How to Transfer Money Overseas Using National Australia Bank

By the end of this article you should have a much better idea of how to make an international money transfer with National Australia Bank.

If you’re planning to transfer money overseas, you have plenty of choice. One option is to use your regular bank, and as one of the most popular in the country, National Australia Bank (NAB) provides a complete money transfer service.

In this article we'll arm you with everything you need to make an international money transfer with NAB. From how to do it and how much it costs, we'll also suggest some cheaper ways to do it. You can learn and save! Let's get straight into it.

NAB logo

How to send money through NAB to a foreign bank account

To start, let's have a look at an overview of what you need to send money overseas with NAB.

Have an NAB account

You need to be a customer of NAB to use their services. You can apply for an NAB bank account online or visit a local branch.

Register to send money overseas

You will need to be registered for SMS security and have “Pay Anyone” access.

Compare National Australia Bank exchange rates and fees

The best deal for you

TransferwiseRead ReviewTotal (USD)$7,110.07Exchange Rate0.7141Transfer Fees$43.32Transfer Time1-2 DaysLearn MoreTotal (USD)$7,110.07Rate Updated less than 2 mins ago
So, sending 10,000 AUD to the United States comes to $7,110.07 including $43.32 in fees
So, sending 10,000 AUD to the United States comes to $7,110.07 including $43.32 in fees

About TransferWise

Transparency and an easy online experience are the 2 things that set TransferWise apart from the banks and other money transfer companies. If you prefer to bank online, you'll like TransferWise. Setting up an account and making a transfer is very easy. They are also very clear on the exchange rate and fees you'll pay before you make a transfer. Click here for the full review


  • Clear and transparent exchange rates fees
  • The online experience is first class
  • Like the banks, they are regulated by ASIC and registered with AFSL
  • Constantly bringing out new innovative products


  • There are currently a number of global currencies they do not currently support
  • Limited support based in Australia
  • Percentage based fee can add up on very large transfers

More trusted money transfer options

Provider Exchange Rate Transfer Fees Transfer TimeTotal (USD) Rate Updated less than 2 mins ago
TorFXRead ReviewTotal (USD)$7,105.30$4.77 more expensive Exchange Rate0.7105 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate $7,105.30$4.77 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $7,105.30 with no fees.

About TorFX

TorFX are particularly good taking care of customers over the phone but using their website isn't the easiest to use. They don't charge a flat fee which is great but it's important to consider their exchange rates. While, they don't offer fantastic rates for small amounts under $2000 , TorFX offer exceptionally good exchange rates for larger transfers to the UK, New Zealand, South Africa and Europe.


  • No transfer fees
  • Highly competitive exchange rates
  • Secure transfers with authorised
  • Assigned account manager
  • 24 / 7 Assistance
  • Available range of transfer options


  • Limited exotic currencies available
  • Exchange rates on small transfers aren't great
  • Website experience could be better
XERead ReviewTotal (USD)$7,099.58$10.49 more expensive Exchange Rate0.7100 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate $7,099.58$10.49 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $7,099.58 with no fees.

About XE

XE is a well known and trusted name in the money transfer industry. With over twenty years experience, they now help 33,000 people and 2,000 businesses make transfers each year. Over 60 currencies can be transferred with XE and they pride themselves on the free tools and transparent rates they offer. Click here to read the full review


  • Well known and trusted brand.
  • Very informative website. Extensive information on currency and money transfers.
  • XE App is available on both iOS and Android. It allows you to see the interbank rate for over 100 currencies.
  • XE themselves charge no fees for international money transfers.
  • Offers support for both individuals and businesses when it comes to international money transfers.


  • Cannot pay via cash or cheque. Must pay via bank transfer, BPay is also accepted in Australia.
  • Maximum transfer amount is $500,000USD.
  • While XE compares more than 100 currencies, there are only 60 that are available for money transfers.
WorldFirstRead ReviewTotal (USD)$7,098.15$11.92 more expensive Exchange Rate0.7098 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate $7,098.15$11.92 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $7,098.15 with no fees.

About World First

World First was founded in 2004 in the UK and has grown rapidly with offices now in the U.S., Canada and throughout Asia. They consistently receive strong customer reviews and in a recent study, 98% of their clients said they would use them again.World First have a strong online offering, particular for businesses selling online. They do provide local support as well with offices in Sydney. Click here to read the full review


  • No fees and great exchange rates
  • Safe and secure transfers
  • Regulated by ASIC and registered with AFSL
  • Great for personal and business payments


  • Does not accept BPAY, credit card, cheque or cash
  • Limited currencies available
WorldRemitRead ReviewTotal (USD)$7,059.08$50.99 more expensive Exchange Rate0.7062 Transfer Fees$3.99 Transfer Time1-2 DaysGet discounted rate $7,059.08$50.99 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $7,059.08 including $3.99 in fees

About WorldRemit

WorldRemit are particularly good for transfers under $10,000 to destinations across Asia, Africa and South America. Sending money online is significantly easier than using companies like Western Union or Moneygram and their exchange rates and fees are clear and transparent. With 2 million users, WorldRemit has a focus on improving access to remittances for the billions people worldwide who don’t have access to banking. Because of this, WorldRemit has a number of ways to both make and receive transfers. They concentrate on servicing individual needs as opposed to businesses. Click here for the full review


  • They have a great network in Asia and Africa and number of receiving options like cash-pick up or bank transfer.
  • They are clear about their exchange rates and fees
  • No minimum amount


  • Maximum transfer sizes for every transfer
  • No support for business customers
  • They are not licensed to provide financial advice.
OFXRead ReviewTotal (USD)$7,035.43$74.64 more expensive Exchange Rate0.7046 Transfer Fees$15.00 Transfer Time1-3 DaysGet discounted rate $7,035.43$74.64 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $7,035.43 including $15.00 in fees

About OFX

OFX (formally known as Ozforex) is the largest Australian owned money transfer company. It launched in 1998 and grew rapidly until finally listing on the Australian Stock Exchange in 2013. OFX excels in 2 areas – Online experience and customer service. The company was born online and continues to develop easy, intuitive products. While OFX customers do most of their transactions online, they are backed up with exceptional customer service.


  • Better exchange rates compared to banks
  • Highly safe and secure transfers
  • 1 - 2 days delivery times for most countries
  • Quick response time
  • Fantastic customer service


  • Credit cards, cheques and cash are not accepted
  • Transfers to Thailand can take up to 4 days
  • Fees for transfers smaller transfers
ANZRead ReviewTotal (USD)$6,832.00$278.07 more expensive Exchange Rate0.6832 Transfer Fees$0.00 Transfer Time1-2 DaysGet discounted rate $6,832.00$278.07 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $6,832.00 with no fees.
ANZ International Money Transfer is a secure and fast way to transfer money overseas.


  • Fast transfers
  • Safe and secure
  • No fee for transfers under $10 000 via Internet banking


  • $12 fee for transfers under $10 000 via Internet banking
  • Poor exchange rates
  • 24 hour hotline not available
Commonwealth BankRead ReviewTotal (USD)$6,714.93$395.14 more expensive Exchange Rate0.6723 Transfer Fees$12.00 Transfer Time1-2 DaysGet discounted rate $6,714.93$395.14 more expensive GO TO SITE
So, sending 10,000 AUD to the United States comes to $6,714.93 including $12.00 in fees
Commonwealth Bank provides secure and easy transfers to over 200 countries and more than 30 currencies.


  • Fast transfers+ Easy transfers
  • Security guarantee covers any losses from unauthorised transactions


  • $6 fee for transfers under $1000 via Internet banking
  • $12 fee for transfers under $1000 via Internet banking
  • Poor exchange rates
Take into account that we have not compared absolutely every bank and company in Australia. We compare the large, safe and reputable banks and foreign exchange companies that we have already researched, tested and approved. We also may receive a referral fee if you choose one of these banks or companies, but that wont affect the exchange rates or fees you get.

Cheaper alternatives to transferring money internationally with National Australia Bank

If you already bank with NAB, then using them to transfer money from overseas is the easiest option. Just remember it may not be the cheapest.

We can help you work out if you can save any money by using a money transfer company other than NAB. Compare the exchange rates and fees at NAB with your other options below.

Understand how much money you’re sending and who you’re sending it to

  1. Review your bank account and finances to understand how much you need to send.
  2. Work out what currency you are going to be transferring money into.
  3. Get the full name, address, and account number of the person or business you’re sending money to. This cannot be a PO Box.
  4. Fill in the full bank name, address, and SWIFT BIC (Bank Identifier Code) or Branch Number (some countries accept this) of the recipient’s bank.
  5. Get the IBAN (for payments to Europe and selected other countries) or Routing Number (for payments to the US).
  6. Get the routing number or sort code and account number of the recipient.
  7. Destination countries sometimes have extra information requirements for transferring funds. This information varies depending on the country you have to transfer funds to.

Decide how you want to make the transfer

There are several ways to make a transfer through NAB. We've listed the options below.

Online: online banking service

  1. Log into NAB’s online banking portal here.
  2. Choose to send money internationally.
  3. Input all of the relevant details for the recipient and their bank.
  4. Fund your transfer.
  5. The money leaves your account shortly after you submit your transfer, generally within one business day.
  6. The recipient should get the money in one to three business days.
  7. NAB will return your funds if the transfer is unsuccessful.

In a branch

  1. Visit your local NAB branch.
  2. Give the customer service agent your details and security information.
  3. Give all the relevant details for the recipient and their bank.
  4. Fund your transfer.
  5. You’re done!

How long it takes

Depending on the country you’re sending money to, and the currency that you’re exchanging into, funds are normally deposited into the recipient’s bank account within 1 – 3 working days.

NAB fees for transferring money overseas

Here are some of the main fees you need to be aware of:

  • Internet banking — $10 for sending foreign currency, $30 for sending payments abroad in Australian Dollars.
  • In branch — $30.
  • Over the phone — $30.
  • Refund, reissue, or cancellation of payment — $30.
  • Receiving bank fees — International money transfers sent to or from an overseas bank may be subject to commissions, fees, and other charges applied by that bank. These are typically deducted by the overseas bank from the funds paid to the recipient. In some cases, NAB will cover these fees.

*All details shown above are correct as of October 2017.

Advantages of sending money internationally with NAB

  • Very convenient if you already have a NAB bank account.
  • It’s a simple and straightforward process.
  • You can make transfers online.
  • Send money to over 100 countries around the world.
  • Send money in over 50 currencies.

Disadvantages of transferring money abroad with NAB

  • Higher fixed fees than a dedicated currency exchange provider.
  • Worse exchange rates than a specialist money transfer company.

Additional information for transferring money with NAB

There are a lot of numbers and information you hear about when it comes to international money transfers. Below there are extra details you might need for your international money transfer and the things you don't.

NAB IBAN number

IBAN is an account format used by European banks. If you are transferring money to a European bank, you will need the IBAN of that bank.

NAB routing number

You may need a National Clearing Code, Routing Number, BSB Number or Sort Code, you should use the first six digits (bank and branch codes) of your account number. This should be from the account the recipient wishes to receive the payment into. For example, if the account number is 01-0123-0123456-00 use 010123.

NAB international SWIFT code

You shouldn't need NAB's SWIFT code for transferring money overseas. You would need it if you were receiving money from overseas, to your NAB account.

NAB address for international transfers

You shouldn't need NAB's address to send money overseas. You will need the address of the bank you're paying internationally. If you do find you need NAB's address, use that of your local branch.

NAB account number details

You shouldn't need to quote your NAB details to transfer money from the account. You will need all the bank details from the person you are paying.

Notes on International Bank Drafts or Cheques

International bank cheques or drafts can be deposited into an NAB account. It can be a lengthy process. If it is in a foreign currency it will take longer to process as it will need to be returned to the country of origin for clearing. Additionally, the fees associated with these types of payments are very high. This means that we would never suggest using international bank drafts or cheques. It is better to use a different payment method.

Related video: Cheaper alternatives to NAB

Currencies supported by NAB

Here’s the current list of currencies that NAB supports.

Canadian Dollars


British Pounds Sterling

Hong Kong Dollars

Japanese Yen

New Zealand Dollars

United States Dollars

UAE Dirhams

Bangladeshi Taka

Bahrain Dinars

Swiss Francs

Chinese Yuan

Czechoslov Koruna

Danish Kroner

Fiji Dollars

Hungarian Forint

Indonesian Rupiah

Israeli Shekel

Indian Rupees

Jordanian Dinar

Kenyan Shilling

Kuwaiti Dinars

Sri Lanka Rupees

Mexican Peso

Norwegian Krone

Omani Rial

Papua New Guinean Kina

Philippine Pesos

Pakistani Rupee

Polish Zloty

Saudi Arabian Riyals

Solomon Island Dollars

Swedish Krona

Singapore Dollars

Thai Bahts

Tonga Paanga

Vanuatu Vatu

Western Samoa Tala

French Pacific Francs

South African Rand

View currency exchange rates for NAB

Daily rates for transferring funds internationally through NAB are available through their currency converter.

The currency exchange rate you will get does vary from moment to moment.

You will get the up-to-date, dynamic rate when you are booking your transfer through online banking or over the phone.

Further NAB information from The Currency Shop

You can make as many international money transfer transactions as you want, so long as the total value of your transactions falls within your daily “Pay Anyone” limit.

The default daily limit for an International funds transfer through NAB Internet Banking is $5,000. You can call NAB on 1300 651 656 to have this limit raised.

NAB also let you prebook a transfer at some point in the future (a forward contract) with NAB.

Or, you can setup regular international payments if needed.

Exchange rates from NAB explained and compared.

NAB travel money.

NAB travel card review.

National Australia Bank disclaimers

NAB does not check payment details.

If payment details are incorrect it may result in an unsuccessful transfer or the wrong account receiving funds. It is pivotal that you provide the correct details to the person making the payment. This will save time for both parties and ensure you receive your payment without any issues.

Before you use NAB to send your money overseas

Sending money abroad using your bank can be expensive. You will pay higher fees and get a worse exchange rate than you can using a dedicated money transfer specialist.

These specialist currency providers are fast and easy to use, offer excellent exchange rates and have low or non-existent fees, so your money goes further.

Using WorldFirst, TransferWise, OFX, or another dedicated currency exchange provider will save you money. To see how much you could save, take a look at our free online comparison tool.


And that’s it! That is everything you need to know about transferring your money overseas using NAB. Here at The Currency Shop, we want to give you the right information to help you save money and make an informed choice for all your currency exchange needs.

The next time you or someone else needs to send money internationally, check how much you can save using our money transfer comparison tool. If you’ve still got questions we’re here to help, so feel free to give us a call on 1800 004 930.