What to know before sending money overseas with NAB Internet Banking
- You can only send international funds transfers through NAB Internet Banking once you’ve registered for SMS Security and have Pay anyone enabled in your NAB account.
- There’s no limit on the number of international transfers you can make, as long as the total amount you’re transferring is under your daily limit.
- You can’t send an international funds transfer to or from a credit card account.
- There is no fee for international money transfers sent by NAB Internet Banking when made in foreign currency. If you are transferring Australian dollars the fee is $30.
- Before completing the transaction, you need to have enough money to cover both the fee and transaction amount.
- The default daily limit for an international funds transfer through NAB Internet Banking is $5,000. If you’d like to transfer funds greater than this limit, please contact us on 1300 651 656 between Monday to Friday, 7:00am to 9:00pm (AEST/AEDT) and Saturday to Sunday, 9:00am to 6:00pm (AEST/AEDT).
Real-time exchange rates
A real-time exchange rate updates every 60 seconds based on the domestic and foreign currency value.
When you’re creating a real-time transfer in NAB Internet Banking, you’ll see that the first page of your transfer will still show you the indicative rate.
If you're making an international transfer from 7.30am Monday through to midnight Friday you'll usually see the real-time rate on the final page before you submit your transfer.
How to accept the real-time rate
You'll have 60 seconds to accept the rate offered before it expires. Click Accept rate and transfer. (If the rate expires, just click the Refresh exchange rate button.)
When real-time rates aren't available
Real-time rates aren't available:
- outside of Monday 7:30am to Friday midnight
- on weekends or public holidays.
Real-time rates also aren't available for future-dated or periodic transfers because we use the exchange rate available on that day.
When real-time rates aren’t available, we will use the exchange rate available on the next business day. If you don’t have sufficient available funds at the time of processing, the payment may be rejected.
Currency cut-off times
The below are cut-off times for your payment to be processed that same day. If you submit your payment after the below time it will be processed on the next available business day.
|Cut-off (AEST/AEDT)||Country and currency|
Details required to make a transfer
- Their full name and street address (not a PO Box).
- The International Bank Account Number (IBAN) or bank account number.
- A Society of Worldwide Interbank Financial Telecommunications (SWIFT) code or Bank Identifier Code (BIC) or, if not available, the full bank address.
- Any other information they have, such as sort codes or routing code.
SWIFT codes and Bank Identifier Code numbers explained
A SWIFT code is the international standard used to identify a bank.
A BIC is also an international standard for identifying banks worldwide. It is also known as a SWIFT address. A BIC consists of a unique combination of letters and numbers in either 8 or 11 characters. This code identifies the bank’s name, the country it’s based in and the address of the branch.
When entering the beneficiary’s bank if you’ve been provided with its BIC, please insert it in the ‘Beneficiary Bank SWIFT/BIC Code’ field. If you don’t know the BIC you need to insert the full name of the beneficiary’s bank, its full street address and its country in the relevant fields.
What is an IBAN and when do you use it
An IBAN is used by many countries to identify a customer’s bank account. An IBAN begins with a two-letter country code, followed by a combination of letters and numbers up to a maximum of 34 characters. The length of an IBAN will change based on the country. Payments to countries who have adopted the IBAN must include an IBAN in the ‘Beneficiary’s Account Number’ or ‘IBAN Number field’
An example of an IBAN from the United Kingdom would look like:
GB 19 LOYD 3096 1700 7099 43
In this IBAN:
- GB is the country code
- 19 is the check number
- LOYD 3096 is the bank
- 1700 7099 43 is the sort code and account number.
You should be able to obtain an IBAN from your beneficiary. Their bank can provide them with this upon request.
- Login to NAB Internet Banking with your NAB Identification number (ID) and NAB Internet Banking password.
- Open the Transfer & Pay menu and select ‘International transfer’.
- Select the linked account you are transferring funds out of from the From account drop-down list in the ‘Account details’ section.
- If you're paying someone you've saved previously, select them from the Saved beneficiary drop down box.
- Select the country you wish to transfer funds to, followed by the currency. The currency will default to the preferred currency of that country. You can select another currency from the drop-down box, if required.
- Enter the amount of funds you wish to transfer. An indicative rate will then display. The international transfer fee will be displayed in this section.
- There is no need to select Beneficiary or Remitter to pay overseas bank fees as NAB will absorb all overseas bank fees for international payments via NAB Internet Banking.
- Enter the beneficiary bank details into the Beneficiary bank details section including the account number or IBAN of the beneficiary.
- Enter the beneficiary's details into the Beneficiary's details section.
Helpful hint: If you've previously saved beneficiary details, then these will be displayed. Otherwise, please provide the Beneficiary Name and Address and Country in which the Beneficiary is located in the appropriate fields.
- Enter a description for the transfer which will appear on your statement.
- Select either a ‘one-off transfer’ or a ‘periodic transfer’ and select the transfer date.
- If you haven't accepted the terms and conditions previously please read through them, then click the radio button. Click ‘Next’.
- Check that your international funds transfer instruction details are correct then enter in your security code and click ‘Next’.
- Confirm the foreign exchange rate provided. A real-time exchange rate will display during business hours and an indicative foreign exchange rate will be provided outside of business hours.
- Click on ‘Accept and transfer’.
- The receipt for international transfer page displays with the details of your funds transfer instruction. You can print the acknowledgement details as a record of your transfer instruction.
Helpful hint: To save new beneficiary details, in the acknowledgement screen, press the ‘Add to my beneficiary list’ button. Enter a nickname for your beneficiary then press ‘Next’. Confirm the details and press ‘Save’.
- Once submitted it will show a processing status. Once the payment has been processed by nab and sent to the overseas bank the status will be updated to paid. Or alternatively, if unable to be completed it will have a rejected status.
Helpful hint: A transfer of funds is usually received within 24 hours by the beneficiary's bank. If the overseas bank is not the beneficiary's, it may take longer to forward funds to the beneficiary's bank. There may be other circumstances outside of our control which may also cause additional delays.
Setting up a periodic or future-dated international funds transfer
You have the ability to set up periodic international funds transfers with the option to have your payment processed weekly, fortnightly, monthly, or quarterly.
You can also select a date (up to 18 months in advance) to send money overseas in the future. For both periodic and future dated international funds transfers, the foreign exchange rate at the time of the transaction will be applied and confirmed to you via secure email.
Fees charged for a periodic or future dated transfer
When you create a periodical payment the fee will display as the standard fee. Fees will be charged at the time of processing.
For future dated payment you’ll be advised a fee at the time you create the payment. However, the fee charged at the time the payment is processed will be the lowest fee available on that day.
Countries you can send international funds transfers to
See the countries you can send funds to by selecting the drop-down boxes.
- American Samoa
- Antigua and Barbuda
- Bouvet Island
- British Indian Ocean Territory
- Brunei Darussalam
- Burkina Faso
- Cape Verde
- Cayman Islands
- Central African Republic
- Christmas Island
- Cocos Islands
- Congo, Democratic Republic
- Cook Islands
- Costa Rica
- Cote D’Ivoire
- Czech Republic
- Dominican Republic
- El Salvador
- Equatorial Guinea
- Falkland Islands
- Faroe Islands
- French Guiana
- French Polynesia
- French Southern Territory
- Heard and McDonald Islands
- Hong Kong
- Isle of Man
- Lao People’s Democratic Republic
- Marshall Islands
- New Caledonia
- New Zealand
- Norfolk Island
- Northern Mariana Island
- Papua New Guinea
- Puerto Rico
- Saint Helena
- Saint Lucia
- San Marino
- Sao Tome and Principe
- Saudi Arabia
- Sierra Leone
- Solomon Islands
- South Africa
- South Korea
- Sri Lanka
- St Kitts and Nevis
- St Pierre and Miquelon
- St Vincent
- Svalbard and Jan Mayen
- Trinidad and Tobago
- Turks and Caicos Islands
- United Arab Emirates
- United Kingdom
- United States of America
- US Minor Outlying Islands
- Vatican City
- Virgin Islands (GB)
- Virgin Islands (US)
- Wallis and Fortuna
- Western Sahara
Making an international funds transfer at a NAB branch
Customers who aren’t registered for NAB Internet Banking or NAB Connect and would like to conduct an international funds transfer can do this by visiting their local NAB branch or by contacting their banker. When making an international funds transfer at a branch you’ll need to bring:
- your photo identification
- the full name of the beneficiary receiving funds
- the location of where the funds will be sent
- the street address of the beneficiary
- the name of the receiving bank
- the SWIFT code of the receiving bank
- beneficiary account number (if sending funds to Europe we will require the IBAN number not the account number of the beneficiary).
What should I do if my beneficiary claims that they have not received the transferred funds?
To trace, cancel or amend an online international funds transfer, you need to send a secure message through NAB Internet Banking with the full details of the transaction. We'll receive your message and commence the investigation process.
You can learn more about locating payments by viewing our guides on receiving money overseas and payment transfers.
Unexpected fees on mobile and internet banking international payments
We use trusted partner banks to send international payments. For mobile and internet banking transfers, even though we request partners do not deduct any additional fees, it may happen outside of our control. In this case, we will reimburse additional fees deducted by a partner bank.
Help and support for international payments
For further support you can call the Internet Banking Support Team on 1300 651 656 in Australia, (or +61 3 8641 9886 from overseas) Monday to Friday, 7:00am to 9:00pm (AEST/AEDT) and Saturday to Sunday, 9:00am to 6:00pm (AEST/AEDT).
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