Commonwealth Bank says Netbank crisis over

The Commonwealth Bank has said the internal software problem that wiped out its online Netbank services, blocking hundreds of thousands of customers from accessing their banking services online, has been solved.

“The data display issue which restricted the ability of some customers to view their transaction histories online using the regular display balance feature was resolved Sunday afternoon,” the bank said in a statement today. “This problem is related to a software issue and we had IBM work with us to resolve the matter.”

“The Commonwealth Bank unequivocally assures all customers that all account information, including balances, is correct and that the security of their accounts and personal information has not been breached.”

Problems began last Sunday, 28 June, when customers could not access their online banking. It then took NetBank off-line due to “exceptionally huge volumes of traffic”.

But the bank’s problems aren’t over. Several customers are complaining about transactions missing from their histories, with some having to actively search for three months’ worth of transactions.

The Commonwealth Bank is currently upgrading its internet banking system in a $580 million project.