Chris Zappone April 15, 2011
What's going on with Australia's banks?
The NAB has been hit with technical problems yet again in what's becoming an all too common story.
Update National Australia Bank won’t say when the payment troubles afflicting its customers and clients at other banks will be resolved, hours after the problems first surfaced.
Customers of NAB and a string of other banks have said they did not receive their usual pay transfers this morning. ANZ Bank, CommBank, and Westpac customers whose employers bank with NAB have also reported problems.
The issue for NAB comes just months after an extensive failure prevented thousands of people from receiving their funds in late 2010.
A screengrab from NAB's Twitter page (http://twitter.com/#!/NAB), with apology after apology to angry customers who've vented their anger on the social networking site.
As of 11.30am, eastern Australian time, the bank was apologising to customers via Twitter, while a note on NAB’s internet banking site, said: "NAB is currently experiencing some delays, some transactions may not be appearing in customer accounts and some account balances may not be up to date."
The bank would continue to update the public as more information becomes available, it said.
"We are working to rectify the situation and apologise for any inconvenience this may cause," the bank said.
One commentator to this website, meanwhile, said a resolution may be pending: ''Good news, I just heard from the Treasurer of our company that after speaking with NAB they have confirmed that they should have funds cleared by 4pm today......fingers crossed!''
NAB's rivals quickly moved to address their customer concerns in light of NAB's ongoing issue.
CommBank, ANZ and Westpac have pledged to refund late payment fees charged to their customers' accounts as a result of the NAB system issue.
One Hobart-based customer said he didn’t receive $8000 worth of payments, the first part of which was due early Thursday.
“I suspect (the problems) started yesterday morning as payroll and deposits have failed Thursday and Friday,” said NAB customer Dylan Parrant.
Sydney-based St George Bank customer Yasmin Border, meanwhile, said she had not received her pay because her employer banked with NAB.
"It's pretty annoying that my rent is going to be late because of NAB who I am purposely not with because of all the issues that they have," she said.
Customers at Citi, HSBC, St George and Macquarie Bank have also been hit by the NAB-related payment glitch.
An employee of a Melbourne-based payroll company said $400,000 worth of payments were not made this morning because of the problems.
He said the company was advised by NAB that account totals on its business banking site, NAB Connect, should not be taken as "100 per cent correct".
"We processed it from our end; we've only found out this morning that NAB systems went down and that it didn't go through to people who were expected to get those payments," he said.
The glitch has also hit NAB-owned UBank, which posted on Twitter that "some account balances may not be up to date".
Payments to customers of NAB and other banks were thrown into chaos at the end of last year after a failure of the bank's computer payment system. The problem forced NAB to take out newspaper advertisements to apologise and open branches through the weekend to accommodate customers.
Before posting the update on the bank’s current payment troubles, NAB had warned customers of a delay on payments and bills made through the Easter weekend on the same internet banking site.
The bank said any fund transfers or bill payments made after Thursday, April 21, won't be processed until Wednesday, April 27.
The bank has warned customers needing funds in accounts before Good Friday, April 22, to transfer their funds before Wednesday, April 20.
NAB has blamed the "successive public holidays" of Easter running up against Anzac Day for the delays.
NAB's latest woes come as Australia's major banks grapple with multi-year billion-dollar projects aimed at improving their ageing computer infrastructure.