The basics of internet banking

Posted in Banking tips
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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 Account info menu and select Transaction history.

Open an account's 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.

Transaction history account selection

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 link 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.

Show transaction history filter

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.

Internet Banking transaction history filter

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

Internet Banking future-dated payment

  • make the payment periodic, so you pay the same amount to same person every week, fortnight, month or quarter.

Internet Banking period payment

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.

Further information

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Comments

44 Responses to The basics of internet banking

  1. HTIN KYAW says:

    Hi there,
    This is Tim. I want to know that how long it going take to transfer money from nab to other nationl bank like Commonwealth and ANZ.

    • NAB says:

      Hi Tim, it does depend on when the transfer is sent. Usually, from NAB to other major banks, transfers are processed overnight (between business days). If however, a transfer is sent late on Friday it may not be processed until overnight the following Monday. Let’s chat via email (social.media@nab.com.au) so we can chat further, thanks! ^AB

  2. Melissa says:

    Hi, was wondering how I change the ‘nickname’ of all my accounts?

  3. Leeann says:

    Hi, I’m considering changes banks. I’m currently with Commonwealth bank and I like that their online banking is (mostly) in real time (unlike my old bank ANZ that used to take days for an eftpos purchase or ATM withdrawal to show). Can you tell me if NAB internet banking is also in real time? Or is there a delay in showing transaction credits/debits?

    • NAB says:

      Hi Leeann, our Internet banking displays balances and transactions in real time – debit transactions will appear as soon as they are made, with further information added once they are fully processed. Sometimes some transactions (example, a credit transaction at a restaurant) may take a day or two to appear – this may be due to the merchant (the restaurant) choosing to send their payments in bulk to their bank, which is then passed to us to fully process. Hope that helps – I’ve sent an email also (from social.media@nab.com.au) and can have our team follow up to chat further if you like – speak soon! ^AB

  4. Pandi says:

    I’ve just set up a new account, I transferred money into the account and I can see the new balance, but it says there is no ‘available balance’ and now I cannot even transfer the money back into my old account for use. What does this mean?

    • NAB says:

      Hi Pandi, let’s chat via email (social.media@nab.com.au) and I’ll have our Internet Banking team follow up directly for you, thanks! ^AB

  5. Trent says:

    Hi,
    Just wondering what time my money would be available in my account if I got payed from a westpac account yesterday early afternoon. I have had money transferred to my account from the westpac account before was just wondering if there’s a specific time they go through e.g 12am, 1am..

  6. Ros says:

    Hi
    I want to know that if I transfer money from nab to other nationl bank like Commonwealth and ANZ.
    Is there any transfer fee? or cost to me.

    Thanks.

  7. Manli says:

    Hi
    I just want to check how long does it take to tasfer fund between two different nab bank accounts?
    Thanks

  8. Mandy says:

    Hi,
    Just wondering if there is any extra charge if you are transferring money from the NAB account to Commonwealth online.

  9. Ajay says:

    Hi,

    Is there any way of transferring funds from my NAB account to a credit card through Internet banking.

    Thanks.

    • NAB says:

      Hi Ajay, there certainly is. Completing a funds transfer will allow you to do this. Click here for instructions on how to perform a funds transfer. ^AS

  10. Paul says:

    Hi, I am a NAB customer and would like to know how much is the fee every time my periodic payments are made to another bank. Thanks

  11. Jude says:

    Hi. I was just wondering how long a transfer would take from a NAB account to my commonwealth account. It’s the first time I am receiving a transfer from that account. Thanks!

    • NAB says:

      Hi Jude,
      If transferring to another financial institution within Australia, before 6pm AEST the funds will appear in the account within one business day. If transferring funds after 6pm AEST then funds will appear within two business days ^JP

  12. Brendan says:

    Hi, i am thinking of opening a NAB account to put my wages in when i start my employment. When i open the account do i have to put money in straight away and if so how much?
    Thanks.

    • NAB says:

      Sorry for not getting back to you sooner Brendan, when opening a NAB account you don’t need to deposit funds straight away, if it’s one of our transaction accounts (i.e. NAB Classic Banking). If you need any more info or have any other q’s send through a message to social.media@nab.com.au! ^JP

  13. Anna says:

    Hi. Do I lose interest every time I transfer money from my savings account into my main account? Thank you.

    • NAB says:

      Is this from your iSaver account, Anna? If so interest is calculated on a daily basis. It works this way:
      (Interest Rate / Days in the year) * (Current daily balance/100) = Daily Interest. I hope this info clarifies it for you :) ^LB

  14. Bill says:

    How much would the actual transaction fee be for transferring funds from nab to Commonwealth bank via online (also from Commonwealth bank to nab online, or is it the same fee, what other fees are included?)

  15. Reno says:

    I transferred money 8pm Thursday via nab internet banking to cba account holder. When should he receive funds in there account.
    And can I show them proof

  16. Kerrie says:

    what is the cut off time for internet banking transactions?

    • NAB says:

      Hi Kerrie,

      it all depends on the type of Internet Banking transaction you’d be performing.

      Find more detailed information for each one here. ^SN

  17. Shari says:

    Hi,

    Just had a further query regarding the Internet banking displaying balances and transactions in real time – above it was said that debit transactions will appear as soon as they are made, with further information added once they are fully processed – how long does it usually take for the transaction to be fully processed? What type of further information is added?

    • NAB says:

      Hi Shari, once the merchant completes the transaction on their side – further information may be added; eg; merchant name ^LB

  18. Ajit says:

    Hi there,

    I want to know if iSaver account is requred to operate a NAB Classic Banking account online. Currently I have both but woul like to close iSaver and keep NAB Classic Banking account.

  19. Charlene says:

    Hi,I have a nab debit card and I was wondering if I debit cash from a non nab atm machine when should it show on my account summary and does it go by eastern state time?

    Regards
    Charlene

  20. Joshua Whelan says:

    Hi, when doing a funds transfer to a friend, I accidentally misspelled their surname. Assuming account number and BSB were both correct, should it still go through fine?

    • NAB says:

      Hi Joshua, your funds transfer should still go through as we do not check whether the account name matches the BSB and/or account number ^DH

  21. Sam says:

    Hi!

    I have a transaction account and an iSaver account, and I have a periodic funds transfer set up to go from the saver to the transaction account fortnightly. I was wondering how I go about cancelling that periodic transfer – I can’t seem to find an obvious solution online!

    Thanks!

    • NAB says:

      Hi Sam, you can cancel a periodic payment by locating the payment in your Payment List and clicking on the Cancel button ^DH

  22. Sally^ says:

    Hi,
    I just wanted to know how I can move money from my iSaver to my Classic account?

    • NAB says:

      Hi Sally,

      You can transfer funds between your accounts via Telephone or Internet Banking and in person at a branch.

      If you know your NAB ID number (usually located at the back of any of your NAB cards), you can call us on 132265 Mon-Fri 8am-7pm and Sat-Sun 9am-6pm AEDT/AEST and we’ll be able to set you up with both!

      If you need further assistance, please send us an email at social.media@nab.com.au and we’ll be in touch ^SN

  23. Vanessa Hernandez says:

    Hi there,

    I just wanted to know how long will the money be transferred from a NAB BUSINESS ACCOUNT to another bank in Australia?

    Thanks,

    Vanessa

  24. Mary says:

    I was just enquiring are your account numbers only one digit different at the same branch ? I have transferred money where the last number of the account number is incorrect . I am wondering if the payment will be automatically returned?

    • NAB says:

      Hi Mary, if a payment is made to an account number that doesn’t exist or is a closed account the funds will return to the sender in 24 – 48hrs. If the funds aren’t credit back to the account within this time we can lodge a dispute on your behalf – if you need to do this just give us a call on 132265 ^TC

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