Overview
- An RBA technical incident disrupted direct entry payments and property settlements on Tuesday between about 10:00am and 4:30pm AEDT.
- The disruption created a backlog of roughly 900 delayed property settlements, with about 100 Victorian transactions still unresolved until late Thursday morning.
- The RBA extended Tuesday’s settlement day to 10:45pm and issued an apology, noting there have been no further system issues since late Tuesday.
- Workers experienced late pay, with delays reported mainly among employers processing pay runs through ANZ; Bendigo Bank and its Up Bank arm were also affected via ANZ, with the broader impact across other institutions unclear.
- PEXA says its platform remained operational throughout and attributes delays to the RBA issue, as conveyancers and buyers rebooked settlements and adjusted moving plans and rate timings.