Robin hood banker

NatWest is to open 1,200 branches across the country today for the first time
ever as the bank clears a massive backlog of payments caused by a computer
glitch.

Stephen Hester, chief executive of NatWest owner RBS (LSE: RBS.L – news) , yesterday issued a
public apology for the technical hitch and conceded the bank had let down
its customers.

Branches will open their doors today between 9am and noon, amid continued
anger following days of disruption.

The chaos, caused by a problem with computer software, left many of its
clients unable to pay bills or access their money.

Mr Hester attempted to reassure customers following mounting fears that
thousands of people could be hit with penalty charges if their regular
payments – including mortgages – were affected.

”I am very sorry for the difficulties people are experiencing,” he said.

”Our customers rely on us day in and day out to get things right, and on this
occasion we have let them down. This should not have happened.

”Right now my top priority, and the priority of the entire RBS Group, is to
fix these problems and put things right for our customers.

”This is taking time, but I want to reassure people that we are working
around the clock to resolve these problems as quickly as we are able.”

NatWest has more than 7.5 million personal banking customers but it is unclear
how many have been affected.

The issues extend to users of Royal Bank of Scotland (RBS) and Ulster Bank,
which like NatWest are part of RBS Group.

Ulster Bank said about 100,000 of its customers experienced difficulties.

While the original technical glitch has been fixed, staff are now working
through the build-up of transactions which have not been processed.

Double the usual number of employees are manning call centres to tackle the
problems, Mr Hester said.

”Our staff have already helped thousands of customers to access cash and we
will continue to provide this service on a 24-hour basis while we work to
resolve the problems,” he added.

”I also want to reassure customers that no one will be left permanently out
of pocket as a result of this, and again, they should contact us directly
about this.”

In a message to staff, he said he was proud of the work his employees were
doing but that they were ”not out of the woods yet and there is more hard
work ahead”.

The initial problem reportedly arose following an attempt to install a
software update on RBS’s payment processing system, which was then corrupted.

The fault meant payments went awry, wages appeared to go missing and holiday
and home purchases were interrupted.

When account balances were not updated properly overnight, credit and debit
payments failed to show up as quickly as they should.

The upheaval sparked fury among customers who turned to Twitter to vent their
anger.

One wrote: ”Has anyone actually had anything clear yet? Within the last our
(sic) I have had ALL my bills go out … but oohing (sic) go in! I’m now
going to be charged right?? I was told on the phone this morning by one
person I would have my money by 8am and then by some one else I would have
it by 12pm…whatever next! Now I’m very overdrawn…and still have no
available funds!”

Another, Amanda, wrote: ”I just feel so sorry for the staff in the call
centres. I spoke to a lady this morning who was clearly close to tears.

”It’s difficult to remember, but it’s not their fault. I did try not to shout
at her but it was very hard, particularly after 35 minutes on hold with the
silly announcement saying ‘check the website’ every few seconds.

”The frustration is now getting to everyone.

”How a situation like this can arise is unbelievable. I’ve had to explain why
my rent is late, and they were not at all sympathetic!”

“Our customers rely on us day in and day out to get things right, and on
this occasion we have let them down. This should not have happened.

“Right now my top priority, and the priority of the entire RBS Group, is
to fix these problems and put things right for our customers.

“This is taking time, but I want to reassure people that we are working
around the clock to resolve these problems as quickly as we are able.”

Lance King, 34, from Whiteley, Hants, and his family, were left homeless after
the problems at NatWest caused their house purchase to fall through.

He and wife Gemma, who have two daughters aged one and five, had sold their
previous property, but could not move into their new one because the money
for the sale had failed to appear.

“It is a complete nightmare,” he said. The family are now staying with Mrs
King’s parents.

First (OTC BB: FSTC.OB – news) -time buyers Mike Johnson and his wife, Laura, who is 20 weeks pregnant,
were thrown out of the house they thought they had bought on Thursday
evening because the mortgage payment did not go through from their
solicitor’s NatWest account.

“The sales rep turned up that evening and asked us to leave until she could be
sure the money was coming,” he said.

Article source: http://uk.finance.yahoo.com/news/robin-hood-banker-101151299.html