Commbank online and Visa transactions down:
Commbank Australia customers are unable to transfer money for hours because of issues with their Net Banking and CommBank App.
The bank issued a statement just before 7.30am after being inundated with people unable to use their accounts.
“We’re aware of an issue affecting non-CBA Visa card transactions at CBA merchant terminals and some payments in NetBank and CommBank app,” a Commonwealth spokeswoman said.
Those with MasterCard and CBA cards are not impacted by the outage. But businesses can’t accept Visa cards.
“We’re working to fix this as a priority and we apologize for any inconvenience,” she said.
Commonwealth Bank of Australia Customers who logged in to the net banking system received a message warning them to try again later.
“You may not be able to make payments or access all features while logged on this morning. Please try again later,” it said.
In April, customers with the bank had credit card balances disappear from the smartphone app and the online system.
The digital problems in April also temporarily wiped out the balances of home and personal loans, travel money card accounts and affected bill payments that used BPAY.
Shops were also unable to accept debit and credit card transactions from Commonwealth customers.
It is not clear when the current outage is going to be rectified.
CommBank Stock Price Analysis:
On 1 year time frame commbank stock down 6%. The stock is consolidating on weekly and monthly time frames with negative bias. And the stock is facing falling trendline resistance near 76 on weekly timeframe.
On Monthly chart it has a strong support at 60. One can initiate buying the stock if it shows bullish signs at the levels near 60.
Due to the event of failure of netbanking and Visa transactions the stock may continue its down turn.