More UK bank runs/bank acount holidays?

Mortabrey

Are we going to see a repeat of N,Rock?

Is anyone else getting their cash out of other banks to beat the rush?

The bank has once again apologised after millions of customers were left unable to access their accounts amid reports bills were not paid out and holidaymakers abroad could not make payments.
After they stayed open until 7pm last night, 1,000 branches opened early this morning to help with the disruption, which also affected customers at Ulster Bank and RBS; like NatWest owned by the same banking group.
'Unfortunately we are once again experiencing technical issues with our systems and account balances have not updated properly overnight,' a message on the NatWest website said on Friday morning.
'This means where money has gone into a customers' account, there may be a delay in it appearing on their balance.'
The statement continued: 'We can assure our customers that this problem is strictly of a technical nature and we continue to work hard to resolve this.
'We also recognise this is an unacceptable inconvenience for our customers, for which we apologise.
'Staff in our branches and at our call centres are ready and available to answer any questions and help where they can.'
Yesterday the bank said a 'technical problem' was to blame for the major glitch.
'This is an unacceptable inconvenience for our customers, for which we apologise,' a spokesperson said.

Read more: http://www.metro.co.uk/news/902823-natwest-customers-hit-with-second-day-of-technical-problems#ixzz1yWAd9zsV

Mortabrey

The Bank runs/bank holidays are front page of a few less main stream publications. Just after bank of England anounced the UKs QE4 or whatever its called. When or IF these accounts become unfrozen everyone will want all their funds out ASAP. I would line up for days outside to get my funds out. There is not enough to go round it will be first come first served.

opinions4u

What a load of irresponsible nonsense.

GeorgeHowell

Since RBS is 80% state owned and therefore in effect 100% HMG guaranteed it's the last one that's going to go pear-shaped in terms of liquidity. This fiasco is much more likely yet another example of a rushed, contracted out, and poorly managed system migration or "enhancement" blowing up in their faces. Remember Tesco bank ?

gkerr4

UK bank runs?

is this a joke post?

MoneySaverLog

I have up to 85K protection in the bank, I take out all my money in cash and put it under the mattress then I run the risk of being burgled or the house burning down.

Think I'll leave it in the bank.

nilrem_2

This is a stupid and irresponsible thread, most people here will realise that the stuff in this thread is nonsense but a few people will unnecessarily worry after reading anything to do with getting ones money out of a bank quickly (especially with computer banking issues of the last few days).

For any one who is silly enough to withdraw all their cash I would like to know what they will do with the worthless bit's of paper when the run or crash they predict arrives?

Because as sure as night follows day if the government were to allow any large UK bank to go bust with savers losing their cash there would be a 'run' on every other bank within a few hours resulting in total meltdown and anarchy with money quickly becoming worthless.

You would need to worry about where you would get some food rather than have a stockpile of worthless paper.

It is not going to happen, keep your cash in the bank!

Uncle_Ben

This RBS hooplah is a dress rehearsal for a bank holiday. What will happen is the same thing that has happened in places like Brazil and Argentina. The banks will be closed for days. You will not be able to get your money out. When the banks open again, the currency will have been devalued. They will give you one new pound for, say, four old ones.

I shall start taking my money out on Monday, and buy hard assets and safer currencies with it.

They ain't going to depreciate my wealth.

dealer_wins

Uncle_Ben wrote: »

This RBS hooplah is a dress rehearsal for a bank holiday. What will happen is the same thing that has happened in places like Brazil and Argentina. The banks will be closed for days. You will not be able to get your money out. When the banks open again, the currency will have been devalued. They will give you one new pound for, say, four old ones.

I shall start taking my money out on Monday, and buy hard assets and safer currencies with it.

They ain't going to depreciate my wealth.

I want some of what your smoking!!

bigadaj

dealer_wins wrote: »

I want some of what your smoking!!

Now that's an investment with a very good return, however I understand that the risks are also quite significant.

innovate

Uncle_Ben wrote: »

I shall start taking my money out on Monday, and buy hard assets and safer currencies with it.

I have a few thousand millions to take out myself, too. Be eternally grateful for some hard asset tips, and safer currencies, too.

Been thinking about printing some more money, too. You can't ever have enough of the stuff.