Financial difficulty can happen for many reasons, from unexpected job loss or illness to changes in your personal circumstances. If you are finding it hard to meet your loan or credit card repayments, it is important to contact the bank as soon as possible. Reaching out early allows the bank to understand your situation and work with you to explore available support options before your account falls into arrears.
The NAB Care team is specifically dedicated to assisting customers experiencing financial hardship. They work on a case-by-case basis to assess your individual situation and determine what type of help may be appropriate. While the process requires you to share details about your financial health, this information helps the bank tailor a solution that is realistic for your current circumstances.
| Category | Details |
|---|---|
| Methods | NAB Care phone line, online financial assistance form |
| Processing Time | Variable; typically reviewed within a few business days |
| Eligibility | Any NAB customer unable to meet financial commitments |
| Key Requirements | Summary of income/expenses, clear explanation of hardship |
Step-by-Step Guide to Requesting Assistance
- Contact the NAB Care team as soon as you anticipate a missed payment; do not wait until the payment is overdue.
- Prepare a simple budget summary, including your current monthly income and essential living expenses, so you can clearly explain what you can afford to pay.
- Call 1800 701 599 to speak with a representative, or submit a request for financial assistance via the secure online form in your Internet Banking or mobile app.
- Discuss your circumstances openly with the representative; they will explain the options available, which may include temporary payment arrangements, interest-only periods, or payment breaks.
- Review any proposed payment plan carefully to ensure it is sustainable for your situation.
- Formalize the arrangement as instructed by the bank to ensure your account status is updated.
Troubleshooting Common Access Issues
1. MFA / Login Issues
- Cause: You cannot log in to submit the online form because your multi-factor authentication (MFA) SMS is not arriving.
- Simple Fix: If you cannot access the online portal, do not let this delay your request. Call the NAB Care phone line directly.
- Fallback Action: Speak to a representative via phone; they can capture your hardship request regardless of your online login status.
2. Browser or App Errors
- Cause: The online hardship form fails to load or submit, often due to browser cache issues or temporary site maintenance.
- Simple Fix: Try accessing the form using a private (incognito) window or a different web browser.
- Fallback Action: Use the contact phone number; talking to a human is often more effective than navigating a form when you are experiencing stress.
3. Locked Account / ID / Access Issues
- Cause: You are locked out of digital banking, preventing you from seeing your current balance or payment history.
- Simple Fix: Use the 'Forgot Password' tool, but if your ID is specifically blocked, do not attempt to force entry.
- Fallback Action: Call the bank's general support or the NAB Care line. A representative can assist with your hardship request even if your general banking portal access is temporarily limited.
Pro-Tip: Contacting the bank before you miss a payment is the single most effective way to protect your credit file and maintain a positive relationship with your lender. Most banks prefer to help you restructure before a default occurs, as it shows you are taking responsibility and managing your commitments proactively.
Frequently Asked Questions
Q: Will requesting hardship assistance negatively impact my credit score?
This depends on the specific arrangement you reach and how your account status is reported. In many cases, if you approach the bank proactively and agree to a formal hardship arrangement, it is significantly better for your credit history than defaulting on your loan. The bank’s priority is to help you maintain your repayments. Ask the representative specifically how your agreement will be recorded on your credit file before you finalize the plan.
Q: I feel overwhelmed and don't know what to say to the bank. What can I do?
It is completely normal to feel stressed when talking about money. You are not required to do this alone. You can nominate a financial counsellor, a family member, or a friend to speak to the bank on your behalf by providing a 'Letter of Authority' to NAB. Financial counsellors are free, independent, and provide non-judgmental support to help you organize your finances before you speak with the bank. Call the National Debt Helpline on 1800 007 007 to find a free counsellor in your area.
