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

[PaddyJoe]

I noticed logging into AIB online banking this afternoon that there has been a 'seismic shift'
There a new tab which is called 'balance available' and another called 'pending payments'.
It looks like direct debits which have not gone out are displayed in the 'pending payments' tab and that the 'real' balance in one's account is displayed in the 'balance available' tab.
Haven't had a chance to have a good look at it yet but online banking displaying incorrect balances has been a pain in the ass for years.
Wonder if the Ulster bank situation has pushed them into it?

[Sam Lord]

I'm told that in Belfast the ATMs are dispensing cash on Ulster bank accounts without debiting the account. People are going from machine to machine withdrawing whatever they have in their account ... over and over again.

[fluffybiscuits]

I'm told that in Belfast the ATMs are dispensing cash on Ulster bank accounts without debiting the account. People are going from machine to machine withdrawing whatever they have in their account ... over and over again.

That will cause them to be in over draft and penalties incurred...

[Sam Lord]

That will cause them to be in over draft and penalties incurred...

I guess. And I'm told people appear to know that but believe they will end up paying it back at a pound a week from their dole. Which should take several lifetimes.

I don't know any of this for fact I should stress.

[C. Flower]

I guess. And I'm told people appear to know that but believe they will end up paying it back at a pound from their dole. Which should take several lifetimes.

I don't know any of this for fact I should stress.

A first class rumour, just the same.

[Baron von Biffo]

Still no end in sight for those affected by the bungling at Ulster Bank.

http://www.rte.ie/news/2012/0702/uls...ersisting.html

We await the resignation (without lump sum or pensions) of the CEO and head of IT at the bank to demonstrate the superior standards of accountability in the private sector.

[Sam Lord]

It is being said that there is no way these problems could have been caused by a software patch. Speculation is that they were hacked in a significant way.

[riposte]

A first class rumour, just the same.

I love it!

[PaddyJoe]

Conspiracy theory time. Maybe the UK management isn't that keen on keeping Ulster going in the first place. Doubt if there's a lot of money to be made in banking in Ireland over the next few years.
So fix RBS and Nat West as quick as possible but don't worry about Ulster too much as we're going to run it down anyway.

[PaddyJoe]

And it drags on for another month:

Most of Ulster Bank’s customers can expect to see service levels back to normal the week beginning 16 July, the bank has said today.

Note the get out clause "Most of Ulster Bank's customers..."

Meanwhile:

Representatives of the Central Bank, including the Director of Consumer Protection Bernard Sheridan, are to appear before the Oireachtas Finance Committee today, and tomorrow, Ulster Bank’s management is due to appear before the committee to answer questions about the fiasco.

http://www.siliconrepublic.com/busin...some-two-more/

[Baron von Biffo]

And it drags on for another month:
Note the get out clause "Most of Ulster Bank's customers..."

Meanwhile:
http://www.siliconrepublic.com/busin...some-two-more/

If a customer ran up an unauthorised overdraft the bank would apply punitive interest rates so perhaps those rates should be paid by the bank for all funds delayed because of their utter incompetence.

[Dr. FIVE]

At committee now

http://agenda.ie/tv/room4/

[Baron von Biffo]

Michael McGrath FF making a long rambling speech that contains loads of questions. A pretty good way to ensure there's no chance of hearing anything the bankers don't want to tell him.

[PaddyJoe]

CB says that transaction processing is by RBS and is not handled locally by Ulster
There was insufficient knowledge of this process in UB and there were weaknesses in contingency planning and backup provisioning in the bank when it went wrong.
In other words they hadn't a clue what to do.

[Spectabilis]

Sheridan, director of Consumer Protection at the Central Bank assures Committee that there will be no 'black mark' against any customer. Well, that's mighty white of him. What about a black mark against RBS/Ulster?

My pension hasn't arrived, mortgage payment next week which their FAQ page says will be paid. I have taken a screencapture of said FAQ since my trust in banks is now almost zero. They say the technical problem will be sorted but they have a legacy problem.

I haven't resorted to this solution yet for instant access to funds, but it is looking better: