NAB has insisted customers won’t get kicked out of their accounts if they make ‘mean’ comments on social media. (Source: Getty)

Australians have been up in arms about a policy from one of the Big Four banks that doesn’t even exist. Multiple posts have appeared on social media claiming NAB customers could be frozen out of their accounts if they made “mean” comments online.

The fake claim even alleged that you could have your account closed down in certain circumstances. Aussies were furious and said it was a gross overreach of power.

However, a bank spokesperson told Yahoo Finance these incorrect allegations are linked to a policy that was brought in two years ago.

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Where did the NAB conspiracy come from?

The incorrect claims have been floating around since 2023, but they have recently been doing the rounds again on social media pages like Facebook and Threads.

It all started when NAB updated its terms and conditions to protect customers from financial abuse.

The new policy would mean you could have your account frozen or closed if you engaged in “unacceptable conduct”.

When you send money to someone, even if it’s just 1 cent, you can include a message in the description or reference section.

Perpetrators of financial abuse had been using this to send offensive or harmful messages to certain people and NAB’s change was aimed at stamping out this behaviour.

“We’re blocking around 15,000 abusive messages each month sent through payment channels and today’s move further puts financial abusers on notice that we will do everything we can to protect innocent people,” NAB’s head of customer vulnerability, Michael Chambers, said two years ago when the policy update was brought in.

Many other banks have similar policies to protect people from financial abuse.

Do you have a story? Email stew.perrie@yahooinc.com

This is an example of the misinformation that has been doing the rounds on social media. (Source: Facebook)

Aussies furious over fake claims

While the policy change had good intentions, people misconstrued how it could affect their accounts.

Many started posting on social media that you could have your money frozen purely for just saying something nasty anywhere on the internet.

“If the NAB are going to scrutinise your social media accounts it means they have too much time on their hands. I would close my account it they did that,” wrote one person.

“So NAB is now in charge or Facebook ??? If my bank does anything like that I’d just close my account,” added another.

There was even an article online promoting the conspiracy.