The National Australia Bank has agreed to repay small businesses across the nation that lost business due to the weekend’s nationwide outage of NAB EFTPOS terminals, Internet banking services and ATMs.

NAB Business GM Cindy Batchelor apologised to customers for the outage at a press conference, saying that the outage had been caused by a power issue in Melbourne.

She committed to repaying all losses that the businesses and  customers incurred as a result of the outage.

The bank has so far been unable or unwilling to confirm how many customers were affected, nor provide any estimates on the amount of compensation that it may face paying out.