MyBudget outage: Everything you need to know
Thousands of Australians using money management firm MyBudget remain in limbo and are no closer to finding out what’s happening with their cash. Here's what you need to know.
Business
Don't miss out on the headlines from Business. Followed categories will be added to My News.
Thousands of Australians using a third-party to manage their finances remain in limbo and are no closer to finding out what’s happening with their money.
Adelaide-based firm MyBudget has been flooded with complaints from their 13,000 customer base as many worry if they finances are safe after the firm continues to suffer a systems outage which was first detected last Saturday.
Here’s everything you need to know if you are a MyBudget customer.
Q. What’s caused the outage?
MyBudget has yet to reveal what has caused the current system outage.
They have said they will provide a full explanation as soon as they have it.
Q. How can your existing payments be made?
The firm is continuing to do manual payments which requires customers phoning them up and asking them to help with paying bills, mortgages and other expenses.
Q. How do I get in touch with MyBudget?
The firm says to call them up, their call centre is open Monday to Friday from 7.30am to 7pm AET. They are not available on weekends.
Q. Should I expect a waiting time to get through?
Yes, they said they are experiencing extremely heavy call volumes.
If you call and hear an engaged signal it means the phone queue is at capacity.
Customers should hang up and call back again later.
Q. Will I get fee relief because of the outage?
Yes. Administration fees will be waived during the outage. MyBudget is implementing fee relief plans for individuals impacted during this time.
Q. How do I get fee relief?
It has been advised that once the systems are back up and running you should phone up MyBudget and discuss your options.
If you have been impacted please email sophie.elsworth@news.com.au.