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NAB Classic Banking
Posted June 7th, 2010
and last modified September 7th, 2011
What happens when I click Apply Now?
- Clicking Apply will take you to your Online Application on the bank's website. You do not need to be a customer of this bank to apply.
- Your application will typically take you no more than 10-15 minutes to complete
- Tip: Have your Tax File Number ready as it will speed up your application.
- In most cases, your new savings account will be setup immediately after you apply.
Choosing a transaction account is an important decision, which is why you need to consider all of your options before you sign up for an everyday savings account. To make sure you have all the information you need to make a decision about the best transaction account for you, Savings Account Finder™ compiles these detailed product reviews to help you decide. So perhaps the NAB Classic Banking account will best suit your needs?
Top features of the NAB Classic Banking account:
- No monthly fee
- Unlimited phone, internet, ATM, EFTPOS, Visa debit, cheque and branch transactions included
- Ability to qualify for a fee waiver
- Linked accounts available to help you manage your credit, or start a savings plan
- Heightened online security and SMS notifications and verifications included
- No minimum balance required, the account can be opened with just a $1 deposit
How You Can Use the NAB Classic Banking Account
The NAB Classic Banking account gives you access to your funds in every way you could possibly want, and all for a set fee, and here are the features of the account fleshed out, and how they could fit into your everyday life and your everyday banking:
- Branch access and cheque facilities are included, not just phone and internet access. While you can view and manage your account online if you want to, the NAB Classic Banking account also has unlimited over the counter branch transactions and all cheque facilities included in the monthly fee, so if you like choice when you do your banking, you have it.
- You can qualify to have the monthly fee waived. If you deposit $3,500 or more into your Classic Banking account, NAB will waive the monthly fee. You can also be exempt from paying the monthly fee if you are a student, under 18, or a NAB shareholder with a minimum of 500 shares.
- The NAB Classic Banking account is fee free with unlimited transactions and a variety of access options.
- NAB won’t charge you for using a non-NAB ATM. However, the provider of the foreign ATM might, so you’ll still need to check that. There are also fees for overseas ATM use.
- You can access your account at participating Australia Post outlets. Participating Australia Post outlets will allow you to check the balance of your Classic Banking account, make withdrawals or deposits.
- Statements are sent every six months, and every two months if you have a linked Visa debit card. With free access and online banking you will be able to always know the balance and status of your Classic Banking account, and save on monthly paper statements.
- Your purchases, transactions and online banking are secure. NAB employ a variety of security features to monitor your transactions for suspicious activity, and you can choose to automatically receive a free SMS activation code to verify your internet transfers, this feature also lets you authorise regular bills, and helps track all withdrawals from your account.
The NAB Classic Banking Account Can Be Linked
Your everyday transaction account will allow you to manage your day to day banking and purchases, but if you need additional features, you can link them to your Classic Banking account too.
A linked Visa debit card:
- Allows you to make quick and secure credit purchases online, over the phone or in person, while spending your own funds.
- You have the choice of four card colours.
- Visa debit runs entertainment promotions only available to card holders, so you have access to special ticket prices and entertainment products.
- A NAB Visa debit card comes with 90 day purchase protection if something you have bought on your Visa debit card is lost, stolen or damaged.
A linked NAB overdraft facility:
- You can link your Classic Banking account to a personal overdraft facility.
- This allows you to choose an overdraft limit you are comfortable with, to cover your daily expenses.
- You don’t have to use the overdraft, or use the entire limit, but having it there means you can avoid overdrawn fees and dishonour fees if your account has insufficient funds for a withdrawal or automatic debit.
A linked high interest savings account:
- Linking to a high interest savings account with NAB means your savings transfers will arrive in your NAB savings account instantly and can be earning interest right away, which is important when interest is calculated daily.
- You can link to the NAB iSaver account which can be opened online at the same time as you apply for your Classic Banking account, and is currently offering a high 0.01% interest.
- You can also link to the NAB Reward Saver account which gives you branch access and the ability to earn bonus interest in a month.
Applying for a NAB Classic Banking Account
Applying for the NAB Classic Banking account is as easy as gathering a little paperwork and following the secure Savings Account Finder™ link to the online application form. To apply for a Classic Banking account:
- You can apply online in less than ten minutes if you are a new customer, and can upgrade to a Classic Banking account if you are an existing NAB customer in less than five minutes. Simply follow the secure Savings Account Finder™ link to the NAB online application form and enter your personal details, or your NAB customer number, to complete your application. You can also apply for a linked Visa debit card and a high interest savings account at the same time.
- You can apply over the phone or in branch if you prefer.
- Once you’ve completed the online application form you’ll receive a confirmation email.
- If you’re not already a NAB customer you will have to visit a branch to verify your identity.
- Your account details will be posted to you in five to seven working days after you have completed your application online, over the phone or in person.
- You can then activate your account with as little as a $1 deposit.
- If the Classic Banking account sounds like it has the features and extras which would suit your day to day banking needs, follow the secure Savings Account Finder™ links to the NAB website to apply online or find out more.
Read the official terms and conditions
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