Using your credit card to get to all your accounts

Posted in Banking tips
16

 

If you have a NAB credit card and a NAB everyday account, you’ve got more than one NAB card. Add in a joint account (which comes with a card of its own), home loan, or an investment account and you can have a lot of banking to manage, and to fit into your wallet.

Right now your credit card probably only lets you use the “credit” button when you’re shopping or using an ATM. Did you know that you can link your other accounts to your credit card, and get to them through the “cheque” and “savings” options?

By making your accounts and cards work together you can reduce the number of cards you carry around, have fewer PINs to remember, survive more easily if you lose a card, and access more of your money each day.

Similarly, you can also use your debit card to access multiple accounts.

Choose your own PINs

The first way to make your cards easier to use is to choose your own four-digit PIN. You can do this at any NAB ATM. (This has to be a NAB ATM, not an ATM from another bank or network.)

Use your credit card and PIN to get to your everyday account

Let’s start with the two cards you’re most likely to keep side-by-side. Your debit card lets you into your everyday account to spend your own money, while your credit card gives you access to more credit on top of that.

On a day out shopping you might put a new TV on your credit card in the morning, get cash out from an ATM to pick up some lunch after that, and then use EFTPOS to grab a few groceries on your way home. You’re using both your cards during the day, and choosing to use either credit or your own money however suits you.

But rather than shuffling cards while you shop, linking your everyday account to your credit card lets you use the same card and the same PIN for all of this. The “savings” or “cheque” buttons let you into your everyday account through EFTPOS or ATMs so you can spend or withdraw your own money. And when you press “credit” you’re still using your credit card as usual.

It can be a good idea to leave your debit card at home as a back-up in case you ever lose your credit card or wallet. When you do use it, it will work just like it always has.

To link your everyday account to your credit card, contact NAB.

Access more of your money each day

When you use your card to access your everyday account, there’s a daily limit that restricts the amount you can spend or withdraw. But by linking your everyday account to another card, you give yourself another daily limit. See our post about daily limits, and ways to get around them.

Still like your Visa Debit card? It works just like it always has

A Visa Debit card still uses your own money from your everyday bank account just like a debit card. When you shop with it the “credit” button works wherever Visa is accepted.

If you have a Visa Debit card, there could be some times when you still want to shop with it. That’s no problem: even though you’ve linked your everyday account to your credit card, you can still use your debit card just like you always have.

Maybe you’re in the habit of pressing “credit” with your Visa Debit card and getting purchase protection insurance¹  for your new TV, or using the “credit” button to get around your usual daily limit. These are times when you need your actual Visa Debit card with you.

You might find, though, that your credit card can do similar things (but of course you won’t be using your own money). Our credit card comparison table shows you the extras that you can get with your card.

Link up to six accounts to your credit card

It’s useful having access to two accounts through your credit card, but you can do even more. Depending on the exact accounts you have, you can get as many as six accounts linked to it.

One card, one PIN, three EFTPOS options

Depending on what you’re buying, you might want to use your credit card – say, for a big purchase that you want to earn rewards on – your own money, or money from a joint account.

With the “cheque”, “savings” and “credit” options on EFTPOS machines, you can use a single credit card to choose between three different accounts. It’s the same PIN for whichever account you use.

All you need to do is call us and link these accounts to your card.

You can even pay off your home loan at NAB ATMs

While EFTPOS limits you to three account options on a single card, you can add another three accounts to access through NAB ATMs. This gives you a total of six accounts on one card with one PIN. (At non-NAB ATMs you’ll only have access to the three options that you have at EFTPOS machines.)

There are some accounts that you probably don’t want to get to while you’re shopping, but do want to see at an ATM. How about seeing your home loan balance, for example, and being able to transfer money into it?

When you’re at any NAB ATM you’ll see all six accounts and be able to transfer funds between all of them. You can also take your choice when you withdraw cash, too. (Remember that some transfers and withdrawals, like taking money out from your credit card, can cost you fees or interest.)

Lost your wallet or debit card? Linking accounts can help

It can be surprising how frustrating it is to lose your card or wallet. You might not even realise how much you use your card until you have to go a few days without it. Tell us as soon as possible, and we’ll cancel your lost card and get a replacement out to you as fast as we can.

With your everyday account linked to your credit card, you can stop carrying your debit card with you every day. Leave it at home, separate from your wallet, and it can be your emergency back-up when you need it. While you’re waiting for your replacement credit card to arrive you’ll at least have access to your everyday account.

You can even set up new links between your cards and accounts after you’ve lost a card. If you know where your credit card is, but not your debit card, ask us to link your everyday account to your credit card when you call us about your lost card.

When would you want all your accounts on one card?

Some people love seeing all their accounts on one ATM screen, and some prefer being able to shop from three different accounts with only one card and PIN. What would you find most useful about having all your accounts on a single card? Leave us a comment and let us know.

Related links:

Credit card selector


1. This is only a brief summary of the benefits and exclusions may apply. Purchase Protection Insurance for NAB Visa Debit card is issued by Chubb Insurance Company of Australia Limited (Chubb), ABN 69 003 710 647, AFSL No. 239778 of Level 29, Citigroup Centre, Park Street, Sydney, New South Wales 2000. The terms, conditions and exclusions of Purchase Protection Insurance are specified in the NAB Purchase Protection Insurance policy document information booklet and may be amended.

Skip to topic

Comments

16 Responses to Using your credit card to get to all your accounts

  1. debit card says:

    NAB card is very useful for easy, time saving and safe accessing of multiple accounts in a simple way.

  2. david says:

    received visa debit, how do I put this card on my internet list, with other accounts
    no where on the help section

  3. kath says:

    can we use our 55 day low fee credit card overseas, we do not have another account with nab

  4. Wal says:

    My visa card does not work with any other option besides credit, I only found out today at woolworths because they do not have a credit option for my card. What a pain, if the lazy teller would have told me a week ago when I opened my account I would have never switched banks. I had specifically told him I wanted a chequeing account. I know mine isn’t because even the atm says no chequeing accounts are linked. Horrible service, I would avoid the Fremantle branch.

  5. Zeb says:

    if i have a credit card which is also linked to one other everyday transaction account and i use my card over the Internet for purchase, which account the money is going to be deducted from????

    • NAB says:

      Hi Zeb, if your card is issued as a Visa Credit Card then the Credit account will be the default account accessed when entering the details online. If I can help further, feel free to email us at social.media@nab.com.au, thanks! ^AB

  6. auto title loans says:

    I just read your article on Using your credit card to get to all your accounts and want to thank you for it.

  7. Nami says:

    How should I apply for a new visa debit card as I lost mine?

  8. Brenda says:

    if my credit card account is in credit and I withdraw funds, still keeping it in credit, do fees/interest charges apply?

    • NAB says:

      Hi Brenda, in this case interest wouldn’t apply, however the minimum fee of $1.75 would (rather than the full cash advance fee of 1.75% of the transaction amount).

      To transfer any credit balance out of your credit card account, you will need to follow the instructions below to ensure you are only charged the minimum fee:

      1. You must initiate the transfer at least one business day after you have transferred funds into your credit card, placing your account in credit

      2. The day you transfer the credit balance out of your credit card, you must leave a credit balance of at least $1.75 (to cover the minimum fee)

      3. If you have any transactions in the ‘Purchase Authorisation’ stage on your credit card, you must leave your account in credit by the Purchase Authorisation amount plus $1.75 (in case the purchase authorisation is processed that night)

      4. You can not make any other transactions on the day you transfer the credit balance out of your credit card

      5. You must ensure all transactions that you are expecting to be charged on your account have been processed (so you can be sure the merchant will not process your transaction that evening)

      If you have any further questions, please feel free to send them to social.media@nab.com.au ^AS

  9. Stuart says:

    Can I use my Visa credit card which has my cheque account linked to it to withdraw funds from overseas ATMs. In particular I am traveling to Japan shortly

    • NAB says:

      Hi Stuart,

      if your cheque account is linked to your Visa card at the moment, it remains linked when you’re overseas.

      Note however, that ATMs in some countries will not give you the option to select “savings” or “cheque”and will default instead to withdraw funds from your credit card. Then your attempted withdrawal is actually a cash advance. Cash advances are quite expensive as they incur a fee and the interest rate applied to them is most often higher than the interest rate applied to purchases. And, unlike purchase interest, there’s usually no interest-free period. The interest starts being calculated from the day you make a cash advance.

      You might be best to purchase a NAB Traveller Card and pre-load it with Japanese Yen. This way, there will be no further fees from NAB when using your card overseas. Also,have a read through our suggestions on ways to access your money when travelling by clicking here.

      If you plan to use your Visa, or any of your NAB cards, whilst overseas it is best to notify us by lodging an overseas travel notification. Best way to do that would be to send through a secure message via your Internet Banking advising of your departure and arrival dates, the countries you will be visiting and of a valid contact number for yourself.

      Alternatively, send through an email to social.media@nab.com.au and I’ll have the team follow through ^SN

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>