Australia’s biggest banks are struck by ‘industry-wide outage’ of critical Osko payment system: Here’s what it means your bank transfers
- Problems sending and receiving payments through Osko payment system
- The payments system is used by multiple banks so affects millions of customers
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Australian banks have been temporarily crippled by an outage in the industry-wide OSKO payment transfer system, leaving thousands of frustrated customers in the lurch.
The major banks including ANZ, Commonwealth and Westpac all experienced the outrage overnight – with the Reserve Bank of Australia admitting it was at fault on Thursday.
‘The RBA experienced an internal system engineering issue yesterday evening,’ the statement noted.
Westpac said it was aware an issue had been identified by payment platform operators that was impacting all Australian financial institutions.
Major delays in sending and receiving money is being caused by an industry-wide outage of the Osko processing system (pictured, a message from one of the banks to a customer)
The Reserve Bank of Australia admitted it was at fault on Thursday
‘Please know that this has since been resolved,’ the bank said on Wednesday night.
ANZ released a similar statement saying it was ‘experiencing an industry-wide outage’ preventing the processing of payments.
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Commonwealth was also rocked by the issue impacting OSKO payments.
‘Please don’t retry your transaction,’ the bank advised.
Despite assurances the technical issue is fixed, some customers are still facing delays in payments.
Commonwealth Bank was also rocked by the issue impacting OSKO payments
Fears the fast payment system was experiencing technical problems emerged on Wednesday night, when reports came out that money was not being received.
Users took to social media to vent their frustrations that day.
‘Is there a reason that my Osko payments have not landed in the account I have transferred to? Trying to call to get some answers however I have been on hold for a long time …’ one said on Twitter.
Osko payments send bank transfers between participating banks and financial institutions in under a minute, every day including weekends.
The payments are made via a person’s online banking and is backed by BPAY.
Fears the fast payment system was experiencing technical problems emerged on Wednesday night, when reports came out that money was not being received (pictured, a message from a bank)
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