Online Banking Error - am I overreacting??

julie1974

I check my bank accounts every other day via online banking, on 23 Dec when I logged in I was shocked to see an overdrawn balance of around £1500. I am always in credit and could see that this overdrawn balance went right back to October. It was really odd, all the transactions were correct but the balances were wrong, constantly overdrawn by varying amounts. I telephoned my bank, they assured me that I was in credit. The next day I printed off the PDF's of the transaction reports and took them into a branch, they also assured me that I was in credit, the balances on the transaction report was wrong and they could not explain it. It was Christmas eve and they were really busy so that was that. I have since contacted my bank again about this. They have said their IT dept were aware of the problem, the balances now are now correct and that's that. I'm not happy with their response and feel that they should have shut the website down if they knew there was a problem rather than myself and possibly others having a mini panic attack. I am overreacting? Thanks for your opinions.

Browntoa

I think you are overreacting , you got no charges , it was a glitch and it was sorted

martinthebandit

Browntoa wrote: »

I think you are overreacting , you got no charges , it was a glitch and it was sorted

This ^ seems like the right answer to me

colsten

julie1974 wrote: »

I check my bank accounts every other day via online banking, on 23 Dec when I logged in I was shocked to see an overdrawn balance of around £1500. I am always in credit and could see that this overdrawn balance went right back to October.

why did you not spot it in October? Are you saying they retroactively changed your transactions for the last couple of months?

julie1974 wrote: »

I have since contacted my bank again about this. They have said their IT dept were aware of the problem, the balances now are now correct and that's that.

Sounds good

julie1974 wrote: »

I'm not happy with their response and feel that they should have shut the website down if they knew there was a problem rather than myself and possibly others having a mini panic attack. I am overreacting?

Probably, as if this had happened to many people, we would have heard of it before, especially since many regulars here have got accounts with many banks and one or the other of us would have noticed.

Which bank?

apollo_

Perhaps they should have placed a notice on the website, but I think asking them to shut down the website may be an overreaction. On the bright side, at least you're not actually overdrawn!

jonesMUFCforever

If it was a massive problem we would have heard about it either on here or on the news.
I didn't hear anything.

buglawton

It's possible for a sophisticated computer hack on a bank's servers to restrospectively show a neg balance going way back in time. Even back to your earliest available online statement!

When you visited your branch to be assured you had positive balance, should have got it in writing.

SnowTiger

julie1974 wrote: »

I check my bank accounts every other day via online banking, on 23 Dec when I logged in I was shocked to see an overdrawn balance of around £1500. I am always in credit and could see that this overdrawn balance went right back to October. It was really odd, all the transactions were correct but the balances were wrong, constantly overdrawn by varying amounts. I telephoned my bank, they assured me that I was in credit. The next day I printed off the PDF's of the transaction reports and took them into a branch, they also assured me that I was in credit, the balances on the transaction report was wrong and they could not explain it. It was Christmas eve and they were really busy so that was that. I have since contacted my bank again about this. They have said their IT dept were aware of the problem, the balances now are now correct and that's that. I'm not happy with their response and feel that they should have shut the website down if they knew there was a problem rather than myself and possibly others having a mini panic attack. I am overreacting? Thanks for your opinions.

You're overreacting.

What you see when you log in to your bank account using the Internet is a filtered view of the data the bank holds.

There was an error. A technical fault with the presentation. That's all.

SnowTiger

buglawton wrote: »

It's possible for a sophisticated computer hack on a bank's servers to restrospectively show a neg balance going way back in time. Even back to your earliest available online statement!

When you visited your branch to be assured you had positive balance, should have got it in writing.

Meanwhile, back in the real world...

buglawton

SnowTiger wrote: »

You're overreacting.

What you see when you log in to your bank account using the Internet is a filtered view of the data the bank holds.

There was an error. A technical fault with the presentation. That's all.

All balances wrong back to October - just a matter of presentation! There was a data corruption of a neat amount, £1500 (btw was it exactly or just approx?). It looks like a corruption of a base amount on which all forward going balances are calculated.

This is a bit like the phantom ATM withdrawals that 'can't' happen and which the banks only admit to after people compare notes on forums like this.

Most MSE readers probably scrutinise their statements for 'odd' transactions but the weird thing here that OP has drawn our attention to is an error that you can't see unless the amount is large/takes you into an overdraft.

Imagine if you don't get paper statements - the only way to prove the bank is wrong is by the mysterious lack of overdraft charges on the series of online statements.

Now think, supposing there had been a £15 reduction of balance rather than £1500. You'd never, ever have noticed it.

colsten

buglawton wrote: »

Now think, supposing there had been a £15 reduction of balance rather than £1500. You'd never, ever have noticed it.

I definitely would have noticed it - I would notice even a penny's difference as my bank transactions are mirrored in MS Money. I would query a penny's difference with the bank in question, too.

I would notice discrepancies within a couple of days at most since I do check my accounts most mornings. Even if I checked less frequently, there would be no logical explanation for why I wouldn't notice unless it's £15 or some other minimum amount.