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Business Solutions > International trade > Payment methods > International trade services - Fees and charges

International trade services

a guide to Fees and Charges
effective 1 January 2008

CONTENTS

Product Disclosure Statement

Imports

Documentary Collections - Inward D/P (Sight) or D/A (Term)
Letter of Credit Outward (Establishment) - Import/local/stand-by
Letter of Credit Outward (Drawing) - Import/local/stand-by

Exports

Documentary Collections - Outward D/P (Sight) or D/A (Term)
Letters of Credit - Export/local/stand-by

International payments

Inward Payments (remittances received)
Outward Payments (remittances sent)

General Charges and Other Trade Services

Trade Finance - International or Domestic
Foreign Currency Accounts
Forward Exchange Contracts

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Product Disclosure Statement

To the extent that this document contains information on fees and charges relating to the following NAB products:

  • NAB Foreign Currency Account - Onshore
  • National Online Corporate

this document forms part of the Product Disclosure Statement (PDS) for each of these products, along with:

  • the document titled 'Product Disclosure Statement including Terms and Conditions' for the relevant product; and
  • for NAB Foreign Currency Account, the document titled 'Indicator Rates - For Foreign Currency Account'; and
  • for National Online Corporate, the document titled 'National Online Corporate - Pricing'

These documents together make up the PDS for the relevant product. If you have not already received copies of each of these documents for your product, please let NAB know.

Any advice in this document has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice in this document, NAB recommends that you consider whether it is appropriate for your circumstances.

NAB recommends you consider the Product Disclosure Statement or other disclosure documents, available from NAB, before making any decisions regarding any of the products listed on the previous page. These products are issued by NAB.

Introduction

NAB prides itself on providing efficient, quality service. As part of these high standards, we aim to provide transparency in our charging. In other words, we like our business customers to know exactly what services are available to them and how much they should expect to pay for them.

This brochure covers the range of international business services available from NAB and the fees which may apply.

Fees listed in this brochure are current as at 1 January 2008 and may change at any time. To ensure you have the most up to date fees or if you would like any further information on fees and charges for international trade services, talk to your Business Banking Manager, or call 13 10 12, Monday to Friday, 8am to 8pm EST. Where government taxes and charges apply, these are passed on to customers. These taxes and charges are not included in this brochure and may change at any time. Overseas bank fees and their charges may also apply to some transactions for your account.

Goods and Services Tax (GST)

The GST clause applies to fees and charges that are not expressed as 'GST inclusive' in this brochure. However, in the event of a change to the GST rate, NAB reserves the right to apply the GST clause to all fees in this brochure.

GST Clause

If NAB is liable to pay goods and services or any similar tax (GST) on a supply made in connection with a service referred to in this brochure, then the Customer agrees to pay NAB (on demand) an additional amount equal to the consideration payable for the supply, multiplied by the prevailing GST rate.

Definition of GST

'GST' a goods and services tax or any similar tax imposed in Australia.

Definition of Banking Day

'Banking Day' a day other than a Saturday or Sunday, or a day gazetted as a public holiday in every state and territory of Australia.

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Imports

Documentary Collections - Inward D/P (Sight) or D/A (Term)
Documents received for collection 0.25% of collection amount (minimum $80) (maximum $750) plus handling and communication charges of $25
Other Services (inclusive of handling and communication charges):
Airway Bill Release - Goods consigned to NAB $95 per service
Refusal to accept/pay against documents as presented
Extension of term bills on instructions of remitting party
Where documents are received with instructions to be released free of payment and item is finalised in NAB's records
Previously accepted bills received for collection and payment
Endorsement or Avalisation Fee

Release of documents against Trust Receipt and NAB accepts responsibility for eventual payment		 1.5% p.a. of Bill of Exchange amount or Trust Receipt amount (minimum $80) from the date of Endorsement/ Avalisation/ Trust Receipt to date of payment

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Letters of Credit Outward (Establishment) - Import/local/stand-by

Issued/Established

$100 plus handling and communication charges of $15

$50 plus handling and communication charges of $15 (using National Online Corporate)

Other Services (inclusive of handling and communication charges):

Stand-by Letter of Credit

Fee available on application

Amendment

$90
$45 (using National Online Corporate)

Where any undrawn balance remaining at expiry is greater than the equivalent of AUD 5000 (converted at that time)

0.25% of amount remaining (minimum $80)

Cancellation of or any Decrease in credit amount

0.25% of the cancellation/decrease amount (minimum $80) plus amendment fee

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Letter of Credit Outward (Drawing) - Import/local/stand-by

Drawings - Documents received

0.375% of drawing amount (minimum $80) plus handling and communication charges of $25
0.325% of drawing amount (minimum $80) plus handling and communication charges of $25 (using National Online Corporate)

Other Services (inclusive of handling and communication charges):

Refusal to accept/pay against documents as presented

$95

Note: Fees and Charges normally charged to your Supplier

Acceptance of term drafts

1.5% p.a. (minimum $80)

Handling of Discrepancies

Reimbursement bank commission

USD65 or equivalent in other currency

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Exports

Documentary Collections - Outward D/P (Sight) or D/A (Term)

Despatched for collection

0.25% of collection amount (minimum $80) (maximum $600) plus handling and communication charges of $25 (GST inclusive)

Purchased for collection

0.25% of collection amount (minimum $80) (maximum $600) plus $50 Trade Finance Fee plus handling and communication charges of $25

Direct Collections (using National Online Corporate)

$60 (GST inclusive)

Direct Collections Purchased (using National Online Corporate)

$60 plus $50 Trade Finance Fee

Other Services (inclusive of handling and communication charges):

Collections presented with instructions to release against simple receipt or free of payment

$60 for each set of documents (GST inclusive)

Refusal to accept/pay against documents as presented

$95

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Letters of credit - Export/local/stand-by

Advising new credits or amendments
• Presented via NAB
• Not presented via NAB


Free
$100 (new credits)
$50 (amendments)

Drawings - Documents despatched

0.25% of drawing amount (minimum $80) (maximum $600) plus handling and communication charges of $25

Other Services (inclusive of handling and communication charges):

Without Recourse
Confirmation

Fees are available on application

Back-to-Back
Transferable Credits

Fees are available on application (a minimum assessment fee of $100 applies, but this will be waived if transaction proceeds)
 

Assignment of proceeds (per assignment)

$150 (clean)
$250 (documentary)

Document/Discrepancy Correction

$40 per set of documents

Acceptance of term drafts drawn on NAB (not applicable if drawing is done Without Recourse or Confirmation)

1.5% p.a. of draft amount (minimum $80) from date of acceptance to date of payment

Refusal to accept/pay against documents as presented

$95

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International Payments

Inward Payments (remittances received)

International drafts/cheques received

Sent for collection in Australian or overseas currency

  • for customers
  • for non-customers



$40 (GST inclusive)
$60 (GST inclusive)

Purchased in Australian Dollars, payable outside Australia

  • for customers
  • for non-customers



$40
$60

International drafts/cheques (inward)

Purchased in overseas currency. Includes payment to Foreign Currency Accounts. Includes drafts, cheques and dividend warrants etc. and negotiations under travellers letters of credit. For each purchase up to and including the equivalent of $10

  • for customers
  • for non-customers





Free
$20

For each purchase over the equivalent of $10

  • for customers
  • for non-customers



$10
$20

Dishonour

Where overseas bank charges more than one fee, there can be no rebate of those fees. Where multiple dishonours are received and all items are processed at the same time, only one charge is to be levied.

$30 plus collection/purchase charge

Clean Drafts
Drawn on the NAB in overseas currency

  • for customers
  • for non-customers




$10
$20

Drawn on the NAB in Australian dollars

  • for customers
  • for non-customers



Free
$10

Telegraphic Transfers Inward (received)

To be collected from beneficiary unless otherwise instructed by remitting bank

  • deposited to NAB account
  • deposited to non-NAB account



$6 - $121
$15 - $251

Exception: Where overseas currency item is remitted to another bank unconverted
Note: Currency equivalent to be deducted from remittance unless payment is otherwise arranged by beneficiary

$35 per transfer

Documentary Payment Orders and Telegraphic Transfers

Payable against documents other than simple receipt

0.2% of remittance amount (minimum $30)
(maximum $600)

1 Fee depends on currency and level of commission paid to overseas bank. Fee may include a commission of up to 50% of total fee. Eg. Fee of $12 for an International Transfer deposited to a NAB account may include a commission of up to $6.

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Outward Payments (remittances sent)

International drafts/cheques (outward)

Drawn on banks with currency/AUD arrangement with NAB

  • for customers
  • for non-customers



$15
$30

Drawn on banks without currency/AUD arrangement with NAB

  • for customers
  • for non-customers



$25
$30

Re-issue/refund

This charge covers the cost of placing a 'stop' where the original cheque has been lost/stolen

  • for customers
  • for non-customers





$30
$50
Repurchase
  • for customers
  • for non-customers



$20
$40

Telegraphic Transfers Outward (sent overseas)

Over the Counter (in Australian Dollars and foreign currency)

  • for customers


  • for non-customers




$30
$20 (using National Online Corporate)

$30

Pursuant to Facsimile Letter of Authority (in Australian Dollars and foreign currency)

  • for customers



$35

Cancellation, at customer's request

  • for customers
  • for non-customers



$20
$30

Documentary telegraphic transfers (Outward)
Where remittance provides for payment to be effected against provision of documents

0.2% of remittance amount (minimum $30) (maximum $600)

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General Charges and Other Trade Services

Trade Finance - International or Domestic

Finance of trade transactions

* Fee is to apply to any initial request and again on any subsequent requests for a rollover of finance covering:

  • documentary collections inward
  • telegraphic transfers
  • international cheques
  • invoices only

Note: Fee is not charged for refinance under Letters of Credit, except for rollovers.

$50 for each request

Trade Finance - Prepayments

$50 plus any break costs2

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Foreign Currency Accounts

Account Service Fee3,4

$40 (or currency equivalent4) per month

Intra account transfers

$30
$20 (using National Online Corporate)

Deposit/withdrawal of overseas currency notes

2% of deposit/withdrawal amount (minimum $30)

2 Break costs means any loss, cost, charge or expense incurred by NAB in connection with you making a payment otherwise than scheduled and the early repayment (in whole or part) of a fixed rate loan.

3 The Account Service Fee is applicable to a foreign currency account where the value balance falls below USD20,000 (or currency equivalent) or where the account is overdrawn in excess of your approved overdraft facility limit at any point during the calendar month. The fee is calculated on the actual daily value balances and debited to your account on the 15th day of the following month (where this is not a Banking Day, the fee will be charged on the preceding Banking Day). Upon account closure, any account service fees incurred but not collected will be charged on that day (for the preceding and current month).

4 Currency equivalent is calculated using a rate of exchange to be set by NAB at six monthly intervals on the 15th (where this is not a Banking Day, then the preceding Banking Day) of February and August to be applied from the first business day of March and September, respectively, for the following six months period.

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Forward Exchange Contracts

Establishment or Extension

Free

Cancellation

Free (plus any loss or gain determined by NAB)

Interbank Deliveries/ Currency Settlements

$35 plus handling and communication charges of $10
General enquiries or investigations, at a customer request, that require SWIFT messaging $25

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Preparation of this document was completed on 1 December 2007

For more information call 13 10 12
8am - 8pm EST, Monday to Friday or visit us at nab.com.au
Hearing impaired customers with telephone typewriters can contact us on 13 36 77

©2007 National Australia Bank Limited ABN 12 004 044 937 AFSL 230686 60230A1107

 
 
 
 
 

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