We process payments on business days. There are certain cut off times that apply. If the payment is received before the cut off time, we generally process the payment on the business day we receive it. However, if a value date is specified by the instructing/sending bank, we will process it on that date if it is later than the date we receive the payment.
Please note that regardless of the currency of a payment, delays can occur due to public holidays or other disruptions to the general banking system. This is especially true of New York in the United States of America.
There are other reasons we may not be able to process your payment on the expected date due, some examples are:
- the payment is for a significant amount and we do not have specific instructions of what action we should take where the payment we have received is in a different currency to the account the payment is to be made into.
- the payment doesn’t meet NAB’s policies and/or regulatory guidelines associated with Anti-Money Laundering & Counter Terrorism Financing requirements.
- funds not being available from the sending bank to NAB
Where NAB is unable to process a payment on the expected date, we may not necessarily advise you of the delay.
NAB may refuse to accept an inward international telegraphic transfer. Although NAB may not notify you of this, we will advise the sending bank.