Deutsche Bank ATMs Block Cash Withdrawal Due To "Technical Glitch"

Tyler Durden's picture

In what appears to be a widespread problem, Germany's Spiegel reports that customers are unable to withdraw cash from Deutsche Bank ATMs due to a "technical glitch."

 Via Google Translate,

A German bank spokeswoman declined to comment on the problem first.

 

But the bank finally conceded a technical glitch in online banking.

 


 

The deposits and withdrawals were partially displayed twice or not ready, the bank said.

 

"None of these payments twice shown has taken place," it says in the statement.

 

Apparently slipped some accounts due to the alleged double deduction into the red. "I could not pay by card. By double counting our account is in the red. Also withdraw money I could not, because our credit limit is not sufficient," wrote a user on a Facebook.

With everything that is going on, one can only wonder if desperate times have led to desperate measures... or, of course, this could simply be a "technical glitch" which just happened to occur on a Friday evening - the busiest time for cash withdrawals.

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Winston Churchill's picture

More like a hernia for the moment.

NoDebt's picture

If the ATMs aren't back up in 10 minutes.... just wait longer.

- Ace Ventura

froze25's picture

To bad it never happens to EBT/SNAP cards.

Haus-Targaryen's picture

Just took 1.000€ out over lunch.  lol suckerz.

Haus-Targaryen's picture

It amazes me how you explain to people who bank deposits are uncollateralized accounts receivable ... and nothing more - they almost always go "nu-huh" or "good thing banks don't go bankrupt."

ParkAveFlasher's picture

"It comes nude", and then it puts the lotion in the basket, or else it gets the hose.

BandGap's picture

Andy Rooney's eyebrows tell me otherwise.

The cash is in the sink.

Slomotrainwreck's picture

Glitch:

 
  1. 1 a :  a usually minor malfunction <a glitch in a spacecraft's fuel cell>

  2. 2 b :  a minor problem that causes a temporary setback

  3. 2 :  a false or spurious electronic signal

 

Maybe they had to take a "time out" to kiss the withdrawals goodbye.

VinceFostersGhost's picture

 

To bad it never happens to EBT/SNAP cards.

 

It actually did for a couple of hours.....it was sheer hell........Youtube it.

 

xrxs's picture

And you're making a very healthy 0% on it. Congrats!

GunnerySgtHartman's picture

- The real problem of Deutsche Bank is its exposure on derivative market. The sum of just under 55 trillion EUR is 20 times bigger than the GDP of Germany. -

 

55 trillion EUR? Damn, talk about exposure.  Sounds like they're counting on a government bailout when the house of cards collapses.

Arnold's picture

-

-

From the ECU?

Hello, Operator calling Greece?

rosiescenario's picture

"The real problem of Deutsche Bank is its exposure on derivative market"....

 

"The real problem rests with all those poor souls who are counter parties to DB's derivatives"

 

Perhaps such a massive issuance of derivatives was done by DB to insure that the bank gets a bail out? Just might work.

 

 

Tall Tom's picture

 

 

 

 

"The real problem rests with all those poor souls who are counter parties to DB's derivatives"

 

Perhaps such a massive issuance of derivatives was done by DB to insure that the bank gets a bail out? Just might work

 


Smoking Hopium? That shit is addictive.

 

There is no Financial entity on the Planet that can bailout DoucheBunk.

 

While I realize that the $60 Trillion is notional that figure is staggering. Even if 10% of the Derivatives went bad...That is still a whopping $6 Trillion.

 

For comparison the US National Debt is roughly $20 Trillion officially.

 

Our taxpayers cannot take that type of financial hit and politically selling a Foreign Bank Bailout in a timely fashion just would not be possible.

cro_maat's picture

Tall Tom - I believe that is only 60 platinum $Trillion coins. These are being ordered as we speak. ;)

ANestIOS's picture

It is a Greek bank really!

 

(even only to the extend it is been staying afloat through the "greece bailout" money

DetectiveStern's picture

Deutsche duplicated 1000s of payments yesterday for us not sure if they have for other banks who use their clearing service but may explain the lack of cash!

wildbad's picture

so what..the cash belongs to them after all.

whatch Brexit The Movie here:

https://www.youtube.com/watch?v=bSYrHt1LNkA

nibiru's picture

True but Brits may value their pride higher and actually vote to leave - especially that right now DB holds derivatives worth more than 10x the EU's GDP. 

source: http://independenttrader.org/the-most-important-events-of-march-2016.html

froze25's picture

@Wildbad, good video. Thank you.

Fips_OnTheSpot's picture

And on top they're now shutting down all customer terminals: (allegedly only over the weekend...)

http://www.tagesspiegel.de/wirtschaft/softwarefehler-deutsche-bank-schal...

Secret Weapon's picture

This is serious if true.  Could not find an english translation of the article. 

financialrealist's picture

Glitch or no glitch...the canary is gasping...

SubjectivObject's picture

I've seen Glitch post here.

The fact that he has not posted yet is telling.

How'd ja do it Glitch?

gm_general's picture

"It comes nude" it says above - are German ATMs displaying porn now instead of dispensing money?!

Dr_D's picture

You really dont want that to happen when there are already rumours in the market about your liquidity situation..

BettingTheFarm's picture

And to dispel myths of a technical glitch with a software update. You don't update software on days when highly watched govt statistics are published.

 

It's fascinating that the news of this outage happened at the exact time the jobs data was released, as if someone was waiting for the print to decide whether to push the "stop the ATMs and publish excuse" red button.

 

I think the timing of the "bug" is extremely suspicious.

RozKo's picture

Time for a bank holiday, get ready to run for the hills...

Arnold's picture

-

- No News here.

Deutsche eurobank is fucked.

SubjectivObject's picture

The technicals on their derivative turned bad for them.

Glllllllllllitch!

budd_dwyers_gun's picture

Muppet: "Should I be worried about Deutsche Bank in terms of liquidity and get my money out?"
Raving Lunatic: "NO! NO! NO! DEUTSCHE BANK IS FINE! DO NOT TAKE YOUR MONEY OUT.. [inaudible gibberish] Deutsche Bank is NOT in trouble, i mean if anything.. [more screeching lunacy] DON'T MOVE YOUR MONEY FROM DEUTSCHE, THAT'S JUST BEING SILLY. DON'T BE SILLY!"

Tall Tom's picture

 

 

 

 

You had best understand that having deposits at ANY Bank is NOT SAFE...

 

When...WHEN DooshBunk implodes it will take down the ENTIRE GLOBAL Banking Cartel with it. 

 

There will be NO WORKING ATMs on the Globe. Point of Sale Terminals will be inoperable and REMAIN inoperable.

 

WHEN DooshBunk implodes then it will be totally EVIDENT that they have LOST ALL CONTROL.

 

The Global Derivatives Market will meltdown.

 

May God forbid that you are distant from your home WHEN this happens.

 

This event will cause a Credit Freeze from which there will be NO RECOVERY as Banks will not float loans to others because the SOLVENCY of other financial institutions cannot be assured. Nobody will be able to assess the EXPOSURE to the ramifications of the Derivative Markets Meltdown.

 

This one event will make these current days appear as the good times. The Lehman Bros collapse will not even register when compared to the scale of magnitude of this one event.

 

I'd be more concerned about flying nuke warheadss than tanks in the street. But that is just me...After all I have a Doube Digit IQ. What do I know?

budd_dwyers_gun's picture

Preaching to the choir, brother. I've not had a single interaction with a commercial bank since 2011. Got fucked over by Arvest (the good old "Lets change the clearance order to charge tons of $70 overdraft fees even though you're not even NEAR $0.00") circa 2008, and switched to my small-town credit union after paying Arvest their extortion fees. One day, got a letter that my CU had been bought out by some big national holding co, cashed out my checkings and savings, and haven't looked back.

 

As this place has truly pounded into my head, "IF YOU DON'T HOLD IT, YOU DON'T OWN IT." 

Quinvarius's picture

Technically they are out of money.

Tall Tom's picture

 

 

 

 

Technically all Banks are out of Money.

 

The whole system runs on Faith and Confidence without any core assets.

Arnold's picture

--

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 Thanks TT, but no news here.

-

Kagemusho's picture

Next will be withdrawal limits. That s, if DB doesn't crash and burn, first, and close its doors.

Vinividivinci's picture

@Kagemusho...
Don't you get...this "glitch" may very well be that "moment".

Kagemusho's picture

I'm expecting it. The rock has already been pitched into the pond, and I'm waiting for the first waves from the impact point to begin spreading outwards. The strength of those waves will be dependent upon just how big a rock was thrown.

DB has been strenuously trying to hide its weaknesses, and despite all the recent revelations, who knows what they have been successful in hiding up to now.

. . . _ _ _ . . .'s picture

9 meals and counting.

losses mount's picture

That's why I have 10,000 with my passports for that got to go now moment when it comes.

If one passport doesn't work the other might.

I'd have to leave the silver behind though as it's too heavy to carry.

Cambodia is a good place to go by the way.

Kagemusho's picture

Uh, you might want to take a look at this, though: Revolution At The Ranch http://www.acting-man.com/?p=44964

These guys had the same idea, and set themselves up a place in Argentina. Looks like they didn't bribe enough locals, as some of them are taking over their bolthole. Just as those who have their PMs in foreign vaults may find those vaults confiscated by the governments of the countries those vaults reside in.Who's going to stop them? You'll have a piece of paper saying you have rights to it, they'll have guns and say you don't.

Playing the ex-pat bugout game come the crash may become a crap shoot, with the local immigration authority waiting to strip you of your expected wealth the moment you enter the country. No place will be completely safe from government piracy of your wealth unless you want to live in Antarctica.