NAB drops more fees on business accounts

NAB has removed the monthly service fee from its business internet banking platform NAB Connect, effective immediately.

Customers who use NAB Connect will no longer pay the $20 monthly fee and will have access to a new business cheque account option with no monthly fees.

The bank also launched a new version of NAB Connect which will provide periodical payment capabilities, enhanced multiple payment functionality, easier term deposit processing and additional self-service capabilities and hints and tips.

The new Business Cheque Account will have no monthly fee for businesses with lower average balances – under $40,000 – and who make less than 50 transactions a month.

Frequent users with larger balances will continue to pay the $10 monthly service fee.

Executive General Manager of Working Capital Services, Steve Aliferis, said the changes bring more open and transparent pricing.

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