MyBudget call in tech experts to resolve massive outage
Spending management company MyBudget has called in tech experts to help resolve a week-long outage that’s left frustrated customers unable to access their money.
National
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Exclusive: Cash-strapped customers using money management firm MyBudget to take care of their finances are livid they still don’t know why they cannot access their own money.
But the firm’s boss Tammy Barton today told News Corp they had called in leading technology experts to try and resolve the week-long outage.
MyBudget manages money for about 13,000 Australians and has been flooded with complaints since a system outage first struck last Saturday.
Furious customers have been unable to get through to the firm’s jammed-up phone lines and many have been left waiting on hold for hours.
While MyBudget says their wait times to get through to their call centre are approximately 30 minutes, many customers have complained they cannot get through after repeatedly trying or have to wait hours to speak to someone.
Project manager Melissa Smith, 28, from Spotswood in Melbourne said she’s worried sick about her finances given she has been unable to access her MyBudget account for nearly a week.
“I had to wait on hold for three hours to get through,” she said.
“It’s hard because we actually don’t know what bills are due and what’s not because it’s all held in the app,.”
MyBudget, established by multi-millionaire businesswoman Tammy Barton, charges customers a set up fee of $1100 and then on average of $46 per week to manage their financial affairs.
They set up a bank account where customers can view their balance and search transactions while also being able to see all their finances for the next year.
The firm takes care of their payments and divvies up money for clients.
Mrs Barton said in an issued statement they were still experiencing an outage and “are working with some of the country’s leading technology experts to fix the issue”.
She said any late fees incurred by our clients due to the outage would be reimbursed.
But Mrs Smith said said was concerned whether her money was “actually safe”.
“They keep reassuring us in email notifications that it is but it’s a bit stressful, because I’m wondering when this is all over is our money still going to be there,” she said.
She has had to phone up MyBudget to arrange her necessary payments to be completed manually.
She has debts including a mortgage and personal loan and recently took a mortgage holiday because her housemate lost her job during COVID-19.
Insurance broker Brett Levey, 43, from Happy Valley in Adelaide pays the firm about $40 per week to manage his money but said the recent outage had added extreme stress to his family, particularly after his wife was put out of work and is on JobKeeper.
“We’ve had to use our mortgage redraw account to get by which isn’t ideal, I’m pulling money out of the mortgage to pay for things,” he said.
“I went there to take the stresses out of money for me and I’ve got two little kids, but my wife got hold of them this morning and now I’ve got a whole different bunch of concerns.”
He said they transferred all his money out of his account which is not what he wanted to happen and now he’s considering leaving them for good.
Mr Levey also said it’s “absolutely appalling” that MyBudget has said customers have to phone up to discuss fee relief plans, he said this should be automated and “isn’t up for discussion.”
Perth mother-of-two Melissa Langley, 41, who runs her own hair braiding business said it had been extremely stressful as she was unable to access her MyBudget account online.
“We use MyBudget and we pay them a fee to handle our money,” she said.
“Things are out of whack for me now, I don’t know what has been paid and what hasn’t been paid, it’s super stressful.
“I’m so annoyed I just want to get out of here and manage my own money but they are a good service.”
Ms Langley said she will have to ring the firm and arrange how her bills can be manually paid.
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Another disgruntled customer IT consultant Mark Sergeant, 42, from Melbourne, said he was “not happy” with the lack of information about the outage.
“Being in IT myself the information around the around the outage is a bit sparse,” he said.
“I can’t see anything online, I have to operate off my memory, I have no idea what should be paid when.
“The timing isn’t great and I’m sure there would be many people out there who would be extremely stressed by this.”
On its website MyBudget describes itself as a “caring money management, structure and support to ensure you have enough money to pay your bills on time, have savings in the bank and live the debt-free, stress free life you desire”.
Mrs Barton has previously been listed on the BRW Rich List and it has been reported the company turns over $34 million a year.
Financial Counselling Australia’s chief executive officer Fiona Guthrie said the systems outage seemed to be “a very long time to have a glitch”.
“Everyone has problems with their systems but I hope people are being kept informed and they will be reimbursed if they are impacted,” she said.
“Also I hope they are not left worse off, the timing could not have been worse.”
Ms Guthrie said when it comes to managing money “sometimes you can do it yourself”.
MyBudget said they have experienced a high call volume due to the outage and said if customers call and hear an engaged signal it means the queue is at capacity.
They suggested customers call back again later.
If you have been impacted please email sophie.elsworth@news.com.au.
Originally published as MyBudget call in tech experts to resolve massive outage
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