The fiasco still continues today with Ulster Bank.
Most direct debits and lodgments/transfers have been doubled up.
The chairman of Ulster Bank stated he wouldn't accept his 2012 bonus.
The stress, turmoil and financial strain caused by this entire episode should lead to heads rolling and a hefty fine imposed on RBS which should be distributed to It's Customers.
Sadly in the pecking order the Island of Ireland are last to have the issue addressed, one that's far from resolved.
You have my sympathies Paddy, how long has this been going on now?
I think it is now the third week.
Rob,
makes you wonder just how well RBS has integrated the computer systems of it's acquisitions, e.g. Natwest and Ulster Bank, over the years
Looking like the SFO is going to investigate the latest LIBOR 'snafu' by the banks.
Fingers crossed they will all still be able to pay their bonuses. It is hard to see how they will ever sort themselves out if all the top talent leaves because they don't get the bonus they deserve.
Thank you for your continued patience
Many customers should continue to see an improved position on their accounts today, with account transactions continuing to update. The week commencing 9 July will be the final week of any significant delays for our customers. There will be gradual, but significant and noticeable improvements throughout the remainder of this week and next. We expect that by the week of the 16 July the vast majority of customers will return to a normal service. There may be some final reconciliations required to customers' accounts. We will provide updates daily on our progress.
You can find out more by reading the latest media statement from RBS Group and Jim Brown's Letter to Customers.
We know this disruption to our customers is unacceptable and we're committed to doing all we can to help as many of our customers as possible.
We will continue to extend opening hours in 51 of our branches from am to 7pm on Monday 9 July and Tuesday 10 July. Arrangements for the remainder of the week will be confirmed on Monday.
To help us facilitate your requests, please bring photographic identification and your account details (account number and sort code). Please bring your payslip if the balance does not reflect any salary payments.
We have also doubled the number of staff available in our call centres. Our dedicated help desk which is open 8am to 10pm to take your call on 1800 xxx xxxx If you are calling from abroad please call +353 xxxxxxxxxx
We confirm that no customer will be permanently out of pocket and there should be no adverse impact on customers' credit ratings as a result of this incident.
We will continue to post daily updates here.
Not everyone has access to the internet, and a significant number of OAP and Welfare payments have been affected.
My AVC Pension transfers have also been affected and I've received a letter on Friday from my pension provider about a failed payment.
Whilst I'm fortunate not to bank with Ulster and RBS this highlights that we've all been affected.
I've already :small-print: wrote to Ulster Bank and forwarded it on to the Financial Regulator.
Like many Banks, seems like NatWest (RBS) are like moths drawn to a light, in respect of can't keep out of the media for all the wrong reasons.
This time it seems more difficulties with with debit card payments being turned down and online banking not working properly, subsequential confirmed to the media by a NatWest spokeperson.
Meanwhile 704,426 Nationwide account holders have seen money taken from their accounts twice, once on Tuesday 24 July and for some reason Nationwide advise these were processed again on Wednesday night.
All the above, on the day that Lloyds Banking Group has posted a half-year loss of £439m and has increased provision for payment protection insurance (PPI) claims by a further £700m, which takes the total from an original to
Additionally Lloyds Banking Group advised "Certain members of the group have received subpoenas and requests for information from certain government agencies and are co-operating with their investigations".
And also that "In addition, certain members of the group have been named as defendants in private lawsuits, including purported class action suits in the US with regard to the setting of Libor."
Royal Bank of Scotland (RBS) has put aside £125m to pay compensation to customers at RBS, plus NatWest and Ulster Bank subsidiaries, affected by the recent breakdown in its computer systems.
Though clarification would be nice to other people banking elsewhere impacted by missed salary and other payments due from RBS, NatWest and Ulster Bank accounts.
Is it too cynical to point out this good news story from them alongside their announcement that
:arrow: revenues for the six months to 30 June fell 8%
:arrow: half-year loss of (compared with £794m a year earlier)
:arrow: an accounting charge of £3bn after it had to change the valuation of its debt
:arrow: £50m to cover claims from small businesses who were mis-sold interest rate swaps
:arrow: dismissal a number of traders linked to the Libor rate-fixing (Barclays size fines due ?)
:arrow: set aside a further £135m to cover compensation for customers who were mis-sold payment protection insurance, taking the total up to
Looks like they have done it again.
i use to have rbs as my bank for my business.
then after the last computer cock up i walked in and transferred my business to another bank.
thats how you treat rbs. you leave.
Natwest took over a week to find my missing salary credit last year and I have transferred my account to someone else.
It wasn't so much that they had a problem, it was more how they dealt with it ie. useless and rude staff that claimed the problems had been resolved when they hadn't and a paltry offer of £20 in compensation.
I'd never bank with them again, but I'm sure pretty much any bank these days could have a similar problem.
Rob,
at long last the computer problems that affected RBS customers last summer are to be investigated by the Financial Conduct Authority (FCA, which has taken over investigative duties from the Financial Services Authority).
The investigation is the first stage of a process that could lead to an unlimited fine if the regulator finds evidence of wrongdoing. It will cover the RBS Group - including NatWest and Ulster Bank.
Granted the March 2013 problems with online and phone banking, cash withdrawals and debit card payments at the RBS Group banks, and left it with an additional compensation bill is not thought to be part of the FCA investigation.
:sad:
. Much muttering as to how the 'Barrow Boy' culture can be corrected, seems to me, a criminal fraud investigation and sending some people to prison might be a start.
