NAB Transaction Accounts

NAB home loansNAB is a provider of transaction accounts, as well as other banking solutions such as home loans, personal loans, insurance and superannuation.

Compare NAB transaction accounts

Considering a transaction account from NAB? The table below displays a snapshot of NAB transaction accounts on Canstar’s database. These results are based on a person in NSW with an average of 35 transactions per month.  

Click here to compare more products based on your circumstances.

What transaction accounts does NAB offer?

As you can see in the table above, NAB offers one transaction account at the time of writing: the Classic Banking account

Classic Banking account

An everyday account with no monthly account fees, no overdrawn fees and no withdrawal fees at over 10,000 ATMS across Australia.

NAB also has a Retirement account for those 5 and over, which also has no monthly account-keeping fees and no minimum deposit requirements.

You can view the current Star Ratings and fees on NAB transaction accounts in our comparison tables.

Does NAB also offer savings accounts?

Yes, NAB does offer savings accounts in addition to its transaction accounts – The NAB iSaver, Cash Manager and the NAB Reward Saver.

In order to get more out of a savings account with NAB, you may need to link it with your transaction account. You do not, however, need to have a savings account with NAB in order to use its everyday transaction account.

Considering a savings account from NAB? The table below displays a snapshot of NAB savings accounts on Canstar’s database, sorted by Star Rating. These results are based on a regular saver in NSW with $10,000 in current savings.

Click here to compare more savings accounts based on your circumstances and preferences. To see the definition of a regular saver and other profiles used in Canstar’s Star Ratings, view Canstar’s savings account methodology here.

Does NAB charge fees on its transaction accounts?

Transaction accounts can come with several fees, such as monthly account-keeping fees, transaction fees, withdrawal fees and more. NAB charges no monthly account fees, overdraft fees and or withdrawal fees on its Classic Banking account at the time of writing (18/08/18).

What does NAB offer in terms of mobile banking for its transaction accounts?

NAB offers both online and mobile banking for its transaction account products, with its app available in both the Apple and Google store.

Notable features of NAB’s mobile banking include the ability to:

  • Make fast payments with eligible accounts
  • Create, cancel or modify scheduled and recurring payments
  • Share your reciepts by SMS, email or even save them to your phone
  • Control the kinds of payments that can be made with your Visa credit and debit cards

How to apply for a NAB transaction account

Before applying for a NAB transaction account, try to first compare it against others on the market to ensure it is the right one for you. You can then apply for a NAB account online, provided you have the correct documentation:

  • At least one form of ID, such as your driver’s license, Medicare card or passport
  • Accurate personal information, such as your name, date of birth, address and phone number

NAB does not require a minimum deposit before you can activate your account.

Related article: How to change bank accounts

Eligibility requirements

Before applying for a NAB transaction account, you will also have to meet the following eligibility requirements:

  • Be 18 years or over
  • Be a permanent resident of Australia

What other banking products does NAB provide?

NAB provides a variety of different products to consumers, including:

About NAB

NAB was founded in 1981 and is one of the big four banks in Australia. They serve over 12.7 million customers worldwide and employ over 42,000 people.

NAB offers mobile apps for internet banking on your Apple, Android, and Windows smart devices.

NAB Classic Banking

Canstar Research
Rating:
Award: Outstanding Value Transaction Account

Written by: Maddie Clarey | Last updated: August 23, 2018

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