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NAB Classic Banking Transaction Account

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

Manage your money effectively with a NAB Class banking account with no monthly account keeping fees to worry about. Enjoy the freedom of using your NAB bank account to pay however you'd like; with Apple Pay, Google Pay and Samsung Pay available you can make secure contactless payments with your phone or smartwatch.

$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
Internatonal ATM Fee$5
International transaction fee3%
Monthly deposit required to waive account feeN/A
Contactless paymentsGoogle Pay, Samsung Pay

Expert review

Alison Banney

Review by


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

Expert review

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 also 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 make sure that you 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 in order to be considered for a NAB Classic banking transaction account.

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66 Comments

  1. 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

  2. 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

  3. 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

  4. Default Gravatar
    Mandy
    September 26, 2018

    Does NAB offer an account with no fees that allows one to have sub accounts to save for a few different things?

    • Avatarfinder Customer Care
      Jeni
      September 27, 2018

      Hi Mandy,

      Thank you for getting in touch with finder.

      Please see this PAGE for your sub account enquiry. It is also best to organise an appointment to speak to a NAB home loan specialist to set up a NAB Private Portfolio Sub Accounts. You may see other savings account options with NAB on this PAGE.

      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

  5. Default Gravatar
    Nathan
    July 9, 2018

    Can I transfer money from my NAB account to a friend’s BOQ account.? Thanks

    • Avatarfinder Customer Care
      Joanne
      July 9, 2018

      Hi Nathan,

      Thank you for contacting finder.

      Yes, you may transfer money from your NAB account to another bank account.
      You may also check this page for a step-by-step guide on how to transfer money to another bank account.

      Hope this helps.

      Cheers,
      Loraine

  6. Default Gravatar
    probie101
    March 7, 2018

    can I get single account with multiple cards ?

    • Default Gravatar
      Nikki
      March 7, 2018

      Hi there!

      Thanks for your message.

      In general, you can’t have multiple credit cards for one account. However, you may want to check with your bank if they accommodate your preference.

      If you wish to consolidate all your credit card accounts into one single account, you can do this by getting a new balance transfer card. Balance transfer credit cards offer a low or 0% interest rate for existing card debts when you move them to the new account. After the balance transfer has been completed, you can cancel your old cards so that you have fewer accounts to manage. This also means you will only have to make payments to one account. But if you apply for a balance transfer card, remember that any debt remaining at the end of the introductory period will be charged interest at the standard rate for that card, which could be as high as 22% p.a. Also check the card’s annual fee to make sure it is affordable for you.

      For more information, you may use this link: https://www.finder.com.au/managing-multiple-credit-cards

      Hope this information answered your query.

      Come back to us should you need further help.

      Thanks and best regards,

      Nikki

  7. Default Gravatar
    Lyn
    August 9, 2017

    Hi, am I understanding correct that NAB do not have a banking app for iphone and can you set up a direct debit with this account?

    • Avatarfinder Customer Care
      Rench
      August 9, 2017

      Hi Lyn,

      Thanks for your inquiry. Please note that we are not affiliated with NAB or any company we feature on our site and so we can only offer you general advice.

      Unfortunately, this feature is not available for iPhones. The latest version of the NAB app is only available 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.

      And yes, you can set up a direct debit with this account.

      I suggest contacting NAB directly for further inquiries.

      Cheers,
      Rench

  8. Default Gravatar
    steve
    August 3, 2017

    Does this apply to a business savings account as well with no fees?

    • Default Gravatar
      Arnold
      August 3, 2017

      Hi Steve,

      Thanks for your inquiry.

      Yes, as long as you open a NAB Class banking account. You will incur no monthly account fees and $0 account keeping fees with no deposit conditions. Unlimited free withdrawals at NAB and rediATMs.

      Hope this information helped.

      Cheers,
      Arnold

  9. Default Gravatar
    Michael
    July 25, 2017

    I want to apply for a Classic Banking account & they have asked for my postal address but not a P O Box number. My postal address is only a P O Box so what am I supposed to do to continue with my application?

    • Default Gravatar
      Arnold
      July 25, 2017

      Hi Micheal,

      Thanks for your inquiry.

      You may proceed with your application using your PO box number. I would suggest clarifying with NAB that your postal address is your PO Box number.

      Hope this information helped.

      Cheers,
      Arnold

    • Default Gravatar
      Michael
      July 25, 2017

      It wont let me put my P O box no. in??? What do I do?

    • Default Gravatar
      Arnold
      July 25, 2017

      Hi Michael,

      Thanks for your inquiry.

      On the application page, you may try entering your physical residential address manually by clicking on the link below the box provided. (please see image) Click here

      You may also enter your work address in order to proceed with the application.

      Hope this information helped.

      Cheers,
      Arnold

  10. Default Gravatar
    Nush
    July 12, 2017

    Are there any hidden fees involved with this card if all transactions are done in Australia with AUD (direct debits, fund transfers etc.)? Also is the interest paid by the bank on a yearly basis? Also could you please confirm that there’s no minimum deposit required to obtain fee free bank account?
    Thanks.

    • Default Gravatar
      Danielle
      July 16, 2017

      Hi Nush,

      Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.

      According to NAB, there are no fees for transactions made in AUD, interest is paid monthly on the last business day and there is no minimum deposit you need in the Classic Banking account for it to be fee free.

      I hope this helps.

      Cheers,
      Danielle

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