I read the following article on how a person went to pay their $225 Telstra bill and ended up making a payment of $2,250,623.00.
http://www.news.com.au/technology/gadgets/mobile-phones/telstra-bill-payment-leaves-customer-with-bank-account-overdrawn-by-more-than-2-million/news-story/89b3399dea33e6bbecb02ba5b181d826
The customer was understandably irate and subsequently had to deal with a stressful couple of days.
In the article the person said they went to pay 225, I thought that was interesting because my experience is you would also need enter .00 for the amount. I then decided to check the number 062300 which appeared in the payment amount. My thought is this was most likely the banks BSB number. It turns out this is a branch of the Commonwealth Bank in NSW (Carlingford in Pennant Hills). Whilst it is possible this may be a system error, given the person said they entered only 225, does use the Commonwealth Bank, if this is their bank BSB, it may mean they didn't move onto the next field to enter the BSB.
It's hard to imagine an online banking system allowing a transaction that would allow an account to go into such a negative amount. You would think such a transaction would immediately be flagged as invalid and the person would then know to enter the correct amount.
This is a good warning to all of us to keep in mind the online systems of the major companies in Australia, may not be as foolproof as we think they should be. A warning that we need to double check what we are entering before hitting the submit button and then double checking before completing the transaction.
Kelvin Eldridge
www.OnlineConnections.com.au
http://www.news.com.au/technology/gadgets/mobile-phones/telstra-bill-payment-leaves-customer-with-bank-account-overdrawn-by-more-than-2-million/news-story/89b3399dea33e6bbecb02ba5b181d826
The customer was understandably irate and subsequently had to deal with a stressful couple of days.
In the article the person said they went to pay 225, I thought that was interesting because my experience is you would also need enter .00 for the amount. I then decided to check the number 062300 which appeared in the payment amount. My thought is this was most likely the banks BSB number. It turns out this is a branch of the Commonwealth Bank in NSW (Carlingford in Pennant Hills). Whilst it is possible this may be a system error, given the person said they entered only 225, does use the Commonwealth Bank, if this is their bank BSB, it may mean they didn't move onto the next field to enter the BSB.
It's hard to imagine an online banking system allowing a transaction that would allow an account to go into such a negative amount. You would think such a transaction would immediately be flagged as invalid and the person would then know to enter the correct amount.
This is a good warning to all of us to keep in mind the online systems of the major companies in Australia, may not be as foolproof as we think they should be. A warning that we need to double check what we are entering before hitting the submit button and then double checking before completing the transaction.
Kelvin Eldridge
www.OnlineConnections.com.au
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