Natwest Technical Issues

daymouse

Just wanted to share there is hope, I was due to receive my pay today 22nd which normally appears in the early hours however nOthing when I woke up today or all day in fact! That is until early this evening where it appeared in my account.
I then tried to transfer so money into my ISA via the mobile app but kept failing until earlier when it eventually went though

Robbie64

nilrem wrote: »

It's said to be a planned update which did not go as planned!

Similar to what we get on our home PC's occasionally when we apply a windows update and it fouls things up.

True, but we can always use the System Restore feature with not much lost! Big businesses need to have a more robust system of recovering from a major problem. Especially financial institutions...

nilrem_2

Robbie64 wrote: »

True, but we can always use the System Restore feature with not much lost! Big businesses need to have a more robust system of recovering from a major problem. Especially financial institutions...

I imagine that they do have much more robust recovery systems than system restore! Well I hope so!

No matter how careful one is sometimes things go wrong, even NASA with their backup systems don't always perform 100%.

richardruff

This is interesting - I don't bank with Natwest, though I nearly did switch! Not so sure about that now!

If it is an issue where the balance is showing incorrectly, it would maybe explain why some people are having trouble and some people aren't.

Say if your balance was £100 just before the issues started - that would suggest to me that the maximum transaction you could undertake is £100, (but because the balances are not updating, you could do this many times) but if you tried to withdraw £110 that would be declined.

Anyone have any thoughts on this?

Alleycat

worldtraveller wrote: »

Have they actually tried unplugging the computer and plugging it in again? :idea:

Or clearing their cookies.

kondormid

nilrem wrote: »

They are not bankrupt, they won't go bankrupt, I don't understand why people are even thinking like this.

Maybe one reason people feel like this could be because Moodys downgraded yesterday. They also placed various big banks into three tiers. RBS (natwest) was now in the bottom tier, which means that it is going to be harder for RBS (natwest) to get its hands on funds. They now have to raise more collateral before they can get the short term loans a bank needs to operate.

RBS has the money, sort of, it is sort of invested here and there, but it has to borrow money from time to time to improve the availability of funds. In truth Moodys have stated that RBS has too much exposure to volatility, and has a risk of outsized losses. What this really means is that the value of the collateral that RBS has is too variable, and the value of that collateral can drop down too quickly.

To cover those swings from now on RBS has to hold more collateral.

If, as might or might not be, the collateral of RBS has actually just took a dive then obviously RBS (natwest) would have problems accessing funds to distribute. Caused by a reduction in collateral at the exact same time it is being asked for more. Even if this did happen it does not mean Natwest is bankrupt. Natwest, as with every other bank, will be fine as long as everyone doesn't suddenly decide they want their money at the same time. Of course they might suffer with some people trying to take more cash out than they usually would to protect themselves from days of broken software in the future but hopefully not too many people will try to do this or it might cause big problems.

LadyMorticia

Does anyone know if this has extended to Halifax too?

I transferred some money from one of my accounts to my other account to transfer some money to DH to help him pay for something (I know, long-winded but I only have him set up as a recipient on one of my accounts).

However the transfer isn't showing from both my accounts or in DH's bank account but my account is down by the amount I transferred.

BBoo_2

missladyannie wrote: »

Well I went down to my local branch who stayed open until 7pm, they were absolutely fantastic and really helped me out - possibly as I ended up bursting into tears on them as i was so tired out from all the calls to the call centre throughout the day!

They gave me £300 cash and paid some bills for me via their computers. They also said they will personally walk down to Barclays the minute my wages hit my a/c (during working hours obviously) and pay the credit card bill as well to save me doing this (as I am going away on holiday and may not be able to pay it beforehand if a/c not up and running)! They also let my 3yr old son use their toilet and gave him a drink. They couldnt have treated me more nicely.

They explained that yesterday was worse than today in branch and that slowly the tech heads were fixing the fault but said they wouldnt like to be in the shoes of whoever caused the problem!

By the time I had got home my wages were showing in my a/c although I cannot pay bills or do transfers etc.

I have bought them a box of chocolates and a thank you card to take down tomorrow for being so good

I'm sure the staff will be ever so grateful for the chocolates and thank you card. You're going to make a their week! Thank you on behalf of everyone who deals with complaints day in and day out

madgagoo

LadyMorticia wrote: »

Does anyone know if this has extended to Halifax too?

I transferred some money from one of my accounts to my other account to transfer some money to DH to help him pay for something (I know, long-winded but I only have him set up as a recipient on one of my accounts).

However the transfer isn't showing from both my accounts or in DH's bank account but my account is down by the amount I transferred.

Being as Halifax are not part of RBS, your issue has nothing to do with current RBS/Natwest issues.

I'd suggest ringing Halifax and asking them what is going on!

LadyCoupon

Has everyone had no updates again over night? A direct debit should have come out today, which I am assuming it will come out later once they catch up with it.