If you bank with National Australia Bank (NAB), understanding your daily limits is essential for managing your money and making secure transactions. NAB sets different daily limits depending on the type of transaction and your security settings, so here’s a clear, up-to-date guide to how it all works.
NAB Online Banking Daily Transfer Limits
- Default Limit (No SMS Security): Your daily limit for online payments and transfers is $2,500 per NAB ID if you are not enrolled in SMS security.
- Default Limit (With SMS Security): Your default daily limit rises to $5,000 per NAB ID if you are enrolled in SMS security.
- Increasing Your Limit: For transfers to Australian bank accounts, registered customers can raise their daily limit by up to $100,000 per NAB ID; however, they must utilize NAB Internet Banking in a web browser rather than the mobile app.
Pay Anyone, OSKO, Fast Payments, and specific BPAY transactions are all subject to these limitations. These online daily restrictions do not apply to in-branch transactions, direct debits, or transfers between your own NAB accounts.
NAB ATM and Card Withdrawal Limits
- NAB Visa Debit and Business Visa Debit Cards: Each card has a daily cash withdrawal cap of $2,000. This covers any additional cash you ask for during an EFTPOS transaction as well as ATM withdrawals.
- ATM Deposits: The majority of NAB ATMs allow deposits of up to $10,000 in cash per day and up to 50 checks each transaction.
- Credit Cards: Limits for credit card cash advances may vary-check your card’s terms and conditions for details.
International Transfers and Special Payments
- International Transfers: To make these payments, you must be registered for SMS security, and the default daily limit for foreign transfers is $5,000. Your domestic transfer limit and this limit are controlled independently.
How to Check or Change Your Limits
- View Your Limit: To view your current daily transfer limit, sign in to the NAB app or NAB Internet Banking and select Settings > Payments > Payment Limits.
- Change Your Limit: To request an increase or decrease (up to $100,000 per NAB ID for domestic transfers), use NAB Internet Banking in a web browser.
The daily restrictions set by NAB are intended to strike a compromise between security and convenience. The default amount for online transfers and ATM withdrawals for the majority of consumers is $2,500 to $5,000 and $2,000 per card, respectively. You can use SMS security to raise your limitations online if necessary. To prevent surprises, always verify your current limitations before making significant transactions.