National Australia Bank

Universal bank · Melbourne, Australia

National Australia Bank is a Melbourne-based big four bank that describes itself as Australia's largest business bank, with more than 38,000 employees and about 8.5 million customers. It owns Bank of New Zealand and the UBank digital brand, and bought Citigroup's Australian consumer business in 2022. Offices in Asia, the UK and the US serve corporate and institutional clients only. The Business Everyday Account comes in a $0 monthly fee version for online-only businesses and a $10 version with 15 free assisted transactions. In August 2025 the Federal Court fined NAB and AFSH A$15.5 million for mishandling 345 hardship applications.

Legal name: National Australia Bank Limited
Regulated by: APRA (Australia), ASIC (Australia), AUSTRAC (Australia), RBNZ (New Zealand, Bank of New Zealand)
Licence confirmed: yes, on a regulator's own list
Established: 1981
Website: www.nab.com.au

Scores, 0 to 10

8.5Financial strength & stability

AA- (S&P) and Aa2 (Moody's) with USD 734bn in assets; recent regulatory action limited to a A$15.5m hardship penalty in 2025. · source

7.5Asia-Pacific (SG, HK, AU, JP, KR)

Largest business bank in Australia, owner of Bank of New Zealand, with corporate offices in Asia. · source

7.5Business cards (Visa, Mastercard)

Business credit cards carry a 3.5% international transaction fee and the Business Visa Debit card 3%; the cards page also lists a NAB Virtual Corporate Card with single or multi-use numbers and controls on value, expiry and merchant type. · source

6.5Lowest fees

$0 monthly fee option with unlimited electronic transactions; $10 option includes 15 assisted transactions; assisted transactions otherwise $3 each. · source

6.5Fast digital onboarding

Online application in about 10 minutes with details within 1 to 2 business days, but only for Australian tax residents living in Australia. · source

6.5Trade, manufacturing & import-export

Letters of credit and guarantees for import, export and domestic trade, plus foreign currency accounts and FX hedging. · source

6.0Cross-border payments, FX and multi-currency accounts

$0 international transfer fee in foreign currency via NAB Connect and foreign currency accounts, but the number of currencies and FX margin are not published. NAB Connect and Direct Link host-to-host channels with foreign currency accounts and FX hedging; corporate offices in Asia, the UK and the US. · source

6.0Off-ramp: crypto to fiat in a business account

NAB's FAQ says customers can still withdraw from crypto exchanges to their NAB account, so exchange proceeds are accepted, but no business source-of-funds process for crypto proceeds is published. · source

5.5Online businesses: e-commerce and SaaS

Business Everyday Account with unlimited EFTPOS and online transactions, but no multi-currency collection accounts for marketplaces are listed. Foreign Currency Account in 16 currencies with no opening or monthly fee (CNY for business customers only), but no API or Stripe integration for software firms. · source

5.5On-ramp: buy crypto with fiat

Since 18 July 2023 NAB declines card, funds transfer and PayID payments to exchanges it classes as high-risk, for personal and business customers alike, without publishing the list; payments to other exchanges go through and NAB's own page states no monthly cap. · source

4.0United Kingdom

NAB keeps a UK business serving corporate and institutional clients; the majority of operations are in Australia and New Zealand. · source

4.0United States

NAB's US business serves corporate and institutional clients only. · source

4.0Best interest on business balances

Business Cash Maximiser pays 1.25 percent on balances of $10,001 or more and nothing below (Finder, 6 September 2026). · source

4.0Fintech companies that need a partner bank

NAB acquired the 86 400 neobank and runs UBank, but publishes no safeguarding or BaaS programme for third-party payment firms. · source

4.0Startups & VC-backed companies

Startups are onboarded as ordinary SMEs; directors must be Australian tax residents living in Australia. · source

4.0High-risk verticals (iGaming, cannabis, adult, forex)

The ESG risk appetite statement restricts nuclear, arms dealing, predatory financing, thermal coal and tobacco but says nothing about gambling, adult or cannabis, so no policy on these verticals is published. · source

3.5Foreign-owned & non-resident companies

Online applications require living in Australia as an Australian tax resident; foreign entities apply in branch and each signatory and beneficial owner provides ID at a branch or to a banker. · source

2.5Crypto-friendly bank

No published policy for onboarding crypto exchanges, and NAB shut its own AUDN stablecoin in June 2024. · source

2.5Stablecoins (USDC, USDT and others)

NAB shut its AUDN stablecoin project in June 2024 and in April 2026 only tested settling a tokenised term deposit with a third-party stablecoin in the RBA's Project Acacia; no stablecoin account or payout is open to clients. · source

1.5Customer satisfaction

Trustpilot 1.6 out of 5 from 547 reviews with 77 percent one-star ratings. · source

1.0Crypto wallet and custody for a business

NAB offers no crypto wallet or custody to business or personal clients; its only digital asset work is pilots such as the tokenised term deposit it tested in Project Acacia in April 2026, checked September 2026. · source

1.0Accept crypto payments

NAB's merchant and business payment products (EFTPOS terminals, business transaction accounts) include no crypto or stablecoin acceptance, checked September 2026. · source

1.0Bitcoin

NAB offers no bitcoin buying, holding or transfer to business clients, checked September 2026. · source

1.0Ethereum

NAB offers no ether buying, holding, transfer or staking to business clients, checked September 2026. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.