Commonwealth Bank users are reporting an error which has seen duplicate transactions being taken out their bank accounts, resulting in overdrawn accounts for some customers.
"We are urgently reversing these transactions and any fees charged will be refunded. This may take some time and customers do not need to contact us to request this.
"Other banking services including the CommBank app, NetBank, credit and debit cards, ATM's, CommBiz and merchant terminals remain fully available.
"We're very sorry for the inconvenience and thank customers for their patience," the statement said.
Customers Hit Hard by Duplicate Transactions
The duplicates involve transactions from recent days and have resulted in some people having their bank accounts overdrawn. The situation has left some customers struggling to cover basic expenses, with some even facing the possibility of not being able to pay their rent.
The Commonwealth Bank said it was working to reverse these transactions “as a matter of urgency” and that any fees charged would be refunded.
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
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.
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 hasn’t been able to get through to Commonwealth Bank on phone or web assist and is worried if the situation is not resolved soon she won’t be able to pay her $390 weekly rent.
The Impact on Customers
The duplicated transactions are affecting customers in various ways, with many expressing frustration and concern over the lack of communication and support from the bank. Some have shared their experiences on social media, highlighting the financial hardship they are facing.
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 says the duplicated transactions are “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?
Bank Responds
Commonwealth Bank has acknowledged the issue and said it is working to reverse the duplicate transactions as quickly as possible. The bank has also offered support to customers experiencing financial difficulty, such as temporary overdrafts.
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.”
While the bank said it was treating the issue urgently, customers were demanding to know when their money would be returned.
One customer said they had “hundreds” of duplicate transactions on social media.
Looking Ahead
The incident has sparked concerns about the bank’s systems and customer support. Some customers have expressed their intention to switch banks, while others are worried about the potential impact on their credit rating.
The bank’s handling of the situation will likely be closely watched as it navigates the aftermath of the glitch and attempts to regain customer trust.
Some on social media vowed to move banks after their funds are returned, while customers in overdraft have expressed concerns about how it will affect their credit rating.
