Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Bajaj – Sponsored Content | ThePrint
    • India’s mutual fund industry moves toward long-term investment focus: Report
    • Regulation is stifling road decarbonisation investments
    • Difference Between SIP and Lumpsum Investment
    • Style Ratings For ETFs And Mutual Funds: Q4 2025
    • Blue Owl calls off merger of private credit funds
    • Fox Is Making Some Weird Business Deals
    • Property investor builds portfolio with London deal
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Funds»Commonwealth Bank says it has resolved duplicate transaction issue after funds wiped from accounts | Commonwealth Bank
    Funds

    Commonwealth Bank says it has resolved duplicate transaction issue after funds wiped from accounts | Commonwealth Bank

    October 19, 2024


    The Commonwealth Bank says it has resolved the error which left customers’ balances lower than they should have been after the bank charged some transactions twice, and left some worrying about how they would buy essentials and pay rent.

    The duplicates involved transactions from recent days and resulted in some people having their bank accounts overdrawn.

    After stating it was working to reverse these transactions “as a matter of urgency”, a Commonwealth Bank spokesperson told Guardian Australia shortly before 6pm on Saturday evening that “the process to reverse these transactions has been completed”.

    Any fees charged will be refunded, the bank said.

    Earlier, the bank issued an “important message” on Saturday morning to customers, saying “we are aware some customers are seeing duplicate transactions from payments”.

    It told customers it was “sorry for the inconvenience. Thanks for being patient with us”.

    However, for some the lack of funds was a matter of urgency. Some took to X, formerly Twitter, and described being unable to pay for essentials including medication, fuel, food and nappies.

    How am I meant to go buy my son nappies when my account is $400 overdrawn

    — .Nicole. ✌🏼🍉 (@NicoleAmy88) October 19, 2024

    One person on social media said they risked missing a flight because their account was overdrawn, leaving them without enough funds to get transportation to the airport.

    For some, their weekend plans have had to change – as one person put it, “this has fucked up my Saturday. Thanks Commbank.”

    When Sophie Edwards, a 19-year-old university student, saw her bank account was $230 overdrawn Saturday morning, she assumed she had been hacked. When she looked at her bank account, she saw she had been charged twice for every transaction she had made the previous week.

    Sophie Edwards is worried she won’t be able to pay her rent after funds were wiped from her CBA account. Photograph: Sophie Edwards

    Edwards said it had been an “extremely stressful morning. I’m already under a lot of pressure with money – this is an added stress I can’t afford”.

    Saturday is the only day she has to buy her groceries for the week, including food for her cats. But she said she was not able to afford the shop or the public transport costs to get there.

    She was unable to get through to Commonwealth Bank on phone or web assist and was worried about paying her $390 weekly rent.

    Marcelo, who asked to be referred to by only his first name for privacy reasons, said he was at the pharmacy register trying to buy his wife’s prescription medication for her arthritis after she had woken up with intense knee pain, only to find out his card was $600 overdrawn.

    The 42-year-old from Sydney found the duplicated transactions had wiped $3,000 between the couple. Marcelo said his only option was buying the medication with a buy now pay later business.

    He said the duplicated transactions were “still happening”, with all his transactions on Friday charged again shortly after midday on Saturday.

    “I’m definitely worried for the coming days,” Marcelo said, adding he was worried the bank will not pay the money back quickly.

    He has been talking with his brother, whose family have also lost funds due to the error, trying to figure out what they’re going to do. “I don’t know how I’m going to pay rent on Monday.”

    Marcelo said the situation has caused a lot of emotional distress within the family.

    How long? You’ve taken our money, pushed us into hardship. Give us the decency of telling us when you will give us OUR money back?

    — becchippindale (@becsbbbbb) October 18, 2024

    Commonwealth Bank said on X: “If anyone is finding themselves in financial difficulty, support such as a temporary overdraft may be available via calling us on 13 2221 or visiting us in a branch.”





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    Blue Owl calls off merger of private credit funds

    November 19, 2025

    How to invest in mutual funds  – Nairametrics

    November 19, 2025

    Advisers turn to money market MPS in volatile economy

    November 19, 2025
    Leave A Reply Cancel Reply

    Top Posts

    The Shifting Landscape of Art Investment and the Rise of Accessibility: The London Art Exchange

    September 11, 2023

    Regulation is stifling road decarbonisation investments

    November 19, 2025

    Charlie Cobham: The Art Broker Extraordinaire Maximizing Returns for High Net Worth Clients

    February 12, 2024

    The Unyielding Resilience of the Art Market: A Historical and Contemporary Perspective

    November 19, 2023
    Don't Miss
    Mutual Funds

    Bajaj – Sponsored Content | ThePrint

    November 19, 2025

    Equity mutual funds are an investment option that primarily allocate money to shares of publicly…

    India’s mutual fund industry moves toward long-term investment focus: Report

    November 19, 2025

    Regulation is stifling road decarbonisation investments

    November 19, 2025

    Difference Between SIP and Lumpsum Investment

    November 19, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    First Trust Global Funds PLC – First Trust Low Duration Global Government Bond UCITS ETF annonce un dividende trimestriel, payable le 10 avril 2025.

    March 26, 2025

    5 Fidelity Mutual Funds to Buy Amid Market Uncertainty

    May 2, 2025

    SEC Approves In-Kind Redemptions for Crypto ETFs: Game-Changing Move

    July 30, 2025
    Our Picks

    Bajaj – Sponsored Content | ThePrint

    November 19, 2025

    India’s mutual fund industry moves toward long-term investment focus: Report

    November 19, 2025

    Regulation is stifling road decarbonisation investments

    November 19, 2025
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    ₹10,000 monthly SIP in this mutual fund has grown to ₹1.52 crore in 22 years

    September 17, 2025
    © 2025 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.