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SLV^GLD
27th November 2010, 05:48 AM
NAB pay bungle hits thousands
Karen Collier (collierk@heraldsun.com.au)
From: Herald Sun (http://www.news.com.au/heraldsun/)
November 26, 2010 9:49PM

http://www.heraldsun.com.au/news/national/nab-computer-glitch-hits-wage-centrelink-payments/story-e6frf7l6-1225961012671

Tens of thousands of anxious people could still be without cash for the weekend because of backlogs from the shambles.

The IT nightmare left some families destitute, throwing grocery and Christmas shopping, birthday party plans and even holidays into chaos.

Desperate customers told the Herald Sun of having nothing or as little as 10c left in accounts, or plunging hundreds of dollars into overdraft.

One said she had kept her children home from school because she had no money to put fuel in the car.

The NAB's call centre has been in meltdown since a corrupt file disrupted Wednesday's overnight payment process.

The malfunction stalled salaries, Centrelink benefits, contract settlements and property deals, and slowed ATM and Eftpos transactions.

The problem spread to some customers from other banks and credit unions waiting on wages and other payments from employers, clients and banks that deal with NAB.

Upset consumers demanded compensation for any fees for late mortgage and credit card payments, overdrawn accounts or bounced direct debits charged by any institutions as a result.

Emergency $500 advances were yesterday issued to some customers suffering hardship.

NAB spokesman George Wright said the bank would try to ensure no one was financially disadvantaged through dishonour fees from any organisation.

He denied NAB would pocket extra interest from the debacle.

Wodonga mum Leonie Cox said she was forced to borrow $100 from her mother-in-law to pay for food and nappies.

"This is disgusting. We live from fortnightly to fortnightly pay," she said.

Mr Wright said most people had received missing money.

But he admitted up to 40,000 customers may be waiting until Monday.

Seaford disability pensioner Ann said she had only $20 left in her account after her payment did not arrive.

mrnhtbr2232
27th November 2010, 06:03 AM
Yet more evidence no one saves or is prepared for a sudden breakdown. The correct response to such a situation would be "wow - must suck to be the I.T. guy" instead of "oh my God I can't buy groceries" if one was prepared.

Glass
27th November 2010, 06:06 AM
the bank with the worst insolvency status of the 4 major australian banks. yes that's right Australia has 4 banks. this one is heavily into European debt. A big holder of the northern rock debt which is a UK bank that went under a couple years ago. It is apparently a computer glitch which has now spread to other banks.

will be interesting to find out what is really going on. I sleep on a matress so I am ok.

People are idiots so as they find that they can't get money out or pay their cable bill it's gonna be a surprise. Aussies are lucky to have 2 weeks of food in their pantries. I used this to give my family a rocket and pull their finger out. I got some family caught in the earthquakes in NZ and it just gets worse and worse. Power, water, food and the Govt is making no progress so it's every man for themselves.

I pay my bills forward 2x. I'm ready.

I should point out that this has been going on since Wednesday this past week so it's more than just a "glitch". It's IT sacking time if this is a glitch.

Book
27th November 2010, 06:27 AM
http://3.bp.blogspot.com/_dH0q9hvpVHg/SMpugFmitOI/AAAAAAAACCw/uslp4Vd1Yc0/s400/grocery.jpg

Nobody will be reading the date on your "silver" dime and give you more than ten cents for it Mate!

:D

SLV^GLD
27th November 2010, 06:32 AM
1stly, NOBODY is a strong term. My local dealer is not NOBODY and he WILL read the date and give me more than 10c for it.

That said, your post is a non sequitur; this article is about having liquid cash on hand and not locked up as a bunch of zeroes and ones to be glitched away. This post is about having food and necessities on hand and not locked up in a supermarket dependent on JIT distribution and guarded by a cash register that only responds to the zeroes and ones or to that liquid cash you should be holding.

What a failed troll, Book, you can do better.

Book
27th November 2010, 06:51 AM
My local dealer is not NOBODY and he WILL read the date and give me more than 10c for it.



Take your precious "silver" dime over to the grocery store right now and ask them to read the date and give you more than ten cents worth of food for it.

You yourself admit that only your "Dealer" will give more than ten cents for your "silver" dime. He doesn't have any food to exchange and notice that he demands FEDERAL RESERVE NOTES for his own "silver" dime today.

:ROFL:

Twisted Titan
27th November 2010, 06:53 AM
On a Black Friday thread someone posted what it would be like if a Bank Shutdown occured durring the Holiday Rush How would the sheep react.

We Now have our Answer.

Serpo
27th November 2010, 01:57 PM
On a Black Friday thread someone posted what it would be like if a Bank Shutdown occured durring the Holiday Rush How would the sheep react.

We Now have our Answer.


Yes they run around in circles and start bleating......

Twisted Titan
27th November 2010, 10:19 PM
On a Black Friday thread someone posted what it would be like if a Bank Shutdown occured durring the Holiday Rush How would the sheep react.

We Now have our Answer.


Yes they run around in circles and start bleating......


mum Leonie Cox said she was forced to borrow $100 from her mother-in-law to pay for food and nappies.

"This is disgusting. We live from fortnightly to fortnightly pay," she said.

Living hand to mouth never sounded so proper.


T

BillBoard
28th November 2010, 06:06 AM
The banks and government do not make it easy for you to transact your business with cash, simply because the bank can leverage your money while you have it on "deposit" and the government can tax every transaction you make.

To add insult to injury, they have designed the system that you cannot save enough of your income to become self sufficient, after you are living hand to mouth then they blame the sheep they are not responsible enough to care for themselves.

meh.