I recently switched banks back home in Australia to avoid increased fees and opened a new account with NAB. When I transferred some funds, they flagged it for potential fraud, but I called and got it sorted. A few weeks later, my sister sent me a small gift of $200, which triggered another fraud alert. Now, they’re saying I need to verify my identity at a branch in Australia, but I don’t live there anymore and don’t plan to visit soon.
They won’t let me verify over the phone, online, or even through a family member. My family went to a branch for me, but the staff just said, ‘not my problem.’ So now, my account’s frozen, and I can’t access my money unless I spend a couple of thousand dollars flying to Australia just to verify myself.
What options do you have? None, really. Since you opened the account online, you likely didn’t provide the usual Australian utility bills or other proof of address. They’re being strict because of anti-money laundering (AML) laws. It’s a big deal for banks to follow those, so they’re playing it safe. You could ask if they’ll transfer your balance back to your old account, but they’ll probably need ID verification first.
@Barbara
I’ve looked into the AML laws, and they don’t actually say anything about needing to go in person. They mention verifying ID through documents or electronic means, so I’m not sure why they’re being so rigid about this.