National Australia Bank (NAB) has enhanced its cross-border payments by connecting incoming international transfers to Australia’s domestic real-time payment service.

Global financial institutions can now make Australian dollar payments on behalf of their customers in near real-time from different global time zones without traditional delays such as market cut-offs, weekends, and public holidays.

The solution enables faster processing times and quicker access to funds by Australians, regardless of where they bank.

This enhanced service is another step in making international payments as fast and simple as domestic payments in Australia.

Benefits from NAB’s enhanced cross-border payments solution include:

• Faster cross-border payments and access to funds
• Near real-time processing and confirmation
• Reduced wait times and reconciliation efforts
• Improved cash flow and operational efficiency
• Enhanced customer experience

NAB is delighted to launch this service with BNZ and are excited to work with our Financial Institution clients to support near real-time payments into Australia.

Our goal is simple – we want to be the best bank for customers and are committed to evolving Transaction Banking and the domestic and international payment experience.

This new service adds to our suite of innovations including managing liquidity with Liquidity+ and our Pay by Bank account-to-account payment service. Read how Plenti is using Pay by Bank to provide their customers with a faster, smarter and more convenient way to make payments.

Contact your Relationship Manager to find out how you can take full advantage of these enhanced Transaction Banking capabilities, including the new cross-border payments offering.