The Royal Bank of Scotland and its subsidiary Natwest just confirmed that it has returned around 600,000 payments that failed to enter the accounts of RBS customers earlier this week.
In a statement sent to Business Insider, an RBS spokesperson also confirmed that people will not be financially penalised for the bank’s errors:
We can confirm that the issues customers were experiencing in relation to delayed credits and debits have now been resolved and accounts have been updated. We are extremely sorry for the inconvenience and distress that this has caused our customers. If any customers are still experiencing issues please contact our call centres or come into a branch where are our staff are ready to help. We will continue our work to make sure that no customer will be left out of pocket as a result of this issue.
This missing payments was a huge deal for customers because the payments ranged from people’s monthly salaries, which obviously pays for housing and bills, as well as welfare payments for the more financial vulnerable in society.
Also, let’s say, if your salary comes in on the 1st of the month, and your bills come out the same day, then if your salary payment is missing – that means you’ll have a vast amount of money coming out of your account and nothing going in. This could take you over your overdraft and you could be charged fees – even if it’s not your fault.