RBS Had A Massive Computer Glitch And Now It's Letting Customers Overdraft £100 With No Fees

It’s been six days and the Royal Bank of Scotland’s customers are still having to deal with major problems caused by the bank.

Last week, a routine software upgrade by the bank failed causing a massive backlog of customer transactions, RBS’s CEO Stephen Hester told the BBC

As a result, hundreds of thousands of RBS customers were unable to transfer funds into or out of their accounts, the report said. 

Reuters points out that some people were unable to receive their paychecks or pay bills. 

In response, RBS–which is now 82 per cent government-owned after receiving the largest bank bailout in the world in 2008–said today that it’s allowing its customers to withdraw £100 over their limit with over-limit fees or charges automatically waived or refunded.

RBS-owned NatWest even opened up its branches on a Sunday for the first time ever to help customers. 

Still, RBS will have to pay its employees for the extra time.  On top of that, they’ll have to worry about customer departures as a result of the inconvenience. 

Here’s the statement from the bank

We’re making progress in putting things right and will keep 1,200 branches open until 7pm 25th June and from 8am-6pm for the rest of the week.

We have arranged for our customers to be advanced cash in our branches when they were missing payments and had no available funds.

All ATMs and point of sale transactions are still available.

All our current account customers who have an RBS, NatWest or Mint credit card in good order can now also:

  • withdraw up to an additional £100 over their limit, with over-limit fees or charges automatically waived or refunded
  • withdraw cash on their card with cash advance fee as well as one months worth of interest waived or refunded

Whoops.

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