RBS group including Ulster Bank hit with major 'technical' issues

[Baron von Biffo]

RTE reporting that UB branches will remain open until 6.00 tomorrow to help victims of its incompetence. A whole hour for people to leave work and get to the branch to see how much of their own money they'll be allowed to withdraw. Wow!

[C. Flower]

RTE reporting that UB branches will remain open until 6.00 tomorrow to help victims of its incompetence. A whole hour for people to leave work and get to the branch to see how much of their own money they'll be allowed to withdraw. Wow!

Would those fortunate enough to be public sector workers not be able use their cheque-banking time allowance for this ?

[fluffybiscuits]

Would those fortunate enough to be public sector workers not be able use their cheque-banking time allowance for this ?

They got rid of that recently but I would have loved to have had it

[disability student]

Heard rumour re their financial troubles... any truth in this?

[yehbut_nobut]

All I know is, I'm rather glad I took this action last August.

politicalworld.org - Good riddance, Ulsterbank

summary...

I've just found them to be very sloppy, with far too many mistakes made, and no one willing or available to take responsibility.

Phew!

[Baron von Biffo]

Would those fortunate enough to be public sector workers not be able use their cheque-banking time allowance for this ?

If memory serves that only covered a few hundred staff by the time it started giving palpitations to the PS bashers and it's been ended for them some time ago.

[C. Flower]

If memory serves that only covered a few hundred staff by the time it started giving palpitations to the PS bashers and it's been ended for them some time ago.

I knew I could count on you to clear that up.

There were some quaint old customs in the early days of the Republic's public services.

[Baron von Biffo]

I knew I could count on you to clear that up.

There were some quaint old customs in the early days of the Republic's public services.

It's very to be dismissive of such arrangements in these days of electronic banking but the difficulties caused the UB balls-up should give some hint as to what things would be like for workers who couldn't get their hands on their cash at the end of the week.

There would have been clear benefits to the state in the areas of administration, logistics and security in moving from cash to cheques for its tens of thousands of staff.

For workers the benefits were not so immediately obvious but the inconvenience was clear. How would someone working 9.00 to 5.00 cash their pay-cheque at a bank that only deigned to open its doors between 10.00 and 3.00 (closed for lunch)?

Giving staff a short time to cash their cheques during work hours was a sensible way or resolving the issue.

[Baron von Biffo]

UB says it will need the rest of the week to clear up its mess. Formatting the floppy disks is taking longer than first anticipated.

http://www.breakingnews.ie/ireland/u...ar-556591.html

[Baron von Biffo]

Latest guess at when the mess will be fixed is next Monday.

http://www.breakingnews.ie/ireland/u...ia-556978.html

Has the head of IT resigned yet?

Have there been calls for his/her pension to be seized?

[PaddyJoe]

Latest guess at when the mess will be fixed is next Monday.

http://www.breakingnews.ie/ireland/u...ia-556978.html

Has the head of IT resigned yet?

Have there been calls for his/her pension to be seized?

Not any more. Middle of next week, according to RTE Six One.

[rebellin]

Inter Alpha Pile-Up Continues – Now Allied Irish Bank

FRESH fears have emerged over the safety of bank computer systems after two more banks experienced technical breakdowns.

National Irish Bank and AIB both experienced worrying — if minor — system breakdowns in the past week. And the Central Bank revealed last night that it was now to demand details from all the retail banks on their contingency plans when their IT systems collapse. The latest problems emerged as Ulster Bank continued to battle to fix its IT problems, which entered its eighth day.

Ulster Bank and NaWest , the first banks to report "problems" are not only subsidiaries of The Royal Bank of Scotland, but RSB is a major pillar of the powerful Inter Alpha Group of Banks

Banking and computer experts said last night that other banks were vulnerable to similar collapses. National Irish Bank confirmed that it had a technical problem yesterday that prevented its customers accessing cash. And AIB has admitted that a technical glitch meant its systems were down for a number of hours between Thursday night and Friday morning. And professor of banking at the UCD Quinn School of Business, Eamonn Walsh, said major computer breakdowns had occurred in banks recently in Australia, Japan, Singapore and South Korea.

These events are but symptomatic of the systemic breakdown of the entire Trans-Atlantic financial system. If we want to salvage our commercial banking sector we must put the lot of them through bankruptcy reorganization, separating out the honest debt, which will be honoured, from the speculative derivatives debt, which will be written off. The mechanism to do this is Glass Steagall.

A Pecora Commission part II would round off the process nicely, giving those drunk drivers who caused the carnage a spell in rehab where they can cool their heels and reassess their value to society.

.Read the article at http://laroucheirishbrigade.wordpres...ed-irish-bank/ where you can find other articles on Inter Alpha Banks as well

[rebellin]

Inter Alpha Pile-Up Continues – Now Allied Irish Bank!

FRESH fears have emerged over the safety of bank computer systems after two more banks experienced technical breakdowns.

National Irish Bank and AIB both experienced worrying — if minor — system breakdowns in the past week. And the Central Bank revealed last night that it was now to demand details from all the retail banks on their contingency plans when their IT systems collapse. The latest problems emerged as Ulster Bank continued to battle to fix its IT problems, which entered its eighth day.

Banking and computer experts said last night that other banks were vulnerable to similar collapses. National Irish Bank confirmed that it had a technical problem yesterday that prevented its customers accessing cash. And AIB has admitted that a technical glitch meant its systems were down for a number of hours between Thursday night and Friday morning. And professor of banking at the UCD Quinn School of Business, Eamonn Walsh, said major computer breakdowns had occurred in banks recently in Australia, Japan, Singapore and South Korea.


These events are but symptomatic of the systemic breakdown of the entire Trans-Atlantic financial system. If we want to salvage our commercial banking sector we must put the lot of them through bankruptcy reorganization, separating out the honest debt, which will be honoured, from the speculative derivatives debt, which will be written off. The mechanism to do this is Glass Steagall.

A Pecora Commission (mark II) would round off the process nicely, giving those drunk drivers who caused the carnage a spell in rehab where they can cool their heels and reassess their value to society.

[Baron von Biffo]

60k people on welfare won't get their money for the second week in a row because of the UB foul-up.

http://www.irishexaminer.com/ireland...ch-198976.html

[Baron von Biffo]

http://www.irishexaminer.com/ireland...us-199289.html

If he was a civil servant We would have had acres of newsprint telling us where he bought his lunch by this stage.