Natwest Technical Issues

Debt_Free_Chick

jackieb wrote: »

We don't receive any credits either, but we're still missing our pay and a standing order which was taken early out of one account and not placed in another, leaving us withdrawn.

They took it out of one of our accounts and haven't put it in the other. It's out there somewhere, but where?!

It's in one of the files that they've not yet loaded on to the system, due to the problems they've had. It'll show up ..... eventually, I'm sure.

BTW - by "credit" in to your account, your pay will be a credit. That's also on a file waiting to be loaded.

AIUI the technical issues relate to the loading (or batch processing) of a number of different data files. There's a piece of software (CA7) which controls the loading of files in the right order and it was a CA7 upgrade that fell over last week. This is why things which have happened like credits are not appearing in accounts - the process which loads that data in to the system is bu88ered.

In addition, what you see on online banking is not what's on the main accounts system. So although you may have "seen" the transfer from one account to the other online, what happens is that the transfer is first debited to the old account and then the credit has be processed to the new account - it's not showing up as the credit data file hasn't be posted to the main accounts system yet.

Hope it completes soon.

paul_h

johnsons_baby wrote: »

I can now categorically state I am going to shift banks after the fiasco I've had to endure in a Natwest Branch.

I'm not surprised after that. I'm giving it some serious thought too, as are a few more I would think.

Cell

emweaver wrote: »

That is nonsense they can not simply just print more money if they could the country would not be in so much debt!

It is not nonsense. It is absolutely true.

That's exactly what QE is. Approaching a third of government debt has been bought up by the Bank of England with money they created on a PC.

The problem is that if we pay off the debt by printing money the value of the currency will plummet, making imports double in price. Inflation would be rampant.

See Zimbabwe for an extreme example.

By the way it is precisely because Spain, Italy, Greece & Ireland cannot create their own money that they are locked into their problems. They arguably NEED to print and devalue, but the ECB dictates that they can't.

emweaver

Its not just the media that's been quiet on this Martin Lewis hasn't posted much on the subject on here either.

huckster

emweaver wrote: »

That is nonsense they can not simply just print more money if they could the country would not be in so much debt!

They can print as much money as they like, but as the BOE would have to confirm this in their accounts, the UK would be punished by the ratings agencies/markets with higher interest rates, followed by hyper inflation. Eventually you would need a wheelbarrow of money to buy a loaf of bread.

The BOE has printed over £300bn of extra money in the form of QE, followed by some other form of printing money to buy assets. This has caused a massive problem to the value of pensions and there is now a black hole estimated to be over £400bn. At some point it is possible that some people will not receive the pensions they have paid into. There may be some form of protection from the UK government, but if they have not got the money, people just won't get their pensions. Lets just hope that this does not happen and economies start growing again, so these problems go away.

huckster

emweaver wrote: »

Its not just the media that's been quiet on this Martin Lewis hasn't posted much on the subject on here either.

Perhaps he is on a nice cruise, having just made a few bob !:money:

euronorris

I'm not exactly sure what's happened, but I'm pretty sure Halifax is also affected, right? They are a subsidiary of RBOS after all.

Today is the day that I would usually send money over to my UK account, ready for the coming month's bills - loan & overdraft charge. I've tried to log in, got to the overview page, but when I tried to view detail it crashed and kicked me out.

Should I still go ahead and send the money? Or will it get lost? I'd appreciate some advice here. Thanks

chris91_2

Halifax is not part of RBSG its part of Lloyds Banking Group.

transient

jinty271 wrote: »

Is that just in the last 20 minutes?

Slightly reassuring, in the absence of information from RBS, to know that they are updating throughout the day.

Yes .

Debt_Free_Chick

euronorris wrote: »

I'm not exactly sure what's happened, but I'm pretty sure Halifax is also affected, right? They are a subsidiary of RBOS after all.

Today is the day that I would usually send money over to my UK account, ready for the coming month's bills - loan & overdraft charge. I've tried to log in, got to the overview page, but when I tried to view detail it crashed and kicked me out.

Should I still go ahead and send the money? Or will it get lost? I'd appreciate some advice here. Thanks

HBOS is part of Lloyds and nothing to do with RBS/NatWest