A couple of weeks ago there was an unauthorized transaction on my credit card.
Good: NAB tried to call (that I missed) and then sent me a text message.
Bad: It was hard to verify on the NAB site that ‘NAB Fraud Assist’ and the number they provided was legitimate. Instead ‘NAB Defense’ is the fraud protection they promote, and I did eventually verify the phone number.
Good: The phone call to them was brief and to the point, they told me what would happen (card cancelled and new one issued, also paperwork to sign and return about the unauthorised transaction)
Bad: A scheduled transaction failed as it was on the old card. It was only on a hunch that I decided to check, the notification is buried within the internet banking. I would have expected an email or SMS, you know, like they did a few days earlier.
Annoying: Having to update direct debits to have the new card details. Though would have had to do this anyway when the old card expired in October.
Confusing: The “NAB Financial Crime – Assessment Request” that I had to sign and return having different date and amount than showed online for the transaction to dispute. Phoned up, date was difference between date of transaction and date processed, amount was due to exchange rates.
Annoying: Having to fax or post the assessment request back to them. After figuring out how to use the email to fax system at work I got got a confirmation that something identified as ‘National Aust Bank 2′ received it. Do not know if the right group got it…
Annoying: Can take in excess of 60 days to resolve the dispute and have the transaction reversed. The merchant has meanwhile credited back the amount, but I’m currently out $7 due to exchange rates and the $27 international transaction fee is still there. When it is eventually resolved all related parts will be reversed.
Bad: Being charged an annual fee on the new card because it wasn’t linked to my loan package. This was despite the letter than came with the card saying “NAB will arrange transfer of existing linked accounts, NAB Telephone Banking and NAB Internet Banking details to you new card.”
Bad: Response to my online query about the annual fee being that it was due to the card not being linked, to link it I would have to phone.
Curious: Hearing the person I spoke to on the phone get frustrated with the system as it didn’t sound easy to link the card back to my loan package.
Annoying: Having to remember to check that the annual fee has been removed by the time the next statement is issued.
Ok: Annual fee did get credited back.
Disappointing: Zero communication about the resolution about the dispute, I only know it has been resolved due to seeing in my statement the reversal of the $27 international transaction fee and a $7 miscellaneous credit to cover the difference I mentioned above.
Overall I am glad that this has been resolved, but there were various stages of the process that could do with a lot of improvement.