UPDATE: Greater Bank has resolved an issue that affected the processing of payments from other financial institutions.
An estimated 20,000 customer payments weren't processed on Thursday morning following a failed data connection between Greater Bank and an external supplier.
Greater Bank CEO Scott Morgan thanked customers for their patience.
"The processing issue was identified early this morning and since that time our IT and Payment Processing teams have worked closely with the supplier to resolve the matter," he said.
“With the issue now being addressed, all scheduled payments will be processed immediately, and customers will see money in their accounts this afternoon.”
Customers won't be charged any direct debit dishonour fees for payments scheduled overnight that are now being processed.
“We understand this may have caused great inconvenience to many of our customers who were expecting payments overnight. We would like to express sincere apology and ensure that internal process we have in place ensured a quick resolution to this matter,” Mr Morgan said.
EARLIER: Some Greater Bank customers have been unable to make and receive direct debit payments this morning.
The Newcastle-based bank says there's been an issue overnight with its third party payments provider, affecting incoming and outgoing payments for some customers.
"We've identified the cause of this issue and are working to have this resolved by lunchtime today, by which time all payments should be processed," the bank said in a statement posted on Facebook.
"We apologise unreservedly for these delays, and are allocating every resource to ensure a fast resolution. We wholeheartedly appreciate your patience during this time."