Payment chaos through technical disorders: salaries and pensions affected!

Payment chaos through technical disorders: salaries and pensions affected!

A technical problem in the European payment system caused massive delays in domestic transfers in Austria on Thursday. Both salary and pension payments are affected, which can be delayed by one day, as Erste Bank announced to its online banking customers. The cause of the disorder comes from failures in two central payment systems of the European Central Bank (ECB), but the ECB made it clear that it was not a hacker attack, but a technical error. The damage is fully remedied today, the bank assured, and all open payments, including pension transfers, are to be made up for during the day with the correct valuta date, reported Vol.at .

On Friday, numerous concerned customers reported to the small newspaper, since pension payments and salaries continue to be received in their accounts. The Erste Bank pointed out that the delays from the disorder in the European payment system, especially in the "Target 2" (T2) platforms, were caused for large payments and "T2S" for securities transmissions. These problems were resolved on the evening of the same day, according to the ECB. The bank called for its customers to refrain from inquiries not to overload the channels and assured that all outstanding transfers are justified, such as Kleine Zeitung reported.

The difficulties also met the German central caterer Clearstream, who is closely connected to the German stock exchange. Dealers reported problems in communication between central wastels, which also complicated the situation. The ECB advises all participants, transfers in which rejections have occurred to send again to fix the errors. The disorder has illustrated how important smooth communication in this sensitive financial sector is.