NAB Digital Banking 2 — Questions and Answers
Question 1: What is PayID primarily used for in NAB digital banking?
- Applying for a personal loan online
- Sending money using a phone number or email instead of BSB and account number (Correct answer)
- Locking your debit card remotely via the app
- Setting up automatic recurring bill payments
Correct answer: Sending money using a phone number or email instead of BSB and account number
PayID lets NAB customers send and receive money using an easy-to-remember identifier like a mobile number or email instead of a BSB and account number.
Question 2: Which digital payment service allows NAB customers to make near real-time payments 24 hours a day, 7 days a week?
- BPAY
- Direct Entry (direct debit)
- Osko (Correct answer)
- EFTPOS
Correct answer: Osko
Osko, powered by the New Payments Platform (NPP), enables near real-time payments between participating banks including NAB at any time of day.
Question 3: BPAY is primarily designed for NAB customers to:
- Transfer money internationally to overseas accounts
- Pay bills using a biller code and customer reference number (Correct answer)
- Apply for a new credit card online
- Register a PayID linked to their account
Correct answer: Pay bills using a biller code and customer reference number
BPAY allows NAB customers to pay bills electronically by entering the biller's code and their customer reference number through internet or mobile banking.
Question 4: What does NAB's PayTo service allow authorized third parties to do?
- Pay in foreign currencies at no charge
- Initiate pre-authorized payments directly from a customer's NAB account (Correct answer)
- Convert cryptocurrency balances to AUD
- Process QR code payments at retail stores
Correct answer: Initiate pre-authorized payments directly from a customer's NAB account
PayTo allows businesses and services to initiate real-time payments from a customer's bank account once the customer has set up and approved a PayTo agreement.
Question 5: When registering a PayID with NAB, which of the following CANNOT be used as an identifier?
- Mobile phone number
- Email address
- ABN (Australian Business Number)
- Passport number (Correct answer)
Correct answer: Passport number
NAB supports PayID registration using a mobile number, email address, or ABN, but a passport number is not a valid PayID identifier.
Question 6: A NAB customer wants to pay a friend back for dinner instantly at 11 PM on a Sunday. Which payment method best achieves this?
- Standard bank transfer via Direct Entry
- BPAY payment to the friend's biller code
- Osko payment to the friend's PayID (Correct answer)
- Branch-initiated wire transfer
Correct answer: Osko payment to the friend's PayID
Osko via PayID enables near real-time payment at any time, including nights and weekends, making it the fastest option for personal transfers.
Question 7: In the NAB app, daily transfer limits can be adjusted by:
- Only NAB branch staff upon written request
- The customer themselves within NAB's allowed maximum range (Correct answer)
- Calling the NAB fraud team exclusively
- Submitting a form and waiting 5–7 business days
Correct answer: The customer themselves within NAB's allowed maximum range
NAB allows customers to self-manage their daily transfer limits within defined maximums through the NAB app or internet banking settings.
NAB Digital Banking 2
What is PayID primarily used for in NAB digital banking?