Wire transfer is the fastest mode of receiving money in your National Australia Bank (NAB) account from abroad. You can receive money into your National Australia Bank account from a foreign country via International wire transfer. The transaction is initiated by the sender through a financial institution, however, you need to provide your banking details to the sender for successful transfer of money.
International Wire Transfer to National Australia Bank
International wire transfer is one of the fastest way to receive money from foreign countries. Banks use SWIFT network for exchanging messages required for performing international wire transfer. Usually, the receiving bank (in Australia) and the sending bank (in other country) need to have a direct arrangement in place to start the swift transfer – this is sometimes referred to as correspondent banking.
Incoming International Wire Transfer Instructions
To receive international wire transfer in your National Australia Bank account, please provide the following wire instructions to the sending financial institution:
| Bank Name: | National Australia Bank |
| SWIFT BIC Code for National Australia Bank: | For National Australia Bank, this code is NATAAU3303M |
| Branch Name & Address: | Your bank branch name and address |
| Beneficiary Account Number: | Your complete National Australia Bank account number (including leading zeros, if any) |
| Beneficiary Name: | The full name of your account as it appears on your statement |
| Beneficiary Address: | Your complete address |
Note of Caution on Fees: If your money transfer involves currency conversion, there is a high chance you will get a poor exchange rate from the banks and as a result pay high hidden fees. We recommend services like TransferWise for getting best conversion rates and lower wire transfer fees.
Outgoing International Wire Transfer Instructions
To send international wire transfer from your National Australia Bank account, You need to know the following information about the person or company receiving the money:
1. The recipient’s full name and address
2. The recipient’s IBAN or account number
3. Full bank name, address and the SWIFT/BIC code or Branch Number
Incoming Wire Transfer Fees for National Australia Bank (Australia)
International Incoming Wire Transfer Fees for National Australia Bank is as follows:
| Transfers to NAB in Australian or overseas currency: | |
| Deposited to NAB account | Up to $15 |
| Deposited to non- NAB account (NAB acting as intermediary) | Up to $30 |
| Transfers of overseas currency received by NAB and transferred to another bank unconverted: | |
| NAB Customer (or) Non-NAB Customer | Up to $35 |
Outgoing Wire Transfer Fees for National Australia Bank (Australia)
International Outgoing Wire Transfer Fees for National Australia Bank is as follows:
| Payment type | Cost |
| International Money Transfer via NAB Internet Banking (in Australian dollars and foreign currency) |
$22 |
| Over The Counter (in Australian dollars and foreign currency) |
$30 |
Apart from the wire transfer fees, if the transfer involves currency conversion, banks make money on currency conversion as well by giving retail conversion rates to you which is usually 1-2% lower than the market rate. We recommend using services like TransferWise for getting best conversion rates with lower wire transfer fees.
Wire Transfer Cutoff Time for National Australia Bank (Australia)
1. The Wire Transfer Cutoff Time for National Australia Bank for both Incoming and Outgoing is processed from 10 am to 5 pm depending on currency or country.
2. Any requests received after cutoff time will normally be processed the next working day.