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FINANCIAL ALERT: New ATM glitch hits top bank December 10, 2010

Posted by scmla in Financial Alert.
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Ha! Don’t we all wish the ATMs would do this? In all seriousness, however, this is the second ATM “glitch” across the world in the past couple of weeks. I don’t believe in coincidences. I don’t believe that the banking system is this fragile. I don’t believe that this is an accident. More possible test runs for something bigger?

— Silver

New ATM glitch hits top bank
Hundreds queue for ‘extra’ cash after more BoI technical problems
Charlie Weston and Kevin Keane
Independent (Ireland)
December 08, 2010

Hundreds queued at Bank of Ireland (BoI) ATMs around the country last night after the machines started dispensing large amounts of cash which people did not have in their accounts.

BoI spokeswoman Mary Brennan confirmed people had been able to withdraw more money than they had in their accounts. She warned the customers would be “liable” for the extra cash they took out.

But Ms Brennan said the bank categorically denied that people received more money than they had requested from machines.

“When our systems go offline as they did, we can’t see people’s balances and they can’t see their balance so we take a decision to make a certain amount of cash available to customers. So some customers were able to obtain money from the ATM that they did not have in their account,” she said.

Ms Brennan continued, “We took a decision to allow some flexibility to our customers . . . it has been exploited by a minority of people.” A system in place for when there is a technical failure means some people can get money as they have been pre-approved by the bank, even if there is no cash in their account, she said.

She said customers would be “liable” for the extra cash they had taken out but added that BoI hadn’t decided how it would go about recovering its money.


Reports first spread on social-network site Twitter and soon banks had long queues outside ATMs in several locations.

A spokesperson had initially dismissed the reports.

In Limerick, for example, one man with just €20 in his account was able to withdraw €200.

Earlier, the bank was forced to apologise to its one million customers after a separate technical problem meant they were unable to withdraw cash on their ATM cards. The bank rushed to reassure customers the matter was only a technical one. There was no suggestion of any funding issues, it insisted.

Earlier a spokesman for the bank said its electronic payments systems were knocked out at 9.20am, with the bank struggling throughout the day to rectify the breakdown.

The fault meant ATMs were not working and customers were unable to make online transactions. The malfunction only affected BoI debit and ATM cardholders. People with cards issued by other banks were able to withdraw cash from the 1,000 BoI ATM machines countrywide. However, all transactions will be taken from their accounts.

Some customers reported being unable to withdraw any cash or use their Laser debit cards to make purchases. However, a bank spokeswoman said customers were able to withdraw some cash from ATMs, although the amount was restricted. BoI credit cards were working, the bank said.

It suggested that customers could use their credit cards to withdraw cash, but would not commit to waiving the high charges on credit-card withdrawals. In a statement, the bank confirmed that “an unforeseen technical issue” affected its in-branch and online banking systems.

“All branches are open and operating as normal but with a temporary restricted cash service. All ATMs are operating normally but with a restricted cash service for BoI cardholders,” the bank said.

In October last year, BoI admitted it had double-charged its customers for the second month in a row after thousands were mistakenly overcharged on Laser card transactions.


FINANCIAL ALERT: Millions cashless in bank glitch November 28, 2010

Posted by scmla in Financial Alert.
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Can we say possible test run for a “cyber” attack?

The banking system (globally) is already bankrupt. China and Russia are abandoning the dollar. Insider trading is at astronomical levels. We should see some major stock market rumblings in the next couple of weeks as the dollar is dumped on Wall Street and there are growing movements calling for citizens en masse to take their money out of the globalist banks. Either way, we’re in for a financial nightmare of biblical proportions.

— Silver

Millions cashless in bank glitch
Jacob Saulwick
The Sydney Morning Herald

November 27, 2010

ONE of Australia’s biggest banks is scrambling to process payments to millions of customers, who potentially face days of uncertainty about when they will be able to access their money.

A corrupted file in the National Australia Bank’s computers on Wednesday jammed its payment system, hitting customers from a range of banks who rely on the NAB to process payments.

The bank, which last night was considering opening extra branches during the weekend, could not say when the problem would be fixed. It had hoped to resolve the problem on Thursday.
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The Herald has been inundated by anxious NAB customers, some of whom had checked online to find their past month’s transactions rubbed out and their accounts credited with nothing.

Property deals were being put on hold, car sales suspended, wages not transferred, and direct debit payments for mortgages and bills stopped.

The glitch is a humiliation for the chief executive, Cameron Clyne, who this week said customers were beginning to appreciate the bank’s efforts to differentiate itself from its rivals.

A spokeswoman said any charges incurred because of the computer failure would be covered by the bank. But customers would have to make their own arrangements to contact the NAB.

The smaller banks Citibank and HSBC confirmed that their payments had also stalled because they use the NAB to process transactions.

The executive director of the Australian Retailers’ Association, Russell Zimmerman, lamented the possible impact on the weekend’s trade. ”It is a huge disappointment for the retail industry, and for those people who have been relying on their funds to come in from their wages and can’t access them.

”People have to be aware that if they are going to use taxis, or load up their supermarket trolleys, they could get to the counter and find they can’t process their sales,” he said.

NAB customers expressed anger, grief and disbelief that such a crippling problem could hit one of the big four banks.

Peter Bogdanoff, a car salesman at Central Coast Eurocars Gosford, said not only had his pay not gone in, but a whole month’s worth of transactions appeared to have been wiped from his online account.

Mr Bogdanoff also had clients with no money to finalise their car purchases this weekend.

Derek Sequeira, a manager at Charles Sturt University in Albury, said he would try to organise a class action against the NAB.

Emma Jane, a 34-year-old administrator from Townsville, said she had just returned from holidays and was relying on her pay packet to last the weekend.

The NAB spokeswoman said the bank had put on additional call centre staff. Some customers would also have difficulty taking money out from ATMs.

On Thursday Mr Clyne issued a rallying call to the banking industry to acknowledge why it was so unpopular with the public.

”The industry needs to stop being as arrogant as it has been. It needs to be less defensive, less dismissive. It needs to be more open, it has to do more listening, it has to display more empathy, it has to display more action,” he said.