National Australia Bank
In a bid to stamp out financial abuse NAB has today announced an important update to its terms and conditions that will allow bankers to ‘cut-off’ customers who’ve been identified as committing financial abuse.
The new reference to ‘unacceptable account conduct’ officially puts customers on notice that the bank can suspend, cancel or deny individuals access to their savings and transaction accounts if the bank identifies them as engaging in financial abuse.
NAB’s Head of Customer Vulnerability, Michael Chambers, said financial abuse was a common tactic used by perpetrators to control individuals.
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