What’s a Cross Border Original Credit Transaction?
A Cross Border Original Credit Transaction (OCT) is a transaction where funds are transferred from a foreign source to your credit or debit card. These transactions can include refunds, rebates or other credits from merchants or service providers located outside of Australia.
OCTs are a legitimate method of transferring money directly to a recipient’s account. However, like other payment methods, cross border OCTs are at risk of being used for fraudulent purposes.
We’re restricting some Cross Border Original Credit Transactions
From 1 October 2024, we’re introducing new protections by declining some transactions that originate as a Cross Border Original Credit Transaction (OCT).
We’ve noticed an increase in cross border OCTs. We have a range of regulatory obligations, including compliance with international sanctions. To manage these, we won’t be accepting cross border OCTs unless they meet our risk criteria.
We’ll continue to monitor what is blocked on a regular basis and make further changes if needed.
We’ll also continue to invest in our security capabilities and strengthening our systems to help protect our customers and communities from evolving threats.
How these changes may affect you
If a merchant attempts to make a cross border OCT payment to your NAB Now Pay Later (NNPL) card, NAB Visa Credit or Debit card, the transaction may be declined, and they will be shown a message which says ‘Transaction not permitted to cardholder’.
You don’t need to contact us or take any further steps to prevent the payment from going through. Any reattempts to process the same payment in the same way will continue to be blocked.
How to complete a declined transaction
You can still complete your transaction if it’s been declined (subject to the product terms and conditions). You can receive payments from overseas by providing your account details to the payment sender and requesting they send an international funds transfer instead, using our preferred SWIFT Code/BIC: NATAAU33.
Suspicious payments
If you suspect a payment that a merchant is trying to send may be fraud or a scam, please contact us as soon as possible.
Personal bank customers
Within Australia: 13 22 65
From overseas: +61 3 8641 9083
To get you to the right team faster, please follow these steps:
- Press ‘3’ on the main menu.
- Select the menu option most appropriate for your situation.
Business bank customers
Within Australia: 13 10 12
From overseas: +61 3 8641 9083
To get you to the right team faster, say ‘Fraud’ when prompted.
Important information
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