your account at any of NAB's branches, subject to you providing suitable identification. You may arrange to access your account through NAB Internet Banking and NAB Telephone Banking or similar electronic service provided by NAB. Such access will be governed by NAB's standard terms and conditions for the service.
2.4 When you apply to open a NAB iSaver account you must have and maintain a NAB personal transaction account while your NAB iSaver account remains open (each such NAB account "the eligible NAB account").
2.5 Your NAB iSaver account must be used in conjunction with your eligible NAB account. The eligible NAB account will be governed by the standard terms and conditions applicable to that particular account.
2.6 You may have more than one NAB iSaver account. Each NAB iSaver account can be used in connection with one or more eligible NAB account(s).
2.7 There is no minimum deposit required to open the NAB iSaver account.
2.8 There is no minimum account balance that must be maintained.
2.9 You must arrange to access your NAB iSaver account and your statement of account for your NAB iSaver through NAB Internet Banking or NAB Telephone Banking or similar electronic service provided by NAB. NAB's standard terms and conditions for these services will apply.
2.10 The initial deposit to your NAB iSaver account can be made at a NAB branch, or via NAB Internet Banking or NAB Telephone Banking with funds from your eligible NAB account using the funds transfer option. The proceeds of any cheque or other item deposited into your NAB iSaver account will not be available until the cheque or other item has been cleared.
2.11 After the initial deposit, other deposits to your NAB iSaver account can only be made by transferring funds from your eligible NAB account. This can be done by using the funds transfer option in NAB Internet Banking or NAB Telephone Banking. You must not at any time make cash or cheque deposits at NAB branches or agencies or through ATMs.
2.12 You may arrange for regular deposits to be made to your NAB iSaver account from your eligible NAB account by setting up a periodic payment instruction through NAB Internet Banking or NAB Telephone Banking. Periodic payments will be governed by NAB's standard terms and conditions relating to the service.
2.13 You may request to set up a balance transfer facility from your eligible NAB account to your NAB iSaver account. NAB may accept or reject your request at its discretion. The balance transfer facility will enable automatic funds transfer from your eligible NAB account to your NAB iSaver account at intervals you have specified when the balance of your eligible NAB account reaches a limit you have specified. You may not transfer amounts from your NAB iSaver account using the balance transfer facility. To request a balance transfer facility please visit your nearest NAB branch.
2.14 You may deposit salary, dividend distributions and other regular deposits direct to your NAB iSaver account by direct credit or by periodic payment from another NAB or non-NAB account.
2.15 You are not able to set up direct debits or periodic payments from your NAB iSaver account to another NAB or non-NAB account.
2.16 You may only withdraw up to the available credit funds from your NAB iSaver account and must not allow that account to have a debit balance. If NAB at its discretion, allows a withdrawal which overdraws your NAB iSaver account then until you put the account in credit you may be charged default interest in accordance with clause 5.
2.17 Withdrawals can only be made from your NAB iSaver account by transferring funds to your eligible NAB account through NAB Internet Banking or NAB Telephone Banking.
2.18 Withdrawals cannot be made via ATM or EFTPOS or at any NAB branch. In addition, transfers via NAB Internet Banking or NAB Telephone Banking cannot be made from your NAB iSaver account to any credit card or loan account and you cannot pay bills from your NAB iSaver account using BPAY®.
2.19 You can close your iSaver account at a NAB Branch or in any other way we allow from time to time. You are not required to close your linked eligible NAB account when you close your NAB iSaver account. However, according to clause 2.4, should you wish to close your linked eligible NAB account you must first close your NAB iSaver.
2.20 NAB will send you statements of account for the NAB Reward Saver account at least every three months and at least six monthly for the NAB iSaver account, unless you request otherwise.
Statements of account will be sent to you:
- for a NAB iSaver account applied for prior to 12 May 2017 and for the NAB Reward Saver, by post electronically or in any other way permitted by law or otherwise agreed.
- for a NAB iSaver account applied for on or after 12 May 2017, electronically only.
Notwithstanding the above, we may choose not to send you a statement of account where the law does not require us to send it to you.
®Registered to BPAY Ltd ABN 69 079 137 518
2.21 Accountholders under 18 years of age may be required to have a parent/guardian or other adult sign the application form to open a NAB Reward Saver account and provide suitable identification for themselves and you.
The following terms and conditions also apply to the accounts referred to in this Part A, unless specific terms and conditions apply to your account.
3.1 Interest is calculated and paid in accordance with the terms and conditions set out in clause 4 of this booklet.
3.2 For information on the electronic access options available refer to the Product Comparison Table.
3.3 NAB may debit your account with account fees and other standard service fees, the amount and nature of which are detailed in NAB's brochure 'A Guide to Fees and Charges – Personal Banking Fees', available from NAB at any time.
When a NAB Visa Debit card is used overseas to make a transaction in a foreign currency the way amounts are converted and the way the NAB Foreign Currency Transaction Fee is charged is described in Part C, clause 23.
When a NAB Debit card is used overseas at an ATM (Automatic Teller Machine) to withdraw foreign currency, amounts are converted and the Foreign Currency Transaction Fee is charged in the same way as described in Part C, clause 23.
3.4 There are no account service fees or transaction fees applicable to the NAB iSaver account. However other standard service fees may apply to the NAB iSaver account and account service fees and other standard service fees may apply to your eligible NAB account, the amount and nature of which are detailed in NAB's brochure 'A Guide to Fees and Charges – Personal Banking Fees', available from NAB at any time.
3.5 NAB may debit your account with government charges, duties and taxes relating to your account. For further information refer to NAB's brochure 'A Guide to Fees and Charges – Personal Banking Fees', available from NAB at any time.
4.1 Where interest is payable by NAB, it is calculated on the daily credit balance of your account, as at the end of each day (AEST/AEDT) up to and including the day before the last banking day of each period as set out in the table below. If applicable NAB will credit the interest to your account the next banking day. Excluded from the daily credit balance of your account (where applicable) are any outstanding authorisations which are not posted to your NAB Visa Debit account as at the end of each day.
When determining the end of day balance on your account for the purpose of calculating interest, transactions which occur on non-banking days (eg. NPP Payments made or received on a non-banking day) are treated as having been made on the next banking day and will be recorded on your statement as having occurred on that next banking day. So, your end of day balance for a non-banking day will be the same as the end of day balance for the preceding banking day.
Interest Paid Monthly | Interest Paid Quarterly | |
NAB Classic Banking | ![]() |
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NAB Retirement Account | ![]() |
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NAB Reward Saver | ![]() |
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NAB iSaver | ![]() |
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NAB FlexiPlus Mortgage Account | ![]() |
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NAB Portfolio Facility sub account | ![]() |
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NAB Private Portfolio Facility sub account | ![]() |
* Quarterly interest is paid at the end of March, June, September and December.
Different rates may apply to different levels of your account balance (rates may also fluctuate). These levels of account balance and the rates applicable to them are notified to you at the time you open your account. Rates are detailed in NAB's flyer 'Indicator Rates – For Deposit Products' and in the page headed ‘Indicator Rates – Deposit Products’ set out at nab.com.au This rate information forms part of these terms and conditions.
For NAB Retirement Account a separate rate may be applicable to each tier of the credit balance of your account (for which rates may fluctuate).
4.2 Subject to clauses 4.3 and 6, NAB may also pay bonus interest calculated on the daily credit balance of your account as at the end of each day up to and including the day before the last banking day of each month and if applicable will credit the interest to your account the next banking day.
4.3 NAB may pay bonus interest on your account when you make at least one deposit to your account in the month and no withdrawals in the month. Any bonus interest paid is in addition to the base interest earned on your account.
4.4 To determine whether bonus interest is payable:
If you make any withdrawals in a month you will not earn bonus interest on your account.
4.5 If you close your account or vary the account type before the end of the month, your account will not receive any bonus interest for the month.
5.1 If your account is overdrawn without an approved overdraft limit (or beyond the amount of any approved overdraft limit), you must put the account in credit (or within the amount of the limit) within seven days.
5.1A You must monitor your account to ensure that it does not become overdrawn. You can check your balance at any time at www.nab.com.au or by using telephone banking. We may, in our absolute discretion, authorise a transaction that overdraws your account. If you do not rectify an overdrawn account within seven days, and the overdrawn account persists for 60 or more days, we may report that to a credit reporting body in accordance with the Privacy Act 1988. This may affect your ability to obtain credit in the future.
5.2 You will pay NAB interest4 at the default rate applicable to personal accounts on the overdrawn amount and for the period of time your account remains overdrawn. The default rate is set out in NAB's flyer 'Indicator Rates – Deposit Products' and in the page headed ‘Indicator Rates – Deposit Products’ set out at nab.com.au You will be notified of any change to the default rate. It is also available from NAB.
5.3 Interest is calculated on the daily debit balance of your account as at the end of each day (AEST/AEDT) (up to and including the day before the last banking day of each month) and will be charged to your account on the last banking day of each month. When determining the end of day balance on your account for the purpose of calculating interest, transactions which occur on non-banking days (eg. NPP Payments made or received on a non-banking day) are treated as having been made on the next banking day and will be recorded on your statement as having occurred on that next banking day. So, your end of day balance for a non-banking day will be the same as the end of day balance for the preceding banking day.
5.4 Default interest will not be payable where there is a NAB FlexiPlus Mortgage limit or NAB Portfolio Facility/NAB Private Portfolio Facility Limit or any other approved NAB overdraft facility limit which is operated through the account.
6.1 You may apply to NAB to participate in the NAB 100% Offset arrangement. NAB may accept or reject your application at its discretion.
6.2 The NAB 100% Offset arrangement is only available on certain deposit and loan accounts specified by NAB. Unless NAB otherwise agrees, only one loan and one deposit account can be linked to the NAB 100% Offset arrangement.
6.3 An offset arrangement may not link a loan account with a deposit account which includes a name or names other than the name(s) in which the loan account is held.
6.4 While you have an offset arrangement, the following relevant terms override the provisions relating to the calculation and payment of interest applying to:
6.5 While you have an offset arrangement, any linked deposit account will not earn any interest even if the credit balance of your account exceeds, or if there is more than one linked deposit account, the total credit balances of those accounts exceed, the unpaid balance of your linked loan account.
6.6 You or NAB may end the offset arrangement by giving seven days' notice to the other. However, if you default under your linked loan account, NAB may end the offset arrangement immediately by giving you a notice to this effect.
6.7 It is your responsibility to monitor the credit balance of the linked deposit account, or if there is more than one linked deposit account, the total credit balances of those accounts, as against the unpaid balance of your linked loan account to achieve the best results for you under the offset arrangement.
6.8 The daily interest charges which would otherwise be payable on a day under your linked loan account will be calculated by deducting the credit balance of the linked deposit account from the unpaid balance of your linked loan account at the end of the day (AEST/AEDT) and then applying the daily rate (being the annual percentage rate divided by 365) to the result.
When determining the end of day balance on your account for the purpose of calculating interest, transactions which occur on non-banking days (eg. NPP Payments made or received on a non-banking day) are treated as having been made on the next banking day and will be recorded on your statement as having occurred on that next banking day. So, your end of day balance for a non-banking day will be the same as the end of day balance for the preceding banking day.
6.9 If the credit balance of the linked deposit account exceeds the unpaid balance of your linked loan account at the end of a day, no interest will be charged under the loan for that day.
6.10 NAB offers the NAB Portfolio Facility 100% Offset arrangement for certain types of accounts if you have a NAB Portfolio Facility or a NAB Private Portfolio Facility (the 'credit contract'). NAB may accept or reject your application to participate in the offset arrangement at its discretion. Contact NAB to find out whether the arrangement is available and to request to participate in it.
6.11 If you wish to apply to enter into a NAB Portfolio Facility 100% Offset arrangement, you must nominate one account, and may nominate up to 10 accounts, with credit balances including sub accounts under the credit contract with credit balances ('credit balance accounts') to be linked to one or more nominated sub accounts with an unpaid balance under the credit contract ('nominated loan account'). This is provided that:
(a) a variable interest rate applies to the nominated loan account;
(b) the accountholder of the credit balance account is the accountholder of the nominated loan account but, for the avoidance of doubt, an offset arrangement may not link a nominated load account with any credit balance account which includes a name or names other than the name in which the nominated loan account is held;
(c) a credit balance account may only be linked to one nominated loan account at a time; and
(d) each nominated loan account and its linked credit balance accounts together constitute an 'offset arrangement'.
6.12 While you have a NAB Portfolio Facility 100% Offset arrangement, the following terms and conditions override the provisions relating to the calculation and payment of:
(a) interest on any credit balance account under an offset arrangement (except while it has an unpaid balance); and
(b) interest charges on the unpaid balance of any nominated loan account, except if the credit contract contains specific provisions relating to the calculation of interest while you have an offset arrangement. If the exception applies, then those specific provisions, in addition to others, apply in respect of your nominated loan account while you have an offset arrangement.
6.13 NAB calculates the daily interest charges on the unpaid balance of a nominated loan account under a NAB Portfolio Facility 100% Offset arrangement by:
(a) deducting the credit balance of the credit balance account, or total credit balance if there is more than one credit balance account, from the unpaid balance of the nominated loan account; and
(b) applying the daily interest rate (being the interest rate divided by 365) to the result.
If the total of the credit balance of the credit balance account exceeds the balance owing on the nominated loan account, then no interest charges are payable for that day.
When determining the end of day balance on your account for the purpose of calculating interest, transactions which occur on non-banking days (eg. NPP Payments made or received on a non-banking day) are treated as having been made on the next banking day and will be recorded on your statement as having occurred on that next banking day. So, your end of day balance for a non-banking day will be the same as the end of day balance for the preceding banking day.
6.14 While you have any NAB Portfolio 100% Offset arrangement, any credit balance account under the offset arrangement will not earn interest even if the credit balance of that account exceeds, or if there is more than one such account, the total credit balances of those accounts exceeds, the unpaid balance of the nominated loan account under that offset arrangement.
6.15 If NAB agrees to your request to participate in a NAB Portfolio Facility 100% Offset arrangement, then:
(a) you may request to vary your participation in an arrangement at any time; and
(b) you or NAB may cancel your participation by giving 7 days' notice to the other.
6.16 If you default under the credit contract, NAB may cancel your participation immediately on giving you notice. Any NAB Portfolio Facility 100% Offset arrangement:
(a) may be terminated if you terminate the credit contract; and
(b) is immediately terminated if the credit contract is cancelled.
6.17 It is your responsibility to monitor the credit balance account as against the unpaid balance of your nominated load account to achieve the best results of the offset arrangement for you.
7.1 Cheques
NAB provides cheque access to certain accounts. These accounts are listed in the Product Comparison Table. If you have cheque access to an account, the following terms and conditions apply:
7.1.1 General provisions
7.1.2 Stopping payment on a cheque
7.1.3 Dishonouring cheques
Your cheque may (at NAB's discretion) be returned unpaid or 'dishonoured' in certain circumstances, such as where:
7.1.4 Crossing Cheques
7.1.5 'Not Negotiable' cheques
The words 'not negotiable' between two parallel lines across the face of a cheque mean that, where the cheque is transferred, the person who obtains the cheque has no greater rights than the person who transferred it to him or her.
For example, your cheque might be stolen and then passed on by the thief to another person. That person might then obtain payment of the cheque. In this case, if the cheque was crossed and marked 'not negotiable', the person from whom the cheque is stolen might recover the amount of the cheque from the person who obtains payment of the cheque, even though the person who has obtained payment may not have done anything wrong.
7.1.6 'Account payee only' cheques
7.1.7 'Or bearer' or 'order' cheques
7.1.8 Unauthorised alteration of your cheques
7.1.9 When is a cheque 'cleared'?
7.1.10 Special clearance
You can arrange for a cheque to be cleared in less than the usual time by requesting a special clearance. Special Clearance fees are detailed in NAB's brochure 'A Guide to Fees and Charges – Personal Banking Fees'.
7.1.11 Third Party cheques
If you present a cheque which is payable to someone else or it appears to belong to someone else (third party cheque), NAB may, in its discretion, refuse to accept that cheque for deposit or refuse to cash it or may require you to comply with some conditions before it will accept that cheque for deposit or cash it.
7.1.12 Bank cheques
Bank cheques are cheques instructing payment from the bank itself rather than from a customer's account. They are designed to provide an alternative to carrying large amounts of cash when a personal cheque is not acceptable.
Bank cheques are usually requested because of the higher likelihood that they will be paid. However bank cheques should not be regarded as equivalent to cash.
Bank cheques can be purchased by NAB and non-NAB customers and a fee is charged. A bank may dishonour a bank cheque if:
If a bank cheque is lost or stolen, NAB will, on certain conditions provide a replacement cheque for a fee.
7.2 Direct Debits
You may make regular payments to a third party (Debit User), by authorising the Debit User to debit your account with NAB. For eligible accounts refer to the Product Comparison Table.
7.2.1 General provisions
7.2.2 Disputed Debits
NAB will promptly process your instruction.
7.2.3 Cancellation of direct debit authority
NAB will promptly process your instruction and stop further debits to your account. NAB will advise the Debit User of your request to cancel the authority. NAB suggests you also contact the Debit User. This may be especially helpful when resolving complaints about incorrect charges.
7.2.4 Non-payments
7.2.5 Multiple authorities
7.3 You must check your statements
Without limiting any part of these terms and conditions, you must promptly review your statement of account to check for and tell NAB of any transaction recorded on your statement that you suspect for any reason you did not authorise or for which the information recorded is incorrect. Failure to promptly report unauthorised transactions may increase your liability.
7.4 Indemnity
In the absence of a breach of any obligation owed to you, NAB will not be liable for any loss that you incur:
Where NAB pays funds or suffers any loss under this clause, you must indemnify NAB. NAB will debit your account for the relevant amount.
7.5 PayID and Osko Payments
You can register a PayID, and make and receive Osko Payments and other NPP Payments from certain account types. For eligible accounts, refer to the Product Comparison Table.
Part F sets out additional terms and conditions in relation to PayID, Osko and NPP Payments.
8.1 Each accountholder is authorised to operate the account alone unless an authority is provided to NAB which specifies who is authorised to operate the account and whether they may do so alone or jointly.
8.2 When an accountholder authorises a person under clause 8.1, that person is authorised to do all of the following things:
8.3 In respect of any authority provided to NAB under clause 8.1, NAB may elect not to follow any instructions given under the authority if:
8.4 In respect of any authority provided to NAB under clause 8.1, NAB may, by giving notice, override the authority and require that all or specific future transactions must be authorised by all accountholders
8.5 Any authority provided to NAB under clause 8.1 does not prevent NAB from complying with other valid accountholder instructions.
8.6 In relation to transactions to or from the account, you authorise NAB to disclose and collect information (including personal information) to and from other financial institutions, to the extent NAB considers this reasonably necessary.
9.1 If there are two or more of you, you will be treated as holding the account jointly and NAB may accept for credit to your account any cheque, payment order or bill of exchange that is not payable to all of you. This means that each accountholder has the right to all of the balance of the account, jointly with the other accountholders.
9.2 If any of you die, the account will be treated as the account of the survivor or survivors jointly.
9.3 Unless any of you request otherwise, NAB statements and notices (including notification of any variation to these terms and conditions) will be forwarded to the address of the first of you named on your account. In the absence of evidence to the contrary, you will all be deemed to have received any NAB statements and notices forwarded in accordance with the terms and conditions in this booklet. If we are legally obliged to, we will send statements and notices for each NAB FlexiPlus Mortgage account and each NAB Portfolio Facility/NAB Private Portfolio Facility sub account to each accountholder.
9.4 A joint accountholder may only make a withdrawal on the terms of any authority to operate on the account. If NAB is notified of a dispute between joint accountholders, NAB may require all joint accountholders to sign any authority to operate the account.
9.5 The liability of accountholders under an account held in joint names is joint and several. This means each and all of the accountholders are liable for the whole of any debit balance on the account.
9.6 Subject to any authority provided under clause 8.1, any one of the joint accountholders is authorised to open additional joint accounts or take out additional joint services.
NAB can combine or set-off the balance of two or more of any type of accounts, credit facilities or other products held by the accountholder with NAB, even if they are held at different branches or in joint names. This may happen when one of the accountholder's accounts is overdrawn or is in debit and another is in credit. For example, the credit balance in one account can be used to repay the debit balance in another account. NAB will promptly inform you if it has exercised this right and NAB need not give you notice in advance. The accountholder does not have a right of combination or set-off unless NAB has agreed.
NAB may close your account at any time at its discretion. NAB will give you notice before closing your account, unless the account has a zero balance or is overdrawn at the time of closure. Where your account has a credit balance, before it is closed we will either take reasonable steps to return the balance to you or, where the relevant statutory requirements have been met, we may transfer the balance to the Commonwealth Government as unclaimed money.
If you receive a mistaken internet payment into your account NAB may be required to act in accordance with the ePayments Code. NAB's obligations under the ePayments Code are described in 51A.2 of Part E of this booklet in the paragraph "Our obligations if we are notified about a mistaken internet payment".
The following terms and conditions are in addition to the terms and conditions applying to all accounts, cards and services covered in this booklet.
12.1 NAB has adopted the Code of Banking Practice and relevant provisions of the Code apply to the accounts, cards and services included in this booklet, if you are an individual or a small business customer (as defined by the Code).
12.2 You can obtain from NAB upon request:
Where these terms and conditions confer a discretion on NAB, NAB will exercise that discretion reasonably and in accordance with its legitimate business interests.
NAB will give you notice of changes to the accounts, cards and services included in this booklet as set out in the table below and you agree to receive notice in such ways.
13.1 Changes NAB may make
In addition to the other changes NAB may make to the terms and conditions in this booklet, which are detailed in this booklet, NAB may change any other terms and conditions (including by imposing new fees or charges, changing the amount, type or method of calculation of fees and charges payable). NAB will make any changes in accordance with any applicable legislation and industry codes. If you do not accept any change we make, you can ask NAB to close your account. You will need to pay any outstanding balance in order to do this.
13.2 How does NAB notify you of changes?
NAB will give you notice of changes to the accounts, card and services included in this booklet as set out in the table below and you agree to receive notice in such ways.
Type of Change |
Method of Notification |
Timeframe |
Changes relating to Transaction and Savings Accounts in Part A |
||
Introduction of a fee or charge |
In writing or electronically |
At least 30 days before the change takes effect |
Changes to fees and charges |
In writing, electronically or by media advertisement |
At least 30 days before the change takes effect |
Changes to interest rates |
By media advertisement |
No later than the day the change takes effect |
Changes to the calculation of interest |
In writing or electronically |
At least 30 days before the change takes effect |
Any other changes to the terms and conditions in Part A & B |
In writing or electronically |
At least 30 days before the change takes effect |
Changes relating to the use of your card or card details in Parts C and D |
||
Changes to the daily limit that can be withdrawn or transferred from your card |
In writing or electronically |
At least 20 days (or any longer period allowed by law) before the change takes effect |
Changes to the time during which the daily limit applies to purchases and withdrawals of cash undertaken using a card or PIN |
In writing or electronically |
At least 20 days (or any longer period allowed by law) before the change takes effect |
Changes to an increase in the accountholders liability for losses relating to EFT transactions |
In writing or electronically |
At least 20 days (or any longer period allowed by law) before the change takes effect |
Changes to fees and charges (including the introduction or increase of charges relating solely to the use of your card or PIN or card account details or the issue of an additional or replacement card or PIN or card account details) |
In writing or electronically |
At least 30 days before the change takes effect |
Any other changes to NAB Visa Debit terms and conditions in Part C and NAB Electronic Banking (Debit cards) terms and conditions in Part D. |
In writing, electronically or by media advertisement. |
No later than the day the change takes effect or as required under applicable laws and industry codes. |
Changes relating to the use of NAB Internet Banking and NAB Telephone Banking in Part E |
||
Any change to or imposition of a daily or other periodic transaction limit |
In writing or electronically |
At least 30 days before the change takes effect |
Any change to the number and type of accounts on which a transaction may be made, or type of transactions that may be made |
In writing or electronically |
At least 30 days before the change takes effect |
An increase in the accountholder's liability for losses relating to EFT transactions |
In writing or electronically |
At least 30 days before the change takes effect |
Changes to fees and charges (including the introduction or increase of charges relating solely to the use of a NAB ID, authentication service or password or the issue of an additional or replacement NAB ID, authentication service or password) |
In writing or electronically |
At least 30 days before the change takes effect |
Any other changes to the terms and conditions in Part E |
In writing or electronically |
At least 30 days before the change takes effect |
In relation to changes to NAB Internet Banking and NAB Telephone Banking, to the extent permitted by any applicable legislation and industry codes, NAB reserves the right not to give advance notice when changes are necessitated by an immediate need to restore or maintain the security of NAB's systems or individual accounts. |
||
General Notification Provisions |
||
Changes to government fees and charges |
In writing, electronically or by media advertisement |
As soon as practicable after, but no later than three months after the change takes effect. |
Change relating to PayID, Osko and NPP Payments in Part F |
||
Any change to the terms and conditions in Part F |
In writing or electronically |
As least 30 days before the change takes effect. |
13.3 How do you notify NAB of changes?
Type of Change |
Method of Notification |
Timeframe |
Change of Address (including nominated electronic address) |
In writing, in person at any NAB branch, via NAB Internet Banking or by calling us on 13 BANK (13 22 65) |
As soon as possible |
Notices, certificates, consents, approvals and other communications in connection with these terms and conditions (eg. cancellation of a card) |
Electronically using the service or in writing, in person at any NAB branch or by calling us on 13 BANK(13 22 65) |
As soon as possible |
13.4 Electronic communication
If you are a NAB Internet Banking user:
13.5 You can choose to receive notices or statements in paper by giving NAB notice. Where your product or service is designed exclusively for electronic use, paper notices and statements are only available in limited circumstances.
13.6 For the purposes of clause 13.4:
13A Money laundering and illegality
13A.1 You agree that NAB may delay, block or refuse to make or receive or credit any payment using the services detailed in this booklet if NAB believes on reasonable grounds that making, receiving or crediting that payment may breach any law in Australia or any other country, and NAB will incur no liability to you if NAB does so.
13A.2 You declare and undertake to NAB that you do not have any reason to suspect that any payment NAB makes in accordance with any instructions you give NAB using the services detailed in this booklet will breach any law in Australia or any other country.
For information about resolving problems or disputes, contact NAB on 1800 152 015, or visit any NAB branch.
NAB has available on request information about the procedures for lodging a complaint. For more details about our internal dispute resolution procedures please ask for our complaints resolution brochure.
If you subsequently feel that the issue has not been resolved to your satisfaction, you may contact our external dispute resolution scheme. External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints. Our external dispute resolution provider is the Australian Financial Complaints Authority (AFCA) and can be contacted at:
Telephone: | 1800 931 678 |
---|---|
Email address: | info@afca.org.au |
Website: | www.afca.org.au |
Postal address: | GPO Box 3 Melbourne VIC 3001 Australia |
NAB may, at its discretion, waive any fee or charge to your account to which it is entitled. The failure by NAB to collect any fee or charge which applies to your account does not give rise to a waiver of that fee or charge in the future.
The terms and conditions in this booklet and the transactions contemplated by these terms and conditions are governed by the law in force in Victoria and each party irrevocably and unconditionally submits to the non-exclusive jurisdiction of those courts.
The following terms and conditions apply to the use of NAB Visa Debit cards with NAB Classic Banking and NAB Retirement Account. In addition to the terms and conditions in this Part C, the terms and conditions in Part B of this booklet also apply to your NAB Visa Debit card.
Where we refer to use of or using your NAB Visa Debit Card, this includes use of or using your card details as well where relevant. Please read the definition of 'use' in Part C of the Definitions and Interpretation of this booklet for more information.
17.1 The NAB Platinum Visa Debit card is a NAB Visa Debit card made available to persons over the age of 18 years. Any NAB Platinum Visa Debit card issued by NAB to you is for use on your NAB Visa Debit account.
17.2 The terms and conditions in this clause 17 apply to any NAB Platinum Visa Debit card issued to you in addition to the remaining terms and conditions in this Part C (which apply to the NAB Visa Debit card).
17.3 Cash back terms
17.3.1 The following definitions apply to the Cash back terms and conditions set out in this clause 17.3:
Account means your NAB Visa Debit account or the NAB Visa Debit account to which your NAB Platinum Visa Debit card is linked.
Cash back means the amount calculated in accordance with clause 17.3.3 on the eligible spend per calendar month per NAB Platinum Visa Debit card and credited to your Account in accordance with these terms and conditions.
Eligible spend means the total amount of the qualifying transactions made in AUD up to a capped amount (referred to on www.nab.com.au/platinumvisadebit) per calendar month per NAB Platinum Visa Debit card.
Qualifying transaction means any Contactless purchase (made either with a PIN or without a PIN) using our NAB Platinum Visa Debit card. This includes only those transactions which are processed and debited to your Account by the last Banking Day of each calendar month.
Cash back calculation
17.3.2 NAB Platinum Visa Debit cardholders may earn Cash back on eligible spend using their NAB Platinum Visa Debit card calculated per calendar month. This applies to each NAB Platinum Visa Debit card, issued on your linked Account.
17.3.3 The Cash back is calculated as a percentage of the eligible spend (referred to on www. nab.com.au/platinumvisadebit) per calendar month for each NAB Platinum Visa Debit card.
17.3.4 The eligible spend includes those qualifying transactions which are processed and debited to your Account by the last Banking Day of each calendar month.
Cash back credit
17.3.5 Each Cash back will be credited to your Account on the first Banking Day of each calendar month following the month in which the eligible spend was processed and debited to your Account for that Cash back credit.
Ineligible Cash back
17.3.6 Cash back will not be calculated and there is no entitlement to earn Cash back where:
(a) your NAB Platinum Visa Debit card is closed during any calendar month; or
(b) you do not comply with the NAB Visa Debit terms and conditions in Part C of this booklet (including the NAB Platinum Visa Debit card terms and conditions).
17.3.7 We have no obligation to credit Cash back for any reason outside of the qualifying transactions and we may cancel any Cash back recording if we determine that it was calculated in error.
Changes to Cash back terms
17.3.8 We may change the terms and conditions in clause 17.3 (including to vary the method of calculation of Cash back, including any percentage applicable to or cap on eligible spend) by notifying you in writing, electronically or by media advertisement, no later than the day the change takes effect or as required under applicable laws and industry codes.
18.1 The terms and conditions set out in Part C apply when you accept them by using your NAB Visa Debit card or card details. However, clause 27 applies immediately when you request a NAB Visa Debit card and you will be charged the applicable card fee.
19.1 The NAB Visa Debit card is available to persons over the age of 14 years. Any NAB Visa Debit card issued by NAB to you is for use on your NAB Visa Debit account. Where a NAB Visa Debit card is issued to a person who is aged 14 or 15 years, they must nominate a parent/guardian as an authorised party to the linked NAB Visa Debit account.
19.2 The NAB Visa Debit card remains the property of NAB.
19.3 NAB may at any time issue a new NAB Visa Debit card to you for use subject to these terms and conditions.
19.4 You are responsible for each purchase and cash withdrawal made using your NAB Visa Debit card. This is so whether the purchase or cash withdrawal is made at your request or by the authorised use of your NAB Visa Debit card. There are limits on your liability for unauthorised use set out in clause 24 and 25.
19.5 You are responsible for the security of any NAB Visa Debit card and card details issued to you. Any NAB Visa Debit card issued to you is for your use only. You are responsible for keeping your NAB Visa Debit and card details card in a safe place and providing protection from theft and misuse.
19.6 If requested by you, NAB may issue a NAB Visa Debit card to any person who is 14 years of age or older whom you have authorised to operate your NAB Visa Debit account provided you are at least 18 years of age. For the avoidance of doubt, an additional NAB Visa Debit card cannot be issued to any person if you are under 18 years of age. However, NAB may only issue a NAB Platinum Visa Debit card to any person who is 18 years of age or older whom you have authorised to operate your NAB Visa Debit account.
19.7 You are responsible to NAB for the operation by an additional NAB Visa Debit cardholder of the NAB Visa Debit card (and card details) issued to them and your NAB Visa Debit account. NAB does not impose any joint or several liability on the additional NAB Visa Debit cardholder. You are liable to NAB if an additional NAB Visa Debit cardholder does not comply with these terms and conditions.
19.8 For this reason, you should ensure that any additional NAB Visa Debit cardholder receives a copy of these terms and conditions. The additional NAB Visa Debit cardholder should read and understand the terms and conditions set out in Parts C, D and where applicable, Part E.
5 This includes transaction accounts that form part of a NAB Choice or NAB Private Tailored package. Note that for transaction accounts that form part of a NAB Choice or NAB Private Tailored package, a NAB Visa Debit card cannot be issued to a Business customer.
19.9 An additional NAB Visa Debit cardholder is able to operate your NAB Visa Debit account in every way that you are able to. For example, the additional NAB Visa Debit cardholder may:
19.10 Subject to the terms and conditions of any electronic banking facility, if you authorise an additional NAB Visa Debit cardholder to operate your NAB Visa Debit account and they have a Personal Identification Number (PIN) or other identifying number or password for use in relation to the additional NAB Visa Debit card (and card details) or the NAB Visa Debit account, the additional NAB Visa Debit cardholder can access your NAB Visa Debit account through use of their NAB Visa Debit card (and card details) and PIN or other identifying number or passwords.
19.11 You can revoke the authority of an additional NAB Visa Debit cardholder to operate your NAB Visa Debit account if you:
If you request NAB to revoke the authority of an additional NAB Visa Debit cardholder, you must immediately notify the additional NAB Visa Debit cardholder of your request.
19.12 If you make a request to revoke the authority of an additional NAB Visa Debit cardholder to operate your NAB Visa Debit account in accordance with clause 19.11, you are responsible for:
19.13 A NAB Visa Debit card may be honoured by financial institutions and merchants displaying a sign or card promotional material that identifies the Visa card scheme. This does not mean that all goods and services available at those premises may be purchased by use of a NAB Visa Debit card.
19.14 You may be able to use your NAB Visa Debit card details through an electronic banking facility. This includes when the NAB Visa Debit card details are used at a merchant by mail, telephone order or through the Internet to pay for goods or services. In this instance:
19.15 You should ensure that the transaction amount is correct before:
NAB relies on your signature on a voucher or transaction record or the entry of your PIN as authority to debit the amount shown.
19.16 NAB is not responsible for goods or services supplied to a cardholder, and any complaint must be resolved with the merchant. In some circumstances, NAB may be able to lodge a claim to request a refund for you under the card scheme's rules for disputed transactions. Details about chargeback rights and the procedures for disputing transactions are described in clause 25.
19.17 A NAB Visa Debit card transaction cannot be changed. It is an unchangeable order by you to NAB to process the transaction. You may not request NAB to alter or stop payment on the transaction. To cancel periodical debits authorised to be made by your NAB Visa Debit card you must contact the merchant and give directions to cancel them.
19.18 Your NAB Visa Debit card must not be used for any unlawful purpose, including the purchase of goods or services, prohibited by any law in the cardholder's jurisdiction.
19.19 NAB may temporarily block the use of your NAB Visa Debit card where it has reason to suspect inappropriate, unauthorised or unlawful activity on your NAB Visa Debit card. NAB will endeavour to contact you in this event.
19.20 You are encouraged to maintain a record of any regular payment arrangement you elect to enter into with a merchant.
A regular payment arrangement includes regular direct debits, regular recurring payments and instalment payments from a debit card. Instalment payments are regular payments over a set period of time.
To either change or cancel any regular payment arrangement you should contact the merchant at least 15 days prior to the next scheduled payment. Until you attempt to cancel the regular payment arrangement NAB must accept the merchant's transaction. If possible, you should retain a copy of your change/cancellation request. If the merchant fails to act in accordance with these instructions you may have the rights to a dispute.
20.1 A NAB Visa Debit card may not be accepted unless it carries your signature and is used during the validity-period shown on your card.
20.2 The available balance of your NAB Visa Debit account will be reduced by the amount of:
20.3 All purchases and cash withdrawals made using a NAB Visa Debit card through the Visa card scheme are limited to the available balance of your NAB Visa Debit account.
20.4 A cash withdrawal cannot be made using card details or card at a contactless reader.
20.5 Transaction limits apply to the use of a card details or a card to make a purchase at a contactless reader. NAB will notify you of any such limit if your card is capable of making contactless purchases.
21.1 Your NAB Visa Debit account will be debited with, and you agree to pay to NAB:
payable under the terms and conditions in Part C.
21.2 In the absence of evidence to the contrary:
22 NAB may assign any date it considers appropriate to a debit or credit to your NAB Visa Debit account or may adjust any debit or credit for the purposes of correction.
23.1 NAB will give you a statement for your NAB Visa Debit account as set out in Part A.
23.2 If your NAB Visa Debit card or card details are used to make transactions in a foreign currency, the way amounts are converted to Australian dollars for listing on your statement is set out below:
(Note: Refunds incurred in currencies other than Australian dollars are converted to Australian dollars as at the date they are processed by Visa International using exchange rates determined by them. This often results in the refund being converted using an exchange rate different from the one used to convert the original purchase or cash withdrawal.)
24.1 Notification procedure
If a NAB Visa Debit card or card details is lost or stolen you must immediately notify NAB using the telephone number referred to in the 'Lost/Stolen Cards/Compromised Personal Identification Numbers (PINs)' details under Summary of Important Information at the front of this booklet, or any other means NAB makes available to you. Where requested, you must give NAB all the information you have about how the loss occurred.
24.2 Your liability
You remain liable for any cash withdrawal or purchase made by any other person before you notify NAB of the loss or theft up to a maximum of:
24.3 Despite notifying NAB of an event described in clause 24.1, you remain liable for any cash withdrawal or purchase made by you.
24.4 Emergency card replacement
If your NAB Visa Debit card is lost or stolen while you are overseas, you may request a NAB Visa Debit Emergency Card for use until your permanent replacement card is received. You remain liable and responsible for the proper use of the NAB Visa Debit Emergency Card and any transactions made using the NAB Visa Debit Emergency Card or its card details.
24.5 New card details to your Merchants
If your NAB Visa Debit card details are changed ie. as a result of a lost or stolen card you must request the merchant to change the details of your existing regular payment arrangement to ensure arrangements continue. If you fail to undertake this activity your regular payment arrangement either may not be honoured by NAB or the merchant may stop providing the goods and/services.
25.1 A disputed transaction may include:
Despite notifying NAB of a disputed transaction you remain liable for any cash withdrawal or purchase made by using your NAB Visa Debit card.
25.2 Notification procedure for disputed transactions
You should immediately notify NAB of any disputed transaction.
NAB recommends that you promptly read each statement carefully as soon as you receive it. If applicable you may also wish to check your current transaction history via NAB Internet Banking or NAB Telephone Banking.
Use the telephone number printed on your statement or on the back of your NAB Visa Debit card to report the disputed transaction. You must give NAB any information you have about how the disputed transaction occurred. NAB may require you to confirm details in writing.
25.3 Chargeback rights
The Visa card scheme has a dispute resolution process that is contained in its operating rules. This process sets out specific circumstances and timeframes in which a member of the scheme (e.g. a financial institution) can claim a refund in connection with a disputed transaction on your behalf. This is referred to as a 'chargeback right'.
This 'chargeback right' does not apply to transactions at EFTPOS terminals accessing your nominated account using the 'savings' or 'cheque' option.
NAB's ability to investigate any disputed transaction on your NAB Visa Debit card, and subsequently process a chargeback is restricted by the time limits imposed under the operating rules for the Visa card scheme.
While your dispute is being investigated by NAB, the value of the disputed transaction will be withheld against your NAB Visa Debit account until the dispute is resolved.
25.4 Timeframes for notifying NAB
The ability of NAB to dispute a transaction on your behalf (where a chargeback right exists) may be lost if you do not notify NAB within the required timeframes.
For this reason, it is in your interest to report any disputed transaction to NAB immediately and certainly no later than 75 days after the date of transaction on your receipt.
Where it can be shown that you have unreasonably delayed notifying NAB, you may be liable for the loss on any disputed transaction.
25.5 Timeframes for NAB to process a chargeback right where a chargeback right exists
NAB will process a chargeback for you when you have notified NAB of the disputed transaction within the required time frame, as described in clause 25.4.
The timeframes for NAB to process a chargeback vary between 75 days and 120 days depending on the type of disputed transaction.
NAB will not accept a refusal of a chargeback by a merchant's financial institution unless it is consistent with the relevant Visa card scheme rules.
25.6 Electronic transactions
If the ePayments Code is applicable to a disputed transaction, the timeframes as specified in clause 25.4 may not apply in certain circumstances.
The procedures for resolving disputed electronic transactions are set out in the terms and conditions of the electronic banking facility.
26.1 Cancellation by NAB
NAB may cancel your NAB Visa Debit card at any time without notice. Examples of where NAB may do this include, where you have reported a fraudulent transaction using your card or card details, where the account is inactive, or where NAB reasonably believes that the continued use of your card may cause loss to NAB or you. These examples are for guidance only and do not limit NAB's ability to cancel your card for another reason.
The NAB Visa Debit card or card details may not be used after it is cancelled or your NAB Visa Debit account is closed. When NAB gives you notice of the cancellation you must destroy or return the NAB Visa Debit card to NAB and to take reasonable steps to prevent your card details from being used.
26.2 Cancellation by you
You may cancel your NAB Visa Debit card if you:
You will remain liable for any transactions using your NAB Visa Debit card or NAB Visa Debit card details prior to your NAB Visa Debit card or NAB Visa Debit account being closed. NAB may seek to recover these funds from you.
NAB may refuse to authorise any transactions on your NAB Visa Debit card made after receiving your request to cancel your NAB Visa Debit card.
26.3 Regular payment arrangements (including direct debits)
26.4 Terms and conditions continue after cancellation
The terms and conditions in Part C will continue after a NAB Visa Debit card is cancelled under clause 26 or your NAB Visa Debit account is closed and until any outstanding amounts to be debited to your NAB Visa Debit account are paid (whether the amounts are accrued or charged before or after the cancellation of your card or closure of your NAB Visa Debit account).
NAB may debit your NAB Visa Debit account with fees applicable to the NAB Visa Debit card and other standard fees, the amount and nature of which are detailed in NAB's brochure 'A Guide to Fees and Charges – Personal Banking Fees'. Any fees and charges paid by you are not refundable.
Parties other than NAB may from time to time offer certain goods and services to you:
in connection with your NAB Visa Debit card. NAB is not responsible for any of these goods or services, or the failure of such a party to provide or perform such goods or services.
The rights and obligations outlined in this Part D comply with both the ePayments Code and the Code of Banking Practice. In addition, the terms and conditions in Part B of this booklet apply to any use of NAB's electronic equipment as set out in the terms and conditions in this Part D.
29.1 When do these NAB Electronic Banking (Debit cards) terms and conditions apply?
These terms and conditions are binding on you from whichever of the following occurs first:
However, note clause 34.5 and the guidelines on security in clause 34.6 apply immediately upon you receiving or selecting the PIN.
29.2 Terms and conditions relating to EFT transactions
These terms and conditions apply to EFT transactions on your nominated accounts. These include, but are not limited to, EFT transactions initiated by you:
29.3 Other terms and conditions
Separate terms and conditions exist for:
If there is any inconsistency between the terms and conditions in this Part D and the terms and conditions applying to your NAB Visa Debit card or nominated account, these NAB Electronic Banking (Debit cards) terms and conditions apply to the extent any inconsistency exists in respect of EFT transactions, except for notice of cancellation or revocation of any electronic banking facility.
30.1 Nominated accounts
Your card details and/or card and/or PIN (or your card account details) enable transactions to be made on any NAB accounts which you have nominated for use with NAB's card based electronic banking facilities.
30.2 Number and type of accounts
There is a limit to the number and type of accounts which can be accessed using NAB's card based electronic banking facilities. Some types of electronic equipment may not allow access to all types of accounts.
30.3 Amounts withdrawn or transferred
NAB reserves the right to limit the amount which may be withdrawn or transferred from a nominated account by way of certain EFT transactions.
A 'daily' limit applies from midnight to midnight Australian Eastern Standard Time or Australian Eastern Standard Summer Time (whichever is applicable).
A daily limit applies to all purchases and withdrawals of cash undertaken using your card and PIN.
A daily limit applies to all ATM cash withdrawals or to the cash component of a transaction made at an EFTPOS terminal under clause 31.3.
You will be advised of these specific limits when issued with your card, and you will be subsequently advised of any change to these limits. The limits advised by NAB are not an undertaking by NAB to limit the amounts withdrawn or transferred by use of NAB's card based electronic banking facilities. However, the advised limit does limit your liability for unauthorised transactions (see clause 34).
30.4 Valid and irrevocable authority
Your use of a card details and/or card, card account details or PIN through electronic equipment to initiate an EFT transaction is an unchangeable order to NAB to process the EFT transaction. Neither a cardholder nor an accountholder may request NAB to stop or alter the EFT transaction. However, the accountholder's liability for the EFT transaction could be limited in terms of clause 34.
31.1 NAB ATMs
Subject to the terms and conditions applying to your nominated account, your card and PIN enable you to use NAB's ATMs as determined by NAB.
NAB's ATMs allow you to withdraw or transfer funds between all nominated accounts, obtain a record of recent transactions, order a repeat statement and check your account balances. Some NAB ATMs may also allow you to deposit funds into a nominated account and to create or change your PIN.
It is your responsibility to familiarise yourself with the correct use of ATMs. If you are unsure or require assistance in the operation of the ATM, please seek assistance from NAB's branch staff or contact NAB using the Customer Service details in Summary of Important Information at the front of this booklet.
31.2 ATMs provided by other institutions
ATMs provided by other institutions accepting cards may allow you to withdraw funds and check your designated main nominated account(s) balances. Institutions providing other ATMs accepting cards may impose their own fees and restrictions on the operation of the cards with their ATMs including limits to the amounts which may be withdrawn. NAB accepts no responsibility for such fees and restrictions.
31.3 EFTPOS terminals provided by merchants
EFTPOS terminals allow you to pay for purchases and may allow the option of withdrawing extra cash from your designated main nominated account(s) at certain locations. Merchants providing EFTPOS terminals accepting cards may impose their own fees and restrictions on the operation of the cards with their EFTPOS terminals including limits to the amounts which may be withdrawn. NAB accepts no responsibility for such fees and restrictions.
31.4 Other transactions through electronic equipment
(Such as using a merchant internet site on a computer or by communicating through telephone or electronic mail with a merchant). The merchant or other person may impose their own restrictions on these EFT transactions (such as a purchase at a merchant using a contactless reader). Contactless readers give you the option of making purchases up to the limit notified to you by NAB. NAB has no control over whether a merchant will accept this form of contactless purchase. The merchant or other person may impose their own restrictions on these EFT transactions.
NAB accepts no responsibility for any such restrictions in connection with any such transactions through electronic equipment.
Note: Using digital wallets on mobile phone devices and wearable devices
Irrespective of the value of the purchase, you may not be required to enter a PIN in the contactless reader when making a contactless purchase where the electronic equipment is an eligible wearable device or mobile phone. You will be notified about this at the time you enrol for the digital wallet.
31.5 Functionality
The processing of an EFT transaction to a particular account will depend on the functionality of the electronic equipment (for example an overseas ATM may process a transaction to a nominated account(s) which you did not seek to initiate).
NAB accepts no responsibility for this differing functionality.
31.6 Fees
Fees may apply to any EFT transaction you undertake with NAB's card based electronic banking facilities, the amount and nature of which are detailed in 'A Guide to Fees and Charges – Personal Banking Fees'.
32.1 Receipts
32.2 Statements
32.3 Review statements of account
You should always review your statement and bring to NAB's attention any discrepancies, errors or unauthorised transactions as soon as possible. If you wish to dispute an EFT transaction, you must report this to NAB. Please refer to the Customer Service details in Summary of Important Information at the front of this booklet.
32.4 Discrepancies in cash delivered by an ATM
When withdrawing cash from an ATM, you should immediately check that the correct sum has been delivered. If there is a discrepancy between the amount of cash delivered by an ATM, and the amount shown on the receipt, report the facts as soon as possible to NAB. Please refer to the 'ATM emergency' details in Summary of Important Information at the front of this booklet.
32.5 Cards
Remember to take proper care of your card and card details. Do not keep your card in contact with other cards that have a magnetic strip. Magnetic strips can react with each other and if this occurs your card may no longer operate an ATM or EFTPOS terminal.
Expired cards must be destroyed.
32.6 EFTPOS terminal malfunction
In the event of an EFTPOS terminal malfunction or failure, the merchant may provide alternative manual procedures to enable a transaction to be made. You will be required to present your card for imprinting of a transaction voucher, indicate one of the main nominated accounts, and sign the transaction voucher. (The procedure is similar to that used for paper voucher credit card transactions.) NAB reserves the right to vary the manual procedure at any time.
If you have indicated on the paper voucher that a main nominated account is to be debited, and that account is closed or has insufficient funds available, NAB may redirect the debit entry to the other main nominated account without notice to you.
32.7 Merchants
NAB will not be liable for the refusal of any merchant to accept a card details and/or card, or card account details.
Any complaints concerning goods and services purchased must generally be resolved with the merchant. In some circumstances we may be able to lodge a claim to request a refund for you under the card scheme's rules for disputed transactions. Details about chargeback rights and the procedures for disputing transactions are described in clause 25.
32.8 Promotional material
Promotional material referring to NAB's card based electronic banking facilities that is displayed on or in any premises, is not to be taken as a warranty by NAB, or by the merchant carrying on a business in those premises, that all goods and services may be purchased by means of an EFT transaction. You also accept that the use of your card details and/or card and card account details may be subject to other limitations imposed by the merchant.
33.1 Cash deposits at ATMs
When making a cash deposit at an ATM you should be aware that such deposits may not be credited to your account immediately.
A cash deposit lodged in an ATM is subject to verification and at NAB's discretion may not be credited to your account until the following banking day. Deposits lodged will be credited into your account within two banking days'.
In the event of a discrepancy between the deposit value determined by NAB and the amount recorded by the ATM, the accountholder will be promptly advised of the actual amount which has been credited to the nominated account. Remember to include the ATM deposit advice in the envelope with the deposit, as failure to do so may delay funds being credited to your account. NAB reserves the right to correct or reverse any such deposit transaction.
NAB will accept responsibility for the security of your deposit correctly lodged at an ATM which offers depositing services, subject to verification of the amount deposited.
You should keep all records associated with a deposit that you make via an ATM until the deposit is verified and recorded on your account statement. Where the claimed deposit is not available for verification following forceful removal of the ATM or other criminal act, NAB requires you to reasonably substantiate the value of your claim.
33.2 Deposits in the form of cheques
If you make a deposit in the form of, or including a cheque, the funds of the cheque are not available for withdrawal until the cheque reaches the paying bank and NAB is guaranteed payment. (This condition applies to deposits made through an ATM or at a branch of NAB.) In the event of a discrepancy between the value of cheques deposited, as determined by NAB and your deposit claim, NAB will inform you. NAB reserves the right to correct or reverse any such deposit transaction.
Because of the requirements of NAB's systems, NAB reserves the right to place a 'hold' on the full amount of a deposit which includes a cheque.
For example, where a deposit includes cash and one or more cheques, the hold applies to the cash component as well as to the value of cheques.
Holds are normally applied for three banking days, and transactions requiring use of these funds may be refused within this period.
Therefore, if you wish to deposit cash and expect to withdraw against the sum of that cash within the three day period, you are advised to deposit the cash separately from the cheques. (That is, make two deposit transactions.)
NAB will not be responsible for any claim or refusal of a transaction if this condition is disregarded. You are entitled to enquire at any branch of NAB if holds are to be applied to any deposit.
Subject to clause 34, you, the cardholder, agree to indemnify NAB against all claims or liabilities it may incur as a consequence of it collecting a cheque of which you are not the true owner.
34.1 Your responsibilities with respect to the card and card details
You must:
34.2 General responsibility
The accountholder is generally responsible for all EFT transactions authorised by the use of the card details and/or card and/or PIN and/or the card account details or undertaken by another person with your knowledge and/or consent. The accountholder's liability for any use not authorised by you may, however, be limited as provided below.
34.3 No Accountholder liability in some circumstances
The accountholder is not liable for losses:
34.4 Accountholder liability for unauthorised transactions
The accountholder is liable for losses resulting from unauthorised transactions as provided below:
However, in relation to (a) and (b) above, the accountholder will not be liable for any of the following amounts:
34.4A The accountholder is liable for losses arising from unauthorised transactions that occur because you contributed to the losses by leaving a card in an ATM.
34.5 Your responsibilities
Either of these selections may mean you are liable for losses caused by unauthorised transactions caused by a breach of your PIN.
34.6 Guidelines
You should also comply with these guidelines to protect the security of your card details and/or card, card account details and PIN and thus reduce the possibility of any inconvenience to you:
There may be other forms of disguise which may be similarly unsuitable because of the ease of another person discerning your PIN.
Please note all the guidelines set out in clause 34.6 are for your assistance but your liability in the case of an actual loss will be governed by the ePayments Code and clause 34.5 in this booklet. However, you should take care to meet the guidelines set out in clause 34.6 as a failure to meet these guidelines may in some circumstances constitute an act of extreme carelessness under clause 34.5(a)(iii).
34.7 Advising NAB
If you believe your card or card details has been lost or stolen, your PIN divulged or that there has been misuse of your card, you must advise NAB as soon as possible. Please refer to NAB's Lost/ Stolen Cards/Compromised Personal Identification Numbers (PINs) details in Summary of Important Information at the front of this booklet, or any other means NAB makes available to you.
Once NAB has been notified of these matters the accountholder's liability for further EFT transactions will be limited.
Where telephone facilities are not available during particular periods, any losses occurring during these periods that were due to non-notification are deemed to be the liability of NAB, providing notification is made to NAB within a reasonable time of the facility again becoming available.
NAB will acknowledge your report and you should record or retain this acknowledgement.
34.8 Liability under Visa card scheme
Notwithstanding the above where you notify NAB of an unauthorised transaction on a NAB Visa Debit card, NAB will not hold the accountholder liable for an amount greater than the liability the accountholder would have had if NAB had, at the time the complaint was made, exercised its rights (to the extent relevant) under the rules of the Visa card scheme.
34.9 Failure of NAB's electronic equipment
However, NAB will not be liable for consequential losses where you should have been aware that NAB's electronic equipment or system was unavailable for use or malfunctioning. NAB's responsibilities in this case will be limited to the correction of errors in your account and the refund of any charges or fees imposed on you as a result. NAB will also not be liable for any losses caused by the failure of NAB's electronic equipment where NAB's system or electronic equipment had not accepted the EFT transaction.
NAB warrants that it will comply with the requirements of the ePayments Code for all EFT transactions on nominated accounts other than business EFT transactions.
The terms and conditions in Part B apply to any use of NAB Internet Banking or NAB Telephone Banking in addition to the terms and conditions in this Part E. You should read these terms and conditions before you use NAB Internet Banking and NAB Telephone Banking for the first time.
36.1 NAB Internet Banking and NAB Telephone Banking are secure, convenient and easy to use. These services may be used by you to help manage your accounts.
36.2 NAB offers to make NAB Internet Banking and NAB Telephone Banking available to you on these terms and conditions.
36.3 NAB will rely on your acceptance of these terms and conditions when:
37.1 The terms and conditions in Part E are in addition to any of NAB's terms and conditions for an account.
37.2 If there is any inconsistency between these terms and conditions and the terms and conditions applying to an account or to a service provided by NAB, these terms and conditions apply to the extent of that inconsistency.
38.1 NAB may allow any person over 16 years of age, authorised by you, to be an authorised user. It is your responsibility to ensure that any authorised user is over 16 years of age.
38.2 An authorised user may use a NAB ID issued to them in their own name, or alternatively they may use any additional NAB ID issued to you.
38.3 An authorised user who uses a NAB ID issued to them in their own name when accessing your account:
38.4 An authorised user who uses an additional NAB ID issued to you:
38.5 Subject to clauses 38.7 and 39, you are liable for any use of your account or the service by an authorised user as if the account or the service had been used by you. You are also responsible for all instructions given in relation to your accounts using the service, which are authorised by the use of your password or the password of an authorised user, or undertaken by another person with the knowledge or consent of you or of an authorised user.
38.6 You should ensure that any authorised user has been provided with, and read and understood these terms and conditions before using the service.
38.7 If you no longer wish any authorised user to be able to access or operate your account using the service you must:
39.1 This clause sets out important rules which may govern an accountholder's liability for unauthorised transactions. The liability provisions set out below override any other clause to the extent of any conflict or inconsistency for all personal EFT transactions.
39.2 When the accountholder is not liable
The accountholder is not liable for losses:
39.3 When the accountholder is liable
The accountholder will be liable for losses resulting from unauthorised transactions as provided below:
However, in relation to (a) and (b) above, for losses arising from unauthorised transactions the accountholder will not be liable to pay:
Where the authentication service and/or password was required to perform the unauthorised transaction(s) and neither paragraph (a) nor (b) applies, the accountholder is liable for the lesser of:
39.4 User's responsibilities under the ePayments Code
Either of these selections may mean you are liable for losses caused by unauthorised transactions caused by a breach of the security of the password.
39.5 Failure of NAB equipment or NAB system
NAB will be liable to users for losses users suffer, caused by the failure of NAB's equipment or NAB's system to complete a personal EFT transaction accepted by NAB's equipment or NAB's system in accordance with the user's instructions.
However, where the user should have been aware that NAB's equipment or NAB's system was unavailable for use or malfunctioning, NAB's responsibilities will be limited to the correction of any errors in the accountholder's account and the refund of any charges or fees imposed on the accountholder as a result.
NAB will also not be liable for any losses caused by the failure of NAB's equipment or NAB's system where NAB's equipment or NAB's system had not accepted the personal EFT transaction.
39.6 Advising NAB
If the user believes the security of the user's authentication service and/or password has been breached, the user must advise NAB Internet Banking Support as soon as possible.
Once NAB has been notified of these matters the accountholder's liability for further personal EFT transactions will be limited. Where telephone facilities for notification are not available during particular periods, any losses occurring during these periods that were due to non-notification are deemed to be the liability of NAB, providing notification is made to NAB within a reasonable time of the facility again becoming available. NAB, will acknowledge the user's report, and the user should record or retain this acknowledgment.
39.7 Credit and charge cards
Notwithstanding the rest of clause 39 where the user notifies NAB of an unauthorised transaction on a credit card or charge card account, NAB will not hold the accountholder liable for an amount greater than the liability the accountholder would have had if NAB had, at the time the complaint was made, exercised its rights (to the extent relevant) under the rules of the credit card scheme.
40.1 You are not liable for any losses:
40.2 Where it is unclear whether or not a user has contributed to the losses resulting from unauthorised transactions on an account using the service, you are only liable to pay up to $150.
40.3 Where it is clear that a user has contributed to the losses because a user has failed to comply with clause 48 or you unreasonably delay notifying NAB under clause 50.5, then you are liable for those losses except for that portion of the losses incurred which exceed the balance of your account(s) (including any prearranged credit facility) or that portion of the losses incurred which exceed the total amount you are able to withdraw from your account(s) on the days the unauthorised use took place.
40.4 In the absence of a breach of duty or obligation owed to you, NAB is not liable for any loss or damage caused directly or indirectly to a user by:
You will be advised of the accounts and transactions you can undertake using the service when you sign up to the service. You may also refer to the FAQs at nab.com.au for further details.
Where your account is maintained with another entity within the National Australia Group, you agree that these terms and conditions will also apply to the use of NAB Internet Banking and NAB Telephone Banking in connection with that account.
You or NAB may end the use of the service at any time by giving a notice to the other. Examples of when NAB may end your use of the service include where the account is inactive and where NAB believes on reasonable grounds that continued use may cause loss to NAB or to you. These are examples only and do not prevent NAB terminating use of the service for any other reason.
NAB warrants that it will comply with the requirements of the ePayments Code for all personal EFT transactions conducted via NAB Internet Banking and NAB Telephone Banking service(s).
45.1 Once:
NAB will register the user as a user of the service and may, at its discretion, issue the user with an authentication service.
45.2 A user may use the service in accordance with the terms and conditions in this Part E, unless their use of the service is cancelled or suspended under these terms and conditions.
45.3 Access to the service, or access to certain functionalities of the service, may only be allowed by NAB:
45.4 Access to the service:
45.5 Transfer of funds
Subject to clauses 38.3 and 38.4, a user will be able to transfer funds from your accounts to any other accounts accessible by the user using the service, whether the accounts are held with other financial institutions, other third parties or NAB.
The amount which is able to be transferred will be subject to a daily limit set by NAB. Users should refer to FAQs at nab.com.au for details of any restrictions.
If a user uses a NAB ID issued to you, the user's ability to make such a transfer can be removed if you notify NAB under clause 38.7 that you want that to happen.
NAB bears no responsibility for limits and restrictions on any transfer of funds imposed by other financial institutions and third parties.
NAB may at any time, where reasonably necessary for its business purposes, add to, remove, change or impose restrictions on, the functionalities of the service.
When NAB receives an instruction from a user to make payment to a third party account (including a BPAY Payment) and the user has user authentication, NAB will require the user to provide the identifier generated by NAB in accordance with user authentication. This requirement is in addition to any password or other information a user must give to NAB when providing an instruction using the service. The user should contact NAB Internet Banking Support in the event NAB does not accept any instruction using the user authentication identifier. Provision of this identifier does not alter your responsibility for the transaction.
48.1 You must:
48.2 You must ensure that an authorised user protects, stores and uses their password and authentication service (if any), in the same manner as clause 48.1 requires you to protect, store and use yours.
In respect of unauthorised transactions for personal EFT transactions, your liabilities are governed by clause 39.
50.1 Subject to clauses 50.2 and 51:
50.2 An instruction to make a periodic or future dated payment continues until the expiry date authorised by a user, even if the service, or any authentication service used by a user to authenticate that instruction, has been cancelled.
50.3 In the case of an instruction to make a periodic or future dated payment, a user may revoke their instruction up until the cut-off time on the day payment is due to be made. Refer to clause 64.3 for further information about future dated payments to a PayID.
50.4 You are responsible for all instructions given in relation to your accounts which are authorised by a user's use of their password or authentication service or undertaken by another person with their knowledge or consent.
50.5 You must notify NAB immediately if:
In respect to personal EFT transactions only, please also refer to clause 39.6.
50.6 Subject to clause 39.5, it is your responsibility to use other means of effecting transactions and giving and obtaining information if for any reason the service is unavailable for use or malfunctioning.
Subject to clause 39.5:
In the absence of a breach of obligation owed to a user, NAB is not liable for any loss or damage caused directly or indirectly to a user as a result of NAB's failure to act or delay in acting on any instruction given to it by a user.
This clause applies to mistaken internet payments using the Pay Anyone functionality available within internet banking. It sets out important rules where the Sending ADI and the Receiving ADI have subscribed to the ePayments Code and
It does not apply to BPAY payments.
In this clause mistaken internet payment means a payment made by a user through Pay Anyone where funds are paid into the account of an unintended recipient because the user entered or selected the wrong BSB number and/or account number or the wrong PayID or a PayID which belonged to the wrong person as the result of the user’s error or the user being advised of the wrong details. ADI means Authorised Deposit-taking institution and has the same meaning as the term in the Banking Act 1959(Cth). The Receiving ADI is the ADI whose customer received an internet payment and the Sending ADI is the ADI whose customer has made an internet payment.
A user:
NAB will acknowledge receipt of the report and the user should record or retain this acknowledgment.
Process where NAB and the Receiving ADI are not satisfied a mistaken internet payment has occurred
When a user makes a report both NAB and the Receiving ADI need to be satisfied a mistaken internet payment has occurred.
If NAB is not satisfied a mistaken internet payment has occurred NAB is not required to take any further action and will tell you in accordance with 51A.2 (b).
If the Receiving ADI receives a request from NAB to return funds to NAB, but is not satisfied that a mistaken internet payment has occurred, the Receiving ADI may seek their customer’s consent to return the funds to you. If consent is provided to the Receiving ADI, NAB will return these funds to you as soon as practicable.
Process where NAB and the Receiving ADI are satisfied a mistaken internet payment has occurred and there are insufficient funds
This process applies where both NAB and the Receiving ADI are satisfied a mistaken internet payment has occurred.
If NAB is satisfied that a mistaken internet payment has occurred, NAB will send the Receiving ADI a request for return of the funds. NAB is reliant on the Receiving ADI advising NAB if there are sufficient funds in their customer’s account to cover the amount of the mistaken internet payment.
If NAB is advised there are insufficient funds in the customer’s account, NAB is reliant on the Receiving ADI using its reasonable endeavours to recover the funds for you from their customer (eg. facilitating payment by instalments).
If the Receiving ADI is unable to recover the funds from the unintended recipient you will be liable for losses arising from the mistaken internet payment.
Where NAB and the Receiving ADI are satisfied a mistaken internet payment has occurred and there are sufficient funds
This table describes the obligation of Receiving ADI and NAB if they are satisfied a mistaken internet payment has occurred and there are sufficient credit funds available in the account of the unintended recipient to cover the payment.
A different process applies depending on when the user reported the mistaken internet payment to NAB.
User reports the mistaken internet payment to NAB | Obligation of Receiving ADI after receiving NAB’s request to return funds | NAB’s obligation to pay you |
---|---|---|
Within 10 business days of making the payment | Funds must be returned to NAB within five business days (if practicable) of receiving NAB’s request to return the funds or such longer period as is necessary up to a maximum of 10 business days. | To return the funds to you as soon as practicable |
Between 10 business days and seven months of making the payment | Complete investigation within 10 business days of receiving NAB’s request to return the funds. If satisfied a mistaken internet payment has occurred
|
To return the funds to you as soon as practicable |
After seven months | Seek the consent of their customer to return funds. With the consent of their customer return the funds to NAB | To return the funds to you as soon as practicable |
Complaints
For information about making a complaint about the outcome of a mistaken internet payment report or how we have dealt with it, please see clause 14 Complaints in Part B of this booklet.
Our obligations if we are notified about a mistaken internet payment by another ADI
If NAB is notified by a Sending ADI that funds have been credited to your account as the result of a mistaken internet payment by its customer, NAB will act in accordance with the obligations of the Receiving ADI described in 51A.2 including the obligations to return funds in your account to the Sending ADI where applicable.
52.1 NAB's standard fees relating to the service, including the use of the service, are payable by you in accordance with clauses 52.2 to 52.4.
52.2 NAB may debit your billing account with its standard fees relating to the service or use of service which are detailed in the 'A Guide to Fees and Charges – Personal Banking Fees'.
52.3 If there are insufficient funds in your billing account, NAB will debit relevant fees or charges to the relevant account even if that causes the relevant account to become overdrawn or NAB may require you to pay the fees in any other manner NAB determines.
52.4 If you close your billing account, NAB will automatically select another account to which fees and charges relating to the service may be debited. If no account satisfactory to NAB exists, NAB may immediately cancel the availability of the service to you until such time that you open an account satisfactory to NAB or NAB may require you to pay the fees in any other manner NAB determines.
53.1 NAB Telephone Banking is automatically available to you if you are designated by NAB as a 'personal customer'. It is available on application if you are designated by NAB as a 'business customer'.
53.2 NAB will provide you with a NAB ID and a temporary password, which will be valid for 28 days from the date of issue automatically for a 'personal customer' and on acceptance of your application for NAB Telephone Banking for a 'business customer'.
54.1 A user may change a password by using the service. NAB reserves the right, at any time without notice, to cancel access to the service by a user and to cancel a NAB ID or a password.
54.2 The service may be used only with a correct NAB ID and password. You must ensure that you and all authorised users of the service:
54.3 If a password becomes known to any unauthorised person, the user must notify NAB immediately. NAB will cancel the password and give you a new one. If a user considers there has been any error in relation to the use of a password, you must let NAB know immediately.
54.4 NAB may allow access to an account by any person using a NAB ID and password correctly.
In respect of unauthorised transactions for personal EFT transactions, your liabilities are governed by clause 39.
Subject to clause 39:
In the absence of a breach of obligation owed to you, NAB is not liable for any loss or damage caused directly or indirectly to a user as a result of NAB's failure to act or delay in acting on any instruction given to it by a user.
NAB may arrange for all telephone calls to the service to be recorded for training and quality control purposes.
You must pay to NAB its standard fees relating to the service, including the use of the service which are detailed in 'A Guide to Fees and Charges – Personal Banking Fees'. Fees will be debited to an account selected by NAB.
59.1 BPAY Scheme
NAB is a member of the BPAY Scheme. The BPAY Scheme is:
NAB will tell you if NAB is no longer a member of the BPAY Scheme.
When a user tells NAB to make a BPAY Payment, the user must give NAB the required information specified in clause 59.4. NAB will then debit the specified account with the amount of that BPAY Payment.
59.2 How to use the BPAY Scheme
59.3 Valid payment direction
BPAY Payment instructions will be valid if, when the instruction is given to NAB, the NAB ID and password is used correctly.
59.4 Information you must give NAB
To instruct NAB to make a BPAY Payment, a user must:
NAB shall not be obliged to effect a BPAY Payment if NAB is not given all of the above information or if any of the information given to NAB is inaccurate.
59.5 Payments
59.6 Liability for mistaken payments, unauthorised transactions and fraud
If (ii) applies, then NAB will be liable to you for the difference between the amount for which you are liable and the amount of the unauthorised or fraudulent payment.
The longer the delay between when you tell NAB of the error and the date of your BPAY Payment, the more difficult it may be to perform the error correction. If this is the case, you will need to demonstrate that an error has occurred, based on your own records, or liaise directly with the biller to correct the error.
However, you must pay NAB the amount of that unauthorised payment if:
If NAB is able to recover part of the amount of that payment from the person who received it, you must only pay NAB the amount of that payment that was not able to be recovered.
If a BPAY Payment made by a user falls within the type described in clauses 59.6(c) or, 59.6(d) and the payment also falls within the type described in clause 59.6(e), then NAB will apply the principles stated in clause 59.6(e).
1. Except where a BPAY Payment is a mistaken payment referred to in clause 59.6(c), an unauthorised payment referred to in 59.6(d), or a fraudulent payment referred to in 59.6(e), BPAY Payments are irrevocable. No refunds will be provided through the BPAY Scheme where a user has a dispute with the biller about any goods or services a user may have agreed to acquire with the biller. Any dispute must be resolved with the biller.
IMPORTANT Even where a BPAY Payment has been made using a credit card or a charge card no 'chargeback' rights will be available under the BPAY Scheme.
59.7 Suspension
NAB may suspend your right to participate in the BPAY Scheme at any time including your use of BPAY View. Examples of where we may do this include where your account is inactive and where NAB believes on reasonable grounds that your continued participation in the BPAY scheme may cause loss to NAB or to you. These examples are for guidance only and do not prevent NAB from suspending access for any other reason.
59.8 BPAY payment cut-off times There are cut-off times and processing times for biller payments.
6.30pm Australian Eastern Standard Time or Australian Eastern Standard Summer Time in Sydney (whichever is applicable).
Please refer to the FAQs section at nab.com.au for further details.
However, the payment may take longer to be credited to a biller if you tell NAB to make a payment on a Saturday, Sunday or a public holiday or if another participant in the BPAY Scheme does not process a BPAY Payment as soon as they receive its details.
59.9 When a biller cannot process a payment
If NAB is advised that a payment cannot be processed by a biller, NAB will:
59.10 Account records
You should check your account records carefully, and promptly report to NAB as soon as you become aware of any BPAY Payments that you think are errors or are BPAY Payments that you did not authorise or you think were made by someone else without your permission.
NAB is not liable for loss suffered by a user where:
NAB will not be responsible for any loss or damage resulting from a breach by you of any term of these terms and conditions.
60.1 What you need to do to use BPAY View
You need to register in order to use BPAY View on nab.com.au
Register by logging into the service at nab.com.au and selecting to register for BPAY View.
60.2 Registering with BPAY View
If you register for BPAY View, you agree:
You can deregister a biller at anytime and the biller will be removed from your list of billers. The de-registration is effective immediately.
60.3 Bills – paper and electronic
You may receive paper bills and statements from a biller instead of electronic bills and statements:
NAB accepts no liability to provide you with a paper bill or statement in any of these circumstances unless NAB is the biller.
60.4 Notice of bills or statements
You agree that when using BPAY View:
60.5 What you must do
You must:
Unless expressly provided for in these terms and conditions NAB is not responsible for arranging for or ensuring that any biller you nominate will make bills and statements available to you. If you fail to receive bills and statements from a biller or the bill or statement is not available to be viewed using BPAY View you should contact the applicable biller to obtain a paper bill or statement.
60.6 Biller consent
If you tell NAB that a BPAY Payment made from your account is unauthorised, you must first give NAB your written consent addressed to the biller who received the BPAY Payment, consenting to NAB obtaining from the biller information about your account with that biller or the BPAY Payment. If you do not give NAB that consent, the biller may not be permitted under law to disclose to NAB the information NAB needs to investigate or rectify that BPAY Payment.
60.7 BPAY View billing errors
For the purposes of clause 60.7, a BPAY View billing error means any of the following:
60.8 If a billing error occurs:
60.9 For the purposes of clauses 60.7 to 60.9, you are responsible for a billing error if the billing error occurs as a result of an act or omission by you or the malfunction, failure or incompatibility of computer equipment you are using at any time to participate in BPAY View.
61.1 In addition to clause 60.2, if you register to use the BPAY Scheme, you:
61.2 You must notify NAB, if any of your personal information changes and you consent to NAB disclosing your updated information to all other participants in the BPAY Scheme referred to in clause 61.1 as necessary.
61.3 You can request access or correction to your information held by NAB, BPAY Pty Ltd or its agent, Cardlink Services Limited. For more information on how to access or to correct your information held by NAB please see NAB’s Privacy Policy at www.nab.com.au/privacy or call 13 22 65. For more information on how to access or correct your information held by BPAY Pty Ltd or its agent, please see BPAY’s Privacy Policy at www.bpay.com.au/privacy.aspx.
61.4 You can make a complaint about the way your personal information is handled by NAB, BPAY Pty Ltd or its agent, Cardlink Services Limited. For more information on how you can make a complaint about NAB’s handling of your information, please see NAB’s Privacy Policy available at www.nab.com.au/privacy or call 13 22 65. For more information on how you can make a complaint about BPAY Pty Ltd or its agent’s handling of your information, please see BPAY’s Privacy Policy at www.bpay.com.au/privacy.aspx.
61.5 If your personal information detailed above is not disclosed to BPAY Pty Ltd or its agent, it will not be possible to process your requested BPAY Payment or use of Bpay View. To contact BPAY Pty Ltd please telephone (02) 9646 9222 or email info@bpay.com.au.
Part F PayID, Osko and New Payments Platform
This part F sets out terms and conditions applicable to use of the PayID service, Osko and other NPP Payments. This part F applies in addition to your account terms and conditions in Part A, the general matters set out in Part B and, where applicable, Parts C to E.
62 About Pay ID
62.1 PayID is the NPP Payment addressing service that enables payers to make NPP Payments to payees using an alternative identifier instead of a BSB and account number.
62.2 For some account types, you can create a PayID (eg. your mobile number, email address or ABN) to be linked to your account. Once a PayID is created, any payments which a person makes to that PayID will be directed to the account to which that PayID is linked (‘the Linked Account’). For eligible accounts, refer to the Product Comparison Table.
62.3 Each PayID can only be linked to one account at a time, but an account can have multiple PayIDs linked to it. For example, you can create your mobile number and email address as PayIDs to the same account (in which case payments made to either PayID type will be directed to the same account), but you can’t create your mobile number or email address as the PayID for more than one account at a time.
62.4 Where your account is held in joint names, each account holder can link a PayID to the account.
62.5 You are not obliged to create or use a PayID for your account. You can continue to operate your account without a PayID, in which case payments to your account will require your BSB and account number.
63 Your PayID
63.1 Creating your PayID
63.2 PayID Name
A PayID Name must be registered with your PayID. When you create your PayID, we will either:
We will not permit selection of a PayID Name that we consider could mislead or deceive a payer into sending you NPP Payments intended for another payee.
63.3 Privacy and disclosure
63.4 Transferring your PayID to a different account
63.5 Maintaining PayID details
63.6 Locking your PayID
63.7 Closing a PayID
63.8 Payments to your PayID
You acknowledge that not all accounts and payment types support payment to a PayID. The ability for a payer to pay your PayID depends on the payer’s financial institution and on the type of payment to be made. As a result, in some cases you may need to provide your BSB and account number to the payer.
63.9 Mistaken and Misdirected Payments
Where we and the sending financial institution determine that an NPP Payment made to your account is either a mistaken internet payment or a payment made in error, we may, without your consent, and subject to complying with any other applicable terms and conditions, deduct from your account an amount equal to that mistaken internet payment or payment made in error. A payment made in error includes a fraudulent payment, an over payment, duplicate payment, payment error made by us or a Misdirected Payment. Refer to clause 51A for more information regarding handling of mistaken payments.
64 Making Payments to a PayID
64.1 When you enter the PayID in the payee field of the relevant service, we will check to confirm that the PayID has been registered in the PayID service. Where it has, we will display to you on screen PayID Name attached to that PayID. You must check that name displayed matches the person that you intend to pay. If you do not recognise the name or the name does not match who you intend to pay, you should contact your intended payee to confirm that all details are correct before proceeding to make payment. Incorrect details could result in a payment to the wrong account and may result in loss of your funds.
64.2 When you direct a payment or other message to a PayID connected to a joint account, the other accountholders may be able to see the messages and notifications associated with the payment.
64.3 How we process future dated payments to a PayID
65 Osko
65.1 About Osko
65.2 Payments
65.3 Transaction Limits
We may impose limits on the value of any Osko Payment, or the aggregate value of Osko Payments or other NPP Payments permitted over a particular period. These limits may be different from limits that apply to other payment types.
65.4 Suspension and termination
65.5 Privacy and confidentiality
The following definitions apply throughout the terms and conditions set out in each Part of this booklet, unless otherwise stated. Also, other words used in Parts A and B have the meaning as defined in other Parts of this booklet.
'account' means your transaction or savings account issued by NAB.
'accountholder' means a person who has an account in their own name or, if in joint names, in respect of which NAB may act on the instructions of any one or more of them.
'AEDT' means Australian Eastern Daylight Time.
'AEST' means Australian Eastern Standard Time.
'banking day' means a day other than a Saturday, Sunday or a day gazetted as a public holiday throughout Australia.
'NAB' means National Australia Bank Limited ABN 12 004 044 937 and its successors and assigns.
'National Australia Group' means National Australia Bank Limited ABN 12 004 044 937 and its related bodies corporate.
'person' includes an individual, a firm, a body corporate, an unincorporated association or an authority.
'you/your' means the accountholder(s) who opens the account and if there is more than one, you means each of them separately and every two or more of them jointly. You includes your successors and assigns and in relation to your rights to operate the account, any other authorised signatory to the account acting within his or her authority.
Reference to Product Disclosure Statement (PDS) in ancillary documents – where the context requires a reference to a Product Disclosure Statement or a PDS for NAB Personal Transaction and Savings Products in any brochure, letter, application form or other document issued by NAB shall be construed as a reference to these terms and conditions.
The following definitions apply to Part C only. Other words used in Part C have the meaning as defined in other Parts of this booklet.
'additional NAB Visa Debit cardholder' means a person you have authorised to operate your NAB Visa Debit account and to be issued with a NAB Visa Debit card.
'available balance' means the amount in your NAB Visa Debit account less any outstanding authorisations set out in clause 20.2.
'card' means a card issued by NAB for use in relation to your account. It may include NAB Debit Card, NAB Visa Debit card and Deposit Only Cards.
'card details' means:
'cash withdrawal' means cash supplied by use of your NAB Visa Debit card on your NAB Visa Debit account including each such amount converted in accordance with clause 23.2
'contactless authorisation method' means the method of confirming your authority to make a contactless purchase, if any.
'contactless purchase' means a method of authorising purchases:
'contactless reader' means an electronic device at a merchant which can be used to make a contactless purchase.
'electronic banking facility' means each banking facility available through the Internet or by telephone from NAB and any other electronic banking facility advised to you by NAB from time to time, including contactless readers.
'merchant' means a provider of goods and services.
'NAB Visa Debit account' means an eligible account issued by NAB which can be linked to a NAB Visa Debit card.
'NAB Visa Debit card' means a card issued by NAB for use on your NAB Visa Debit account and may include a NAB Visa Debit card or a NAB Gold Visa Debit card.
'Near Field Communication (NFC)' is a form of contactless communication available on compatible devices such as smartphones or tablets.
'purchase' means each amount charged by the supplier for the supply of any goods or services purchased by the use of a card (including a BPAY transaction), including each such amount converted in accordance with clause 23.2.
'use' in relation to a card means any physical use of the card, and any notification or use of the card number or any other identifying number or password issued by NAB in relation to the card or the account accessed by the card or to enable the card or the account to be used through an electronic banking facility, and the making of any payment to your account. Some examples of use of a card are:
'Visa card scheme' means Visa International Service Association card payment scheme.
'you' means a person to whom the NAB Visa Debit card is issued and which is linked to a NAB Visa Debit account and where relevant, also means an additional NAB Visa Debit cardholder.
The following definitions apply to Part D only. Other words used in Part D have the meaning as defined in other Parts of this booklet.
'accountholder' means the person in whose name a nominated account is held.
'ATM' means Automatic Teller Machine.
'business account' means an account that is designed primarily for use by a business and established primarily for business purposes.
'business EFT transaction' means the part of an electronic funds transfer which is the debiting of value from or crediting of value to an account that is designed by NAB primarily for use by a business and established primarily for business purposes.
'card' has the same meaning as set out in the meaning of words for Part C.
'card details' has the same meaning as set out in the meaning of words for Part C.
'cardholder' means a person who has been issued a card or any other person who has been nominated by an accountholder to operate on a nominated account and who has been issued a card, or otherwise authorised by an accountholder to use an accountholder's card or card account details.
'contactless authorisation method' has the same meaning as set out in the meaning of words for Part C.
'contactless purchase' has the same meaning as set out in the meaning of words for Part C.
'contactless reader' has the same meaning as set out in the meaning of words for Part C.
'deposit only card' means a debit card issued by NAB which cannot be used to authorise withdrawals from nominated accounts.
'EFTPOS terminal' means an Electronic Funds Transfer at point of sale terminal.
'EFT transaction' means an electronic funds transfer to or from an account which is initiated through electronic equipment using a card details and/or card, card account details or PIN or contactless authentication method (or a combination of one or more of them) to debit or credit a nominated account but does not include:
'electronic banking facility' means each banking facility available through the Internet or by telephone from NAB and any other electronic banking facility advised to you by NAB from time to time, including contactless readers.
'electronic equipment' means any electronic equipment which may be used in conjunction with a card or card account details including but not limited to ATMs, EFTPOS terminals, contactless readers, personal computers, telephones , wearable devices or devices with integrated virtual assistants to carry out an EFT transaction.
To clarify, a PIN may not always be required as part of the authentication method when making purchases/payments via digital wallets (eg. on a mobile phone or wearable device) and/or through devices with integrated virtual assistants.
Alternative authentication methods like a device code or biometric identifier (like fingerprint, voice and facial recognition) may be required in place of a PIN.
'ePayments Code' means the ePayments Code issued by the Australian Securities and Investments Commission and subscribed to by NAB on 20 March 2013.
'merchant' has the same meaning as set out in the meaning of words for Part C.
'nominated account' means an account which can be accessed by using your card and PIN and/ or card details as authorised by the accountholder. This also includes an account that you have designated as your main account under clause 30.2.
'PIN' means the Personal Identification Number allocated by NAB or personally selected by you.
'receipt' means a record of an EFT transaction.
'unauthorised transaction' means any EFT transaction where:
'use' has the same meaning as set out in the meaning of words for Part C.
'you' means a cardholder or an accountholder
The following definitions apply to Part E only. Other words used in Part E have the meaning as defined in other Parts of this booklet.
'account' means if you are designated by NAB as a 'personal customer', each account you have, which NAB has determined is accessible by the service and, if you are designated by NAB as a 'business customer', each account which you have nominated in your application for the service as varied by you from time to time.
'authentication service' means a device and/or mechanism issued by NAB designed for secure user authentication to access the service. For example SMS Security or other device or mechanism issued from time to time.
'authorised user' means a person who has been authorised under clause 38 to access or operate an account through the service.
'biller' see clause 59.1.
'billing account' means your account selected by NAB or a user under these terms and conditions as the account to which:
This account may be known on the service as a 'billing account', a 'nominated transaction account', or any other term nominated by NAB from time to time through the service or otherwise.
'BPAY Pty Ltd' ABN 69 079 137 518 of Level 1, 255 George Street, Sydney, NSW 2000. www.bpay.com.au
'BPAY payments' see clause 59.1.
'BPAY view' see clause 59.1.
'business account' means an account that is designed primarily for use by a business and established primarily for business purposes.
'business EFT transaction' means the part of an electronic funds transfer which is the debiting of value from or crediting of value to a business account.
'Cardlink Services Limited' ABN 60 003 311 644, Level 4, 3 Rider Boulevard, Rhodes, New South Wales, Australia. Telephone (02) 9646 9222. www.cardlink.com.au
'cut-off time' in respect of a banking day means, for the purposes of payments or any other purpose under the terms and conditions in this Part E, the time by which the instruction relating to that purpose must be completed, which times are determined by NAB from time to time as follows:
'electronic equipment' means any electronic equipment which may be used in conjunction with a card or card account details including but not limited to ATMs, EFTPOS terminals, contactless readers, personal computers, telephones and mobile devices to carry out an EFT transaction.
'Electronic Transactions Act' - means the Electronic Transaction Act 1999 (Cth) and each analogous State and Territory enactment.
'ePayments Code' means the ePayments Code issued by the Australian Securities and Investments Commission and subscribed to by NAB on 20 March 2013.
'FAQs' means the list of Frequently Asked Questions set out in nab.com.au
'merchant' has the same meaning set out in the meaning of words for Part C.
'NAB ID' means a NAB Identification Number issued by NAB.
'password' means the password authorised by NAB for you or an authorised user to use to access the service.
'personal EFT transaction' means an electronic funds transfer to or from accounts using the service which is not a business EFT transaction.
'service' means the service NAB makes available through the Internet and the telephone to enable the receipt and transmission of information (including electronic receipt and transmission of information in relation to an account.
'unauthorised transaction' means any personal EFT transaction which you or an authorised user did not engage in or have knowledge of or consent to even though your NAB ID and/or password or (if relevant) the authorised user's NAB ID and password were used to generate the disputed transaction.
'user authentication' means the authentication service made available by NAB to a user when using the service to make payments or a certain value.
'user' means you or an authorised user or either of these, as the context requires.
'you/your' means an accountholder who has received the terms and conditions set out in this booklet and otherwise you means an accountholder who has accepted the terms and conditions in Part E.
The following definitions apply to Part F and where used in other parts of this booklet. Other words used in Part F have the meaning as defined in other Parts of this booklet.
‘BPAY Scheme’ means the scheme operated by BPAY which governs the way in which we provide Osko to you.
‘Misdirected Payment’ means an NPP Payment erroneously credited to the wrong account because of an error in relation to the recording of the PayID or Linked Account information in the PayID service.
‘NPP’ means the New Payments Platform.
‘NPP Payments’ means payments cleared and settled via the NPP, and includes Osko Payments.
‘Osko’ means the Osko Payment service provided by BPAY.
‘Osko Payment’ means a payment made by or on behalf of a payer to a payee using Osko.
‘Organisation ID’ means an identifier for a customer that is a business customer or organisation, constructed in accordance with specified rules.
‘PayID’ means any of the following, which can be linked to a financial account for the purpose of directing NPP Payments or instructions to that account:
‘PayID Name’ means the name registered with a PayID, intended to help identify the owner of the PayID in the PayID service.
‘PayID service’ means the payment addressing service for sending and receiving NPP Payments.
This notification covers National Australia Bank Ltd ABN 12 004 044 937 and its related companies (the ‘Group’). It includes all the banking, financing, funds management, financial planning, superannuation, insurance, broking and e-commerce organisations in the Group. The notification tells you how we collect your information, what we use it for and who we share it with. It also points out some key features of our Privacy Policy available at www.nab.com.au/privacy. By providing personal information to us, you consent to the collection, use and disclosure of your information in accordance with this Notification and any other arrangements that apply between us.
We’ll collect your personal information from you directly whenever we can, for example when you fill out a form with us, when you’ve given us a call, used our websites (including via cookies) or mobile applications or dropped into one of our branches (See our Cookies Policy www.nab.com.au/cookies for more information). Sometimes we collect your personal information from third parties. You may not be aware that we have done so. If we collect information that can be used to identify you, we will take reasonable steps to notify you of that collection.
How we collect your information from other sources
Sometimes we collect information about you from other sources. We may collect information about you that is publicly available (for example from public registers or social media), or made available by third parties. We do this where:
We may use or disclose information about you in order to combine the information that we hold with information collected from or held by external sources.
When the law authorises or requires us to collect information
We may collect information about you because we are required or authorised by law to collect it. There are laws that affect financial institutions, including company and tax law, which require us to collect personal information. For example, we require personal information to verify your identify under Commonwealth Anti-Money Laundering law.
NAB believes that by applying for this account, you’re not a US citizen or tax resident. If you are a US citizen or tax resident, you’ll need to advise NAB by calling 1300 550 316 between 9am and 5pm (AEST/ADST) Monday to Friday.
How we use your information
We use your information to provide you with the product or service you asked for, and for other purposes including:
You can let us know at any time if you no longer wish to receive direct marketing offers from the Group. We will process your request as soon as practicable. Where you have subscribed to something specific (like to hear from one of our sponsored organisations) then these subscriptions will be managed separately. If you no longer wish to receive these emails click the unsubscribe link included in the footer of our emails.
How we use your credit information
In addition to the ways for using personal information mentioned above, we may also use your credit information to:
What happens if you don’t provide your information to us?
If you don’t provide your information to us, we may not be able to:
Sharing your information
We may share your information with other organisations for any purposes for which we use your information.
Sharing with the Group
We may share your personal information with other Group members. This could depend on the product or service you have applied for and the Group member you are dealing with. Where appropriate we integrate the information we hold across the Group to provide us with a complete understanding of you and your needs, including giving you access to the Group or related products you hold via Internet Banking.
Sharing with the MLC Limited
NAB acts for MLC Limited ABN 90 000 000 402 (described as MLC Life Insurance) in distributing their life insurance products. MLC Limited is no longer part of the NAB Group of companies. We may exchange personal information with MLC Limited or their service providers in order to administer and manage your life insurance products that are issued by them. We may also need to share information so as to ensure:
Some of the information exchanged will be stored and visible within NAB Group customer databases; with some of these databases being accessible to MLC Limited for a transition period. All information stored in these databases is subject to this privacy policy as well as NAB Group’s security procedures and controls.
Sharing at your request
We may need to share your personal information with your representative or any person acting on your behalf (for example, financial advisers, lawyers, settlement agents, accountants, executors, administrators, trustees, guardians, brokers or auditors); and your referee such as your employer (to confirm details about you).
Sharing with Credit Reporting bodies
When we’re checking your credit worthiness and at other times, we might share information about you with credit reporting bodies. When we give your information to a credit reporting body, it may be included in reports that the credit reporting body gives other organisations (such as other lenders) to help them assess your credit worthiness.
Some of the information that we give to credit reporting bodies may reflect adversely on your credit worthiness, for example, if you fail to make payments or if you commit a serious credit infringement (like obtaining credit by fraud). That sort of information may affect your ability to get credit from other lenders.
With your consent, personal information may also be shared with credit reporting bodies or other approved third parties who are authorised to assess the validity of identification information. These checks help us verify whether your identity is real and are not a credit check.
Sharing with third parties
We may disclose your personal information to third parties outside of the Group, including:
Sharing outside of Australia
We run our business in Australia and overseas. We may need to share some of your information (including credit information) with organisations outside Australia. Sometimes, we may need to ask you before this happens. You can view a list of the countries in which those overseas organisations are located at www.nab.com.au/privacy/overseas-countries-list/
We may store your information in cloud of other types of networked or electronic storage. As electronic or networked storage can be accessed from various countries via an internet connection, it’s not always practicable to know in which country your information may be held. If your information is stored in this way, disclosures may occur in countries other than those listed.
Overseas organisations may be required to disclose information we share with them under a foreign law. In those instances, we will not be responsible for that disclosure.
We will not share any of your credit information with a credit reporting body, unless it has a business operation in Australia. We are not likely to share credit eligibility information (that is, credit information we obtain about you from a credit reporting body of that we derive from that information) with organisations unless they have business operations in Australia. However in the event NAB seeks assistance from a related company to manage defaulting loans, we may need as a consequence to disclose credit eligibility information to the Bank of New Zealand, located in New Zealand. We are likely to share other credit information about you with organisations outside Australia. A list of countries is which those overseas organisations are located is set out above.
Accessing your Information
You can ask us to access information that we hold about you. You have special rights to access credit information we obtain about you from a credit reporting body or that we derive from that information. You can find out how to access your information (including your credit eligibility information) by reading our Privacy Policy, available at www.nab.com.au/privacy or by calling 13 22 65 and asking us for a copy.
Correcting your Information
You can ask us to correct information we hold about you. You have special rights to correct your credit information. You can find out how to correct your information (including your credit information) by reading our Privacy Policy, available at www.nab.com.au/privacy or by calling 13 22 65 and asking us for a copy.
Complaints
If you have a complaint about a privacy issue, please tell us about it. You can find out how to make a complaint (including special rights for credit information complaints) and how we will deal with these complaints, by reading our Privacy Policy, available at www.nab.com.au/privacy or by calling 13 22 65 and asking us for a copy.
Contact Us
We care about your privacy. Please contact us if you have any questions or comments about our privacy policies and procedures. We welcome your feedback.
You can contact us by:
Contact details for Credit Reporting Bodies
When we’re checking your credit worthiness and at other times, we might share information about you with credit reporting bodies. The contact details of those credit reporting bodies are set out below. Each credit reporting body has a credit reporting policy about how they handle your information. You can obtain copies of these policies at their websites.
illion
Attention Public Access Centre illion PO Box 7405 St Kilda Rd, VIC 3004
Experian Australia
Equifax Australia Information Services and Solutions Pty Limited
Contact credit reporting bodies if you think you have been the victim of a fraud
If you believe that you have been or a likely to be the victim of fraud (including identity fraud), you can request a credit reporting body not to use or disclose the information they hold about you. If you do this, the credit reporting body mustn’t use or disclose the information during an initial 21 day period without your consent (unless the use or disclosure is required by law). This is known as a ban period.
If, after the initial 21 day ban period, the credit reporting body believes on reasonable grounds that you continue to be or are likely to be the victim of fraud, the credit reporting body must extend the ban period as they think reasonable in the circumstances. The credit reporting body must give you a written notice of the extension.
Contact credit reporting bodies if you don’t want your information used by them for direct marketing/pre-screening purposes
Credit reporting bodies can use the personal information about you that they collect for a pre-screening assessment at the request of a credit provider unless you ask them not to. A pre-screening assessment is an assessment of individuals to see if they satisfy particular eligibility requirements of a credit provider to receive direct marketing. You have the right to contact a credit reporting body to say that you don’t want your information used in pre-screening assessments. If you do this, the credit reporting body must not use your information for that purpose.
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