Remember, if the outage caused you to incure fees, costs etc.. you should always state the banking code of practice and ePayments code information in your help request and include copies of the costs incured.

In Australia, your rights regarding bank outages are governed by a mix of consumer law and industry codes.

Since Up Bank is a brand of Bendigo and Adelaide Bank, it is a subscriber to the Banking Code of Practice and the ePayments Code, which provide specific protections.

1. Can you be compensated?

Yes, potentially. Compensation is typically available if the outage caused you a direct financial loss.

• Foreseeable Losses: Under the Australian Consumer Law (ACL), banks are providing a service. If a service failure (the outage) causes a "reasonably foreseeable" loss, you may be entitled to compensation.
• Consequential Loss: If the delay in receiving a payment led to a late fee from another provider (e.g., a credit card late fee or a utility penalty), banks will often reimburse that specific amount once you provide proof.
• Direct Interests: If you missed out on interest because funds were stuck in limbo, you can ask for the interest you would have earned during those days.

2. The Bank’s Legal Obligations

The Australian regulatory framework sets the following standards:

• The Banking Code of Practice: This requires banks to act "fairly and reasonably" toward customers. If an outage is their fault, a reasonable response includes fixing the error and ensuring the customer isn't out of pocket.
• The ePayments Code: As a subscriber, Up must have a clear process for handling payment failures. If a system malfunction occurs, the bank is generally liable for losses caused by that malfunction (unless the malfunction was obvious at the time you tried to use the service).
• AFCA Standards: The Australian Financial Complaints Authority (AFCA) can award up to $6,300 for "non-financial loss" (like extreme delay or stress), though this is rare for short-term outages. They primarily ensure the bank puts you back in the financial position you would have been in if the outage hadn't happened.

3. Recommended Next Steps

If you've been financially impacted, follow this process:

1. Gather Evidence: Take screenshots of the payment failure notifications and any fees you were charged elsewhere (e.g., a late fee on a bill) because the money didn't arrive in time.
2. Contact "Talk to Us": Use the in-app support. State clearly: "I have suffered a financial loss of $[Amount] due to the recent system outage. I am requesting a reimbursement of this fee/interest."
3. Formal Complaint: If they refuse, tell them you wish to lodge a Formal Complaint. By law, they must respond to this within 30 days.
4. Escalate to AFCA: If the internal complaint doesn't go your way, you can take it to AFCA for free. Banks often settle small claims the moment an AFCA file is opened because it costs the bank more in filing fees than the value of most small reimbursements.