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The Guardian - AU
The Guardian - AU
National
Australian Associated Press and Josh Taylor

Australian banks hit with payment transfer outage as RBA blames technical error

RBA Australia Reserve Bank Westpac ANZ Commonwealth Bank NPP
A man in orange high-vis walks past the Reserve Bank of Australia
The Reserve Bank of Australia said Osko experienced an internal engineering issue leading to an outage of bank transfer payments. Photograph: Mick Tsikas/AAP

The Reserve Bank has said an internal system engineering issue caused a four-hour industry-wide bank payment transfer outage that left customers in the lurch.

The RBA confirmed the issue affected its fast settlement service which provides for the settlement of New Payments Platform (NPP) transactions between banks.

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