Receive the latest mybusiness news
Copyright © 2020 MOMENTUMMEDIA

Bank confirms compo for outage losses

Adam Zuchetti
Adam Zuchetti
21 August 2018 1 minute readShare
money, Australian dollars

The Commonwealth Bank has confirmed that certain customers affected by this week’s technical issues will be entitled to claim compensation for losses incurred.

CBA said on Tuesday morning (21 August) that the problems caused by a data centre failure have been resolved, and that all affected systems – including NetBank, the CBA app and its Visa cards – are back online.

The bank received dozens of comments and complaints from disgruntled customers who claimed to have suffered financial losses as a result of the technical issues, such as not being able to transfer funds to meet direct debits and merchants losing money by not being able to process sales.

A spokesperson for CBA told My Business that it is not yet known how many customers were affected, but that merchant losses were largely restricted to a few hours on Monday morning, with the issue resolved mid-morning.

“I couldn’t say [numbers] – our focus has been on getting systems back up and running,” said the spokesperson.

Nevertheless, compensation will be made available to all customers, including businesses, who directly suffered financial losses because of the problems, the bank confirmed.

“In terms of compensation, we are working with customers on a case-by-case basis, so we really encourage them to get in touch with us,” the spokesperson said.

“The best way to get in touch with us is through our contact centre [on 13 22 21].”

The bank confirmed that direct debits were not affected by the problems and proceeded as scheduled.

While online banking was down, customers could still have made transfers through phone banking or in branches, which remained unaffected, as did ATMs.

Bank confirms compo for outage losses
mybusiness logo
Adam Zuchetti
Adam Zuchetti

Adam Zuchetti is the former editor of MyBusiness and a senior freelance media professional, specialising in the fields of business, personal finance and property. In 2020, he also embarked on his own business journey – inspired in part by the entrepreneurs and founders he had met through his journalistic work – with the launch of customised pet gifting and subscription service Paws N’ All.

Leave a Comment

Latest poll

How satisfied are you with the SME measures in the federal budget?