MSE News: NatWest customers in lurch after meltdown

MoneySaverLog

dazza12 wrote: »

Lloyds work by some archaic system that doesn't let you do things in real time. I made the mistake of switching to Lloyds, and not being able to draw funds on the day they arrived would hit cashflow.

Lloyds have always been realtime with me, as soon as I've paid money into my account it's available to withdraw immediately.

dazza12 wrote: »

Advice about having a couple of accounts is good, but only if you are able to service these accounts. Another bank won't let you draw funds if you never use the account and keep the balance at £10.

Agree my back up account is with NatWest and have my direct debits go out with them, hopefully this whole mess will be sorted by the 15th

majjie

I have my business account with Natwest and my personal account with First Direct. I normally just transfer funds from one to the other as I need them - but, of course, I've not been able to do that.

I was going to go into NatWest and draw out some cash today - to pay straight into my FD account (via HSBC) - because I have some big bills due to go out today.

I rang FD first though - and it transpires it would be a waste of time. The payments won't go out until Monday anyway ... and if I pay cash into an HSBC bank today, it will only be via an ATM machine and that won't be processed until Monday either.

It would be better to wait until Monday - check if NatWest online is working by then - and, if it isn't, draw the cash out then and pay it into HSBC. The transfer to FD would then be immediate - whilst it might take them a day to process Saturday's ATM payments.

In the meantime, FD have put a hold on my regular payments, so that they don't go out first thing on Monday - and they will re-instate them on Monday, when I phone to confirm the money is transferred (which avoids penalty payments and having to reclaim them from NatWest ... and also means the recipients won't even notice a problem).

I tell you all this - just in case someone else is in a similar position and because First Direct were very helpful - not because you need to know my personal arrangements

It's not easy to plan for such eventualities, if your income is low ... or if your income is erratic, as it is for many of us who are self employed.

I won't starve this weekend, even if I don't go and get any cash - because I have a Sainsbury's gift card given to me by friends - and it occurs to me that it would be a good idea to buy myself one of these every time business is good and keep it in reserve.

There's absolutely no point in me stocking up on food - because I'll just see it in the cupboard and eat it over the next week or two - so that I don't have to bother going shopping. Some of us don't have the personalities for that sort of careful planning!

Toe-Jam

Its crazy from an IT perspective that the Entire banking group consisting of 3 completely separately run banks is running of one platform.

This goes against every security and performance principle there is.

Sure it is acceptable to use the same software and platform, but they should be run on separate servers for each bank so that 1 crash isn't taking the whole group down.

On a separate note, Ulster Bank is still not fixed and would imagine its last in the pecking order to get resolved, if they remember about it at all.

majjie

Toe-Jam wrote: »

On a separate note, Ulster Bank is still not fixed and would imagine its last in the pecking order to get resolved, if they remember about it at all.

NatWest isn't fixed either. They may have fixed the software problems but the online banking still isn't working. 'Course that may be due to all of us trying to log on at once!

bobblebob

Been listening to people saying they havent got money now for food, bills etc on the news. Obviously the bank messed up in a big way, but are customers to blame a little too?

Everyone knows technology isnt perfect and backup systems are in place when things go wrong, but should customers have their own backup system? Ie another bank account with a different bank incase stuff like this happens?

MoneySaverLog

bobblebob wrote: »

Everyone knows technology isnt perfect and backup systems are in place when things go wrong, but should customers have their own backup system? Ie another bank account with a different bank incase stuff like this happens?

Yes it's called NatWest :rotfl:

majjie

bobblebob wrote: »

... should customers have their own backup system? Ie another bank account with a different bank incase stuff like this happens?

That rather implies that we should have enough money to pay all our bills twice!

People who are on low incomes - or who have spent their savings because they're out of work - or have used all their savings building up a business (like me) - just don't have that amount of spare cash.

lolavix

bobblebob wrote: »

Been listening to people saying they havent got money now for food, bills etc on the news. Obviously the bank messed up in a big way, but are customers to blame a little too?

Everyone knows technology isnt perfect and backup systems are in place when things go wrong, but should customers have their own backup system? Ie another bank account with a different bank incase stuff like this happens?

I've said similar on the other topic and apparently my attitude is absolutely disgusting!

I know things are hard for many people, but do they honestly eat every morsel of food in the house and wait until the car is runnin on fumes before topping up? Seems a crazy way to live IMO - would be easy enough to save 50p a week or something, or keep some change in the house incase a bank card stops working.

It's those who don't bank with Natwest that are the worst affected, and I'm surprised other banks aren't using a bit of discretion and cashing money for those affected.

julesds

majjie wrote: »

NatWest isn't fixed either. They may have fixed the software problems but the online banking still isn't working. 'Course that may be due to all of us trying to log on at once!

I haven't been able to access the website for 2 days its driving me insane!

They said the bills that should have gone will now show, well if only I could actually check.

I get paid on Monday, I will want to know my money is actually there.

MoneySaverLog

majjie wrote: »

That rather implies that we should have enough money to pay all our bills twice!

Or if not spare cash a overdraft facility in place that will cover a months worth of essential payments if something like this was to happen which is available in your back up bank.

If this has highlighted anything it is the need to have more than one account in different banking groups for such disasters.