NAB Bank Fees Class Action update


Today the Federal Court granted the order to open the class, requested by the applicants and National Australia Bank.

This is an important step in moving towards a settlement. Any customers wishing to join the class are encouraged to contact Financial Redress to register as a participant.

The class will be open for 10 weeks.


NAB today confirmed that on Friday, November 7, 2014, the applicants in the NAB Bank Fees Class Action lodged in the Federal Court an application seeking the Court’s approval
to open and close the class.

This is a first but significant step towards reaching a potential settlement.

NAB CEO Andrew Thorburn said: “NAB is doing this because we believe this is the right thing to do for our customers and our business.

“We know that banking customers want to be treated fairly, which is why five years ago NAB made the decision to remove many of the fees and charges that annoy customers the most.

“NAB is the only major bank to completely get rid of dishonour fees and periodical nonpayment fees.

“NAB is the only major bank to have a fully featured personal transaction account available to all our customers with no monthly account keeping fees.

“NAB was the first and remains the only bank to abolish overlimit fees on credit cards. Since 2010, NAB’s credit card late payment fee has been $5 – up to $15 less than our major competitors.”

If the class is opened, customers wanting to join the NAB Bank Fees Class Action and participate in any potential settlement will need to register.

The registration process would be managed by Financial Redress, a subsidiary of the company funding the Bank Fees Class Actions against all of the major Australian banks.

Any announcements about this process will be made by IMF and the applicants’ solicitors Maurice Blackburn.



Related Articles

  • Half Year Results

Video: NAB CEO Andrew Irvine discusses 2024 Half Year Result

In this video interview NAB CEO Andrew Irvine reflects on NAB’s 2024 Half Year Results, economic conditions and the bank’s strategic direction.

  • 02.05.2024
  • Time to read 1 min read
  • Half Year Results

NAB announces 2024 Half Year Results

NAB has today released its 2024 Half Year Results to the market.

  • 02.05.2024
  • Time to read 1 min read
  • Executive Team

NAB Executive Leadership Team changes

National Australia Bank Group Chief Executive Officer Andrew Irvine has announced changes to NAB’s Executive Leadership Team.

  • 10.04.2024
  • Time to read 2 min read

Quick links

National Australia Bank — NAB

Sometimes When The Unexpected Happens, We Realise What We Truly Value. Whether A Home, Farm, Business Or Your Passion, NAB Is Here To Support You.

Business Research and Insights

For more business news and analysis, visit NAB’s Business Research and Insights.