NAB Bank the worst bank in Australia

I deposited money cash and cheque thru Austpost to my business account, the post office did everything right, next morning NAB has put a clearance on the cash, I cant access the cash until the cheque clears, tried getting help from branch and assistance from the call center No good, 7 calls were made over the course of the day. total time on the phone 5 hours all up , each call got me angrier and angrier , then they have the hide to say to you if you dont calm down we will hang up. My reply to NAB is if you fixed the problem in the first instant then no one would have been screaming at you.

Customers have a right to get angry and emotional, This bank spends millions trying to win new business , they could save twice as much if they just looked after the customers they had. This is not the first complaint to date with this bank I urge everyone to list their grievances on here until NAB comes out and apologies to all of us, Your organization lacks transparency and hiding behind a call center will not help you , the grievances against you will grow and grow until you treat your existing customers with respect.


Time to tell the NAB to where to shove their bank and move to another.


Welcome to the Community Darrenpb!

Can you clarify the issue, so I can understand. Is NAB refusing you access to the cash, until the cheque clears, or given you access to the cash, but not the cheque (until it clears)?

Eg if you deposited $500 cash and a $1,000 cheque, are they not allowing you access to the $500? Or did you want access to the full $1,500?


Welcome to the forum. Sorry to hear about your issue, but yours is not the worst that NAB have done.

You wrote

This seems to be contradictory. I am assuming that "put a clearance on the cash means that it became accessbile to you. Then you say that you couldn’t access the cash until the cheque cleared, which means that the cash wasn’t cleared. So did they clear the cash in the morning or not?


I think it is supposed to mean that the NAB has decided the funds associated with the cheque won’t be available until it has cleared.

This seem standard practice with banks unless there is some sort of special arrangements with a bank. I wonder if @Darrenpb had special arrangements which haven’t been honoured in this case?


the money was put into the account together with a cheque which was given clearance, the two items showed up as separate , however NAB went into the account and then applied clearance on cash money effectively freezing up all my account for 2 days, where it becomes the worst bank, is the attitude of the bank they had me on hold for 5 hours over the course of the day 7 Sep calls were made, even the ability to connect to the correct branch was a failure three wrong branches because staff cant speak English , this was a very bad example of customer service


The confusion amongst members who have replied might shed some light on how problems communicating with bank staff may arise. ‘Clearance’ is an unusual word in the context you are using.

Rather than discuss the cash being ‘applied with clearance’ in my experience it would be more common to state ‘a hold was put on the cash as well as the cheque’. The collection process for the cheque would normally be understood as ‘clearance’, and explicitly, ’ cheques are held for clearance’ not that 'clearance is applied.

That they applied a hold on a cash deposit is indeed a very special customer abusive action, but sometimes a choice of words can make an issue harder to resolve than it need be. A good analogy is the difference in terminology accountants use in double entry bookkeeping as compared to a consumer trying to balance their accounts. It can be mind bendingly difficult to grasp, yet has no bearing on one’s English language skills.


The better term would be withholding the availability to use the proceedings from the cashed cheque.

@Darrenpb, do you have a special arrangement with NAB to instantly clear cashed cheques?

Most banks when a cheque is deposited take 2-3 business days to process the cheque and make the funds available to be drawn upon. The cheque however, when deposited appears as a transaction in your account but won’t be added to the balance until the cheque is cleared. NAB, like other banks, explain this on their website:,cheque%20to%20your%20NAB%20account.

The approach NAB takes is standard across the financial and banking industry, unless one has special arrangements with the bank. Special arrangements may occur if a business has sufficient funds in their accounts which far exceed the value of any cheque presented. In such cases, a bank any immediately release say cheques up to the value of $1000 knowing that if the cheque is dishonoured, the businesses account has sufficient funds if the cheque amount is subsequently removed from the account balance.


Thank you @phb & @PhilT for clearing the terminoligy up.


Jeez, I had a ‘special arrangement’ - so called - with NAB for a decade. When I closed an account the teller asked the manager to have a word with me; “can we change your mind” etc. The response was shrug and a FO. Thanks NAB.