Natwest/Royal Bank of Scotland Have Not Been Processing Payments for 48 Hours Now

I have now read at zerohedge that RBS is allowing an overdraft of $100 without charge to the customer. Is this just a glitch where money is going in and out and but it's just not updating people's balances? I understand some people would pissed but does the bank really need to pay people that fail to keep track of their own balances? I'm sure a bunch of scam-artist are trying to figure out how to use this to their advantage. If you get a direct deposit of $300 but it doesn't show but the bank says it's okay it's in there, all one needs to do is grab a pencil and paper and keep track of what you have and what you spend.

Originally posted by Daughter2
Wow, what BS you are spreading.

Software issues aren't hard to fix! Software should work the same from day to day. Software doesn't break. People in IT are smart enough to run the old system along side the new system when new systems are put into place. Glitches sometimes do happen but they can be identified and fixed pretty fast.

Work in IT then? I work in comms, but same sort of thing. Preventative maintainence is an old school idea, it costs money, so is usually put on a back burner. Couple that with a bad patch, or some other planned outage and you can create a perfect storm where "simple" things, as you put them, are not easy to fix. It's a bit rich of you to say I am "spreading BS", when I see this sort of thing every freaking day. Specially when you're talking about something as complex as a Banks IT infrastructure.

For example, Tesco have a huge and robust service from my company to provide them with all their comms and IT. It has resiliency built in and even that has resiliency. We still lose Tesco depots, cut off stores, prevent transactions etc because all it takes is two or more "resiliency" faults to occur in the right place at the right time, then it all goes "pop"... The BBC have been cut off before, despite having a "resilient" system, the National Grid too.. I can list companies for hours where a supposedly resilient system collapses because of something innocuous.

Originally posted by Daughter2
Since 2001 and even more so since 9/11, these types of problems are taken very seriously and are planned for by companies. Auditors can in once a year and if there aren't adequate backup systems and plans, top management will be notified.

And top management will look and decide it's too expensive, drag their feet about getting stuff in place etc. It's ironic that you say I am spreading BS, when you seem to live in cloud cookoo land when it comes to things like this.

Originally posted by Daughter2
The software problem is the software can't create cash.

I'm just repeating what they have said. A software upgrade went tits, which caused the whole thing to collapse. Quite believable actually, I see it a lot. Obviously though, you know much more about these sort of things and have never presided over a system or network that has fallen on it's arse. Kudos to you

I might be the alarmist but I always run on the side of caution. If I was a major bank and I became insolvent, I to would blame it on “system glitch” problems. Really, you can’t fix the problem and it’s been what, 4 days now!

To be on the safe side, if I was in your shoes, I would halt direct deposits and ask for “live” checks from my employer. You could always switch back when the problem is resolved. I would also start taking out my rations of cash from the tellers each day. Hit multiple banks if you have to. A test would be to withdraw cash from one branch and hit another, if the teller tells you that you have already hit your rations for the day then you know the “system glitch” is a farce. Obviously the “system” is communicating with other branches and knows you have hit your limit for the day. At that point I would start to worry.

Good luck over there on the other side of the pond

reply to post by camaro68ss


Even if the Bank had no money (which would be obvious from the Markets and other sources), the Government protects all deposits up to £100K, so most people would be safe even if the Bank collapsed tomorrow.

I know this is a "conspiracy site", but the motto is deny ignorance too, which means we shouldn't simply believe something is a conspiracy just because. As I have said myself, HSBC, the most solvent and profitable bank in the UK, had a similiar issue last year. All resolved without much fuss.

Also, bear in mind that the UK Government owns the bulk of RBS Group, so it would never be allowed to get "insolvent" in the first place as it would be political suicide.

Originally posted by stumason
reply to post by camaro68ss

 

Even if the Bank had no money (which would be obvious from the Markets and other sources), the Government protects all deposits up to £100K, so most people would be safe even if the Bank collapsed tomorrow.

I know this is a "conspiracy site", but the motto is deny ignorance too, which means we shouldn't simply believe something is a conspiracy just because. As I have said myself, HSBC, the most solvent and profitable bank in the UK, had a similiar issue last year. All resolved without much fuss.

Also, bear in mind that the UK Government owns the bulk of RBS Group, so it would never be allowed to get "insolvent" in the first place as it would be political suicide.

Same here in the USA, we are backed by government deposit insurance of 100k-200k, depending on what bank. The problem is your insured "CASH" not wealth. If the banks did go under, the goverments would have no means to cover those deposits other then to "print cash" this will create overnight inflation in the double digits making your cash worthless.

I dont know what the status is of your goverment insurance but over here the FDIC is broke, if only one large bank failed, the FED's would have to cover the FDIC, Goverment deposit insurance, and print money, creating over night of inflation up to 25%! That newly printed money will flow into the streets over night and into checking accounts. Not a happy thought there.

Originally posted by camaro68ss

Originally posted by stumason
reply to post by camaro68ss

 

Even if the Bank had no money (which would be obvious from the Markets and other sources), the Government protects all deposits up to £100K, so most people would be safe even if the Bank collapsed tomorrow.

I know this is a "conspiracy site", but the motto is deny ignorance too, which means we shouldn't simply believe something is a conspiracy just because. As I have said myself, HSBC, the most solvent and profitable bank in the UK, had a similiar issue last year. All resolved without much fuss.

Also, bear in mind that the UK Government owns the bulk of RBS Group, so it would never be allowed to get "insolvent" in the first place as it would be political suicide.

Same here in the USA, we are backed by government deposit insurance of 100k-200k, depending on what bank. The problem is your insured "CASH" not wealth. If the banks did go under, the goverments would have no means to cover those deposits other then to "print cash" this will create overnight inflation in the double digits making your cash worthless.

I dont know what the status is of your goverment insurance but over here the FDIC is broke, if only one large bank failed, the FED's would have to cover the FDIC, Goverment deposit insurance, and print money, creating over night of inflation up to 25%! That newly printed money will flow into the streets over night and into checking accounts. Not a happy thought there.

Hence the reason why I said what I did here....
www.abovetopsecret.com...

Add to it the fact that indeed the Government does 'own' this bank....reminds me of an episode of Spooks where a payment was due from our government for a 'loan repayment'....hmmmmm.....

Rainbows
Jane

Originally posted by combatfoo2000
happens all the time, to banks and businesses , .

...Madoff, Robert Maxwell, Charles Ponzi...collapsing scams are a big feature of any deep depression.

Just a heads up. My Child Benefit should have hit my account today....it's not there...and this is at Barclays...hmmmm......

Rainbows
Jane

reply to post by angelchemuel


Does HMRC or the Government department concerned use RBS or Natwest?

I have a funny feeling they do.... Trying to find out..

reply to post by angelchemuel

My daughter and I are with Barclays. So far, I've had no problems but in the past 8 weeks, she's had several problems using ATMs and paying for goods using her Debit card. She's on her third replacement card and this morning, the ATM declined this one too. She's just started a new job and needs her final Jobseeker's Allowance to see her through to pay day - what a nightmare.
Another couple of strange things that happened this morning. The tills had 'all gone down' in Morrisons early this morning and supervisors were processing card transactions manually. Just after this, I went into the Post Office and heard the assistant tell a customer to keep trying her card in the machine because the machine was 'playing up' at the moment.
Too many coincidences?

reply to post by littlemo


Erm, only because I happen to know a thing or two, but can I ask where this Morrisons is and what time? Same with the Post Office...

It might have been my fault that one....

reply to post by stumason


Both between 8.30 and 9.00 this morning, in Totnes. You had a hand in it? Surely not.......

reply to post by stumason


Like I said in the other thread - I answered you and you suddenly disappeared?

reply to post by littlemo


Tones...

Hmm, not so sure it was me/us...

I reset a card on DWDM system earlier that was carrying a few large circuits Morrisons use exactly for such things like processing card payments.. Would have thought it would have affected the Norfolk region though, but who's to say as the lower order circuits within my 2.5Gb might route anywhere..

I've also checked with my IPD colleagues and theyn too confirm that there are more than a few faults out with Morrisons at the moment.

reply to post by stumason


Ah thanks for the info. The town is TOTNES - you spelled it TONES - Don't know if that would have made a difference to your conclusion though.
Thanks anyway. I guess this is not conspiracy fodder after all............

reply to post by littlemo


Sorry, typo..

I know Totnes well, my family are from Devon and Cornwall

The flawed computer programme that led to a week of chaos for millions of RBS customers was being supervised by an IT support team in India, it was revealed last night.

RBS has been swift to deny that its controversial job out-sourcing programme has been responsible for the fiasco. It merely says that the ‘software error occurred on a UK-based piece of software’ but has declined to say where the staff overseeing the software are based. It is a fact that the vast computer servers are based in Britain. But insiders confirmed last night that many of their support team are based in India.

Last night insiders said problems began on Tuesday night when CA-7 was updated. On a normal evening, this should allow all the cashpoint withdrawals, salary transfers and direct debits to be updated. The nightly update is the reason why internet banking transactions made by so many customers are not updated if they are made after a certain time of the day. But what appears to have happened is that crucial files were DELETED. The error was spotted but – incredibly – was repeated on Wednesday and again on Thursday.

Since being rescued by the taxpayer RBS has shed about 30,000 jobs, including more than 20,000 UK-based roles, and has outsourced work abroad.

www.dailymail.co.uk...

Originally posted by angelchemuel
Just a heads up. My Child Benefit should have hit my account today....it's not there...and this is at Barclays...hmmmm......

Rainbows
Jane

After the tax credits failed to materialise, or rather did and then promptly disappeared again on Friday, I don't expect CB to either or OH's wages tomorrow. That's a fair amount floating around in the ether if this carries on till next weekend.

I'm trying to be patient, push come to shove OH's boss will give us a sub and we are a few weeks in front with the rent I think. My boy needs money to pay for his Cadet camps though and I don't want to let him down more than anything. Telly license and council tax still needs paying this week though.

Thank feck for my Doom larder this week, if any of you run short of teabags Iet me know. For some reason my mum still has them delivered even though she doesn't drink tea anymore and chucks them my way. I think I've got enough tea bags to furnish everyone north of the Watford gap for about three months.

reply to post by Suspiria


HAHAHAHAHA!

Indians... Very good at doing exactly what the script tells them to do, whether it is right or wrong they don't care, they will do it and keep doing it. We have tried some outsourcing to India and have pulled most of it back, except the 1st line and provisioning stuff.

We dare not let them touch our Core network because they cannot handle it. We're talking well "qualified" people, they have degrees and such, but they parrot everything they are told without understanding it.

Another problem with Indian outsourcing is their constant need to have conference calls. Whenever they fudge up, which is often, they convene a conference call of dozens, all talk at the same time, eventually reach a consensus (whether right or wrong) then if it does go tits, no one is to blame because no one really knows who suggested what...

Can't help wondering if this has anything to do with something which happened last December. I was called in to see the bank manager who explained that I needed to move most of my money into a seperate account for " Security reasons " he said that there had been a lot of trouble with peoples accounts being compromised and in order to keep myself safe, that I needed to do it immediatly. I of course thought that he knew something which I didn't, so I took his advice, and only left a bare minimum in the account to allow for direct debits etc. Looking back on it now, I wonder if this was for my benefit, or theirs !