Natwest meltdown hits 1 million SME account holders
The technical meltdown that has been affecting Natwest bank customers, as well as Royal Bank of Scotland (RBS) and Ulster bank users looks set to continue in to the weekend. All Natwest bank accounts are reprted to be affected and that includes an estimated 1 million small business customers.
The cause of the glitch is unknown and Natwest have chosen not to disclose the exact nature or source of the problem, which is causing havoc with personal and business bank account holders alike. There has been some speculation that the problems are a result of an upgrade related to a new mobile banking mobile app, but that is unconfirmed.
The problem came to light on Tuesday evening and looks set to continue over the course of the weekend. Opening hours have already been extended this week so staff can reassure customers. Branches will be open for longer this Saturday and in a highly unusual move, branches will also open on Sunday.
It’s likely that some eBay and ecommerce sellers will be hit by this problem, and if you have been affected, we’d love to hear from you. Some buyers will also be unable to pay for purchases. Others, needless to say, will cite the issue as their excuse for non-payment too. Have you been affected?
John Pemberton says
11:22 pm on 22/06/2012
This is the beginning of the end for Natwest and RBS. Their profits are already below par. People will be leaving in their droves next week…I would if I was with them. Can’t go wrong with Lloyds or HSBC.
JD says
12:56 am on June 23rd, 2012
‘Can’t go wrong with Lloyds or HSBC’
May be a silly statement IMO, just wait till next week, month, year – their profits could be ‘below par’ even when compared with some Spanish Banks!
Get a good mattress.
Dan Wilson says
12:00 am on 23/06/2012
It will be interesting to see how many people do leave Natwest/RBS. I don’t expect an exodus to be honest.
It’s a faff to change banks. If you have an account and a mortgage, it’s a massive hassle. If you have an overdraft, say, and need it, it’s unlikely a new bank will oblige.
From a business perspective, can a new bank offer the same service? Who knows?
It’s fear and uncertainty that keep people with the same bank. That’s why more people get divorced than change banks, after all.
Jinbo says
5:33 pm on 24/06/2012
Isn’t streamline part of Natwest. I wonder what percentage of the UK’s card transactions go through them?
Dan Wilson says
12:06 am on June 25th, 2012
Jimbo: A good question. And I don’t know the answer. I haven’t seen Streamline mentioned anywhere in the press stories.
stuart says
8:06 am on 25/06/2012
Streamline & Worldpay are no longer part of Natwest so it has no effected them.
We are with Natwest, we don’t plan to leave we ended up with an account with no charges on it…not sure how lol
It luckily didn’t effect us.
HSBC are a living nightmare so would never go with them!
No matter who you speak to we have all had problems with one bank or another, they are pretty much the same.
A lot of the drama has been wipped up by the media as normal!
fusion says
9:45 am on June 25th, 2012
couldn’t agree more about HSBC. Natwest has been the best bank i have been with, no hassle to setup, to get loans and has the best online account of any bank.
John says
8:05 pm on 25/06/2012
All banks have a switching service that they also guarantee should they make a mistake. I moved from Abbey before it was Santander, because of constant errors on their behalf (even though it was free business banking).
Lloyds has an excellent online business account, which now allows international transfers and many more features. I am not saying every bank is great, but I would not allow myself and my business to be at risk from incompetence on this level. Bolloks its a software issue as they claim – having worked in the software industry for 10 years, I know that any major upgrade would have a roll back functionality.
Its easy you go into a bank, you say you want to switch, and tell Natwest/RBS to jog on. We put up with too much incompetence in this country.
Polly says
8:44 pm on 28/06/2012
Streamline have been affected as they use netwest.
Have now been waiting four days for a paymaent that should have gone into my lloyds account on mon.
Not happy but what can you do.
Problem sort yer right.
Sue says
11:55 am on 29/06/2012
Still no payments from Streamline. Loads of direct Debits going out on Monday, 1st July, and no money!