What's new in NAB Connect

View your letters in NAB Connect

You’ll soon be able to view and download via NAB Connect several types of letters that you currently receive in the mail. This includes some letters for:

• NAB Term Deposit
• NAB Market Rate Facility
• NAB Business Options Loan

Over the coming weeks NAB Connect Administrators will get access to the new ‘Letters’ functionality. They can then give access to other users via self-service.

Note, you will still receive paper copies of these letters, this change just makes them digitally available. More letters will be available online in the future. 

Removal of international payment fee

From 1 October 2023 we will remove the $10 fee for making an international payment with a currency conversion.

All other NAB Connect international payment fees will remain unchanged.

Learn more about making international payments at International money transfers for business.

To give you a simpler way to access all NAB Connect payment types, we're moving the following Direct Entry payment types from under 'Other payment types' into the main 'Payments' menu:

• Direct Credit
• Payroll
• Executive Payroll
• Direct Debit
• Direct Debit - GDES

This change will save you time and make NAB Connect payments more intuitive and easier to use.

Security Officers to be renamed as 'Administrator'

In November 2022 user profiles of 'Security Officer' and 'Security Officer+' will be renamed to 'Administrator'.

Currently, Security Officer and Security Officer+ users display as an 'Authorising user' in the 'Users & permissions' list in NAB Connect. With this change, Security Officers will now display as 'Administrator'.

The current levels of access and permissions held by a Security Officer or a Security Officer+ will automatically be moved across to the 'Administrator'.

Benefits of this change

• Three clear user roles in NAB Connect - Administrator, Authorising user and General user.
• Better visibility of a user's roles and permissions.
• User permission reports and printouts will now display the correct user type.

View Equipment Finance accounts in NAB Connect

We’re making it easier to view more of your business account details in the one place. You’ll soon be able to see account details for three new Equipment Finance accounts in NAB Connect.

If you have one or more Equipment Finance accounts, over the next few weeks you’ll see the account/s appear in the Accounts tab, under the Account details menu.

If you open a new Equipment Finance account in the coming weeks, you’ll see the account details straight away.

What you need to do

To let users view the Equipment Finance account details (new and existing) once they appear in NAB Connect, the Administrator (Security Officer +) will need to link the account/s to Users and a Service.

How to add a User to accounts and services:

1. Log into NAB Connect.
2. Go to Admin then select Accounts.
3. Select the Account and select ‘Assign users’.
4. Select the User you want to give access to, and select ‘Save’.
5. Select  Assign services then Account profile and select  ‘Save’.

Once this is done users will be able to view the Equipment Finance account/s under ‘Account details.’ 

Learn more about NAB equipment finance

New warning message on the NAB Connect Mobile App

Cyber criminals are constantly targeting business customers using NAB Connect.

To help keep your accounts safe, from November you’ll see a new message on the Mobile security token you use to authorise payments on the NAB Connect Mobile app. This change applies to both Android and iOS devices.

The message will remind you that NAB will never ask you to share a code or a one-time password. If you have provided a code or password to a caller, contact NAB Connect immediately on 1300 888 413.

Learn how to protect your business from cyber crime at our Business cyber security hub. 

Your default payment type is changing

In January 2022, we reduced the Fast Payment fee to $0.25 , providing the benefit of faster payment at the same rate as an overnight payment.

To further improve and simplify your payment experience, your default payment method will be updated to Fast Payment in June 2022.

Benefits of Fast payments:

• Faster payments with 24/7 processing for eligible accounts and the ability to transfer funds when it suits you.
• Smarter payment information - see detailed descriptions of up to 280 characters with your Fast Payments.
• Additional security - see who you're paying in real time when you use PayID.

How to change your default payment method

To take advantage of Fast Payments before we make the switch, follow these easy steps:

1. Login to NAB Connect.
2. Go to My Settings.
3. Go to Payment Preferences, 'Pay anyone' section.
4. Select 'Fast payment' as the default payment method.
5. Click 'Save' to apply the changes.

To maintain your existing default payment type:

1. Login to NAB Connect.
2. Go to My Settings.
3. Go to Payment preferences, 'Pay anyone' section.
4. Select 'Overnight' as the default payment method.
5. Click 'Save' to apply the changes.

We're updating NAB Connect to improve your experience. This includes changes in our main menu and in our 'Pay anyone (Domestic)' and 'Pay multiple (Domestic)' features. Keep an eye out for these updates in the coming weeks.

Changes in the main menu

• NAB Rewards is moving from 'Products' to 'Accounts'.
• PayID Register is moving from 'Services' to 'Payments'.
• 'Apply for new account/card' is being renamed to 'Apply for a new product'.

Changes to 'Pay anyone (Domestic)' and 'Pay multiple (Domestic)'

• Previously these payment features opened on a full screen in your browser. This is being updated so you can access other menu items while in the screen.
• We're improving the speed of creating payments.

Take advantage of Fast Payments

On 1 January 2022, we reduced the Fast Payments fee to $0.25 to be in line with the overnight payment fee. By using Fast Payments, you can effectively send and receive your payments faster with no additional charge. With Fast Payments, you can:

• Make transfers online in under 60 seconds, 24/7.
• See who you're paying in real time when you use PayID.
• Send setailed descriptions of up to 280 characters with your Fast Payments

How to make Fast Payments

When you create a 'Pay anyone' payment in NAB Connect, simply select the 'Fast Payment' option.

How to make Fast Payments your default payment method

To save time and enjoy the ongoing benefits, you can change your default payment method to Fast Payments.

1. Log into NAB Connect on your desktop.
2. Go to My Settings.
3. Under Payment preferences scroll to the 'Pay anyone' section.
4. Select 'Fast Payment' as the default payment method.

Reduced fees for Fast Payments

As of 1 January, the NAB connect Fast Payment standard fee was reduced from $0.40 to $0.25 per transaction, so you can now enjoy the benefits of Fast Payments when creating your payment, at the same rate as a standard overnight payment.

If you used the 'Fast Payment' option to make a payment as of 1 January 2022, you can expect a reduction in the Fast Payment transaction fee amount in your upcoming January tax invoice.

New features on your Account Summary

There's a new section on the NAB Connect Account Summary page towards the bottom right side. This section provides you with information on the latest products and services. Additionally, Security Officers will notice that the 'Apply for new account/card' page has been refreshed and is easier to navigate.