Human error blamed for botched Westpac payments

Thousands of customers overpaid, overcharged.

Human error is to blame for a transaction error which caused thousands of Westpac customers to miss payments, be overcharged and overpaid early yesterday.

A spokeswoman for the bank confirmed a error caused by staff had misaligned transaction verification processes for a batch of accounts in the bank's back-end payment systems.

The financial impact of the mistake is expected to cost 'many millions', however the bank shot down media reports that faulty payments were upwards of $1 billion.

Wetspac is "most of the way through" reimbursing affected customers, almost 24 hours after the incident, and will continue revoking over-payments and reimbursing those underpaid or charged overdraw fees.

"We have a formal processes in place to make sure a any customers impacted won't be out of pocket and are working with other banks to understand the impacts on their customers," she said.

IBM, which has a 10 year IT outsourcing deal with the bank, could not comment on whether any part of the error occurred on its side.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags outage

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Darren Pauli

Computerworld
Show Comments

Cool Tech

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Breitling Superocean Heritage Chronographe 44

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?