National Australia Bank earlier this month introduced a combined daily transfer limit of $2500 on internet banking for customers who have not registered for the bank's SMS-message authentication system. The limit and requirement for SMS authentication will not apply to payments made to recognised billers where money can't be withdrawn, such as telcos and utlilities. The bank will apply the limits to BPay payments made to credit cards.Any form of second factor authentication is rare around internet banking services in Australia.Customers log on as normal using their NAB identification number and password. When they make a payment outside of their own accounts, NAB sends the customer on one-use only password via SMS to the customer's mobile phone within seconds. The customer enters the password to complete the transaction.NAB has also for some timed offered a password lock feature for customers who use public computers to access their accounts. Prior to logging off from the banking site, the customer voluntarily locks their password. It can then not be used again, until it is reactivated via telephone banking.NAB has joined other banks, notably ANZ, in increasing the monitoring of internet transactions.