The basics of internet banking
There are so many things that you can do with NAB Internet Banking that you might not know where to start. This is a quick look at the most common ways people manage their money online.
Update, December 2011: This post was updated to fit in with NAB Internet Banking’s new look.
If you’re logging in for the first time, you might want to read about setting up your NAB Internet Banking first.
See where your money comes from, and where it goes
When you login to check your account balance, a common follow-up question is: “What? Where did all my money go?”. (If you’re lucky it might be, “What? Where did all that money come from?”)
This is when you need your Transaction history, which lists each transaction in and out of your accounts. Today’s transactions are at the top of the list, which gets older as you scroll down.
The easiest way to open an account’s history is to click on the account in your main Account summary, or to open the Accounts menu and select Transaction history.
Once you’re in the Transaction history screen, you can choose a new account to look at . Look for the drop-down list above the list of transactions.
Finding specific transactions
Say you find a three-month-old power bill for $83.56 under the couch and can’t remember if you’ve paid it yet. It would take a long time to scroll through 90 days of transactions looking for it, and there’s a good chance you’d miss it if you tried.
Instead, use the Show filter button above the list of transactions (it’s to the right of the drop-down list that you use to select accounts). This lets you search for a particular transaction or to limit the listed transactions.
Use the Transaction type and Amount filters to only see debits of $80-$85. If you still have a lot of payments listed, you could add a date range, too.
Pay bills with BPAY®
Alright, you’ve filtered your transactions and double-checked the list but you definitely haven’t paid that power bill. So do it now, before you lose the notice again!
Open the Bill payment menu and select New bill payment. Use the BPAY® information printed on your bill to find the company (or biller) to pay, and to identify yourself with your “customer number”.
Once you’re done you can save the biller details. This means that next time you’re paying an electricity bill the company’s details and your customer number are ready to go. All you’ll have to enter is the amount.
Transfer money to anyone else in Australia
What’s the easiest way to pay your workmate back $16.30 for lunch? Do you just give them a twenty and hope that they buy you a coffee some time, or do you mess around with awkward amounts of change?
And what can you do if your children need a few extra dollars while they’re having a “study break” on the Gold Coast? You need a better plan than hoping that your broke teenager knows a few good busking tunes.
This is when NAB Internet Banking funds transfers are so useful. So long as you know someone’s account number and BSB you can transfer money straight into their bank account. You choose the exact amount (although if you’re trying to move thousands of dollars, you’ll run into daily limits) and can even add in a fee-free SMS to the person as well.
Start by opening the Fund transfer menu and selecting New funds transfer. Once you’ve made the transfer, you can save the person’s details so it’s faster next time. To do that, choose Add payee.
Set up payments for later
Maybe you pay your workmate back for lunch every Wednesday, or you know that by the time your kids phone home for holiday money you’ll be away on a break of your own. This is when you can use NAB Internet Banking to plan ahead, rather than having to login on the day of every payment you make.
When you set up a funds transfer or bill payment we give you two scheduling options:
- choose a future date for the payment – any day in the next 18 months
- make the payment periodic, so you pay the same amount to same person every week, fortnight, month or quarter.
You can schedule bill payments like this, too
Periodic bill payments are perfect for those bills that don’t change, like rent. You already know the exact amount you owe, and the day it’s due, so why not set up a repeating bill payment now and never have to remember again?
Give your money time to get where it’s going
It pays to keep in mind that bill payments and fund transfers – especially transfers that have to go through the BPAY® system or between two different banks – can take a few days to go through. You’ll probably find that your transfers normally move overnight on weekdays, but this isn’t always guaranteed.
Whenever you can, give your payments and transfers two or three “banking days” to arrive. A banking day is a day when banks are open – so don’t count weekends, public holidays or bank holidays. (Remember that holidays outside of your state can slow your payment down by a day, too.)
So if your power bill’s due on Friday the 20th, make your payment by Tuesday the 17th.
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