NAB Business Card

Information verified correct on September 29th, 2016

Offering flexible business transactions your employees can make use of.

NAB has long been one of the most popular choices of bank for many Australians, servicing over 12 million customers worldwide. This means that they are well placed to understand the needs and requirements of businesses of any size and shape.

NAB’s range of business charge cards means they have some excellent solutions for your business, allowing you to accommodate those of your staff who are required to make purchases on behalf of the business or those who need to incur business expenses from time to time.

Product NameNAB Business Card
Purchase rate (p.a.)15.50% p.a.
Annual fee$108 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 35 days on purchases
Cash advance rate (p.a.)15.50% p.a.
Card TypeVisa/MasterCard
Late Payment Fee$9
Foreign Currency Conversion Fee (VISA)3% of transaction value
Foreign Currency Conversion Fee (MC)3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Annual Fee$108 p.a.
Late Payment Fee$9
Cash Advance Fee$2.50 or 2% of the transaction amount (whichever is greater)
Overseas Cash Advance Fee$100
Foreign Currency Conversion Fee (VISA)3% of transaction value
Foreign Currency Conversion Fee (MC)3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes
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NAB Business Card Review

With the NAB Business Card, NAB aim to make it even easier for small to medium sized businesses to operate efficiently without having to fuss with cheques or reimburse your staff from receipts after they have paid the bill from their own pocket. The NAB Business Card gives your business the flexibility of allowing nominated employees the ability to make business transactions with their own company charge card.

NAB Business Card Benefits

  • Interest-free days. Enjoy up to 35 interest-free days on eligible purchases.
  • Interest rates. The NAB Business Card has an ongoing interest rate of 15.5% p.a. on purchases and cash advances.

NAB Business Card Features

  • Interest-free period. The NAB Business Card is a charge card that comes with up to 35 days interest-free on valid business purchases. This offers an opportunity to improve business cash flow, as you have a maximum of 35 days in which to pay off your balance before incurring interest charges.Interest free days don’t include cash advances, which include transactions such as withdrawing cash from an ATM or the purchasing of travellers’ cheques. Cash advances also take into account bills paid at a bank, financial institution or through Australia Post. Cash transactions are charged interest at the cash advance rate from the date of the transaction.
  • Statements. Each month you’ll receive a detailed statement for each cardholder, not just for the total account. This gives you the assurance that you can clearly see which of your employees are making what debits from your business account. This can also make business reporting much easier come tax time.
  • Liability insurance. Another great reason to choose the NAB Business Card for small to medium sized businesses is the complimentary liability insurance.This may cover you in case your employees make an unauthorised transaction on your business’ NAB Business Card. The liability insurance indemnity is limited to $20,000 per cardholder and to $150,000 for the business in each policy year.
  • Individual cardholder credit limits. Gone are the days of having to ask around the office to find out who has the company card or trying to remember who used it last. With the NAB Business Card, multiple staff members can have their own charge card issued. The number of cardholders isn’t restricted so you could give one to each of the employees that needs it, although this comes with a monthly fee of for each additional card.Business owners have the advantage of being able to set individual credit limits for each card. After all, both the staff member who purchases the tea and coffee for the office and the employee who is required to attend a meeting overseas will be required to use their card for business expenses, but most likely on very different scales.By allowing you to set different limits for each cardholder, you can ensure that you have control and flexibility over the expenditures made through the cards whilst allowing anyone you feel in your business should have their own card to have one with a limit appropriate to the business expenses that they may incur.
  • Visa or Mastercard. You can further tailor the NAB Business Card to what suits you and what you prefer by opting to have your NAB Business Cards issued as either a Visa or a Mastercard.Fees will differ per transaction based on which of these options you choose. These fees are percentage of the converted AUD amount shown on your statement.
    DescriptionVisa FeeMasterCard Fee
    Single Currency Transaction3.0%3.0%
    Multi-Currency Transaction3.0%3.0% (through international merchant)3.0% (through Australian merchant)
  • Personalised cards. The exposure and visibility of your business name and brand is essential, so the NAB Business Card allows businesses to display a personalised design on their card. The NAB business banking sector recognises this, and is focused on helping businesses become successful, not only in big overarching projects but also in the finer details. This can include your business name, logo or graphic.
    This will also help you or your employees to pick out the right card from your wallet!
  • Multiple cards. Regardless of how many individual NAB Business Cards you have, you can monitor it all through one facility which also makes it easier for you to manage the account.
  • Credit limits. Each individual NAB Business Card issued comes with a minimum credit card limit of . However, the overall facility credit limit minimum is set to $5,000.
  • Accessing your accounts. The NAB Business Card can be used to pay for purchases online, over the phone, in person or at any outlet where Visa or MasterCard are accepted. The card can be used at ATMs to withdraw cash or to pay for purchases via EFTPOS.NAB Telephone Banking is also available. This facility allows you to hear the details of your last five transactions or to transfer cash from your regular NAB business banking account into your credit card account, if required. Transactions can be viewed online either by NAB Internet Banking or NAB Connect via the NAB’s secure online banking portal. Most importantly in this modern day when many businesses transcend national borders, the NAB Business Card is accepted at millions of locations worldwide.
  • Repayments. The closing balance of the account must be paid in full by direct debit each month.Back to top

    Applying for the NAB Business Card

    You can apply for this credit card account by clicking the Apply link.

    Along with your completed application form, you will be required to provide the following:

    • The last two years’ worth of business financial statements.
    • Interim business financial statements, such as profit/loss statements or BAS.
    • Personal Taxation Returns for the last 2 years for all business partners or directors.Your application may also require a Director’s Guarantee if your business is an incorporated company.

    You will also need to disclose the following information:

    • Assets and liabilities for the company directors and any business partners.
    • Details of payments being made for any current business loans outstanding.

    Once you’ve submitted your application, you should receive a notification email. Shortly after NAB has received your NAB Business Card application, they will contact you to advise you of the progress of your application.

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