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

Hmmm, Something definitely going on.

Twitter too is down worldwide.

Think i'm going to go to cash point & withdraw what i can, if possible.



303

reply to post by SmoKeyHaZe


Fingers crossed it stays fixed. Sky news are reporting that the initial problem is still unresolved and is affecting up to 12.5 million customers as mentioned before though my wifes money is now sorted so hopefully all those that are still affected are back to normal asap.

reply to post by 303inMyBrain


I don't blame you mate. My wife and i have not long got back from town and we have taken out all our money just in case the problem comes back again. Hopefully not.

Phoned my bank today (RBS)
I was told they couldn't help me with anything to do with my account because there's
''A nation wide problem with the computer systems, it's all down''
^^ Direct quote.
My call was even redirected to another branch, who confirmed it.

Internet banking seems okay though, although money has gone into my account, but it doesn't say who put it in, on the online statement. Very odd..

I wonder how much money they've made by holding on to their customers money??

If you pay any bill to a bank the money comes of source immediately and is not applied to the bill for 2 days. There is no excuse whatsovere. If you pay for anything else electronically it is credited immediately.

So here we have banks (with credit card bill payments) from its customers sitting there for 2 days........gaining interest.

Rough numbers : UK credit card debt 70Billion. Monthly interest @ 1.25% 87million. Assuming the average bill pays off the interest and an equivelent capital then monthly bills come to 174million EVERY month. The interest the banks can get on that 174million for 2 days is approx what?, let's assume it invests,lends it at a rate half that it charges its credit card customers soooo 174m * .083% * 12 = 1.74million a year.

THATS WHY ITS DELAYED!

Natwest now posting:

Important Information for our customers – message timed at 21.55 on 21 June 2012
We can confirm that many customers can now view account balance information, however some customers may still be impacted.

We recognise this has caused significant inconvenience for our customers, and we continue to work to resolve these issues and restore a full service.

Staff at our call centres are also ready to answer questions and help where they can.

I can see my balance but have not received the money I should have received today!

reply to post by michael1983l


Get youre money out of there. This may be nothing, but something is going to go down where all power is going down and ATM'S will not work. Banks will not be able to access account information. I dont know when this will happen..but this is the first sign I have seen.

The plan is to make us a cashless society. This is already happening in Sweden and Spain.

Originally posted by michael1983l
The latest from shatwest

We continue to experience technical issues and are doing everything we can to resolve asap. We recognise this has caused significant inconvenience. This is an unacceptable inconvenience for our customers for which we apologise.

www.natwest.com/global/customer-charter/g1/ideas-bank.ashx?path=/embed/ideas-bank/ideas-bank-f337d58a/

no point keeping the branches open if your not crediting balances.

edit on 21-6-2012 by michael1983l because: (no reason given)

Wow! an apology! How kind of them.
That sure is going to help the people whom are getting in trouble for not being able to withdraw any money.
A couple of you gentlemen writing in this thread comes to mind for example....
I wish you all good luck!

Edit. Would be nice if it was enough with an apology from the accountholders, when they are late with payments to the bank.

reply to post by revmoofoo


Thanks for the warning! I am in the US.

You had better be careful, Michael.

Your name is easily found, and if your bosses know you are violating the confidentiality agreement you signed when you went to work for them, you may find yourself without a job, and maybe sued.

It's only a matter of time folks.
TPTB know the economic collapse is coming and there are holes leaking everywhere in they're ship.
This and many other signs are pointing to something huge happening.

All I can say is get ready folks

Early last year I had the (mis)fortune of working with a subsidary bank with ties to RBS and can pretty much rule out any conspiracy here. That said, there is still a small chance I guess but here's why I believe this is simply just a glitch:

RBS use a very antiquated system of distributing balances and transactions between branches and sub-banks (these are usually managed bank accounts which use RBS for holdings) called RoyLine. This system produces a series of very basic comma-separated flat files containing balances for each account and the list of transactions processed from 3:00am the previous working day up to 2:59am the current day.

On more than one occasion, whilst working on the contract, we had issues with a handful of accounts however these were usually rectified quite quickly. Any that could not be fixed were passed over to the indemnity team to chase up with RBS directly. Upon my completion of the contract I was informed that RBS would be switching to a newer system within 12 to 24 months time and were in the process of trialing it with a small number of their banks.

Now, whilst every effort is made to ensure new programming code is peer reviewed, vetted and properly tested it does transpire, once in a while, that an unexpected bug creeps into the system. Sometimes these are relatively straightforward to fix however on rare occasions they can be very subtle and not be noticed until customers start raising red flags. I am a betting man and also a developer so I would put my money firmly on this being nothing more than a bad code release and quite possibly a now Out-Of-Work developer.

ETA: Just before I get lynched, the contract was not directly related to the RoyLine system, or how RBS produce balance/transaction updates across their branches and subsidaries. My sole focus was on processing these files and producing internal reports for the management. So.... not my fault

Originally posted by PrinceDreamer
I am with RBS, I had no trouble logging into my account online, transferring money between accounts or going to the cash point earlier withdrawing some money, all of which I have done today.

From what I can gather this is just affecting money being paid into the account not showing up immediately rather than accounts being frozen.

I don't think it is time to panic yet, although there has been rather a shortage of doom porn recently, so please feel free to panic

I am sure some need their fix lol

Having money not show up in your account IS a way of freezing the account and restricting funds!!!

Money turns over at a very high rate. Most people and small businesses tend to spend as soon as they get their money.

My guess is a few major organizations with large deposits pulled their funds when they heard rumors of the downgrade. This left them with a major cash shortage. I'm not sure how much cash they have to keep on deposit but in the US it's only 10% of the deposits.

BofA also had this type of glitch when they were going through their problems.

reply to post by Furbs


What are you talking about, I do not work for the bank.

Originally posted by michael1983l
reply to post by Furbs

 

What are you talking about, I do not work for the bank.

My apologies, stateside when someone uses the phrase, "I am with" it generally means they work with the following company.

reply to post by Furbs




Oh ok, no by that I mean I am a customer of.

Computer glitch or sign of bigger trouble, this is a reminder to everyone watching that our financial system is a bowling ball balanced on a pinhead. It's not real and it's always in peril. Between the absolute unreality of the digital world and the web of transactions that must flow in order to keep it from crashing down, it's a wonder serious harm isn't done more often because of simple errors. The so called " flash crash" of a few years back comes to mind. This is to say nothing of willful tampering. Never ceases to amaze me how so many people who have lost e-mail to the ether, have had their identity stolen, gotten a computer virus, played a buggy video game, or know how to hack can trust the whole world to zeros and ones on an easy to disrupt power grid.

Cash flow issues in Italy and Greece. Now the U.K. This after the exodus of banking and business leaders earlier this year. One can't tell from this far off if that's smoke or just fog, but it would probably be a good idea to grab a bucket of water and keep your valuables close at hand in case it's the former.

Originally posted by VoidHawk
I wonder how much money they've made by holding on to their customers money??

I am wondering how much money is going to just disappear into thin air. Deposits that never go recorded and such.
And watch them try and charge people late fees and over draft fees for this as well.

Originally posted by michael1983l

Originally posted by revmoofoo
This is really annoying me. My card isn't working (I had to walk a round trip of 2 hours to find that out), funds have failed to appear in my account (online banking just isn't working properly) and my cupboards are bare, but I have no option to wait until they fix this "glitch" as I do not qualify for a cash advance from Natwest.

I've never liked banking with Natwest, but I'm stuck with them for now. *grrr*

Rev

Customers should vote with their feet to Credit Unions or the co-operative bank.

I 'm commenting on two points here:
First..... "my cupboards are bare, but I have no option to wait until they fix this "glitch" as I do not qualify for a cash advance from Natwest."
This is not a good thing. One or two days, no cash, no food and no option?
This statemnt should serve as an eye opener for everyone. Keep at least a modest stock of non-perishables and a stash of cash in your home at all times. Also a few extra gallons of gasoline for your auto or electric generator, some cooking fuel & camp stove, a firearm, ammunition, some basic medical supplies and extra necassary perscription meds. *I live in Florida which means I can claim my preparations are for hurricane season (but I keep it going year round).

Second..... Yes to credit unions and local banking!. Everyone should be doing this. I encourage everyone I know who is sick of the international banks to show their power by taking their money away from the big bank crooks and invest locally!:up
Why people keep giving their money to the very institutions who screwed them so badly via bad loans, mortgages and bailouts is beyond me
these are both basic little steps which will make you feel as if you have, at least, a litle control over your life and keep you from panicing when something unkown, like this bank thing, happens.

Peace, stay informed and stay prepared!