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A Multiple funds transfer is an ideal way to pay your payroll or pay money into several accounts, all at once. For example, you can debit your account $100 and pay $50 to a NAB account, $30 to an ANZ account and $20 to a Westpac account, all in the one transaction. This function saves you time and money as you can make up to 100 payments from the one account at the same time. You can also save the Multiple funds transfer payment details as a Payment File template that can be used again.
You can:
- import a file from an office payroll package (e.g. Quicken®, MYOB®) into NAB Internet Banking to pay your employee accounts. Note: The file must be in a valid Direct Entry (DE) format.
- import a previously saved Payment File template that was originally created using Internet Banking.
- make a transfer to a maximum of 100 employees or suppliers at the one time.
- transfer directly to friends', relatives' or payees' accounts at any financial institution in Australia.
- transfer money to multiple linked NAB accounts to cover cheques or payments that need to be made.
- future date and/or set up periodic transfers up to 18 months in advance.
Note:
- You cannot transfer money to or from any Credit Card accounts when you use Multiple funds transfer.
- You should always check with the payee before transferring money to their account. Some payees only accept payments in specific ways, such as cheques.
- Currently no bank fees apply to transfers processed through Business Accounts using the Internet Banking Multiple funds transfer service. A service fee of 20 cents per credit item will be introduced and apply to transfers from May 2004. Customers will be advised of this fee prior to implementation. Fees continue to apply to Multiple funds transfers processed through Personal Accounts in accordance with the current fee structure.
related topics
Transfering funds main
Funds transfer (single)
Frequently Asked Questions (closes demonstration window)
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