NAB Classic Banking

NAB Classic Banking

Maximum Variable Rate

0.01

Account Keeping Fee

0
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You can look forward to $0 monthly fees with convenient, unlimited access to your money – no matter where you are.

  • $0 monthly fees, $0 overdrawn fees, $0 minimum deposit
  • Tap and Pay with your Android Phone using NAB Pay
  • Unlimited access to NAB and RediATMs, the 2nd biggest ATM network in Australia

Product details

Manage your money effectively with a NAB Class banking account. It doesn't charge monthly fees with the flexibility of making withdrawals and deposits whenever you like. You can enjoy the freedom of using your NAB bank account however you like. The introduction of NAB Pay for Android means you'll never have to carry your card around again.

The NAB ATM network also includes the RediATM network. In total it's ranked as Australia's second biggest network of ATMs so you'll never be stranded without funds.

Product Name
NAB Classic Banking
Monthly Account Fee
$0
Debit Card Access
Visa
ATM Withdrawal Fee
$0
Interest Rate p.a.
0.01%
Details
No monthly account fees, ever. Free use at over 3,400 NAB and RediATMs Australia wide and $0 overdrawn fees.
Joint Application
Yes

What are the features of the NAB Classic Banking account?

NAB Classic Banking provides you with a number of features and benefits that make it worth a second glance when searching for the right transaction account.

$0 Monthly account keeping fees

NAB will never charge your transaction account a monthly service fee. It is the only big four bank that won't charge you monthly fees regardless of how much you deposit.

$0 Minimum deposit requirement

There are no minimum monthly deposit requirements with the Classic banking account.

$0 Overdrawn fees

You won't need to worry about over-drawing on your account or dishonour fees. Though if you have an overdraft facility linked the funds will come out of your overdraft.

Linked Visa debit card

The Classic account comes with a NAB issued Visa debit card. This card can be used to make purchases at locations where debit cards and Visa credit cards are accepted forms of payment.

Contactless payments - Visa payWave

This debit card feature allows you to make purchases of under $100 without entering your pin. Simply wave the card at a terminal containing the Visa payWave symbol to make your purchase. Find out why contactless payments are safe here.

Your protection against fraud

NAB Defence is NAB's security promise to you – you'll also receive Visa Zero Liability and Verified by Visa which means you'll never be held liable for unauthorised transactions as long as you follow it's terms and conditions.

Tap and Pay with your Android phone

Using this is just as secure as using your NAB Visa debit card. To get started you'll need: the latest version of the NAB app for Android, a mobile running Android 4.4 (KitKat) with built in NFC. All you'll need to do is click on the NAB pay button at the bottom of the app.

For payments more than $100, you'll be asked to enter your PIN. This feature is not available for iPhones.

Unlimited access to your money online, over the phone or within a branch

You will have unlimited access to your money through online and phone banking, EFTPOS or at a branch. You can also download the NAB App, where you can check your balance instantly with NAB Quick Balance on your phone.

Unlimited NAB ATM and RediATM withdrawals

Withdrawals made at NAB ATMs or RediATMs are unlimited and free of charge. If you must use an ATM outside of this network, the issuing bank may charge you a fee for the service. The NAB and RediATM network is the second, biggest network in Australia.

Optional linked overdraft account

If you qualify, you could add a personal overdraft to your account to protect you if your purchases are more than the available balance.

Using your bank account overseas or online shopping

If you use your Visa debit card at an ATM outside of Australia you will be charged $5 for each withdrawal plus the currency conversion fee stated below. You'll be charged $1 for any balance enquiries. Other fees could also be applied by the financial institution that owns the ATM.

Currency conversion

There is a 3.00% charge on the Australia dollar amount for any purchases that is made in a currency other than the Australian dollar. This usually occurs when you're online shopping and purchasing in another currency.

Link to a NAB savings account

You can link to a NAB savings account to instantly transfer funds to and from each account.

Pros
  • $0 monthly account keeping fees
  • $0 overdrawn fees
  • $0 minimum deposit
  • Use the NAB app to check your balance instantly
  • Optional personal overdraft
  • Linked Visa debit card
  • Protected by NAB Defence with Visa Zero Liability and Verified by Visa
Cons
  • Fees apply at non-partner ATM
  • NAB Pay not available for iPhone

How do I apply for the NAB Classic Banking?

If you like the idea of a simple to manage transaction account that does not charge monthly fees, then click ‘go to site’ to begin filling out your application for the NAB Classic account. There are some eligibility requirements that you should make sure that you meet before continuing to the secure application page:

Eligibility to apply online

  • Your age. You must be at least 18 years old if you want to apply for the NAB Classic banking account online.
  • Your residency. You must be currently living in Australia with a verifiable physical address in order to be considered for a NAB Classic banking transaction account.
  • Are you a United States citizen? If you are a citizen of the United States, NAB is required to obtain your tax identification number or social security number before they may open an account on your behalf.

Documents for your online application

Once you determine that you are eligible for a Classic transaction account from NAB, gather the following documentation and continue to the application page. These will help in filling out the forms properly and quickly:

  • Identification documents. If you are already an account holder with NAB, then a driver’s licence or passport should serve as sufficient identification. If not an existing customer, you will need to visit a NAB branch in order to complete the mandatory 100 points of identification.
  • Tax File Number (TFN). Although not required by law, by not providing NAB with your TFN at the time of application you could be subjecting your account to the maximum marginal tax rate plus the Medicare levy.
  • Account information. If you have an account with NAB already, you should supply them with the account number or your customer number when completing the application.

What happens after I apply?

If prepared, it should take less than five minutes to complete your application online. After it has been submitted, it will be reviewed within one minute, and you will be notified if any additional steps need to be taken before they can open your account.

Once the account has been opened, you will receive an e-mail as well as a welcome pack by regular post. Your Visa debit card will be mailed separately, or can be picked up at your local NAB branch.

What if I'm a non-resident or not eligible to apply online?

If you're moving to Australia, you can open a NAB account before you arrive. Please get in touch with NAB Migrant Services to get your application started today. If none of the above situations apply to you, please get in touch with NAB directly to discuss your options.

Do you accept a carer pension & carer allowance as a income if I needed a small house loan or car as I own my house my husband is on a disability pension for his back?

If you are looking for home loan or personal loan with NAB, we suggest having a look at this page. They’ll explain what options are available to you as well as your eligibility to qualify for a loan. However, you may be interested to read more about pensioner loans.

What fees or charges are applicable on overseas purchases and atm withdrawals using a nab VISA debit card? Can card be used in atms and purchases in cuba? (some cards have parent company or link to company in usa, which then causes problems or cannot be used in cuba.

For purchases, the foreign currency transaction fee is 3.00% of the Australia dollar transaction amount. For ATM withdrawals, the above fee applies plus $5 per withdrawal, plus the local ATM operator may charge its own fee. According to forums, the NAB Visa Debit card can be used in Cuba.

Is this available to a non resident but a frequent visitor with a permanent address?

NAB can assist you with setting up an account, though it’s recommended that you apply within a branch.

I want to open this type of account, but I am a high school student, and I understand I will have to go to a branch etc, but I was wondering what sort of things will help me open it? I have a student I.D card for signing in late, going early and for the school library etc, my birth certificate, what else will i need? I have a woolworths money card? will that help? can someone tell me what I would have that can help me reach the 100 points for the 100 point check?

100 points of ID usually involve submitting a number of documents worth different points values. Usually you’ll have to supply at least one primary document, which can include a birth certificate, passport or driver’s licence. You’ll also usually have to submit secondary documents, which include student cards, bank statements, medicare cards, EFTPOS cards and other documents such as school records. For more information about the requirements NAB specifically has please contact them directly.

Can I set 100% offset link from my classic banking account to mortgage account.? If I can, so how do I set it? And are there any fee for this a/c?

This can be done by speaking to NAB directly, provided you have an NAB Tailored Home Loan or NAB Portfolio Facility. There are no fees for this account if the account is your Classic Banking account.

I need to activate my visa debit card can you’s email me an activation code? because I live in a remote area with no reception for the sms.

Please be mindful that finder.com.au is is a comparison service, we’re not affiliated with NAB. Please contact NAB directly to enquire about this.

Can I pre order a cash withdrawal online?

You can schedule transfers online – you can withdraw cash at anytime from an ATM but you’ll need to make sure you have enough funds in your NAB Classic banking account.

To get a NAB Visa Debit card am I required to open an account with the NAB Bank?

Yes, if you wish to use a NAB Visa Debit card you will need to hold an eligible NAB transaction account.

I’m thinking of applying for a NAB classic banking account, I would like to know if there is any joining or start up fee for this account please. I do have a credit card with nab?

There is no opening account fee for the NAB Classis Banking.

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22 Responses to NAB Classic Banking Transaction Account

  1. Default Gravatar
    Erin | June 22, 2016

    Hi, could you tell me if my card (a replacement visa debit card) is already activated and has the same pin as the one i needed to replace. (The original one got swallowed after I accidentally put the pin in wrong three times – its ok I do remember it now…)

    • Staff
      May | June 24, 2016

      Hi Erin,

      Thanks for reaching out. Just to confirm, you’ve come through to finder.com.au we are an Australian financial comparison website and general information service, not actually NAB.

      As we do not have access to your account, you’d be best to contact NAB directly to follow up your request for the activation of your replacement card. I’ve sent NAB’s contact details to your email.

      Cheers,
      May

  2. Default Gravatar
    Tania | June 3, 2016

    Received my new nab visa debit card do I need to activate it or is it already activated

    • Staff
      Shirley | June 3, 2016

      Hi Tania,

      Thanks for your question.

      Within 5 days of your account opening, you’ll receive your new debit card by post and your card PIN will arrive a few days later.

      After your PIN has arrived, the letter will contain instructions on how to activate it.

      Hope this helps,
      Shirley

  3. Default Gravatar
    BNWH | May 30, 2016

    Does this account provide online or mobile app for doing transfers, etc?

    • Staff
      Shirley | May 30, 2016

      Hi BNWH Pty Ltd,

      Thanks for your question.

      Yes this account provides both online and mobile apps for doing transfers, etc

      Hope this helps

  4. Default Gravatar
    Barry | May 27, 2016

    Disatisfied with current bank

    Want to move my high interest account to another bank

    How can this be done electronic
    way

  5. Default Gravatar
    Helen | May 11, 2016

    Does this joint account come with two cards – or just one?

    • Staff
      Shirley | May 11, 2016

      Hi Helen,

      Thanks for your question.

      If you open the NAB Classic Banking as a joint account, it will come with two debit cards.

      Hope this helps.

  6. Default Gravatar
    Jarrad | April 26, 2016

    Hi,
    I was wondering if you can open or create indivdual ‘sub accounts’ in your main savings account, that i can move funds into for budget / savings / payments purposes? Thanks

    • Staff
      Shirley | April 27, 2016

      Hi Jarrad,

      Thanks for your question.

      While the NAB Classic Banking doesn’t support sub-accounts, you can open more than one NAB Classic Banking to help you organise your budget.

      Hope this helps.

  7. Default Gravatar
    Sue | March 20, 2016

    Are there fees for transferring funds between Nab classic a/c to an online savings a/c of a different financial institution

    • Staff
      Shirley | March 21, 2016

      Hi Sue,

      Thanks for your question.

      There are no fees if you electronically transfer funds between the NAB Classic account to an Online Savings Account of a different financial institution.

  8. Default Gravatar
    Eric | March 7, 2016

    I would like to transfer money from an overseas account into my NAB account. Do you charge for this?

    • Staff
      Shirley | March 8, 2016

      Hi Eric,

      Thanks for your question on finder.com.au – a third party comparison service.

      NAB could charge up to $35 for receiving an international money transfer service (unconverted).

      Hope this helps.

  9. Default Gravatar
    Mel | January 14, 2016

    Can I activate my card online ?

    • Staff
      Shirley | January 14, 2016

      Hi Mel,

      Thanks for your question.

      When your debit card arrives in the mail it will come with instructions on how to activate it. Typically you can do it online or over the phone.

      Cheers,
      Shirley

  10. Default Gravatar
    Tze | January 13, 2016

    can oversea student (non-resident) open this classic banking account? can this account remain if the course completed?

    • Staff
      Shirley | January 14, 2016

      Hi Tze,

      Thanks for your question.

      Yes overseas students (non-residents) can open this account. However, whether it remains open after you’ve finished your course will up to NAB.

      Cheers,
      Shirley

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