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$50 for Opening an NAB Classic Banking account

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$50 for Opening an NAB Classic Banking account
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c64 on 07/03/2011 - 14:30 files.ozbargain.com.au (3579 clicks)
Last edited 09/03/2011 - 14:54 by 1 other user

$50 bonus for opening an NAB Classic Banking account + iSaver account at an NAB retail kiosk and depositing $50 within the required time period. Note that an NAB retail kiosk is not an internet kiosk nor a regular NAB branch. See the comments for the previous NAB promotion for NAB retail kiosk locations http://www.ozbargain.com.au/node/35446.

The NAB Classic Banking account has no account keeping fees http://www.nab.com.au/wps/wcm/connect/nab/nab/home/personal_…. The iSaver account has an introductory interest rate of +1.1% for the first 4 months (current standard interest rate = 4.75%, so introductory rate = 4.75 + 1.1 = 5.85%).

To open an account you will need 100 points of ID (eg driver's license 70pts + Medicare card 30pts). Supplying your TFN when you sign up will also save you the hassle of ringing up later.

The promotion card I obtained from the retail kiosk at Carindale has the following on it:

To receive a $50 bonus into your new NAB Classic Banking account, remember to deposit at least $50 by 15 April into your NAB iSaver or Classic Banking account.

^This offer begins on 7 March 2011 and ends on 7 April 2011. The deposit of $50 must be into the Classic Banking or iSaver account by 15 April to be eligible for the $50 bonus. Only one credit of $50 per customer. NAB Classic Banking accounts will be credited $50 by 28 April 2011. This offer is only available for those Classic Banking and iSaver accounts opened at Kiosks. Existing NAB Classic Banking customers cannot receive the $50 credit. Any advice in this document has been prepared without taking into account your objectives, financial situation or needs. Please consider the terms and conditions for this product, which are available from National Australia Bank Limited.

Edit: The location of some NAB retail kiosks according to the Westfield web site http://westfield.com/uscentres/ourstores/banks-finance-1852.…. There are also some kiosks listed on http://www.nab.com.au/wps/wcm/connect/nab/nab/home/About_Us/…. The list might not be accurate - use at your own risk. Make sure you sign up at a retail kiosk (they will be advertising the promo) and not a branch or internet kiosk.

QLD
Chermside http://westfield.com.au/chermside/find/detail/store?retailer…
Carindale http://westfield.com.au/carindale/find/detail/store?retailer…
Garden City Kiosk
Ipswich Kiosk Ipswich Riverlink
Toowoomba Kiosk Toowoomba Grand Central S/c
Sunshine Plaza

ACT
Belconnen?
Woden http://westfield.com.au/woden/find/detail/store?retailer=422…

VIC
Altona Gate
Chadstone Shopping Centre Kiosk
Chirnside Park
Forrest Hill Kiosk
Fountain Gate http://westfield.com/fountaingate/ourstores/details/42968.ht…
Knox
The Glen Kiosk
Highpoint City Kiosk
Southland Westfield Kiosk
Top Ryde

NSW
Bondi Junction http://westfield.com.au/bondijunction/find/detail/store?reta…
Carlingford Court Kiosk
Chatswood http://westfield.com.au/chatswood/find/detail/store?retailer…
Charlestown Square
Forestway
Doncaster 03 9840 2697 http://westfield.com.au/doncaster/find/detail/store?retailer…
Kotara 02 4957 2251 http://westfield.com/kotara/ourstores/details/42863.html
Liverpool
Miranda http://westfield.com/miranda/ourstores/details/36584.html
Mt Druitt
Parramatta 02 9387 6297 http://westfield.com/parramatta/ourstores/details/40803.html

SA
Marion http://westfield.com/marion/ourstores/details/36939.html
Tea Tree Plaza Kiosk
West Lakes http://westfield.com/westlakes/ourstores/details/41011.html

WA
Innaloo 08 9204 4732 http://westfield.com.au/innaloo/find/detail/store?retailer=3…
Carousel 08 9358 0178 http://westfield.com.au/carousel/find/detail/store?retailer=…
Whitford City http://westfield.com/whitfordcity/ourstores/details/41692.ht…

Mod: Changed URL to scanned card, as requested by OP. Original link posted was here:

http://www.nab.com.au/wps/wcm/connect/nab/nab/home/personal_…

Financial Classic Banking Isaver

Related Stores

National Australia Bank Group (NAB)
National Australia Bank Group (NAB)

closed Comments

  • dkslim on 08/03/2011 - 15:52
    +2

    How sure are you that those who have applied for a NAB Classic account before can't get the $50?
    Is it worth trying, in case they overlook this?
    Pretty annoyed that they are punishing people who had a NAB account before.

    • SummerMan on 08/03/2011 - 15:59

      To increase a chance of getting the bonus, close existing account first.

    • c64 on 08/03/2011 - 16:58

      well it's explicitly stated in the t&cs. that clause wan't in the t&cs for the previous promo.

      • SummerMan on 08/03/2011 - 17:02

        Existing NAB Classic Banking customers cannot receive the $50 credit.

        When all your accounts are closed, you are not existing customer any more. Are u?

        • c64 on 08/03/2011 - 17:05
          +1

          true. if you do happen to get it then good for you. just be prepared for the possibility that you might not get the bonus.

          just ring one of the kiosks listed above and ask them. it might save you some effort.

  • theguyrules on 08/03/2011 - 17:22
    +1

    FYI guys I stopped in at Garden City and they have a kiosk there and the nice lady there opened an account for me in less than 15 minutes!
    Hooray for $50.

    • FOX on 09/03/2011 - 01:12

      nice~ thx for the info

  • 1968 on 08/03/2011 - 17:38

    can you apply over the phone then send in any required documents?

    • SummerMan on 08/03/2011 - 17:43

      nope. Read T's and C's. NAB wants to promote the use of its kiosk.

  • pspman on 08/03/2011 - 19:22

    Do you have to have a Tax File Number to apply for this?

    • SummerMan on 08/03/2011 - 19:24

      nope. Very interesting point. If TFN is not supplied, Bonus should be taxed at 46.5% (incl. medicare) + flood levy (if applicable)

      • tomsco on 08/03/2011 - 20:09

        Is the bonus actually taxable?

        • FOX on 09/03/2011 - 01:07
          +1

          this is a very interesting question~ i would like to know as well… any tax expert around?

        • c64 on 09/03/2011 - 01:20

          the bonus is income, so it is assessable. for me, the bonus appear as a miscellaneous credit transaction "$50 bonus Classic Banking Kiosk offer". the $50 isn't included in my accrued interest total, so you actually need to remember to include it in your tax assessment. i also suspect you won't get taxed at the top rate for the credit if you don't supply your tfn.

        • tomsco on 09/03/2011 - 17:47

          OK, just wondering as AFAIK, things like lottery winnings aren't considered as taxable income, so I figured as this was a prize of sort it may not be counted.

        • c64 on 09/03/2011 - 19:48

          i wouldn't call it a lottery or prize … it's not interest either. it's just 'other' income that you have earned.

    • c64 on 08/03/2011 - 19:25

      you don't have to supply a tfn. you can ring up later and supply it. if you don't supply a tfn then any interest will be taxed at the maximum rate and you will need to file a tax return to get it back.

  • jpol13 on 08/03/2011 - 20:36
    +5

    My husband and I opened up an account each today, took about 15 minutes. The NAB guy at the kiosk asked me how I had heard about the promotion as it had only started yesterday, and I said a "friend". A few mins later while I was watching him type our info in for the new accounts I noticed Google open and search results for "OzBargain" LMAO.

    • c64 on 08/03/2011 - 22:41
      +1

      they don't do a very good advertising it. a small promo card blue-tacked to the wall was the extent of their advertising.

  • Macgyver on 08/03/2011 - 22:37

    Why cant I find this $50 dollar thing on the Nab website?

  • hollycow on 08/03/2011 - 23:06

    anybody can confirm if existing customers can close and open and get the $50? can we just close the classic banking acc and leave the isaver account opened as i'm earning 6.5 or 6.25%?..i forget, interest currently which they are now giving 5.85% only.

  • bargainfreebiewhore on 08/03/2011 - 23:42

    Is it all pretty straight-forward? Anyone get grilled with questions?

    • c64 on 09/03/2011 - 00:20
      +2

      what colour card you want is about the hardest question they toss at you :)

      • Ashlea on 09/03/2011 - 00:22
        -1

        Is pink an option?

        • c64 on 09/03/2011 - 00:23

          yeah, i think they had a hot pink. i got a (dark) red one back in december which looks ok. i can't remember what the last colour choice was.

        • parcus on 10/03/2011 - 02:01

          Pink and black are the only colour options now.

          edit: oops, just realised it's below me already :/

    • Lenneth on 13/03/2011 - 00:05

      They didnt even ask us this question. I guess they knew we were only interested in the promo and not the account itself. :D

  • grizz_li on 09/03/2011 - 01:25

    Opened 1 today.
    Took around 10min.
    Plenty of other people lining up to open up their new accounts.
    Card color choices: Black or Pink.
    Afaik, the rep said you MUST open both the Classic and the iSaver to be eligible.

  • twinbag on 09/03/2011 - 18:20
    +1

    Thanks, me and the wife opened accounts today at the kiosk in Miranda. The rep opens classic and Isaver accounts. We provided id at the kiosk so no need to pop into a branch. took about 30 mins all up, and that included using the pc at the kiosk to complete the internet banking setup.

    I was told that the $50 can be deposited into either the classic or isaver account to get the bonus.

    I can confirm card colour choices were black or pink.

    • c64 on 09/03/2011 - 19:40
      +1

      also check out the $100 cba offer http://www.ozbargain.com.au/node/39898 now that you are a nab customer :)

      just make sure you don't need to close your nab account before doing any paperwork …

      • theguyrules on 10/03/2011 - 09:55

        Depends when this CBA deal ends….

      • twinbag on 11/03/2011 - 18:26

        thanks for the link. I'll be heading to CBA as soon as I get my NAB cards through.

  • Macgyver on 09/03/2011 - 21:04

    So did any one have to ask about the $50 or is just in your account when you finish signing up?
    I can't find info about this $50 deal other then the picture up the top.

    • grizz_li on 10/03/2011 - 11:30

      If you go to a kiosk, they'll have signs outside displaying the promotion.
      I signed up and all you really need is a driver's licence. You will need to deposit $50 into the account within the set time frame.

  • jacklynhydejr on 10/03/2011 - 13:48

    Has anyone tried to get this deal that was a PREVIOUS NAB customer, but not CURRENTLY with them?

  • bargainfreebiewhore on 10/03/2011 - 23:38

    Yesss getting my pink debit card in the mail soon.. thanks mattgal!

  • Reveen on 10/03/2011 - 23:43

    I hold an NAB credit card but no bank accounts of any sort. Just to triple-check am I eligible for this offer?

    • iNeedMoreMoney on 11/03/2011 - 12:00

      Not sure. I went to a kiosk yesterday. The rep said I cannot get the bonus because I already have a transaction account even though it is not a 'classic banking' nor 'isaver', and even though the conditions say existing 'NAB classic banking' customers cannot get this bonus, and not existing 'NAB' customers.

  • al_aajily on 11/03/2011 - 12:55

    Just opened an account in tea tree plaza (sa)
    it took longer than i thought!

  • rmk on 11/03/2011 - 21:14

    opened my accounts today … took approx 15 minutes including setting up the internet banking … Sweet!

  • vl3tbol on 14/03/2011 - 09:25

    can any1 comfirm in liverpool theres a NAB kiosk not internet kiosk?

  • ThePistonHead on 15/03/2011 - 09:57
    +1

    Called NAB, no branches in Tasmania are eligible for the $50, as there are no kiosks.

  • Melburnian on 15/03/2011 - 21:16

    Opened an account today at Highpoint, Victoria. Very quick and easy. The NAB kiosk is on level 3 next to the food court and escalators. Nearby stores include Target and Borders (since the store directory doesn't tell you how to find the kiosk).

  • c64 on 15/03/2011 - 21:21

    i noticed they are issuing paywave visa debit cards nowadays. i didn't get one back in december :(

    • Lenneth on 29/03/2011 - 23:45

      Lucky you. No really, you don't want it.

  • zenzen on 16/03/2011 - 09:00

    anyone know when Kiosk opens (available) every day in Bondi Junction?

  • emeraldone on 22/03/2011 - 12:24

    Has anyone received their $50 payment yet ?

    • rmk on 22/03/2011 - 21:16

      nope … T&C say by 28th April

  • j4ck on 24/03/2011 - 12:15

    Curious here…

    Can I deposit the $50 and then withdraw it straight away? Or does it have to stay in there until my bonus is paid?

  • scrone on 29/03/2011 - 14:20

    anyone know if there are kiosks in the melbourne cbd?

  • Lenneth on 29/03/2011 - 23:44

    Only 2 more weeks remain to deposit your money. Don't forget!!!!!!!!!

  • marquise on 05/04/2011 - 16:39

    I just applied, 2 days before the offer ends!

  • pspman on 18/04/2011 - 21:48

    anyone get there cash yet??

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