• Contact
  • Feedback
Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Afterpay promises to reverse late fees after system malfunction

21 February 2024 6:04AM

Afterpay customers have been hit with late fee notifications after a systems failure resulted in direct debit transactions not being processed by the company. Disgruntled Afterpay customers yesterday contacted Banking Day about the issue after they received SMS notifications that they would be hit with late fees for not settling their accounts on time. The customers said they had direct debit arrangements in place with the buy now pay later company to meet their repayment obligations. An Afterpay spokesperson confirmed last night that some customer payments had not been processed on Monday due to a technical problem and promised that all resulting late fee notifications would be “waived”. “A number of customers were impacted by a technical glitch in our automatic payment process,” the spokesperson said.  “We are in the process of resolving this issue.  “Any late fee notifications generated as a result of the interruption will be waived so that there is no customer impact.” Afterpay refused to say how many customers had been affected by the problem. Customers told Banking Day that they had found it difficult to get information from the company after receiving their late fee notifications. While some Afterpay customers posted complaints about the direct debit problem on social media, the company did not provide any updates on its website about the problem.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use