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NAB admits compensation could be ‘in the millions’ after Saturday’s outage

The boss of the National Australia Bank says the bank faces potentially millions of dollars in compensation following Saturday’s meltdown which left customers and businesses stranded.

EFTPOS was one of the services impacted for more than six hours.

NAB CEO Andrew Thorburn apologised to those significantly impacted.

“We don’t want people to be out of pocket, we need to listen to the customer where they’ve lost profit and we can see that is the case,” he told Neil Mitchell.

He admitted the compensation for business customers who suffered financial losses as a result could be significant.

“It could be millions of dollars, and if that is the case, that is what we will be paying,” he said.

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Photo: AAP