NAB Paying Delays?

[Ralliart]

hey guys, has anyone missing money from their Bank account this morning, i know i am , i get paid on thursday , and no money whatsever this morning/today , apparently theIR computer mainframe crashed and screwed everyone's wage up,

Originally Posted by "The Age"
National Australia Bank customers may have been hit by a technical glitch that has affected transactions including pay and other deposits.

Millions of people may have been affected by the processing error, which has resulted in delays to customers using NAB ATMs, EFTPOS and other electronic banking systems. Calls from frustrated customers then lit up the bank’s customer service lines, creating more delays.

Centrelink confirmed this morning that its customers were among those affected.
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The glitch was likely to be nationwide and on all account types, NAB said. However, the bank would not say how many of its 11.5 million customers were hit by the glitch.

Are you affected? Contact [email

czappone@fairfax.com.au[/email]

"This will take some time and, while we are hopeful all delayed payments will be able to be processed by later today, we will provide further updates as things progress," said a spokeswoman for the bank.

The bank would not elaborate on the cause of the outage other than to blame "technical issues''.

BusinessDay understands normal overnight processing procedures were delayed, forcing the bank's system to process the payments today.

The error exposes weakness in NAB's mainframe computer and the precautions taken around the smooth operations of its account data, said a bank employee who wished to remain anonymous.

The problem, which involved the bank’s mainframe computer system, affects retail, wholesale and business accounts – and the huge overnight settlements NAB conducts with other large institutions, including the Reserve Bank.

“We’re talking about hundreds of million of dollars we need to pay out and receive from other parties on the wholesale level, which if those contractual obligations are not met can potentially create a systemic risk,” the employee said.

“We’re talking about potential issues with meeting our obligations with the RBA,” he said.

Banks maintain an account with the RBA to borrowed short-term funds, which is settled at the end of every day.

But NAB said the issue arose from a corrupted file and denied it posed any greater risk for the bank.

“We’ve got a particular problem which we have identified and are in the process of addressing,” said a spokesman for the bank. “Any suggestion there are broader issues is incorrect.”

All interbank exchanges and values are correct, NAB said.

“We’re making progress in processing the payments,” said the spokesman. “And will provide further updates.”

NAB apologised to consumers for the inconvenience and confusion but warned them to expect longer wait times. It was not available for comment on the issues around systemic risk.

“These issues have resulted in a significant increase in traffic to NAB customer call centres which has also caused some delays,” the bank said.

Centrelink confirmed that it had sent benefit payments to the Reserve Bank on schedule for distribution through commercial banks overnight but clients banking with NAB had not received payments.

“We've been in contact with the NAB and they have confirmed the payments issue is at their end,” said a spokeswoman for Centrelink.

“The bank has told us they are working to resolve the problem as quickly as possible.”

Customers expressed frustration for the slow response of the bank.

“I’m very angry as I have quite a few bills due to be paid,” said Sydney-based Soroush Taeidi.

“They are so quick to take your money away from you but they will take their time when issue like this happens.”

“Funny thing is they will charge us interest if they don’t get their money on time, what about this? Are they going to pay us interest?”

One Centerlink customer said he couldn’t pay his NAB Visa account because his pension had not been paid.

“Who receives the interest on my pension whilst it is in limbo?” the client asked.

“When one multiplies my pension by thousands (of other pensions) the interest is considerable.”]

Originally Posted by News.com.au

NATIONAL Australia Bank says it is working to fix technology issues which delayed the processing of some customer payments and transactions overnight.

The bank says it's working to rectify the issues and is hopeful all delayed payments will be processed today.

Customers may also experience delays for NAB EFTPOS (electronic funds transfer at point of sale), ATM (automatic teller machines) and other electronic banking facilities, NAB said in a statement today.

The technology issues had caused a spike in traffic to NAB customer call centres which had also caused some delays, NAB said.

NAB spokeswoman Meaghan Telford said NAB staff were progressively processing payments that were due to be processed at 4am (AEDT) today.

Sources told AAP the technology issues have also affected NAB's payroll system, with some NAB staff having their pay delayed.


Read more: http://www.news.com.au/business/brea...#ixzz16GgUqIBc

really hope they fix it and start paying our money, been on the phone 2 times about they said it should be in your account by mid late afternoon and still not

[DJR David]

yep, still waiting here!!!!

[Iggypoppin']

My brothers waiting....but he doesn't care his bank account has about 2k in it. Still it's not nice waiting on pay packets.

[GS608]

Lucky i don't have anything going out tonight...I'll be mighty ****ed off if it isn't in for the weekend!!!

[Ralliart]

Originally Posted by XR-CHIEF

Lucky i don't have anything going out tonight...I'll be mighty ****ed off if it isn't in for the weekend!!!

just hope it doesn't drag on for 2 days straight

[terra australis]

If funds are not in your account by friday go to a branch as they should be able to release some/part money. When I worked in a bank we just needed to confirm employment (quick phone call to your employer) do a quick history on your account and the manager would confirm the amount to be released. Of course this was under instructions of "The Bank". Also if your home loan payments have not come out because of this error they should also do an interest adjustment.

[DJR-351]

Still going on....

Should have had my wages in my account on Thursday, but due to the "National Bank's ongoing technical problems" that didn’t happen.
While I can manage until it’s sorted, some are not that fortunate, and with no timeframe for when it will be sorted (according to the below story) some people may be doing it hard....

EDIT: My wages are paid from HSBC into ANZ...

http://bigpondnews.com/articles/TopS...AB_544413.html

All major banks affected by NAB
Saturday, November 27, 2010 » 05:41am

All major banks in Australia say they've been affected by National Australia Bank's ongoing technical problems, which could continue until next week.

Fairfax newspapers say Commonwealth Bank, ANZ Bank, Westpac, HSBC and Citi have all confirmed that some customer transactions have been affected by the errors in the NAB's data processing that occurred on Wednesday morning and have still not been resolved.

HSBC said the transactions to other banks, payroll deposits and direct debits have been affected.

It said NAB clears payments for HSBC in Australia, as well as other banks.

Fairfax says many Australians face the weekend without the ability to access their money.

One industry veteran, who was briefed on NABs difficulties, told Fairfax the data likely can't be restored to its original data position, making recovery of the information more difficult. The current problem is known in the industry as a Sev1, or severity 1, problem, which means that it has a high customer impact.

[04redxr8]

Had the same prob only reversed. I got a call on Thursday from one of workers saying He hadn't been payed. He has it now.

[Bucknaked]

Pity they arn't as slow at raising rates as they are at fixing these glitches.

I was one of the affected. I only had a 24 hour delay.

[DJR-351]

They still have not sorted those who's payment's come from overseas and use NAB to clear into there Aussie bank account....

No one who works for the same company as me has been paid yet, and by the sound of it it wont be sorted until midweek....

[Pedro]

Maybe there's a lot more to this "glitch" than the NAB's letting on.

Wouldn't be the first bank that's been hacked, but they'd never admit to it.

[TheInterceptor]

Probobly using our money for somthing they arent telling us...

[vztrt]

Originally Posted by TheInterceptor

Probably using our money for something they aren't telling us...

The money they would be moving from other banks will make 'our money' look like chicken feed.

[Ralliart]

nab screwed me around yet again, ordered a new debt card(changed the colour) they tell me i'm not going get charged for it, what do they do charge me $20 without me knowing about it, so i'm on the phone for 1 our hour to revsease the charges.

i was not happy when i saw it

[XR6_661]

my NAB account wasn't affected by any of this =)

[kaniSS]

Im with ANZ, still waiting for a NAB transfer from last Friday 26th.

[Ralliart]

Originally Posted by kaniSS

Im with ANZ, still waiting for a NAB transfer from last Friday 26th.

i found it funny with the media they say all affected has been fixed but i honestly doubt it.

[kaniSS]

Originally Posted by Ralliart

i found it funny with the media they say all affected has been fixed but i honestly doubt it.

Yeah it's absolutely enraging when they say all is fixed now. Everyone I talk to still has issues, or haven't received their pay transfers.