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NAB Review, Exchange Rates, Fees Calculator & User Score

  • Fees and costs: Average
  • Transfer speed: Average
  • Safety and reliability: Good
  • Customer satisfaction: Good


  • Flat transfer fee for all transactions
  • Convenient mobile app


  • High markup on exchange rates

0 users would recommend it

0 users wouldn’t recommend it


What is NAB Bank International Transfer?

NAB (National Australia Bank), with the 12.7 million customers, 1,590 branches, and 4,412 ATMs across the country, is one of the leading Australian financial institutions. The bank offers a variety of services, from loans and mortgages to personal accounts and international money transfers. With the transaction accounts, you can withdraw money from ATMs, pay online, and control and manage your finances and cards with the NAB mobile app. There are accounts for any customer needs from students and international visitors to retirees and pensioners.

How Does NAB Bank International Transfer Work?

In order to send money overseas with NAB, you need to open a bank account with them. The registration process is quite simple and usually takes around 7 minutes to complete. The bank offers different types of accounts, but there is also a basic account, which is free to use and doesn’t have any additional monthly costs.

NAB Bank International Transfer Fees and Costs

For all of the countries, there is a stable fee of $10 per international transfer in foreign currency. If you are sending money with Australian Dollars, you need to pay a fee of $30. The same rate applies for ordering the payment in the bank’s branch.

One of the interesting features NAB claims to offer is taking care of any intermediaries or your recipient’s bank fees. Usually with international transfers, there are more banking and processing costs added up later with the transfer. The bank says that:

“NAB absorbs fees that receiving overseas banks may charge when you send an online International Transfer”

If you want to receive an overseas payment, you need to prepare for costs up to $15. This fee is usually deducted from the amount paid to you. However, the sender can cover these processing fees for you.

From country

Receiver country

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NAB Bank International Transfer Exchange Rate

The markup on the exchange rate is set at around 4%, compared to the average market rates, depending on the currency pairs.

NAB Bank International Transfer Limits

There are no transfer limits in general. However, your online account may have some transfer amounts restrictions. The default limit is $2,500. If you set up an additional verification and security measures, it will be increased to $5,000. Then, you can change your daily transfer limit to $40,000 in the account settings on the online platform.

NAB Bank International Transfer compared to online platforms

The high markup on the exchange rate acts as a significant disadvantage for the bank compared with some of the independent exchange platforms and online transfer processors. The flat fee of $10 is a reasonable offer, as you can send as much as you want, and other platforms often charge you a percentage fee of your transfer, which can quickly become expensive with large payments. Compared to other Australian banks, NAB’s offer seems quite attractive. While there are cheaper online platforms, the bank appears to be much more reliable and secure, as the government and other financial institutions heavily regulate it.

How to use NAB Bank International Transfer?

First, you need to have a bank account with NAB, then you can enable the online banking feature and start sending your money through their platform or mobile app. To issue an international payment, you need to provide full name and street address of your recipient, their IBAN or account number, SWIFT or BIC code, and the name of the bank.

Navigate to your account and choose from which balance you’d like to make a transfer. Then, you can set the currency, fill out the transfer information, and set when you want the transfer to be processed, as you can also schedule the payments for the future.

Alternatively, you can always visit your local branch and order the transfer there, however, you will need to pay additional operational fees, so it’s cheaper and more convenient to do it online.

How to sign up?

It’s best to contact NAB Bank representative or visit their local branch to set up the account and talk about the details and latest offer. If you already have an account,, you can enable the online banking feature on their mobile platform. That way you can start managing your payments from your computer or mobile phone.

Is NAB Bank International Transfer safe and reliable?


The bank is officially registered and regulated by financial institutions and needs to comply with all of the security and financial laws. They monitor your account for any suspicious activity and notify you immediately when there is an attempt for unauthorized transactions. Before making any payment, you get an SMS verification with a unique code. If your funds get stolen from the bank, despite their secure system, they will refund you the money.

Public Reception

In general, the bank seems to be doing quite well, and with 12 million customers, they should be considered a rather reliable service. The company has faced some controversies with allegations about tax evasion and customer overcharging, but also staff fraud attempts with foreign currency exchanges.


The customers in their NAB reviews rate the experience and quality of the bank to be at a satisfactory level. They mention both advantages and disadvantages, and there doesn’t seem to be any extraordinary problems or regular issues. The mobile app is convenient and easy to use, and while the transfer costs are quite good, the exchange rates could be much better.

“Everything is pretty good except their rates.” ~ Vincent on Mozo

“Generally a good bank however there is definitely room for improvement.” ~ Deloraine on Mozo

When it comes to the downsides, there are some reports that the fraud refunds and customer services may not always work as promised:

“I have been with them for years and have been loyal, but when I was in a situation where I needed help when involved with a scam, nothing, they will hang up on you and act as if it is not even happening” ~ Joel on ProductReview

“Useless customer service, phone system takes me round in circles and website is shocking. Can't view statements on the app or mobile site.” ~ Jpog83 on ProductReview

Customer Support

You can contact the customer support via a phone call or at your local NAB branch.

Final Thoughts

NAB Bank International Transfer Review

NAB Bank, compared to other Australian Banks and mainstream financial institutions seem to be doing quite well, and their money transfer offer is quite sensible. The high markup on the exchange rate acts as a significant disadvantage and makes the whole transaction significantly expensive, especially compared to some of the independent online transfer platforms. The overall design of the site and mobile app, makes it very convenient and easy to use. The customers report that there may be problems if you become a victim of online money fraud, as the customer support doesn’t offer much help in such cases. However, the security level of the bank has a very high standard.

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