Bank chiefs face probe over IT meltdown

The boss of taxpayer-backed NatWest yesterday reassured customers that “a corner has been turned” as it wades through a backlog of transactions following an IT meltdown.

Stephen Hester, chief executive of NatWest parent RBS Group, said senior executives would face “proper accountability” following the fiasco.

Some customers have been unable to view up-to-date balances, payments such as direct debits for bills have not been made and some wages have not been received.

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Mr Hester said: “We’re well on the road to recovery. Fingers crossed all the bugs have been got out but we feel a corner has been turned.”

Some 1,200 main NatWest and RBS branches will be open from 8am to 6pm for the rest of the week after the first Sunday opening.

The Financial Ombudsman Service (FOS) has advised people to keep records of how they have been affected in case they need to complain later.

NatWest has more than 7.5 million personal banking customers but it yesterday remained unclear how many had been hit.

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Mr Hester warned that Ulster Bank was a couple of days behind NatWest and RBS in dealing with the backlog.

Affected customers – including those who bank with RBS and Ulster Bank – have taken to forums and Twitter to vent their frustration, threatening to close their accounts once access to their cash is restored.

One customer from Glasgow wrote on Twitter: “I have had my bank charges of £12.95 taken this morning but my salary payment which should have gone in today hasn’t appeared. Goodbye Nat West, from a customer of 25 years’ standing.”

The computer software problem started last Tuesday night and reportedly arose following an attempt to install a software update on RBS’s payment processing system, which was then corrupted.