Explore your NAB Classic Banking offset account

What you should do from 24 February 2024

Your Citi Standard Offset Home Loan Account will move to your NAB home loan account on 24 February 2024, and your funds will be transferred from your Citibank Offset Savings Account to your NAB Classic Banking offset account on the same day. You should complete the set-up of your NAB Classic Banking offset account by putting the following arrangements in place by 24 February 2024:

1. Set up salary payments and inward payments.
2. Review and update your outward payments from your Citi branded account to your NAB Classic Banking offset account.
3. Update outward scheduled payments from your Citi branded account to your NAB Classic Banking offset account.
4. Set up your PayID, if relevant to you.

Set up salary payments and inward payments to take effect by 24 February 2024

We’re unable to help you set up the following for your account, so you’ll need to do these yourself.

Your salary

Update your account details with your employer by advising them of your NAB Classic Banking offset account details using our salary transfer form (PDF, 246KB), opens in new window.

Other inward payments (such as government payments, Medicare, dividends etc.)

Contact the relevant department, agency or third-party provider and provide your NAB Classic Banking offset account details.

Inward international payments 

You’ll need to advise each payer to update your account details to your NAB Classic Banking offset account using NAB’s SWIFT Code NATAAU3303M. See how to receive money from overseas.

Review and update your outward payments from your Citi branded account to your NAB Classic Banking offset account

You’ll find a letter in NAB Internet Banking which provides a list of direct debit arrangements and periodical or recurring payments on your Citi branded account for the previous 13 months.

Payment types that won't be included in the letter are:

• international inward and outward payments
• cheque inward and outward payments
• inward payments made through OSKO
• inward and outward Real Time Gross Settlement payments.

You can view this letter by:

1. Logging in to NAB Internet Banking.
2. Selecting Profile & Settings.
3. Selecting ‘Letters’.
4. Tapping ‘Search’ to display letters.

Direct debits which we’ll update for you

We’ll update the below direct debit arrangements from your Citi branded account to your NAB Classic Banking offset account to take effect from 24 February 2024:

• Direct debits to Citi branded home loans, Citi branded credit cards, and Citi branded personal lending accounts
• Direct debits to other non-NAB branded credit cards and other non-NAB branded products issued by the NAB Group.

Direct debits that you’ll need to update

Unfortunately, we’re unable to update any other direct debits for you (such as utilities, insurance payments and toll operators) and you’ll need to do this if you would like the direct debits to continue after 24 February 2024. See how to switch direct debits and payments.

Update outward scheduled payments using NAB Internet Banking or the NAB app

We’re unable to update any outward scheduled payments set up from your Citi branded account for you. You’ll need to do this yourself if you’d like these payments to continue from 24 February 2024.This includes:

• One off and recurring outward scheduled ‘Pay Anyone’ payments to a BSB and account number payee (this includes payments to Citi branded accounts and accounts with other Australian financial institutions)
• One off and recurring scheduled BPAY® payments (any payments to a BPAY® Biller code and Customer Reference Number).

See how to schedule or edit regular payments and how to set up a regular BPAY payment.

Your domestic payee list from Citi Online will be moved to NAB Internet Banking and the NAB app (this includes any saved domestic BPAY® payees and BSB and account numbers) between 21 November 2023 and 12 December 2023, and will be available from that time.

Before you move your payments, please make sure that you have sufficient funds in your Citi branded account to meet payments to be made from that account up to and including 23 February 2024, and that you have sufficient funds in your NAB Classic Banking offset account at the relevant time, to meet your payments to be made from that account.

Set up PayID®

PayID is a way to receive money using your mobile number, email address or ABN – without the need to remember your BSB and account number.

If you had set up a PayID on your Citi branded account, it will be cancelled when your Citi branded account is closed. If you wish to transfer this to your NAB Classic Banking offset account before your Citi branded account closes, you’ll firstly need to close the PayID on your Citi branded account. See Citibank PayID, opens in new window.

Once you’ve closed your PayID connected to your Citi branded account, you can connect the PayID to your NAB Classic banking account. See how to create a unique PayID.

International payments

If you receive funds from overseas into your NAB Classic Banking offset account, you’ll need to advise the sender of your NAB Classic Banking offset account details including NAB’s SWIFT Code NATAAU3303M. See how to receive money from overseas.

We’re here to help

We’ll contact you separately about each product that you have, and you’ll receive a separate NAB Visa Debit Card for each eligible Citi branded account migrating to a NAB Classic Banking account.

We’re here to help you at every step and have set up a dedicated team to ensure that your accounts are successfully migrated. We’re committed to helping you and keeping you up to date through this process.

If you have any questions, you can contact us via NAB Messaging by selecting the speech bubble icon in the bottom right corner of your screen or call us on 1300 135 777 (+61 3 9322 6489 from overseas). We’re available weekdays from 8:00am to 7:00pm and weekends from 9:00am to 6:00pm AEST/AEDT.

​If you hold a Citi branded credit card or personal loan, there is no change for now and you can continue to use your account as normal. We’ll contact you with plenty of notice of any change.

Find out more about the move to NAB.