NAB Classic Banking transaction account

Pay $0 monthly fees and enjoy convenient access to your money with Apple Pay, Google Pay and Samsung Pay available.

The NAB Classic Banking account is a transaction account that you can deposit money into, such as your salary, to then use for day-to-day purchases. It has no monthly account keeping fees. It also offers a range of ways to make payments, including via your NAB Visa Debit card, Apple Pay, Google Pay, Samsung Pay, direct debit and BPAY.

$0

Account keeping fee

$0

ATM withdrawal fee

$5

Overseas ATM withdrawal fee

3%

Overseas transaction fee

of transaction value

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Details

Product NameNAB Classic Banking
Monthly account fee$0
Card accessVisa
ATM Withdrawal Fee$0
International ATM Fee$5
International transaction fee3%
Monthly deposit required to waive account feeN/A
Contactless PaymentsGoogle Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay

Review by


Alison Banney is the banking and investments editor at Finder. She has written about finance for more than 8 years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

This account allows you to deposit money such as your salary and use it for day-to-day spending and transactions. NAB is the only Big Four bank that doesn’t charge any monthly account keeping fees on its personal transaction account. You don’t need to meet a monthly deposit requirement either. There’s just no account keeping fee to pay.

While this account has no fees for everyday transactions in Australia, there are some fees to watch out for if you’re planning to use the card overseas. You’ll pay a $5 ATM withdrawal fee at non-NAB ATMs overseas and an international transaction fee of 3% p.a. on transactions where a currency conversion is required. If your main priority is a card that you can take when travelling, you can avoid these fees with a few other bank accounts in the market.

If you're looking for an account with flexible payment options, this account offers Apple Pay, Google Pay and Samsung Pay so you can make contactless payments with your phone, watch or wearable device. Although it’s been around for a few years now, there are still several major banks that don’t yet offer Apple Pay. It’s also worth noting that NAB has a lot of bank branches in many locations across the country, which is helpful if you do a lot of your everyday banking in-branch.

Key features

$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.


How to apply

Eligibility

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 meet before continuing to the secure application page:

  • 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 to be considered for a NAB Classic Banking transaction account.

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71 Comments

    Default Gravatar
    Mary-Ann
    December 3, 2021

    Hi there, we are a child care centre and a certain budget is allocated per teacher each term. We have had trouble using Mastercard prepaid cards. Is there a way to have an account with several prepaid Visa cards, that can be topped up each term? Thanks, Mary-Ann.

      Avatarfinder Customer Care
      Alison
      December 11, 2021

      Hi Mary,

      With NAB Classic Banking Account, you can only get 2 debit cards. You may like to consider getting a business account instead where you can get multiple cards.

      Thanks,
      Alison

    Default Gravatar
    Jagdish
    September 30, 2021

    I am doing a Master’s from Deakin University. Due to Covid, I couldn’t come to Australia and doing online studies from India. My professor has invited me to work on his project online from India. He wants my account details in Australia, for making payment for my services. Since I am not physically present in Australia, I wonder will I be able to open an account in Australia. Is it possible for me to open an account in India? Kindly advise.

      Avatarfinder Customer Care
      Alison
      October 22, 2021

      Hi Jagdish,

      Generally Australian banks need you to be in the country to open an account. With this in mind, you can try to find international banks that have branches or offices located in India. Look for banks that have presence both in India and Australia. If you find any, get in touch with them and ask them if they can help you option an account in Australia while you’re in India.

      Alternatively, the person sending you money can use an international transfer (there are additional fees for this) or use a money transfer service. You can look at the different money transfer services in our guide here.

      Regards,
      Alison

      Avatarfinder Customer Care
      Alison
      October 6, 2021

      Hi Jagdish,

      Generally Australian banks need you to be in the country to open an account. With this in mind, you can try to find international banks that have branches or offices located in India. Look for banks that have presence both in India and Australia. If you find any, get in touch with them and ask them if they can help you option an account in Australia while you’re in India.

      Alternatively, the person sending you money can use an international transfer (there are additional fees for this) or use a money transfer service. You can look at the different money transfer services in our guide here: https://www.finder.com.au/international-money-transfers/send-money-overseas

      Regards,
      Alison

    Default Gravatar
    Raylee
    May 3, 2019

    How to use cardless cash with bank BOQ?

      Avatarfinder Customer Care
      Jeni
      May 5, 2019

      Hi Raylee,

      Thank you for getting in touch with Finder.

      Currently, CBA, Westpac, St. George, Bank SA, and Bank of Melbourne offer cardless cash in Australia. Please contact BOQ directly for further info on this matter.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    Craig
    January 22, 2019

    I want to invest $213000 on term deposit for 6 or 9 months. What is the best interest rate you can give me and how much interest on maturity for both terms?

      Avatarfinder Customer Care
      Joshua
      January 27, 2019

      Hi Craig,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      I understand you want to know more about term deposit of NAB. If this is the case, please go to this page where we list the term deposit accounts of NAB. On that page, you will see a table that compares the term deposit accounts of NAB. According to that table, the interest rate for six months is 2.10% and for 9 months, it’s 2.40%.

      Please visit that page to learn more. Please make sure that you’ve read the relevant T&Cs or PDS of the term deposit products before making a decision. Moreover, check the eligibility requirements as well and consider whether the product is right for you.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    Kamarul
    November 26, 2018

    How do I apply for bank account if I don’t have permanent address yet. Already an Australian PR.

      Avatarfinder Customer Care
      Jeni
      November 26, 2018

      Hi Kamarul,

      Thank you for getting in touch with finder.

      As per the application requirements, so long that you currently live in Australia with a verifiable physical address, you may proceed with your NAB Classic Banking Transaction Account. Kindly click on the Go to site green button to be redirected to NAB’s official page. Please make sure that you’ve read the relevant T&Cs or PDS of this account to help consider whether the savings account product is right for you.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

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