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RBS says 99% of accounts updated

Sir Mervyn King

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Mervyn King: “Computer systems will always go wrong… a critical thing is either we have fill-in systems”

Banking organisation RBS has pronounced that 99% of RBS and NatWest accounts have now been brought adult to date.

A mechanism program ascent during RBS unsuccessful final week, disrupting many payments into and out of accounts.

However, RBS combined that a Ulster Bank business continued to humour “unacceptable delays”.

Bank of England Governor Sir Mervyn King has called for a notation examination into what went wrong and a time it took to recover.

He combined that a problems demonstrated a significance of government focusing on a use duty of banking, that was unequivocally opposite from investment banking.

The Financial Ombudsman Service has warned it could take several weeks for bank business to have all a effects of a comment problems sorted out.

RBS pronounced on Tuesday that it had cancelled a designed corporate liberality during a Wimbledon tennis contest as a outcome of a mechanism problem, observant it would be “inappropriate” to take guest to a contest “under a circumstances”.

Extra hours

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Details about what went wrong within RBS’ mechanism systems are scant. RBS trainer Stephen Hester pronounced it was down to a disaster of a program ascent that caused a backlog.

Experts have speculated that a blunder arose in a banks “batch processing” systems. This program schedules all a jobs a bank does to refurbish a accounts of a business in a categorical databases.

Bryan Glick, editor of Computer Weekly, pronounced collection guess was “heavy work” and was typically finished overnight when a bucket on bank computers was lower.

What competence have held RBS out, he pronounced was a perfect scale of a operation.

“From what we hear, maybe for as many as 3 nights in a row, nothing of those exchange were scrupulously processed,” he said.

This constructed a outrageous reserve of day-to-day mechanism work that had to be finished after than common and led to payments being delayed.

The bank pronounced many of a reserve of exchange had been privileged overnight withdrawal reduction than 1% unresolved.

It pronounced usually “a few specific sets of transactions” were outstanding.

“It is probable a tiny series of business might knowledge delays as we lapse to a totally normal service,” a bank said.

“The full concentration of a efforts will now be on delivering a same outcome for a Ulster Bank business who continue to knowledge unsuitable delays to their accounts being updated.”

To cope with a additional workload, RBS is opening 1,200 of a categorical branches progressing than common this week and shutting them later.

Despite a swell of a bank in clearing a backlog, some-more bank business have complained to a BBC about a intrusion they have suffered.

Michele from Broadstairs, said: “I bank with Barclays though since my employers use RBS my check was not paid into my comment on Friday.”

“It is now Tuesday and I’m still watchful for my income to be transferred, my lease has not been paid and other bills.

“We went into Barclays to see if they could assistance us though they pronounced as it was not their blunder they couldn’t,” she said.

Jonathan Hulton

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Jonathan Hulton says directors are profitable staff from their personal accounts.

Alan from Carlisle said: “I can’t be a usually licentiate whose weekly DSS BACS remuneration to a building multitude comment has unsuccessful to arrive.”

Helen from Bedford said: “We were positive a payments would be finished by Monday, afterwards currently (Tuesday) nonetheless currently we accept a content observant it won’t be currently though no serve information on when it will be.

“Plus a remuneration that should have left in currently hasn’t appeared,” she added.

Despite a problems, some readers have praised a assistance given by RBS and NatWest staff.

Noel from Hungerford said: “I would like to send my appreciation of all those members of NatWest frontline staff who have been operative prolonged hours underneath vigour by no error of their possess – they merit a thanks.”

Renu from Reading said: “Accounts are looking adult to date. Staff have been excellent.”

Major challenge

Earlier, David Cresswell of a Financial Ombudsman Service pronounced a knock-on effects would take longer to brand and rectify.

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Customers’ rights

Customer walks past Natwest

  • Anyone out of slot overdue to a technical or systems disaster has certain rights
  • Banks should put business behind into a position they were in had a problem not occurred
  • That does not meant additional remuneration is a right
  • Anyone influenced should let a bank know about their conditions as shortly as possible
  • Customers should check to see if any payments due from an comment have bounced
  • They should also keep a record of how a problem has influenced them – only in box a grave censure is compulsory later

Source: Financial Ombudsman Service

“It is unequivocally critical to start creation a note of what is function to you, of conversations we have with people, of problems we are facing, or knock-on effects, since this is a sputter outcome from a strange problems,” he said.

“What we need to do is make a transparent list of how we have been affected, so we can go behind to your bank and say: ‘This is a finish picture, how can we help?'”

The arrange of problems RBS is awaiting to understanding with are additional charges for inadvertently going overdrawn or profitable a credit label check late, and creation certain that a customer’s credit rating is not damaged.

James Jones of credit rating group Experian pronounced traffic with a problems, generally for business of other banks, would be a challenge, as they would not be means to tell if a missed remuneration was due to RBS’s mechanism problems.

“We get information in from so many organisations, each notation of each day, that we don’t routinely examination a data,” he said.

Neil Munroe, executive executive of a Equifax credit rating agency, said: “We are reliant unequivocally many on a information being granted by a organisations themselves; maybe as a outcome of this practice we will get a lot some-more disputes entrance by about those missed payments.”

Choice for customers

RBS is formulation to liaise with other banks so that their business who were affected, for instance by not receiving a remuneration from a NatWest account, are also not left out of pocket.

The bank has declined so distant to guess how many business have been affected, how many have complained, or how many have used a write helpline.

But an RBS mouthpiece stressed that they wanted influenced business to come brazen so problems could be resolved.

“We are charity a business a choice: face-to-face during any branch, over a phone or around postform on a website,” she said.

The bank will repay business for a cost of job a 0845 helpline number.

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