heraldsun.com.au, Lema Samandar From: AAP November 27, 2010
MILLIONS of people are still without their pay as National Australia Bank works through the weekend to fix a computer glitch that's delayed payments.
The problem began on Wednesday due to an error in NAB's data processing and still has not been resolved.
Customers now face the weekend without access to their money as the bank sought to reassure them that payments will be made soon.
NAB spokesman George Wright said the bank was trying to solve the problem as soon as possible but could not say when all of its accounts would be updated.
"Some of the delayed processing has now occurred,'' Mr Wright said.
"But there's still a large amount to get through and we're working on that now and we will continue to over the weekend.''
Commonwealth Bank, ANZ Bank, Westpac, HSBC and Citibank have all confirmed that some of their customers' transactions have been affected by the errors in NAB's data processing.
HSBC said 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.
Mr Wright said NAB was working with the other banks to fix the problem and also giving its own customers its full support.
"A lot of people are frustrated and angry about this and understandably so - it's been very inconvenient for a lot of people,'' he said.
"But the really important thing for people to remember is that payments will be made.
"There are some payments that need to go to other banks that have been delayed, so we're getting those moving.''
NAB opened 120 branches across the country today to give customers access to cash and its call centre is in overdrive.
The bank also said it won't leave customers out of pocket through any penalties as a result of the technical glitch.
"If they are (charged any fees) they should contact us and we will put the situation right,'' Mr Wright said.
Consumer group Choice says while the big four banks are under pressure because of competition, their payment system should also be scrutinised.
"As everyone knows, if you're making a payment to the bank it vanishes from your account at the speed of light,'' Choice spokesman Christopher Zinn said.
"But if someone is making a payment to you, that can get held up over weekends, public holidays.
"I don't know what computers take public holidays but obviously the banks are much quicker at taking than they are at paying out and that is in their commercial advantage.
"We have to query that and ask why is it so and why must it be so.''
National Australia Bank (NAB) is Australia's biggest bank
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