200,000 customers suffered from processing error of CBA's NetBank online system

November 26, 2008 - 12:50pm | Banks and internet banks | News |
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200,000 customers suffered from processing error of CBA's NetBank online system
Commonwealth bank of Australia (CBA) faced the problems with its NetBank online banking system and other payment channels that affected 200, 000 customers. The truth is that many transactions made through NetBank between Friday and Monday caused thousands of dollars losses to the customers. Many transactions were duplicated, some accounts were empty. Also it was observed that other report transfers or being completed or being credited with funds that aren't theirs. 

CBA announced that the cause of such financial losses was found. Also on NetBank website it was posted that this situation would be resolved overnight. However, it has just become worse. 
According to CBA officials they have a current issue that affects the balance on a number of customers' accounts where transactions were performed during 22-24 of November. 

They also mentioned that the problem leveraged transactions initiated online. And the reports of ATM, phone banking and EFTPOS transactions also suffered from that process.  

Even though the CBA authority apologized to customers that have experienced problems with NetBank online banking system because of processing error it didn't change the critical financial situation for good. But it offers immediate cash for those who need it. And for that purpose customers are recommended to visit one of CBA branches. It also insisted no fees or interest would be charged to customers as a result of the problem.





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