Thursday 22 February 2018

Banks must account for glitch

Yesterday, up to 100,000 customers of Ulster Bank on both sides of the Border, and many times that number of customers at its UK parent bank RBS, found their accounts suddenly "frozen", leaving them unable to carry out transactions online or check their balances at their branches.

In an age when most of us do at least some of our banking electronically, an IT glitch such as that experienced by RBS can have extremely serious consequences for its customers.

Payments aren't made into customers' accounts and they in turn are unable to make payments to other accounts.

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