Real time rates available for International Funds Transfers in NAB Internet Banking
Transferring your funds overseas in Internet Banking is a quick and easy way to send money, and costs less than doing it at a branch. Now, we’ve made it even better.
You told us that some things annoyed you about our International Funds Transfers, so, from 13 June you’ll see some important changes.
Real time rates and costs
In the past, we could only give you an indicative exchange rate when you did your transfer. When we use indicative rates, the actual rate we used could change without you knowing. Now when you enter the amount and currency you want to send (during business hours), you can see the exact exchange rate in real time.
Once you accept the rate we can calculate the cost of transferring the funds and show you what it will be (excluding fees from other banks). No more surprises when your account is debited.
How you’ll know if it’s a real time rate or an indicative rate
The first page of your transfer will still show you the indicative rate, as you can see below.
If you’re doing an international transfer from 8am-8pm, Mon-Fri you’ll usually see the real time rate on the final page before you submit your transfer, as you can see below.
How to accept the real time rate
You’ll have 60 seconds to accept the rate offered before it expires. Click Accept rate and transfer. (If the rate expires, just click the Refresh exchange rate button.)
When real time rates aren’t available
Real time rates aren’t available:
- overnight (from 8pm-8am Melbourne time), or
- on weekends or public holidays.
Real time rates also aren’t available for future-dated or periodic transfers because we use the exchange rate available on that day.
Other changes to come
Real time rates are only offered during our business hours, 8am-8pm Mon to Fri, but we’re hoping to extend those times to afterhours and weekends soon.
Get started with Internet Banking
- Read about Getting started with Internet Banking.
- Login to Internet Banking from nab.com.au.
- Register for for Internet Banking.
Once you’re up and running, have a look at how to Transfer funds overseas with NAB Internet Banking (+ video).
What do you think of the change?
Tell us what you think about real time rates:
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