Tuesday 24 January 2017

Banks are still grappling with the switch to electronic payments

Published 29/08/2014 | 02:30

Yesterday's technical difficulties with Bank Of Ireland's IT systems, which left thousands of people waiting for their wages to appear in their bank accounts, were relatively minor
Yesterday's technical difficulties with Bank Of Ireland's IT systems, which left thousands of people waiting for their wages to appear in their bank accounts, were relatively minor

It is becoming a common irritant: will our wages actually be paid into our account on time? And if not, what's the latest 'glitch' excuse invariably being trotted out by one of the banks?

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Yesterday's technical difficulties with Bank Of Ireland's IT systems, which left thousands of people waiting for their wages to appear in their bank accounts, were relatively minor. No money was lost and the inconvenience lasted just a couple of hours. But banks are increasingly falling prey to IT glitches of all sorts: this is the second time in a month that this has happened to Bank Of Ireland.

Why are banks' systems breaking down so much more frequently?

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