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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