MSE News: NatWest customers in lurch after meltdown

mardatha

Oh for goddsake stop being babyish and if you cant be constructive be quiet.

jamesd

anontruth, perhaps you missed the email today where NatWest current account customers who also have a NatWest credit card can withdraw all of their credit limit plus one hundred Pounds in cash and NatWest will not charge the normal cash advance fee or any interest for a month. Presumably still subject to normal daily withdrawing limits for the card, though. With no trouble at all I withdrew a couple of month's pay worth of money from a NatWest account today. It'll go back in tomorrow.

There's effectively unlimited liquidity available to domestic banks from the Bank of England. No UK bank is going to run out of money.

I am a technical pro in the computer field and do have customers who've experienced significant outages and delays at times, even though they have backups. Sometimes it just takes a while to catch up. How long can depend on how the backlog compares to the extra capacity in the system. It takes longer if there's not a lot of extra capacity than if there's plenty. With different customers on different systems the time it takes for different customers can vary. Even online games companies can suffer delays if they have to use a backup - I've seen some with a backup system that's a week or more behind the live system, so if they had to use the backup, it'd take at least that long to get current.

TheBanker

innovate wrote: »

It's all very well for NatWest/RBS/Ulster to say "There should be no adverse impact to credit ratings as a result of this incident" - - and they probably can work with the CRAs to remove any default markers, or not have them added in the first instance - - - but only for transactions that they report to the CRAs.

I can't see how they could possibly catch all problems that result directly from the mess NatWest created.

It's going to be a complete mess trying to unwind all the problems. It goes even further than the example you gave of an employee, who themselves have no connection with Natwest but work for a firm who do receiving their pay late.

For example I could not pay my rent. I told the landlord who said not to worry about it. However what if he had been relying on my money to pay the plumber who fixed my heating on Friday? And the plumber was relying on the money to pay his employee who in turn needed it to pay his mortgage? It could end up like peeling the skin from an onion.

G_M

Just thought I'd correct the TV/radio reports that "RBS's 17.x million customers are still experiencing difficulties".

No. Not all 17.x million.

My account is operating fine, online, cash machines etc. My DDs have all gone in/out fine all week.

In fact the only change I've seen at all is the extended branch opening hours!

TheBanker

G_M wrote: »

My account is operating fine, online, cash machines etc. My DDs have all gone in/out fine all week.

I'd go and touch some wood quickly if I was you. It's your turn to go without banking services tomorrow until Friday. There's a rota in operation. :beer:

Toe-Jam

mardatha wrote: »

Oh for goddsake stop being babyish and if you cant be constructive be quiet.

Who died and made you forum Lord....

Everyone is entitled to their opinion

purplebutterfly

G_M wrote: »

Just thought I'd correct the TV/radio reports that "RBS's 17.x million customers are still experiencing difficulties".

No. Not all 17.x million.

My account is operating fine, online, cash machines etc. My DDs have all gone in/out fine all week.

In fact the only change I've seen at all is the extended branch opening hours!

My RBS account didn't go down until Saturday afternoon so you may yet be affected. I hope not but you might want to consider drawing some cash out just in case?

ToNik

Thought my account was all sorted this morning, transactions showing for 20th onwards, everything where it should be however this afternoon it went belly up and my natwest card is being declined everywhere

Debt_Free_Chick

My RBS account has been fine too. I posted on another thread that I've withdrawn cash and had all payments made by SO, DD and debit card.

However, I think the crucial thing is that I had the balance to support all these payments and was not dependent on a credit being received in the past week or so. I think this is a key factor ....

bagpuss71

Partner hasn't been paid and is stressing about his credit rating. He had some debt problems but has been working hard to improve his credit rating.
I'm in RBS and i have had no problems with my wages (we both work for the same NHS trust) or payments.
So natwest problems are still persisting. I think RBS management are performing poorly at the moment, if I wasn't already being made to move to Santander, I'd change banks anyway.:mad: