# NAB Account from India



## Sai2Aus (Jul 17, 2013)

Hello All,

Im trying to open a NAB account from India.I have few queries regarding the same. 

1. There are 3 accounts NAB Classic Banking,NAB reward saver and NAB isaver plan. Which is a better plan?

2. When trying to apply it is asking for residential address of Australia.I have not finalised any accommodation as of now. So dont have any address.Does this mean only after i get an address I can get a NAB Account?

Thanks in Advance
Sai.


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## whatdoumean (Oct 4, 2013)

You can open the account from India with an Indian address. 
However, note that you can only deposit money in this account, and not withdraw until a time you show up at a branch in Australia, and verify your identity. Thereafter, they unlock your account. Thereafter, You can provide your Australian address at the branch or even change it online.


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## sumdur (Jul 11, 2013)

whatdoumean said:


> You can open the account from India with an Indian address.
> However, note that you can only deposit money in this account, and not withdraw until a time you show up at a branch in Australia, and verify your identity. Thereafter, they unlock your account. Thereafter, You can provide your Australian address at the branch or even change it online.


Thanks. You mean we cannot operate the account till we get the permenent address in Aus. Is my understanding correct.

In other words, we will not be able to withdraw in Aus till we get the address. we should have $ in Hand till we get the address. Please correct my understanding.

Regards,
sumdur


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## Sai2Aus (Jul 17, 2013)

whatdoumean said:


> You can open the account from India with an Indian address.
> However, note that you can only deposit money in this account, and not withdraw until a time you show up at a branch in Australia, and verify your identity. Thereafter, they unlock your account. Thereafter, You can provide your Australian address at the branch or even change it online.


Thanks whatdoumean.Yes i read that in their website. Which account type to choose?can you help me out on this too?


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## sydsider (Feb 15, 2014)

Sai2Aus said:


> Thanks whatdoumean.Yes i read that in their website. Which account type to choose?can you help me out on this too?


You can operate the account after activation. For activation, you have to visit nearest branch with your passport ONLY. Nothing else. They will ask you your Au address, that you will surely have when you are already in Au whether it be for short term or for long term. 

Types: Classic + iSaver if you wish or go for Classic only. In case of iSaver, you get some extra interest for 2-3 months.


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## Sai2Aus (Jul 17, 2013)

sumdur said:


> Thanks. You mean we cannot operate the account till we get the permenent address in Aus. Is my understanding correct.
> 
> In other words, we will not be able to withdraw in Aus till we get the address. we should have $ in Hand till we get the address. Please correct my understanding.
> 
> ...


Hi sumdur,

I clicked a wrong link which was meant for people already in Aus.. 

Open a new account - Bank account Australia - NAB

On this page you find the link to apply for an account from Overseas. 

Sorry for the confusion i created..


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## Sai2Aus (Jul 17, 2013)

sydsider said:


> You can operate the account after activation. For activation, you have to visit nearest branch with your passport ONLY. Nothing else. They will ask you your Au address, that you will surely have when you are already in Au whether it be for short term or for long term.
> 
> Types: Classic + iSaver if you wish or go for Classic only. In case of iSaver, you get some extra interest for 2-3 months.


Hi sydsider, Thanks for the reply .. 

If thats the main difference it shoudnt be an issue..


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## Sai2Aus (Jul 17, 2013)

sumdur said:


> Thanks. You mean we cannot operate the account till we get the permenent address in Aus. Is my understanding correct.
> 
> In other words, we will not be able to withdraw in Aus till we get the address. we should have $ in Hand till we get the address. Please correct my understanding.
> 
> ...


Yes. You can deposit money in the account but cannot withdraw until you have activated it.


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## sumdur (Jul 11, 2013)

Additionally, Do we have any restriction on transfering from Saving A/c from India. as we dont have a NRE or NRO a/c so can we transfer to NAB a/c.

sorry, if you find the question silly, but thats what the purpose of this forum.


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## sumdur (Jul 11, 2013)

I checked with the banks in India and they informed that the money cannot be transferred from my a/c in India to my a/c in NAB.

Anybody who have transferred the money. please suggest


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## peanut48 (Aug 22, 2009)

Has anyone opened an account from India successfully? I have applied but no response...was wondering why.


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## Sai2Aus (Jul 17, 2013)

Hi peanut, 
I have too applied and no response yet.. will check this week and update here..

Hi Samdur, 

From which bank you tried To transfer?

Sent from my GT-I9082 using Expat Forum


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## sumdur (Jul 11, 2013)

Sai2Aus said:


> Hi peanut,
> I have too applied and no response yet.. will check this week and update here..
> 
> Hi Samdur,
> ...


I checked with ICICI. They said u cannot transfer the amount to ur own Resident a/c from India. 

But we can transfer from our relatives a/c to our NAB a/c as maintenance 

I want to know if everyone uses the same route.

It will take 3-4 working days


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## peanut48 (Aug 22, 2009)

Hi

I got my NAB account details today...I applied on Thursday. I also applied for ANZ last night and this morning I had my account details emailed.

Simple and quick process. Note ANZ has $5 monthly account fee which is waived for first 12 months as a migrant and also after that if monthly deposit is above $2000.

Cheers


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## smalltime0 (Jan 5, 2014)

DotNetDoctor said:


> _
> Of these isaver (savings account) is better as it offers better interest rate compared to classic(checking account)
> 
> You can heck NAB website for further details including the differences btw account and interest rate offered
> _


That is true, however you will need a NAB Classic account anyway. Just make sure you transfer anything not needed for transactions into the isaver or reward saver.
If you can manage saving over several months, the reward saver's interest rate is considerably better than the isaver rate (after the isaver's initial rate expires).
You can have both the isaver and reward saver linked into a NAB classic account, which can then be managed online. AFAIK there is no penalty to having all 3 accounts open.


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## Sai2Aus (Jul 17, 2013)

Hi all,

Today morning got my Welcome letter from NAB. It has 2 account nos. One for classic and other for isaver. The letter says i can transfer money to my NAB account from India. 

I called up th ICICI bank customer care.From an ICICI account with internet banking enabled you can wire transfer the money to your NAB account.But if both accounts are in your name thats not possible.If your spouse/friend has an ICICI bank account they can transfer online to your account in NAB. 

Charges are 500RS plus 12.2% service charge other than the exchange rate.

I have not yet done the transfer. Will update once im successful.


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## chennaiguy (Nov 13, 2013)

12.2% is too high. If i want to transfer 1000 AUD then i have to really transfer 1000 + 122 + other charges. Right? 

I would rather prefer to load the travel card.


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## samkalu (Dec 12, 2012)

How long does it take for the account to be created. I submitted yesterday for a isaver reward account.


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## bharathp (Oct 22, 2013)

chennaiguy said:


> 12.2% is too high. If i want to transfer 1000 AUD then i have to really transfer 1000 + 122 + other charges. Right?
> 
> I would rather prefer to load the travel card.


I guess it is 12.36% of rs 500. The same % of service tax is applicable for travel card too.


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## peanut48 (Aug 22, 2009)

Beware: NAB charges upto $15 if you transfer money from India to your NAB account. I wish it was obvious before.



> International Transfers Inward (received)
> 
> Overseas parties that direct a payment to NAB may charge NAB a commission in respect of these transfers, which are included in our fee. Our fee also depends on the currency of the transfer. This fee is usually deducted from the amount paid. In some cases, the sending party may instruct NAB to charge our fee to them. Where NAB does this, NAB will not charge the payment beneficiary and may charge the sending bank a higher amount than set out below.
> 
> ...


Personal banking fees and charges - NAB


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## ThunderDownUnder (Jun 10, 2015)

Below are several Frequently Asked Questions that will help answer some initial questions you may have:
• How do I obtain an Account balance?
Telephone Banking is unavailable until you have arrived in Australia and completed Identification Requirements. Until then you are welcome to contact your NAB banker or the Migrant Banking Team to confirm your account balance. These contact details will be confirmed to you on your account confirmation email. 
We can offer read only Internet Banking access but this will only be offered at the time of your application. If you have submitted your application and still require Internet Banking access please contact our Australia Office immediately and we will amend your application.
• How do I transfer my funds? To transfer your funds to your NAB Account you will need the below information, all of which will be provided to you in your Account Confirmation Email.
NAB Account Number, NAB Account Name, NAB Head Office Address: (This address can be found on your welcome letter) NAB Swift Code: NATAAU3303M 
• What kind of identification do I need to bring? Please note your Passport must be presented to your banker within 6 weeks of your arrival, and stamped by Australian Immigration upon entry into Australia. If you do not do this within 6 weeks you will be asked to present another form of identification at your activation meeting.
• How do I contact my NAB banker? The contact details of your dedicated Migrant Banker will be provided to you, along with your account details, in an email within the next 4 Business days. When you receive these you are welcome to contact your banker to arrange a day and time to meet.
• Can I have a Visa Debit Card? During your first meeting you will be given your ATM Card for immediate access to your funds. Once you have arrived and completed Identification Requirements your banker can order you a card during your first meeting.
• Is my Account held in Australian Dollars? The NAB Classic Banking Account and NAB iSaver are both Australian Dollar Accounts. Any funds received that are not in Australian Dollars will be converted. 
• Do I need a SWIFT or an IBAN to transfer my funds? IBAN is used exclusively by European and British Banks. To transfer funds to your NAB Account you will need a SWIFT Code which will be provided to you in an email along with your account details.


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