NAB

NAB International Money Transfers

NAB offers bank to bank money transfers to overseas accounts with competitive fees and exchange rates.

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National Australian Bank or NAB is an Australian banking institution that has worldwide connections. As one of the big four Australian banks they are in a position to offer financial services from their Australian accounts to those overseas.

NAB provides a variety of services in relation to currency exchange and determines their own rates when doing so. These are indicative, and can change as the market does, but they will lock you into the real-time rate at the time of the transaction.

It's worth noting that while NAB does offer convenience if you're already banking with them, you'll often get a better exchange rate and pay less fees elsewhere. Check out some of these below.

Cheaper alternatives to NAB when sending money overseas

Banks tend to have higher fees and less competitive exchange rates than specialised money transfer companies. Our table below lets you compare the services you can use to send money overseas. By inputting how much you want to transfer and to what currency, you'll be shown live exchange rates, fees and more.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 0 1 - 2 days AUD 0.00 0.744 USD
7,435
New customers use code AZIMO50 to get GBP 5 off when you transfer GBP 50+. Valid till 31 October 2021. T&Cs apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
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AUD 2,000 1 day AUD 0.00 0.746 USD
7,462
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 1 Within an hour AUD 0.00 0.746 USD
7,456
New customers get their first transaction for free with code FIRSTFREE. T&Cs apply.
Send money in minutes at competitive exchange rates with this Australian money transfer service.
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AUD 250 1 - 2 days AUD 0.00 0.746 USD
7,458
$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
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AUD 2,000 1 day AUD 0.00 0.746 USD
7,456
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
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AUD 1 Same day AUD 0.00 0.745 USD
7,450
XE has fast transfers with low fees and a range of foreign currency tools. Go to site Show details
AUD 1 Same day AUD 3.99 0.74 USD
7,395
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
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AUD 1 1 - 2 days AUD 45.00 0.746 USD
7,423
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.748 USD
7,442
Exclusive: New customers sending over 500 AUD from Australia use code FINDER50 to get 50 AUD off. Pay zero fees on your first transaction. Valid till 31 December 2021. T&Cs apply.
Instarem offers simple transfers with a flat 0.5% transfer fee for most transfers.
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AUD 1 1 day AUD 52.00 0.745 USD
7,412
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
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AUD 10 Within an hour AUD 2.99 0.741 USD
7,403
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
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AUD 5 1 - 2 days EUR 3.00 0.746 USD
7,456
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

NAB exchange rates

NAB offers transfers to over a dozen different nations in their currency. This information is easy to access through their website to find the current exchange rate and even see how much your bank account back home will be credited based on the amount of Australian dollars you are sending.

Exchange rates change with local economies, making it important that you look at the current rates each time you are going to make a money transfer from your NAB account. These will change even throughout one business day. Once your order for a transfer is placed though, the current rate will be locked in.

Take a look at NAB's live exchange rates for today.

How much does it cost to transfer money?

There is more to transferring funds overseas than the exchange rate. These types of services will incur a service charge as well, even with NAB. They charge a flat rate fee of $22 Australian dollars per transaction.

In addition to the fee charged by NAB, you will have to check for any fees charged by the recipient banking institution. They can also charge that account for accepting the transfer and the currency exchange.

Minimum transfer amount and available countries

There are over 100 different nations that you can transfer money to with NAB. When you make your transfer order, they will convert it to the currency of your choice at that time, allowing you to lock in your exchange at that rate.

NAB works for small exchanges in money transfers as well, having no minimums on the amount of cash that is sent.

For various reasons, there are some countries that NAB will not be able to transfer money to, or that can only be initiated at a local branch. This could be due to an uncertain economy and currency or for political reasons. These countries include, but are not limited to:

IranIraqNorth Korea
AfghanistanCubaBurma
LibyaSyria

What types of transfers can you carry out with NAB?

With NAB, you can only transfer money from one bank account to another, allowing money to be deposited directly into a bank account. If you will be making frequent money transfers you may want to look into NAB’s Forward Exchange Contracts (FEC). These allow for you to lock in at a specified exchange rate for a period of 12 months. Of course in doing so, you run the risk of the rate improving and costing you money but you also save if the rate drops in value.

They also offer other types of services for Australians who are traveling overseas. This includes comprehensive travel insurance, travel loans, credit cards, and a NAB traveller card. The NAB traveler card allows you to have up to ten currencies on one convenient card, with the ability to reload online. This is an alternative to cash to consider when traveling overseas.

For the travel card, and their other services, NAB has an emergency system in place where you can receive help with your finances 24 hours a day, 7 days a week.

How to receive an international money transfer to your NAB account

The registration and transfer process

You will need to have an existing NAB bank account to take advantage of their money transfer services. They do allow you to make the transfer in a branch, but also offer an easy to use online service. Using a branch may also incur additional charges and there is no option of initiating the transaction over the phone.

In order to make the money transfer you will need the SWIFT code of the recipient bank along with the name and address of the recipient and their account information. Depending on where you are sending to, the SWIFT code may be referred to as the Bank Identifier Code (BIC) or International Bank Account Number (IBAN). Once initiated, the transfer should take two to four days before completion.

What are the pros and cons of using NAB?

Pros

  • Convenient. Your entire transaction can take place online.
  • Service. You have access to help around the clock if there is a problem with your money transfer.
  • Accessibility. The large number of currencies they deal in makes this service possible for people from all over the world who have settled in Australia.
  • Set fee. Regardless of the receiving country, the fee is always the same.

Cons

  • Exchange rate. You may find that non-bank money transfer companies offer better exchange rates.
  • Fees. Some transfer service providers charge on a sliding scale, making the fee lower if you are not transferring large amounts of money.

What other products and services does NAB offer?

As mentioned, NAB offers other products for Australians who are planning to travel outside of the country. This is a closer look at these products:

  • NAB travel card. The travel card allows you to control your vacation funds and track their use online. This card can be used the same as a Mastercard for purchases and cash withdrawals.
  • Travel insurance. NAB offers comprehensive travel insurance that allows for children to be covered for free, plus unlimited medical coverage and personal item coverage including credit cards.
  • Travel loans. You can apply for a personal loan through NAB to cover your travel expenses.
  • Foreign currency cash. You can arrive at your foreign destination with their current currency. NAB is able to offer over 50 different currencies at competitive exchange rates before you get on the plane.
Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly account fee
NAB Classic Banking
Visa
$0
$0
$0
Enjoy convenient, unlimited access to your money.
$0 monthly account fee.

Tap and pay with your NAB Visa Debit card or your phone using Apple Pay, Google Pay, Samsung Pay or NAB Pay for Android. Temporarily block your card at the touch of a button if you lose it.
NAB Business Everyday Account ($0 Monthly Fee Option)
Visa
$0
$0
$0
$0 monthly account-keeping fee.
Unlimited standard electronic transactions.
Sign up for a NAB Business Transaction Account and enjoy free digital transactions, no monthly fees, and a linked NAB Visa Debit card at no cost.

NAB Business Everyday Account ($10 Monthly Fee Option)
Visa
$0
$0
$10
Make unlimited online and staff-assisted transactions for one flat monthly fee.
Enjoy dedicated support from NAB Business bankers available seven days a week.
NAB Classic Banking with Platinum Visa Debit Card
Visa
$0
$0
$10
$10 cashback on contactless purchases, $0 foreign transaction fee and complimentary travel insurance.
$10 monthly account fee.
Receive $10 cashback when you spend $1000 on contactless purchases. Complimentary travel insurance, transport accident insurance, purchase protection insurance and more when you meet eligibility criteria.
NAB Business Interest Account ($10 Monthly Fee)
Visa
$0
$0
$10
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Compare up to 4 providers

Frequently asked questions

Is this service available for non-residents?

Yes, so long as they have a NAB bank account.

What’s their refund/dispute handling process?

NAB is accessible around the clock if you are in need of a refund or are having a problem with your transfer.

Is this service available for a small business?

Yes, a small business with a NAB business account can use this service.

How long do transfers take?

Typically it will be two to four business days for the funds to clear in the recipient account.

Is there an app available to conduct transfers?

NAB does have mobile phone access available through an app.

How to check your balance/progress of transferring your money?

This can be done by accessing your bank account.

If a bank to bank money transfer service is what you are looking for, then NAB is a bank to consider. Check their rates and fees with other banks to find the one that can give you the best value.


NAB’s international presence makes them a bank to consider if you are looking for an easy way to transfer money overseas. They deal with a large number of nations, offering competitive rates for their currencies.

More guides on Finder

International Money Transfer Offers

Important Information*
Logo for Azimo International Money Transfers
Azimo International Money Transfers

New customers use code AZIMO50 to get GBP 5 off when you transfer GBP 50+. Valid till 31 October 2021. T&Cs apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.

Logo for TorFX International Money Transfers
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.

Logo for MasterRemit International Money Transfers
MasterRemit International Money Transfers

New customers get their first transaction for free with code FIRSTFREE. T&Cs apply.
Send money in minutes at competitive exchange rates with this Australian money transfer service.

Logo for OFX (Ozforex) International Money Transfers
OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.

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