Track and organise your savings with Saving Spaces

No. All your Spaces are linked to one eligible savings account. They are a way to organise the account balance into savings goals.

NAB Classic Banking is a transaction account for everyday spending. Spaces currently support eligible savings accounts only because the feature is designed for setting aside and tracking savings.

No. Interest is calculated on the total balance of your linked savings account, subject to the account’s applicable interest rate and conditions.

The balance of your linked account can be allocated to your Spaces so you can divide your savings amongst your different goals and priorities.

There are several ways you can transfer money in Spaces:

• One-off transfer from your nominated savings account to a Space.
• One-off transfer from a Space to your nominated Savings account.
• One-off transfer from one Space to another Space.
• Using a Sorting rule where money added to your linked account is automatically moved into Spaces based on rules you set.

Your linked account must have funds available in order to move these into your Spaces.

If there is a debit on the nominated savings account, the amount gets debited from the unallocated funds in the linked savings account first. The amount will then be debited from the individual Spaces (in the order of latest creation date) until the amount is fulfilled.

You can continue to transfer money to your Space after you have reached your target. Your Space will remain active until you close them individually.

You cannot transfer money to multiple Spaces at once, unless this occurs through a Sorting rule. Recurring transfers directly to Spaces are currently unavailable. A recurring transfer into the linked account can be paired with a Sorting rule to create automated allocations into Spaces.

When money leaves your linked savings account, we’ll first use any money that isn’t allocated to a Space. If there isn’t enough unallocated money to cover the amount, we’ll reduce the balance shown in your Spaces, starting with the Space you created most recently.

This isn’t a separate movement of money. It simply makes sure the amounts shown in your Spaces reflect the money remaining in your linked savings account.

• You can only have one active rule at a time. Choose either:
  • Equal split – divide incoming funds evenly across all Spaces; or
  • Custom allocation – set specific percentages for each Space (e.g., 50% Holiday, 30% Emergency, 20% Car).
• If you’re already using Spaces, any existing money won’t be redistributed using a new Sorting Rule.
• Set up a recurring transfer into your Spaces account to automate your allocation rule.
• Edit or turn off your sorting rule anytime in the NAB app Settings menu.
• If you add or remove a Space, your Sorting Rule will adjust automatically.
• Even with a rule set:
  • You can still move money between Spaces freely.
  • You can move money from the linked account into a Space.
  • You can move money out of a Space back to the linked account — this does not trigger the rule; the money simply becomes unallocated.

If you want to close a Space, it must have zero funds in it. You can achieve this by transferring the remaining funds from the Space to your nominated savings account. After this, you can follow these instructions to close the Space.

1.  Select the Space you’d like to close.
2.  Select Edit.
3.  Select Close this Space.

Once a Space is closed, it will no longer be viewable or show on the Your Spaces page.