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How to receive an international transfer with NAB

Find everything you need to know to receive an international bank transfer with NAB.

Updated

This guide explains what you will need to give the sender in order to receive a money transfer through National Australia Bank (NAB) and some of the aspects to consider in a transfer.

Where can I find the information I need to receive a transfer to my NAB account?

To receive a transfer from overseas with NAB, your sender will need to know the following details:

  • Bank name: National Australia Bank (NAB)
  • BIC/SWIFT code: NATAAU3303M
  • BSB and account number: You can find your BSB and account number on your bank statements
  • Your name and address: Your full name and address (cannot be a post office box).

SWIFT, IBAN and BIC: What's the difference?

What fees are involved for the receiver?

Unlike some other methods of receiving money, getting an international bank transfer is not free and banks will charge a range of fees. This will be taken from the amount sent.

Transfer typeFee
To your NAB accountUp to $15
To a non-NAB account with NAB as an intermediaryUp to $30
Overseas currency received by NAB and transferred to another bankUp to $35
Documentary payment orders and complex receiving instructionsThe higher of either $30 or 0.2% of the total transfer amount, to a maximum of $600.

NAB's fees explained

The fees for receiving money are just one of the fees that may apply to an international transfer. Other fees could include:

  • Sending fee. The sender will typically pay a fee for initiating the transfer.
  • Correspondent bank fee. When the money passes through other banks en route to you, those banks will take a cut of the money in exchange for processing it. You can see how much NAB charges for transfers to non-NAB accounts for a sense of how much these correspondent fees can be.
  • Currency exchange costs. Currency exchange will typically be done at less-than mid-market rates and can take a significant cut of the total transfer.
  • Miscellaneous fees. Miscellaneous fees may also apply, such as an additional fee for the sender if they want to pay all the fees up front rather than have correspondent banks take a cut of the transfer en route.

What form can I receive the transfer in?

There are several different ways of receiving a transfer. Each has its own pros and cons.

  • Direct to your bank account. You can receive funds directly to your bank account. This is often one of the more cost-effective options.
  • Bank draft. This is like a cheque that can only be deposited into your NAB bank account. It's paid for up-front by the sender at the time they send it so it won't "bounce".
  • Cheque. When made out to you, this is like a bank draft, except the sender pays at the time the cheque is cashed.
  • Money order. This is a more flexible bank draft. It's paid up front and can be cashed later in a range of locations such as post offices.

If you want to pick up cash, see which money transfer services can help you out here.

How NAB international money transfers work

Are there cheaper alternatives to NAB?

Banks are typically some of the most expensive options for international money transfers, but you can find cheaper options. 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
AUD 2,000 1 day AUD 0.00 0.696 USD
6,957
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.696 USD
6,957
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.696 USD
6,957
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.696 USD
6,957
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
GBP 3,000 1 day AUD 0.00 0.696 USD
6,957
Global Reach will match any competitor's exchange rates. Conditions apply.
Get no fees for both business and personal transfers when you send your money overseas with Global Reach.
Go to site Show details
AUD 1 1 day AUD 52.00 0.699 USD
6,949
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.
Go to site Show details
AUD 0 Same day AUD 2.99 0.691 USD
6,906
Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
Go to site Show details
AUD 1 Same day AUD 0.00 0.695 USD
6,950
Get fast transfers with no fees and a range of foreign currency tools. Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.692 USD
6,914
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Same day AUD 3.99 0.69 USD
6,898
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
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.

Frequently asked questions

Related Posts

International Money Transfer Offers

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

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

Logo for SendFX International Money Transfers
SendFX International Money Transfers

SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

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

$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.

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