NAB

About NAB International Money Transfers

As one of Australia’s big 4 banks NAB has a range of options for personal international money transfers, whether you want to do your transfer yourself online or get help at one of its branches around Australia. You’ll have a wide range of currency options with NAB (over 100), from the more familiar currencies like USD, EURO and Pounds through to currencies like the Peruvian Nuevo Sol or Nepalese Rupee.

NAB Exchange rates

Rates and fees verified as correct at 03 April, 2020. Other information correct at the time of writing.

Interested in transferring your funds today, here’s the exchange rates you’ll get for some of the most popular currencies NAB provides money transfers to.

Currency	At today's NAB Rate, 1 AUD buys*	For 10,000 AUD recipient will get
Australian Dollars (AUD) AUD	AUD 0.0	AUD 0
United States Dollars (USD) USD	USD 0.5802	USD 5,796
Euros (EUR) EUR	EUR 0.5349	EUR 5,344
Great Britain Pounds (GBP) GBP	GBP 0.4688	GBP 4,683
Canadian Dollars (CAD) CAD	CAD 0.8212	CAD 8,204
Danish Krone (DKK) DKK	DKK 3.9931	DKK 39,891
Hong Kong Dollars (HKD) HKD	HKD 4.4976	HKD 44,931
Indian Rupee (INR) INR	INR 44.855	INR 448,101
Japanese Yen (JPY) JPY	JPY 62.62	JPY 625,574
New Zealand Dollars (NZD) NZD	NZD 0.9813	NZD 9,803
Norwegian Krone (NOK) NOK	NOK 6.0467	NOK 60,407
Philippine Peso (PHP) PHP	PHP 29.33	PHP 293,007
Saudi Riyal (SAR) SAR	SAR 2.1824	SAR 21,802
Singapore Dollars (SGD) SGD	SGD 0.8295	SGD 8,287
South African Rand (ZAR) ZAR	ZAR 10.7664	ZAR 107,556
Swedish Krona (SEK) SEK	SEK 5.8576	SEK 58,517
Swiss Francs (CHF) CHF	CHF 0.5648	CHF 5,642
Thai Baht (THB) THB	THB 19.296	THB 192,767
UAE Dirham (AED) AED	AED 2.1282	AED 21,261

Transferring money overseas via NAB

Transfer maximum: If you’re using online banking you’ll only be able to transfer funds up to your online banking pay anyone limit. The default is $5000 but you can transfer up to $20,000 if you are registered for SMS security. You may need to increase this if you are making a large transfer but you’ll need to visit a branch.
Speed of transfer: It generally takes 1-3 business days for the funds to hit your recipient's account from the time of transfer, though it can take longer for less frequently traded currencies. Also you will need to be aware of cut off times for processing.
Transfer Fees: It is cheaper for you to transfer your money yourself using internet banking which is charged at a flat fee of $22. In person at a branch costs $30. The fee isn’t based on the transfer amount or currency it is charged per transaction.

IMT Services at NAB

If you’re after a simple way to transfer money overseas NAB provides this service through its standard internet banking platform. So there is no need to sign up for a special IMT account, as long as you have the “pay anyone” and SMS security feature activated in NAB’s internet banking you’re all set to make your first international money transfer.

You can make a one-off transfer or schedule regular payments in advance, the platform gives you flexibility to do all of your international banking yourself.

If you haven’t transferred money internationally before, NAB has videos you can watch that provide step by step instructions, or you can visit a branch and get them to walk you through the process. If you need to transfer a large amount you may need to visit a branch to set up the transfer.

Spot contractsSpot contracts	Just made a spontaneous purchase on an 18 Century French Bureau or a villa in Tuscany and need to transfer your deposit pronto.
Forward contractsForward contracts	Heard rumours that exchange rates are about to drop and you want to lock in a rate but aren't ready to make your transfer just yet?
Regular paymentsRegular payments	You've started your own custom design t-shirt business and you've got to regularly pay your suppliers based in China.

Why choose NAB for your international money transfer?

Everyone has different overseas money transfer needs so it’s about finding the right fit for you. If you’re an existing NAB customer you’ll already have the ability to transfer money overseas right now, but if you’re thinking of becoming a customer, here’s a few reasons why you might want to choose NAB:

Easy to use online banking platform with explainer videos
NAB is one of Australia’s biggest banks
You have over 100 currencies to choose from
You have the option of doing-it-yourself or visiting a branch
NAB charges a flat fee for IMT, fees are not based on currency or transfer amount

How to transfer money with NAB

You’ll need to be a NAB customer and have NAB internet banking set up. It is easy to become a customer, you can do this online, over the phone or at one of NAB branches around Australia. You will need to have NAB Internet Banking and activate the pay anyone and SMS security.

You will need the following information to send an overseas payment:

Full name, address and account number for the person you want to send the money to (not a post office address)
Currency and amount that you want to send
The IBAN or bank account number
A SWIFT code or BIC (this identifies their bank) or the full bank address
Any other information they have like sort codes or routing codes

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*The exchange rates offered by each provider are indicative exchange rates that have either been supplied by each provider or gathered by Mozo. Exchange rates fluctuate constantly and as a consequence the exchange rates listed here may vary to the actual exchange rate you are quoted by a provider. Please ensure you confirm the actual exchange rate with the relevant provider prior to conducting any transaction. These exchange rates are updated every hour.

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