6/9/2017 Bankcomputerglitches:theydohappen,soprotectyourselfnowYourMortgageAustralia

Australia'sOnly
IndependentMortgageWebsite

MortgageCalculator CompareHomeLoans HomeBuyersGuide MortgageBrokers MortgageNews Insurance

Home News Bankcomputerglitches:theydohappen,soprotectyourselfnow

Saturday,Jun10,2017

TopFeaturedRates TopBankRates
Loans.com.au 3.64
StateCustodians 3.69

Bankcomputerglitches:theydohappen,soprotect UBank 3.74

yourselfnow SCU
INGDIRECT


3.77
3.79
ByNilaSweeney Like 0 Tweet
Fontsize: HSBC 3.85

Since
Gethelpchoosingtherighthomeloan
August
2010,the Step1 Step2

bigfour
Whetheryou'reafirsthomebuyer,looking
banks torefinance,orinvesting,it'simportantto
haveexperienced havetherightloanforyourneeds.Justfill
inafewdetailsbelowandoneofour
ninetechnicalglitches trustedmortgageadviserswillcontactyou.
intheirpayments
Aquick&easywaytofindtheright
systems.Thatmeanspeoplelikeyoubeingleftwithoutcash homeloan
orunabletomakeurgenttransfers.Sometimesyourfinancial
Purposeofmortgage
informationmightevenberevealedtootherpeople.
Select...

HouseholdIncome
Mostrecently,theCommonwealthBanksEFTPOSandATM
$
facilitiescrashedonthenightof29February,whichattracted
plentyofcomplaintsfromitscustomerswhohadtorelyon Howmuchdoyouwanttoborrow?

existingcash. $

Theserviceswererestoredthenextmorning,andthebank Howmuchdepositdoyouhave?
apologisedtocustomers. $

Howsoondoyouwantamortgage?
TheCommonwealthBanksaiditssystemcrasheddueto
problemsprocessingpayments,andwarnedcustomerscould
facemoreglitchesinthefutureasthebankmovestowardsa
newplatform.

Andjustlastweek,theUBankwebsite(ownedbyNAB)temporarilycrashed,so
NABcustomerswereunabletomakeanytransactionsonthemorningof9March.

InJanuary,60peoplewereabletoaccessonlinebankstatementsthatwerent
theirsasaresultofaglitchinANZsITsystem.

NAB,Westpac,BankofMelbourneandStGeorgealsoreportedtechnicalhiccups
intheirpaymentssystemlastmonth.

SpecialOffers

https://www.yourmortgage.com.au/article/bankcomputerglitchestheydohappensoprotectyourselfnow123183.aspx 1/4
6/9/2017 Bankcomputerglitches:theydohappen,soprotectyourselfnowYourMortgageAustralia

ChrisHamilton,CEOoftheAustralianPaymentsandClearingAssociation(APCA), PurchaseorRefinance3.64%3.66%cr

saysitsdifficulttodistinguishanunderlyingissue,aseachglitchhasbeencaused Awardwinningloan3.69%pa3.72%cr

byauniqueproblem,andnoreliablestatisticsonbankITfailuresarepublished.We InvestorLoan3.99%4.01%cr

dontknowifthenumberofglitcheshasrisenornot,butwedoknowtheyrebeing FreeAussieHomeLoanRefinancingGuide
publicisedmorethroughsocialnetworkingsites,saysHamilton. Comparethousandsofhomeloans

Whatcanyoudo?
Fromjustthebankyouneed.
Basically,getonthephoneortheweb.TheCommonwealthBanksaysifcustomers
areexperiencingtechnicalissues,thebestwaytofindoutthecauseoftheproblem FINDOUTMORE
istocallyourbankorvisititsFacebookorTwitterpages,whereyoullfindthelatest
updates.

Financialinstitutionsareveryconscientiousaboutthesethings,soifacustomer
callstheirbankdirectlytheywouldreceivehelpimmediately,saysHamilton.He
alsomakesthepointthatifyoudosufferamonetarylossasaresultofaglitch,its
RelatedKeywords
verylikelythatyourbankwillcompensateyou.
investmentstrategy stampduty

Toptipsforplayingitsafe propertyinvestor refinancing

mortgagecalculator interestrates
Neverdoyourbankingonapubliccomputerorinanareawithafreewireless
propertyinvestment firsthomebuyers
connection.Whenbankingfromhome,checkthattheURLofthewebsiteyoureon
mortgagerepayments SMSF homeloanrates
beginswithhttps://,whichindicatesthatyoureinasecurenetwork.Onceyouve
mortgagebrokers mortgageinsurance
finished,besuretocompletelylogout.
mortgagebroker

firsthome
Takearegularlookatyourtransactionhistorytomakesurenounauthorised
transfershavebeenmade.Ifatransactiononyourstatementlookssuspiciousor
unfamiliar,contactyourbankimmediately. Home Loan Rates
from

AlwaysbesupercarefulwithyourPINsandotherpersonaldetails.Mostcasesof 3.69% 3.72%
P.A Variable Rate^ P.A Comparison Rate*
fraudareinfactcausedbythecustomernotprotectingtheseratherthanbecauseof
Find Out More
aglitchinthebankssystem.

Willsystemsimprove?
Australian Credit Licence 390850
^*Click for Rate and Comparison Rate Warning

TheReserveBankandAustralianPrudentialRegulatoryAuthority(APRA)have
nowputtheissueontheirradar,tellingbankstheymustreportanytechnical
problems.Indialoguewithbanks,theRBAandAPRAareexploringwaystotarget
theproblem.

Theolddaysofhaving24to48hourstofixaproblembeforecustomersare
affectedarelonggone.Notonlythat,butthebarisrisingintermsofthe
expectationsofcustomersandmerchants,andthetoleranceisfallingforoutages,
DavidPegrem,headofITriskatAPRA,says.

IndependentEFTPOSprovider,TyroPayments,alsosaysthebanksneedtostep
upontheirpaymentsystems.Fortoolong,bankshavestarvedthepayment

https://www.yourmortgage.com.au/article/bankcomputerglitchestheydohappensoprotectyourselfnow123183.aspx 2/4
6/9/2017 Bankcomputerglitches:theydohappen,soprotectyourselfnowYourMortgageAustralia

infrastructureofinnovationandinvestment,saysTyroPaymentsCEO,Jost
Stollman.Hesaysbanksshouldaimtohavepaymentssettledinrealtime,rather
thanonceaday.

Inastatement,theCommonwealthBanksaysitsCoreModernisationBanking
programiswellunderwaybutbythetimeitsnewplatformisinplace,the
Commonwealthwillhavebeenrelyingonitscurrentpaymentssystemfor40years.

Collectively,theCommonwealthBank,WestpacandNABarespending$4bnon
upgradingtheirplatforms.Oncethesystemsareupgraded,customerscanexpectto
processaloaninafewminutesratherthantwohours,saidNABgroupexecutive
GavinSlaterearlierthisweek.

ByStephanieHanna

Withinterestratesattheirlowestformorethan50years,therearesomegreat
ratesavailable.Thebestthingtodoistocompareratesfromallthelenders.Letus
helptakethelegworkoutofdoingthisCompareHomeLoansnow

Tweet
Like 0 OTHERSECTIONS

MortgageNewsandArticles
Australiamovesupinglobalhousepriceindex
Annualgrowthinhousepriceswasboostedby
thestrongperformanceofSydneyand
Melbourne...Readmore

BrokersslamAPRAs
crackdownoninterestonly
loans
ByMichaelMata|09Jun2017
APRAsmovestolimittheflowofnew
interestonlyloansneglectedtoconsiderits
impactonregionalAustralia,accordingto
brokersReadmore
Greatinvestmentopportunitiesinthepost
boommarketShrewdandwellinformed
propertyinvestorscanstilltapintogolden
opportunitiesin2017andbeyond...Readmore
Ittakesdecadestosaveforafirsthome
depositinSydneyAspiringfirsthomebuyers
wouldneedtoearnahighincomeandsave
moneyfordecadestoaffordadepositontheir
firsthome...Readmore
Moremortgagenewsandarticles

SponsoredLinks

loans.com.auhomeloans
PurchaseorRefinance
3.64%pa3.66%comparison
UBankUHomeLoan
UBank 3 .74 %
3.74%p.a.var/comparisonrate
80%LVR 3.74%variable&comparison
80%LVR
INGDIRECTOrangeAdvantage3.89%
3.79%variableinterestrate
4.01%comparisonrate

https://www.yourmortgage.com.au/article/bankcomputerglitchestheydohappensoprotectyourselfnow123183.aspx 3/4
6/9/2017 Bankcomputerglitches:theydohappen,soprotectyourselfnowYourMortgageAustralia

FirstHomeBuyers RefinanceMortgages PropertyInvestment

MortgageCalculators CompareHomeLoans MortgageBrokers MortgageChooser YourMortgageTV InvestorForums BankHomeLoans
BestHomeLoans StandardVariableRate BasicVariableRate IntroductoryRate ReverseMortgage LineofCredit FixedRate
News Articles Q&A Tips&Guides InterestRates MarketWatch Freecontent

Terms&Conditions Advertising Aboutus Contactus Privacy Disclaimer Sitemap RSS

Copyright19962017KeyMediaPtyLtd

KeyMedia AustralianBroker MortgageBrokerNews MortgageProfessionalAmerica MortgageProfessionalAustralia

WhichMortgage YourInvestmentProperty

https://www.yourmortgage.com.au/article/bankcomputerglitchestheydohappensoprotectyourselfnow123183.aspx 4/4