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.
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.
There is a 3.00% p.a. 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.
- $0 Overdrawn fees
- Tap and Pay with your Android Phone using NAB Pay
- $0 Account keeping fees
- Protected by NAB Defence with Visa Zero Liability
- NAB Pay not available for iPhone
- 3% international transaction fees apply
- $5 Overseas ATM withdrawal fee
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?
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% p.a. 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 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.