This video can not be played To play this video you need to enable JavaScript in your browser. Use online banking facilities to access their accounts. Obtain accurate account balances from ATMs. Make timely mortgage payments. Access cash in foreign countries. RBS fines and bail-outs: a look back in time. This should not have happened. Initially, there were claims the problem occurred when the bank's computer software was updated.
A spokesperson for the banking group said the problem occurred when existing software failed to carry out overnight transfers of money between accounts.
An update on the RBS website stated: "The main problem customers are having is that where people have had money go into their accounts overnight, there may be a delay in it showing up on their balance.
The banking group will also work with credit agencies to make sure that no one's credit score is adversely affected by the outages.
Although the computer glitch was fixed last Friday, there is still a backlog of payments for the banks to get through. Susan Allen, director of customer services for RBS Group, confirmed yesterday that "we are making progress to clear the backlog of payments and I'm cautiously optimistic that RBS and NatWest customer account balances will be largely back to normal from tomorrow.
We will publish further details on how we will ensure this later in the week," she added. Some of our focus was on the new things people want," Hester said last week. The other UK-based banks involved in the Libor manipulation scandal are yet to make any provision to cover the cost of potential fines, and Hester has already made clear that the bank is braced for a fine but that he does not yet know the size.
RBS is among four banks to have reached an agreement with the Financial Services Authority over interest rate swap mis-selling, but has not yet quantified the cost of any compensation for customers. This article is more than 9 years old.
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