Our verdict

Manage your business spending with cards for employees, customisable spending limits and expense management tools.

NAB Purchasing and Corporate Cards is a customisable charge card facility designed for larger businesses that need more than 50 cards. This account gives you access to customisable features that range from individual card spending limits right through to a custom design for your cards. You’ll also get access to complimentary commercial card unauthorised transaction insurance that protects you against employees that use a card linked to the account for unauthorised transactions.

Another key benefit of this facility is the FlexiPurchase expense management software, which can help you track, analyse and manage spending across the entire business. It’s also designed to make it easier to manage GST and FBT requirements.

Pros

Low interest rate of 12.65% p.a. on purchases
Complimentary business liability insurance

Cons

Charges a 1% foreign transaction fee

NAB Purchasing and Corporate card accounts offer a range of features you can customise based on the needs of your business.

As well as being able to attach multiple cards to the account, you have the ability to manage the features of each one from a single dashboard. You also get access to NAB’s expense management software, FlexiPurchase.

Details

Product details

Product Name	NAB Purchasing and Corporate Card
Purchase rate p.a.	Purchase rate p.a. 12.65%
Interest-free period
Card type	Visa

Eligibility

Available to temporary residents	Yes - Conditions apply
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	Annual fee
Foreign currency conversion fee	Foreign currency conversion fee 1%

How to apply

You can apply for the NAB Purchasing and Corporate Card facility by filling out a short online enquiry form with basic personal and business details. This includes your name, email address and contact information, as well as the organisation's address, industry and number of employees.

A NAB Commercial Cards consultant will contact you shortly after you have submitted the online form to discuss your business banking needs further.

Card benefits

Unauthorised transaction insurance. The NAB Purchasing and Corporate Card offers complimentary insurance to protect the business if an employee makes an unauthorised transaction and charges it to the company card. The indemnity on this liability insurance is limited to $20,000 for each cardholder and up to $150,000 for the business per 12-month period.
Custom card design. You have the option of getting a custom design printed on the card, such as the logo for your business.

Facility management. With this account, you can order new cards, set individual transaction limits, manage temporary or permanent blocks on cards, update card details and view account information for individual cardholders. All of these features are available through the Commercial Card Self Service module, which you can access through NAB Connect.
Monitor business expenses. Improve transparency and speed up business expense reporting with the tools available through NAB's FlexiPurchase software. This expense management system also offers finance system integration, details for GST and FBT management and can be customised to fit with your company's travel and expense policies.
Mobile wallets. You can link your NAB Business credit card with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay to make contactless payments using your qualifying smartphone or wearable device at the checkout.

Rates & fees

Interest payable. NAB Purchasing and Corporate Cards have no interest applicable for valid purchases made using any of the account's cards. For cash advance transactions, the interest rate is charged at 12.65% p.a.
Minimum number of cards. This account is designed for businesses that want more than 50 cards attached to the facility.

Credit limits. The NAB Purchasing and Corporate Card is specifically designed to give the company full control over credit limits for each card. As such, the NAB Purchasing and Corporate Card doesn't have either minimum or maximum set credit limits to individual cardholders or to the facility. You get to specify the credit limit for both the overall facility and for each separate individual. You can also put a temporary or permanent block and introduce transaction limits on each card.

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Amy Finder

Editor

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July 01, 2013

My employer is forcing me to have a Corporate Purchasing Card with my name on the card, but linked to their account. They are refusing to provide me with a copy of the contract to check if there is joint liability. When I asked for a letter stating I was not liable for the card, I was told I had been provided with sufficient information and to just sign the application.

1.How do I find out if I can be held liable for payments?

2.How do I find out if the card limit will be added to my personal debt when making personal loan applications?

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Jacob Finder

July 01, 2013

Hi MJ. Thanks for your questions.

1) The NAB Purchasing and Corporate Card offers liability insurance which protects the account holder from unauthorised transactions by their employees – this lead me to think that the account holder is liable for card spending.

2) If you’re an additional or supplementary cardholder, this should not affect credit applications in your own name.

The best way to check on all this is to call the provider directly. And you’re within your rights to request all documentation before you sign anything.

I hope this helps.

Jacob.

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NAB Purchasing and Corporate Cards

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