This post will be the first in the series of articles that I will make about online banking of the banks around the world especially those banks from Australia, Canada and the US. I have been greatly benefiting from online banking since I started using it way back in 2004.
It is a great tool that every bank account owner must have. In this post, I would like to discuss the benefits that you can get from NAB online banking and the process and requirements that you can follow in the application.
National Australia Bank or popularly known as NAB is one of the largest banks in Australia with branches and offices operating not only in Australia but also in other countries. It was founded in 1893 as National Bank Limited. Currently, its headquarter is located at Melbourne, Australia.
NAB is serving more than 10 million customers in 10 countries where it operates. It serves Australia, New Zealand, UK, USA and Asia. Its key people are Camaeron Clyne as CEO and Michael Chaney as Chairman of the bank.
The products and services of NAB are divided into 5 categories namely: business banking, consumer banking, wholesale banking, wealth management, and insurance. In 2011, it has earned a net income of A$5.22 billion with a total assets of A$754 billion.
Features and Benefits of NAB Internet Banking
We all know that online banking provides many benefits for the account holder. Here are some of the benefits that you can receive when you apply for NAB Internet banking.
1. It provides you the details of your account information, view your account balance details and Share Portfolio Holdings at any time.
2. You can view the summary of balances of all your linked accounts as well as the information on your investments and insurance products that you have applied.
3. View the transactions you have made within the last 560 days or 100 days of transaction history if you haven’t stopped your paper statements. You can also export you transaction information to Microsoft® Money, Quicken®, MYOB® V2002, or into a spreadsheet
4. Check the details of each linked NAB accounts for any unclear funds, interest accumulated or earned, loan re-payment, date the term deposit matures and the interest it earned, your credit limit, and a lot more.
5. You are allowed to stop payment of a cheque or number of cheques. It is easy to stop payment of cheque, you only need to know the account number and the cheque number that you would like to stop.
6. You may also re-order a cheque or deposit book for your selected NAB accounts through NAB Internet banking which may take up to 10 working days to be received.
7. You can order copies of your statements online and have them mailed to you.
8. Transfer funds from your account to a single or multiple accounts at NAB or other financial institution in Australia and beneficiaries overseas. Fund transfer can be done by either single or multiple funds transfer.
9. Make an international fund transfer to an overseas beneficiary for a fee of $22.
10. Redraw funds through your NAB Internet banking if you are ahead of your minimum repayments on your NAB variable rate home loan. You can redraw between $2,000 and $80,000.
11. Pay your bills via BPAY® and view your bills via BPAY ViewTM. You can create a one off bill payment or a periodic bill payment.
12. Change your account nicknames to each individual accounts for easy remembrance. You can change your contact details, security features, transaction history setting and more.
13. Apply online for a NAB term deposit, NAB transaction account, NAB credit Card, NAB Personal Loan or NAB Home Loan through NAB online banking.
14. It allows you to contact NAB without using the phone or email through a secure messaging service. You can get responses quickly from NAB about your inquiries and questions. You may also call them at 1300 651 656 or your Banker directly.
How to Register for NAB Internet Banking
To get started with your registration, you do need two things to make it possible to accomplish your registration. Here are the two things that you need.
1. Your NAB Identification No.
This number is located on the back of your NAB Card, above the magnetic strip, or it was provided to you in your branch.
2. Either one of the following:
- your mobile phone if you’re registered for SMS security or you’ve provided it to us previously
- your NAB Telephone Banking password
- your temporary password issued at your branch
If you don’t know what to do and you need help, just call NAB at 1300 651 656 from 7am-9pm Mon-Fri, or 8am-6pm on weekends (AEST/AEDT) or visit any NAB branch. Please visit this page to start the registration process, simply click here and it will direct you to NAB website.
When opening a deposit account at NAB, it will be better if you can register that account to its Internet banking to receive the benefits and perks just mentioned above. On the other hand, if you have already have a NAB account and you want to apply for its online banking, you can follow the procedures outlined above to get started.