NAB launches Buy Now Pay Later card
NAB customers will soon be able to pay in 4 interest free instalments, anywhere that Visa is accepted, and without monthly, annual or late fees, using the new NAB Now Pay Later card.
26 Sep 2022 - 2 min read
Following the success of the StraightUp card, NAB's interest free credit card, NAB has announced the launch of NAB Now Pay Later, a very competitive interest free instalment card.
Similar to Afterpay, NAB Now Pay Later, will split purchase into four payments, however be used anywhere Visa is accepted and has no late payment fees. And unlike the NAB StraightUp card, NAB Now Pay Later offers the benefit of no monthly or annual fee.
With a limit of up to $1,000, NAB Now Pay Later is targeted at small purchases.
NAB Group Executive Personal Banking Rachel Slade said the bank’s research showed customers wanted to take control of their money.
“Hundreds of thousands of NAB customers are using instalment payment services so we’ve created NAB Now Pay Later to make this option simple and digital for them,” Ms Slade said.
“It’s also safer than the alternatives as these are already our customers. We know their banking and credit history and we’re assessing them based on our existing banking relationship.
“We know the way our customers are choosing to pay is changing and they’re demanding simple and easy to understand credit.
Other recently interest free and instalment product launches include CommBank's StepPay and Westpac's Flex card.
NAB Now Pay Later is currently only available to customers who pre-registered, however is expected to be available to all customers shortly.
Does NAB Now Pay Later have a monthly or annual fee?
Unlike other BNPL products in the market, NAB Now Pay Later offers the benefit of no monthly or annual fee.
Does NAB Now Pay Later charge a late payment fee?
NAB Now Pay Later offers the benefit of no late payment fees. This is different to other pay-in-four services, such as Afterpay.
Does NAB Now Pay Later charge international transaction fees?
Unlike most creidt cards, NAB Now Pay Later does not charge an international transaction fee when you make purchases overseas, both online or while travelling.
What credit limit does NAB Now Pay Later offer?
NAB Now Pay Later offers a limit of up to $1,000.
Where can I use NAB Now Pay Later?
NAB Now Pay Later can be used anywhere that Visa is accepted.