Millions of Bank Customers Unable to Access Funds In Europe

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Top Tier Gear USA

A minor “glitch” or a sign of things to come?

Branches of Royal Bank of Scotland will open on a Sunday for the first time this weekend as RBS Group struggles to deal with the aftermath of technical problems that have affected up to 12 million customers.

The taxpayer-owned group took the unprecedented step of extending the hours of more than 1,000 RBS and NatWest branches that normally open on a Saturday to 6pm, and opening them again tomorrow morning, as it faces an angry backlash from people unable to access accounts, withdraw wages or pay bills and mortgage payments.

Some customers said their home purchases or holiday plans had been plunged into chaos by the glitches, while others vowed to switch banking provider. Fears have been raised that thousands could be hit with penalty charges if their regular bill payments, such as for their mortgage, are affected. Consumer groups called on the banking behemoth to provide “appropriate compensation” to those customers who suffer as a consequence of the “failure”.

The difficulties, which have hit NatWest, RBS and Ulster Bank users, are entering their fifth day. RBS said the backlog had been caused by a “system outage” on Tuesday, and that it was “working around the clock” to resolve it.

It appears the difficulties have hit hardest at NatWest, which has more than 7.5m personal banking customers. RBS Group said it could not tell how many had been affected as it was not possible to know when they were expecting payments into their accounts.

However, the problem is not confined to RBS account holders. Some non-customers are suffering as their employers use the group, and have not received their salary payments. Customers of RBS Group’s banking transaction services include the Government Banking Service, which looks after the balances of hundreds of public sector organisations, from government departments through to executive agencies.

Customers have reported a plethora of problems. Account balances have not been updated properly, meaning credit and debit payments are not showing up as quickly as they should, although RBS said the money was “in the system”.

Via: The Scotsman

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  • kynase

    Are we 2, maybe 3 months from this? It starts as bake runs. Unlike many countries, lots of Americans are greedy and self-centered. I fear what will happen the day that all hell breaks loose…how many innocent people will become victims, will become predators, will become lost? As the stocks continue to plunge in this volatile economic environment, I will hug my children and tend to my garden praying for an outcome that doesn’t destroy the moral and ethical fabric of our once great nation.

    • Just Me

      @kynase, I don’t want to sound like Deputy Downer, but I think the “Moral and ethical fabric” of our country is already severely ripped!!

    • Hank

      @kynase, Hugging your children and gardening is not going to solve the problem. Good people must become informed and take action against the globalists. This includes the POTUS and congress. Obama has been trying his best to start WW3. Why wont the Pentagon act?!?!?

      • kynase

        @Hank, Well, there in lies part of the problem. How does one take action in an effective manner that appeals to the powers that be, that makes them take notice? I don’t know if I could support the notion that Obama is attempting to start WW3. Do I think he is a puppet orchestrated by manipulative and creative puppeteers? Yes, but WW3? Probably not. Internal meltdown of the economic infrastructure to level the playing field and create a Marxist sort of society? Probably more like that. I could be wrong.

        But to say “take action against the globalists” is like me saying we should do something about these taxes. Do you suggest we scream out “to arms!” and shake our fists angrily at Capitol Hill, rally a protest that might get some television coverage temporarily, do another Occupy-name-a-town that lacked concrete direction and in the end was highly ineffective?

        I follow the rules and I do my part. I pay my taxes. I give back to my community. I am a bright thread in the fabric of the American public. And part of that includes me hugging my children and metaphorically “gardening”. But I am aware and informed. Which leads me to my question, Hank. How would you suggest that the informed public take action?

  • Drover

    Kynase, I think we’re a ways off from a full blow banking crisis in the US — and when i refer to ‘banking’ I am more concerned with the central bank than anything else.

    I think Europe goes first, but all the money that doesn’t get vaporized heads to the safety of US Treasuries first.

    Then…. the dollar gets pounded and we go nuclear (perhaps literally).

    • Hank

      @Drover, Please get informed. Find out about the Federal Reserve System! Its a scam on the American public. The present crooks (POTUS et al) are trying to destroy this country.

  • Hammerun

    If you want to get your cash close to you and out of the banks, “don’t do this.”
    A few weeks back my wife and I decided it was time to knock down the checking and savings accounts to about a K a piece. We bank with Chase Bank. So I walk in one day and as I’m sitting at this customer service desk I tell this young guy I want to clear my savings down to about a thousand bucks and I want it in cash. This guy looked at me like I was from the moon. Next thing I know there are two other reps and a manager standing there, the manager takes this over. She went to see if there was enough reserve cash in order to do this. She came back in about five minutes and stated there was. As she got on to this I was looking around and seeing a few small conferences looking my way. I was taken back in a booth with an automated bill counter and we fired it up and counted the withdraw. This teller asked me what I did for a living. Whys that I asked? And she leaned a little forward and said ‘The government.” Apparently; not only when you make a deposit in excess of $10,000 your transaction is reported to the Government, in case you are a big time drug dealer, or a money launderer or the like, but if you withdraw in excess $10,000 you will be reported to the Wehrmacht as well, “We have to see your papers”!!!
    So if you have the foresight and want to pull down funds that are in the bank, do it in amounts less than $10K.

    • Great info. I would also think that you wouldn’t want to make a withdrawal over a few thousand as it draws ‘unnecessary attention’ to you unless you have a way of protecting yourself and your cash.

    • Hank

      @Hammerun, Plesae tell everyone about your experience. The government is part of the new world order and this is the kind of control they want. Remember the hassle the lemonade kids got from the pigs last summer trying to be American and enjoy freedom? Well, it seems that being free and American are no longer allowed. Its time the people of this country put an end to this crap and get rid of the fake government.

    • Agmand

      I have worked in several banks’ IT division.
      Your bankster was talking about the “LCR” (Large Currency Report).
      EVERY bank has to transmit the organization’s LCR to the FED by the end of business, each and every individual day.
      It DOESN’T go to the government, it goes to the Federal Reserve …

  • Evie

    Even if the money is there all they have to do is print it up.
    Since more and more people are opting out of debit snd credit just too many pesky fees for your devalued fiat.
    The banks only choice will be,to create glitches in the system, viruses etc.
    After a week or so, all kinds,of insuficent, overdraft fees etc. to benefit both the banks and automatic withdrawals for corporations.
    Both entities feel entitled to your hard earned money for doing nothing.

  • ZombieDawg

    A “glitch” that takes a week to fix (and still isn’t) and that isn’t explained satisfactorily eh…

    It may well turn out to be a bug, but if not, the seriousness should be crystal clear to all – the insolvent banking system is teetering on the edge of the abyss and you’d better get your money out FAST !
    If it is an “outage” then it seems that their systems are fundamentally flawed and dysfunctional as they should have backup and redundancy systems to allow for such eventualities and resolution should take a day or two at most.

  • SKIP

    Anyone ever gone to an ATM and find it “out of order” or some such? Years ago, a friend in the banking industry told me that there is a program running that takes chosen ATMs off line at determined times. Those near malls, bars,restaurants and high usage places are taken offline to dissuade people from taking money out. The premise is that if you can stop drunks from withdrawing $50 or $100 he/she will go home rather than go to another ATM hence a savings for the bank as the money continues to draw interest on the world market for the bank NOT YOU! The plan is like taking 97 of 100 ATMs offline would stop 97 times that 50 to 100 dollars multiplied by the number of cities and towns in America, from being withdrawn and the explanation made proper sense to me.

  • you don’t need to know

    This is on the same premous as prepping. You should have cash on hand… And a side note, if you have $10,000 sitting in the bank and need something to invest in, invest in FOOD. In everything I read, inflation is NOT going away, so stock up if you want to see a profit!!! I can’t even begin to tell you how much money I made last year with all the wheat I have stocked!!!!