Just about every product we test has its foibles. But occasionally one comes along that is surprisingly foible free. And in this Labs, it’s NAB.
It’s immediately apparent that NAB has taken a great deal of care in constructing its online banking facility. Its clean, responsive interface crams just about every feature you could want into a flexible and easy to use package. Navigation via drop-down menu covers the major aspects of online banking, such as transactions and bill payments, as well as giving the ability to apply for a broad range of accounts and services. You can customise your experience by giving accounts nicknames, choosing which accounts appear when you first log in and even how many transactions you want to see per page.
Transfers are catered for, with the usual local and national payments as well as international transfers. Transactions can be filtered by type, amount, reference number or date and exported in a wide range of formats. Statements up to seven years back can be viewed online, but only if you forego paper statements. Past statements mailed to you cost $7 each.
NAB's internal messaging system keeps you posted of changes or new features. Links to these messages appear when you first log in, and you can browse or delete them easily. You can also send an enquiry message for the NAB team to respond to.
Security is also handled well. Login is much like other Australian banks, with a password of between 6-8 alphanumeric characters. So it’s not the strongest in the world, but it can be improved through the use of the free SMS security service. Even here NAB is ahead of the pack; you can choose to place a $300 a day authorisation limit on SMS, so you don’t have to verify small transfers. Alternatively, you can specify individual payees as not requiring authorisation at all. Capping off security is NAB Defence, which will reimburse you for any money taken fraudulently from your account.
Mobile banking is also catered for, with the ability to download a current balance or mini-statement via SMS as well as transfer funds between accounts. The service is free until the end of October this year, then it’ll cost 25c for balance and statements and 40c for a transfer.
There’s very little NAB doesn’t provide. So if you’re looking for a bank with a good understanding of online banking, with solid features and excellent security measures, NAB is the pick of this bunch.
This Review appeared in the September, 2008 issue of PC & Tech Authority Magazine
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