Terms and conditions Definitions and other information

We haven’t asked you or any other person to provide any form of mortgage, guarantee or other security for your agreement with us. Any security you (or another person) have provided to us (for example, as part of a home loan) won’t be applied to this agreement and, in the same way, will not be affected by this agreement.

If law makes a term of this agreement illegal, void or unenforceable, you and we agree that the affected term will be read down so this does not occur. If this can’t be done, you and we agree that only the affected term is to be excluded and the rest of this agreement should not be affected.

If this agreement uses the terms ‘includes’, ‘including’, ‘for example’ or similar expressions, anything referred to after those words does not limit what else may be included.

We can’t be responsible for additional services offered by third parties which can be used with your account (for example, digital wallets) unless of course in a particular circumstance the law makes us responsible.

Our agreement is governed by the laws of Victoria.

Any court cases involving our agreement can be held in the courts of any State or Territory of Australia with jurisdiction. We’ll give any legal protections available to you in the State or Territory in which you live.

Our commitment to be fair

When we exercise a right or discretion under our agreement and any additional terms and conditions (like considering a request you make or deciding whether or not to do something), we’ll do it in a way that is fair and reasonable. This includes when we make changes to the product or fees and charges. We can take a range of things into account when exercising our rights and discretions. These can include:

• our legal obligations, industry codes and payment scheme rules and the expectations of our regulators;
• protecting our customers, staff our and systems and the personal information we hold;
• what you have told us about yourself and how you will use our products and services (including if it’s misleading, incorrect or you haven’t provided us with all of the information we reasonably need when asked);
• how our products and services are intended to be used (and how you have used them);
• our public statements, including those relating to protecting vulnerable persons, the environment or sustainability;
• community expectations and any adverse impact on our reputation;
• whether we need to take any action to protect you or another person from a potential fraud or scam; and
• risk management, including sanctions risk management.

Unacceptable Account Conduct

We seek to protect our customers from harm arising from unlawful use of, or financial abuse conducted through, our products. We recognise financial abuse may happen to anyone and can include forms of family and domestic violence or elder abuse.

We will investigate instances where we identify or are made aware that a product is being used in a financially abusive manner, including coercive or controlling behaviour to limit a person’s access to or use of funds.

We may reasonably exercise our rights in this contract to block use of a card or your account, or not agree to a credit limit increase, if we reasonably consider it appropriate to protect a customer or another person from financial abuse.

If you are concerned about your banking safety call our NAB Customer Support Hub on +1300 308 175 or refer to nab.com.au/bankingsafety, opens in new window.

You might also call it a glossary, definitions, or a list of important words and phrases. Either way, this section can help you make sense of any part of this agreement that feels a little unfamiliar.

This is important information we are required by law to give to you. 

Things you should know about your proposed credit contract

This statement tells you about some of the rights and obligations of yourself and your credit provider. It does not state the terms and conditions of your contract.

If you have any concerns about your contract, contact your credit provider and, if you still have concerns, the AFCA scheme, or get legal advice. 

The contract

1. How can I get details of my proposed credit contract? 

Your credit provider must give you a precontractual statement containing certain information about your contract.

The precontractual statement, and this document, must be given to you before: 

• your contract is entered into; or
• you make an offer to enter into the contract; whichever happens first. 

2. How can I get a copy of the final contract? 

The credit provider must give you a copy of the final contract within 14 days after it is made. This rule does not, however, apply if the credit provider has previously given you a copy of the contract document to keep. If you want another copy of your contract, write to your credit provider and ask for one. Your credit provider may charge you a fee. 

Your credit provider has to give you a copy:

• within 14 days of your written request if the original contract came into existence 1 year or less before your request; or 
• otherwise within 30 days of your written request. 

3. Can I terminate the contract? 

Yes. You can terminate the contract by writing to the credit provider so long as: 

• you have not obtained any credit under the contract; or
• a card or other means of obtaining credit given to you by your credit provider has not been used to acquire goods or services for which credit is to be provided under the contract. 

However, you will still have to pay any fees or charges incurred before you terminated the contract. 

4. Can I pay my credit contract out early? 

Yes. Pay your credit provider the amount required to pay out your credit contract on the day you wish to end your contract. 

5. How can I find out the pay out figure? 

You can write to your credit provider at any time and ask for a statement of the pay out figure as at any date you specify. 

You can also ask for details of how the amount is made up. Your credit provider must give you the statement within 7 days after you give your request to the credit provider. You may be charged a fee for the statement. 

6. Can my contract be changed by my credit provider? 

Yes, but only if your contract says so. 

7. Will I be told in advance if my credit provider is going to make a change in the contract? 

That depends on the type of change. For example: 

• You get at least same day notice for a change to an annual percentage rate. That notice may be a written notice to you or a notice published by your credit provider.
• You get 20 days’ advance written notice for:
  • a change in credit fees and charges; or 
  • any other changes by your credit provider, 

except where the change reduces what you have to pay or the change happens automatically under the contract.

8. Is there anything I can do if I think that my contract is unjust? 

Yes. You should first talk to your credit provider. Discuss the matter and see if you can come to some arrangement. 

If that is not successful, you may contact the AFCA scheme. The AFCA scheme is a free service established to provide you with an independent mechanism to resolve specific complaints. 

The AFCA scheme can be contacted at: 

Telephone: 1800 931 678 (free call)

Website: https://afca.org.au, opens in new window

Email: info@afca.org.au

Postal address: Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001
Australia

Alternatively, you can go to court. You may wish to get legal advice, for example from your community legal centre or Legal Aid. You can also contact ASIC, the regulator, for information on 1300 300 630 or through ASIC’s website at http://www.asic.gov.au, opens in new window. 

General 

9. What do I do if I cannot make a repayment? 

Get in touch with your credit provider immediately. Discuss the matter and see if you can come to some arrangement. You can ask your credit provider to change your contract in a number of ways: 

• to extend the term of the contract and reduce payments; or
• to extend the term of your contract and delay payments for a set time; or 
• to delay payments for a set time. 

10. What if my credit provider and I cannot agree on a suitable arrangement? 

If your credit provider refuses your request to change the payments, you can ask your credit provider to review this decision if you think it is wrong. If your credit provider still refuses your request, you can complain to the AFCA scheme. Further details about this scheme are set out below in Question 12. 

11. Can my credit provider take action against me? 

Yes, if you are in default under your contract. 

But the law says that you cannot be unduly harassed or threatened for repayments. If you think you are being unduly harassed or threatened, contact the AFCA scheme or ASIC or get legal advice. 

12. Do I have any other rights and obligations? 

Yes. The law will give you other rights and obligations. You should also read your contract carefully. 

If you have any complaints about your credit contract, or want more information, contact your credit provider. You must attempt to resolve your complaint with your credit provider before contacting the AFCA scheme. 

If you have a complaint which remains unresolved after speaking to your credit provider you can contact the AFCA scheme or get legal advice. 

The AFCA scheme is a free service established to provide you with an independent mechanism to resolve specific complaints. The AFCA scheme can be contacted at:

Telephone: 1800 931 678 
Website: https://afca.org.au, opens in new window
Email: info@afca.org.au
Postal address: Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001
Australia

Please keep this information statement, you may want some information from it at a later date.