Vell vs NAB: How Much Does NAB's International Transfer Really Cost?
Category: Comparisons
Tags: money transfer, NAB, National Australia Bank, send money overseas, AUD, international transfer
URL: vell.net/blog/send-money-to-philippines-with-nab
NAB is one of Australia's Big Four banks and a familiar name for millions of Australians. If you're sending money overseas — to family in the Philippines, for example — NAB offers international transfers with no transfer fee. Sounds straightforward.
But NAB's no-fee transfers come with a catch that most people miss until they check what actually arrived at the other end.
Quick Verdict
| Vell | NAB | |
|---|---|---|
| Exchange rate (AUD → PHP) | 43.995 | 42.74 |
| Transfer fee (AUD 1,000) | AUD 7.60 | None |
| PHP received on AUD 1,000 | ~43,995 PHP | ~42,740 PHP |
| Difference | +1,255 PHP more with Vell | — |
| Regulated in Australia | Yes (AUSTRAC) | Yes (APRA + AUSTRAC) |
| Travel eSIM | Yes | No |
| Best for | Transparent, value-driven transfers | Existing NAB customers who value convenience |
No Fee — But Look at the Rate
NAB charges no flat transfer fee for international payments. What they do charge is baked into the exchange rate — a rate that NAB sets, not the market.
On a AUD 1,000 → PHP transfer:
| Vell | NAB | |
|---|---|---|
| Exchange rate | 43.995 | 42.74 |
| PHP received | ~43,995 PHP | ~42,740 PHP |
| Effective cost | AUD 7.60 fee, competitive rate | No fee, but ~1,255 PHP less delivered |
NAB's rate margin on this transfer works out to roughly AUD 29–30 in lost value — more than three times Vell's visible fee of AUD 7.60. The money doesn't disappear. It just doesn't reach your recipient.
Understanding the Hidden Cost
Every bank sets its own retail exchange rate. The gap between that rate and the real mid-market rate (what you see on Google) is the bank's margin. NAB doesn't disclose this margin as a "fee" — but it functions exactly like one.
With Vell, the AUD 7.60 fee is shown before you confirm the transfer. There's no additional margin embedded in the rate. What you see is what gets sent.
Transfer Speed
| Vell | NAB | |
|---|---|---|
| Typical transfer time | Minutes to hours | 1–5 business days |
| 24/7 availability | Yes | Business hours dependent |
| Real-time tracking | Yes | Limited |
NAB international transfers go through the SWIFT network. Depending on the destination, correspondent banks may be involved — and they can deduct their own fees from the transfer amount before it reaches your recipient, further reducing what arrives.
Features Comparison
| Vell | NAB | |
|---|---|---|
| Mobile app | iOS + Android | iOS + Android (NAB app) |
| Travel eSIM | Yes | No |
| Business transfers | Yes | Yes |
| Rate transparency | Full — shown before you send | Rate set by NAB at time of transfer |
| Correspondent bank fees | None | Possible (deducted at recipient end) |
| Corridors | 28+ currencies, 11+ regions | Multiple currencies |
Who Should Use NAB?
NAB makes sense if you:
- Rarely send money overseas and want to use your existing bank account
- Are transferring a small amount where the rate difference won't add up to much
- Want everything consolidated in one banking relationship
Who Should Use Vell?
Vell is the smarter choice if you:
- Send money to the Philippines, India, Pakistan, or other supported corridors on a regular basis
- Want to see your full cost — fee and rate — before you confirm
- Travel and want your eSIM sorted in the same app as your transfers
- Want more of your money to actually reach the person you're sending it to
The Bottom Line
NAB's no-fee international transfer isn't really free — the cost is in the exchange rate. On a AUD 1,000 → PHP transfer, NAB delivers ~1,255 PHP less than Vell to your recipient. That's roughly AUD 29–30 in hidden cost, compared to Vell's transparent AUD 7.60 fee.
You pay more with NAB, you just don't see it happen.
See the difference for yourself — try Vell free → get started.
Use our currency converter to check live AUD to PHP exchange rates.
Rates quoted are based on a live AUD 1,000 → PHP transfer comparison as of 22 May 2026. Exchange rates fluctuate — always check current rates before sending.