MSE News: Co-op, Halifax and Lloyds customers hit by banking chaos

yorkiepudd

Just been to Tesco and my Co op card is working again so looks like that bank is sorted at least.

Pincher

I wonder whether they have an Availability target for their system, and whether they have failed it.

Zorz_2

innovate wrote: »

MSE, and Martin Lewis personally, should campaign to their subscribers/readers that everybody should have at least one credit card, even one with a low limit, alongside their bank account and credit card. Ideally, having more than one current account with unrelated banks is also desirable - though I appreciate this may not be possible for everybody.

I agree with this one, and actually I should practice what I preach too! No point in having accounts with LTSB and Halifax, or HSBC and First Direct etc.

I too got stung by this. Used the card early in the morning for some groceries, no problem. Around 2pm, I tried to catch a train when I realised my Oyster ran out of credit. Tried to topup at the station's machines ...card declined! :eek:

I (fortunately!) managed to get some cash from a nearby Tesco/RBS ATM, even though the paper slip says "Balance NIL, You can withdraw NIL" :shocked:

Fearing the worst, I logged in via Lloyds' mobile app but I could only see the account numbers but no balances, and an error message. I thought that someone was messing with my accounts, but it's a bit of a relief that the problem is systemwide.

Stuart_W wrote: »

If the credit card system went down in shops, manual card processing would take place (remember those little carbon-paper receipts anyone?).

Actually they are alive and well! They still use these for purchases with foreign cards without chip.

innovate

Stuart_W wrote: »

Has the notion of any kind of manual back up system completely left us? When the computer says no are we just stuffed?

I think the 'manual system' is still acceptable to banks and credit card companies, but not all shops are still geared up to it.

Where credit card Chip & PIN failed, shops have on and off recently printed slips for me to sign.

Butterfly_Brain wrote: »

It isn't just the ATMs that are affected. I know for a fact that Asda and Sainsbury card machines

Remember, ASDA and Sainsbury's are supermarkets, not banks. For them to offer financial services, they need to partner with financial institutions. I believe Sainsbury's banking partner is Lloyds, and ASDA are picking the best deals from any bank, so may be they currently have the best deal with Lloyds/Halifax, too.

So, if the supermarkets' financial partners have system troubles, the supermarkets and their financial products have troubles, too.

Butterfly_Brain wrote: »

I pay cash for everything that I possibly can too.

Keeping a certain amount of cash is definitely a good backup. But if all your funds are in cash, what do you do if someone nicks all your cash? What if your cash goes up in flames? Again....do not rely on just one source for your vital spending money (or any of you money, lol).

KTF wrote: »

I wonder if this was a backend change related to the Lloyds branch sale to the Coop.

Very possible.

Gromitt

Butterfly_Brain wrote: »

I do not trust banks and every month I pull out every penny that is not needed for mortgage or direct debits, plus a float. I pay cash for everything that I possibly can too.This is the second banking crash this year and I would advise OPs to do the same as I do.

That's fine until you get your money stolen, lose your wallet, fire, flood, etc, and you loose it all. I never carry more than about £20 with me and never more than £40 in the house.

Luckily, my Aqua credit card worked fine this afternoon.

StephenM_2

pete_v wrote: »

Halifax online banking logs in ok, but has no actual statement information. Just a message saying "Sorry, but this account information isn't available right now. Please try again later."

Glad I keep £200 backup cash under a brick in my house...

Pete

I've just been on Halifax online. Everything was normal. Transferred a largish sum from one Halifax account to another.

MoneySaverLog

Where do co-op fit in with LBG? Apart from them buying up some of the old TSB branches, has Co-Op data been moved across to LTSB in preparation for this then as this may indicate it is so.

mazman83

Tried getting cash out from my coop account and still doesn't let me.

Even tried at the Coop branch were I found about 5 others with similar angry looking faces, unfortunately the bank was closed.

innovate

Only speculating: given that the Cop website has been ancient for some time, their core systems are probably in a similar state. So part of the Branch-acquisition deal might be that the Coop will get a more modern system - the one that already operates the Branches they are buying.

May be someone who has the facts will share them. Have you checked The Register yet? Usually has the most credible techie grapevine (as far as grapevine credibility goes, and as far as credibility/business accumen of techies goes).......

Pound

Halifax seems to be working ok in terms of using my debit card and cash withdrawals. Only problem for me is I can only see transactions from today, nothing earlier.