As the country’s biggest business bank [1] National Australia Bank (NAB), has been leveraging its longstanding legacy and a deeply established network to work with businesses of all sizes across the country, to help make running, managing and growing their business easier and simpler with personalised solutions.
To help reduce the complexities and administrative burden traditionally associated with property sales and rental transactions, NAB introduced NAB Portal Pay, a new platform designed to simplify property payments for real estate agents, renters and buyers. Featuring real-time payments [2], state-of-the-art security, and integrations with major real estate software, NAB’s innovative new solution aims to revolutionise payments in real estate.
Recognising NAB’s solution as a first-mover in launching such a platform among the big four banks in Australia, The Digital Banker presented it with the ‘Best SME Payments Innovation’ award at the Global SME Banking Innovation Awards 2025.
Enabling Efficiency
NAB Portal Pay is designed to facilitate the collection of property sale deposits online in real-time2 plus enable efficient rent payment and reconciliations, thus offering a speedier and more efficient customer experience compared to other platforms (which can require up to three business days for payments to process) while also reducing reliance on cheques. The bank has utilised innovative PayTo [3] technology, which lets the customer request and receive payments at the time of a sale and receive instant confirmation, with no need for Statutory Trust Account (STA) details.
Customers can manage their payments efficiently through the platform and can download an all-in-one statement file with individual trust account transactions, which can be uploaded straight to their software provider. [4] Integration with real estate software such as Property Tree allows automatic reconciliation of rental payments, which can save property managers up to 30 minutes a day. Additionally, customers can create and assign unique payer reference numbers to each tenant for simpler reconciliation.
The platform also contains a secure, easy-to-use tenant portal [5] that lets tenants:
- choose how they pay rent;
- review their payment history; and
- schedule payments to reduce the possibility of missed due dates.
Through such seamless features, the portal addresses longstanding inefficiencies in payments within the real estate sector. By integrating different payment methods and reconciliation tools, the platform aims to simplify what has typically been a very cumbersome and administratively heavy burden for agents and buyers.
Looking ahead
NAB plans to introduce new features over the coming years to further boost the platform. This includes integrations with additional major real estate software providers to facilitate easier, faster and more secure transfers and reconciliations of rent and sale deposits., as well as expanding NAB Portal Pay to other industries. Another feature in the works is the ability to accept additional payment methods for tenants. Finally, as part of NAB’s customer focus, NAB will continue to proactively seek reviews from customers and product owners to help drive improvements to the platform and ensure the platform experience remains seamless.
NAB Portal Pay also marks a significant milestone towards advancing the bank’s digital strategy, offering a more integrated and personalised experience for its business customers.
Important Information
1 Australia’s Biggest Business Bank based upon the combined value of business deposits and business lending according to Monthly Banking Statistics data (ex. non-financial corporations and government) published by the Australian Prudential Regulation Authority as at April 2025.
2 Real-time payments are only available where the payer’s bank supports real-time payments and does not impose any holds or delays in respect to the payment (e.g. such as where some banks delay a payment for up to 24 hours when a payment is being made to a new payee for the first time). Some financial institutions may also impose payment limits.
3 PayID® and PayTo® are registered trademarks of NPP Australia Limited.
4 Speak with a Transactional Banking Specialist for a current list of eligible software providers.
5 Use of the Tenant Portal is subject to the NAB Portal Pay Terms and Conditions – Payers effective 1 May 2024.
NAB Portal Pay is subject to the NAB Portal Pay Terms and Conditions and only works with payments made into NAB Statutory Trust Accounts. Any advice in this document has been prepared without considering your objectives, financial situation or needs. Before acting on any advice, consider whether it is appropriate for your circumstances and view the Terms and Conditions available online or by contacting us. NAB Portal Pay is issued by NAB unless stated otherwise.
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