NAB

 cancellations – how to easily cancel your subscription or service

NAB allows cancellation of most products at any time with no lock-in contracts on core services like transaction accounts and credit cards. Here’s what you need to know:

• Bank accounts: Can be closed anytime, provided there’s a $0 balance and no pending payments or cheques.
  
  
• Credit cards: Can be cancelled once the outstanding balance is cleared. Points and perks are forfeited on closure.
  
  
• Loans: Variable-rate loans can be closed once repaid. Fixed-rate loans may attract break costs.
  
  
• Term deposits: Early cancellation requires 31 days’ notice and forfeiture of part of your interest.
  
  
• Direct debits: You can cancel direct debits through NAB, but you’ll still need to notify the service provider.
  
  

In most cases, as long as your account is in good order, cancellation is allowed with no penalties.

You can cancel NAB products via app, online banking, phone, or in-branch:

🔁 To cancel a bank account:

1. Transfer remaining funds and ensure a $0 balance.
   
   
2. Cancel any linked direct debits or PayIDs.
   
   
3. Use NAB App → Messaging or Internet Banking secure chat to request closure.
   
   
4. Alternatively, contact NAB by calling 13 22 65 or visit a branch.
   
   

💳 To cancel a NAB credit card:

1. Pay off the balance completely.
   
   
2. Redeem any remaining rewards points.
   
   
3. Use the NAB App's “Close credit card account” feature or call NAB to close.
   
   
4. Destroy the card once cancelled. Final statements may follow with any trailing interest.
   
   

🔁 To cancel direct debits:

1. Identify the merchant and debit details.
   
   
2. Use NAB’s Direct Debit Cancellation Form in Internet Banking or call to request a stop.
   
   
3. Notify the merchant separately to formally cancel the subscription.
   

• Bank accounts and credit cards: Usually closed within 1–2 business days once the request is submitted and confirmed.
  
  
• Direct debits: Stop within 2 business days of your request.
  
  
• Loans: Allow 1–2 weeks for settlement if refinancing or discharging a home loan.
  
  
• Term deposits: Require 31 days’ notice for early closure.
  
  

🗓 Pro tips:

• Cancel before fee billing dates to avoid being charged.
  
  
• Allow time to download final statements – they’re accessible for a few months post-closure.
  

NAB doesn’t charge exit fees for personal accounts or cards. However:

• Home loan discharges: May incur a discharge admin fee (~$300) and fixed-rate break costs.
  
  
• Term deposits: Lose part of your interest if withdrawn early.
  
  
• Credit card annual/monthly fees: Generally not refunded if charged already.
  
  
• Final interest or charges: Can appear on credit card statements after closure and still need to be paid.
  
  

Always confirm your final balance and any trailing charges before considering your account closed for good.