Only for NAB customers
Concessional rate for fund transfer, Only 1/3rd of normal international remittance cost
Transfer using Internet Banking
Good Exchange rates as conversion is done by Federal Bank.
Remittance for FCNR in AUD is possible
Remittances credited to beneficiary account on next working day.
How to register for availing the benefit of concessional rate?
Customers can register their NAB account by sending the following information to our email ID firstname.lastname@example.org
1. Full Name of Customer
2. BSB Number (Bank State Branch Number/ Sort Code)
3. National Australia Bank (NAB) Account Number
4. NAB Customer Number (ID Number)
On receipt of customer's NAB account details, register that account with NAB for international remittances from such account.
When this customer makes an international payment through Internet Banking to Federal Bank's account with NAB in Australian Dollars, NAB charges the discounted fee of AUD 7 only.
How to make remittance after registration - A Step by Step Guide for transferring funds through NAB
Customer Logs in to his NAB Internet Banking Account.
After Login select Fund Transfer Option > New International Transfer
Under "Beneficiary's bank location" the customer should choose "India"
When "India" is chosen, the box next to "Which currency?" defaults to "INR – Indian Rupees". Here please change it as "AUD – Australian Dollars"
In the section "Beneficiary's bank details" customer needs to enter the beneficiary's account number with Federal Bank in the account number box and Federal Bank SWIFT BIC (FDRLINBBIBD) in the Bank SWIFT/BIC code box.
In the section "Beneficiary's details" customer can put the full name and address of the ultimate beneficiary.
If customer needs to add a specific message to Federal bank relating to credit of Fund he can input the details in "Message to beneficiary" which is optional. If funds are remitted for depositing in FCNR in AUD itself. Please mention "For FCNR Deposit" here.
Customer can also visit NAB website which will guide him to know the Fund Transfer process through a video.