With RBS' ATMs Still Busted, Bank Generously Allows Customers To Withdraw Up To £100 Over Limit

Tyler Durden's picture

6 days... and counting.

From RBS:

25th June

We’re making progress in putting things right and will keep 1,200 branches open until 7pm 25th June and from 8am-6pm for the rest of the week.

We have arranged for our customers to be advanced cash in our branches when they were missing payments and had no available funds.

All ATMs and point of sale transactions are still available.

All our current account customers who have an RBS, NatWest or Mint credit card in good order can now also:

  • withdraw up to an additional £100 over their limit, with over-limit fees or charges automatically waived or refunded
  • withdraw cash on their card with cash advance fee as well as one months worth of interest waived or refunded

So generous of the bailed out bank.

Putting things into perspective:

  • RBS CEO SAYS `NEWS TURNING BETTER' TODAY ON GLITCH, SKY SAYS
  • RBS TO KEEP 1200 BRANCHES OPEN UNTO 7 PM IN UK
  • RBS CEO HESTER SAYS ACCOUNTABILITY ON GLITCH WILL INCLUDE BONUS - his, or some 1st year technician?
  • RBS CEO SAYS `OUR PEOPLE HAVE JUST BEEN STUNNING' SKY SAYS - ATMs... not so much
  • RBS CEO SAYS COMPUTERS `SOMETIMES GO WRONG' SKY SAYS - luckily, computers are not in charge of $15 trillion in market cap

But don't run to your nearest branch demanding your money, because...

  • RBS CEO `SORRY FOR INCONVENIENCE' OF COMPUTER GLITCH SKY SAYS

And just like that, everything is better.

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Stoploss's picture

I had no idea people haven't figured this out by now.

Too late..

Deo vindice's picture

It's never too late to wake up. But the longer you sleep, the more you miss.

Harlequin001's picture

So, as far as I can see it, worst case is that if this 'glitch' gives all my money to every body else in the same way that tax policy does?

Who gives a fuck? Things can only get better eh...

veyron's picture

Which is worse: pound or euro?

DoChenRollingBearing's picture

Tell us veyron...  

I'll stick with the dollar and with gold.

Matt's picture

If this is a glitch, then RBS must have the most incompetant management and IT people on Earth.

You know what you do when your software update is glitched? Revert to previous version. The data (balances, payments, etc) should be seperate and should not be impacted.

So either they are completely useless, or they are completely out of money.

Bananamerican's picture

when/if this glitch is over, what are the odds of a post-glitch run on RBS?

prains's picture

somebody pulll his underwear up over his head

Aziz's picture

And all the socialists said that governments should nationalise the banking system...

 

Pladizow's picture

Testing a cashless society?

Harlequin001's picture

I'm telling you, this is Iran, getting us back for fucking up their centrifuges...

DeadFred's picture

Perhaps there's a reason why Syria felt free to shoot down a NATO jet and own up to it. China and Russia have their share of genius hackers I imagine. Sorry, my paranoid side has had too much coffee this morning.

Alea Iactaest's picture

Well at least the SWIFT system is still working.

William113's picture

I don't believe any pilot was in the jet. I think its was a drone flown into Syria airspace so these suck holes could start another war. Yup we gotta save the 800 pound gorilla in the Med. AGIAN.

Matt's picture

Who constitutes "we" and whom did "we" save Turkey from last time?

MarsInScorpio's picture

Maybe the reason for this has nothing to do with a virus, and everything to do with a lack of money in the bank's coffers . . .

 

Just a thought.

-30-

pods's picture

I wonder if the Stuxnet virus decided to try it's hand at ATM work?

pods

GeneMarchbanks's picture

When this gets fixed I'm sure Moody's will be waiting with an upgrade.

Mr Lennon Hendrix's picture

Gene is long AUD and short gold lol and he likes to be popular on Mondays and rip on the banks lol

GeneMarchbanks's picture

Hey Pal, actually you missed that a little. I'm out of FX altogether at this point but did pick up some Au puts pre-'Nanke which are looking promising, EURUSD might confirm it very soon.

 

GeneMarchbanks's picture

You gotta stop capitalizing the "b". Maybe then it'll actually be as funny as your dyslexia ;)

fuu's picture

Wow the chat crew is all up your ass this morning.

Bay of Pigs's picture

Maybe Gene just needs to be held accountable for what he says?

 

Bay of Pigs's picture

I've read where he says that Europe and the Euro are doing "fine". I thought he was joking. 

He also said the Euro will be "world reserve status" before long. Who knows, maybe it will after they kick the PIIGS out?

BoNeSxxx's picture

Long time no see pods... where have you been hiding?

pods's picture

Busier than usual both at work and at home.  Still poking around ZH for the headlines though!

Lost my garden fence controller either to Stuxnet or the ten thousand ants that decided to make a nest in it.

Cast Iron Skillet's picture

The ants were infected with stuxnet.

Cognitive Dissonance's picture

"I wonder if the Stuxnet virus decided to try it's hand at ATM work?"

Firmware bitches.

I've wondered this myself. Skynet awakes?

Most people know what software and hardware are. But very few know about the small embedded programs in nearly all servos, motors, card/disk/ROM readers, mechanical feeders etc that rely upon onboard instructions in order to interact with the main operating system. This applies to more than just ATMs, but nearly all electronically controlled devices......which is pretty much everything today.

Think of it as one level down from the BIOS (Basic Input Output System) which is below the operating system (most likely Windows) in the computer you're using now. Without it all you have is a bunch of electronic components that don't know how to communicate with each other.....aka a fancy door stop. 

HungrySeagull's picture

You are missing out one little thing.

A circuit needs to be closed to run electricity through a device.

Instead of great humming monsters, we have quiet computer chips waiting to slit the throats of the entire human race.

EscapeKey's picture

A bunch of Danish banks - including dominant Danske - just suffered "disruptions" as well, though they apparently succesfully recovered their backups.

Makes you wonder which parts of the software have been written by a centralized provider.

http://epn.dk/teknologi2/computer/article4733464.ece

Run it through google if you're interested.

CreativeDestructor's picture

this is actual test of bank holidays and cap controlls. this is how they gonna do it!!!!

TrainWreck1's picture

Quite. So much for relying on ATM's in the event of any crisis - anywhere.

reload's picture

My Business has an account with Nat/West RBS where we park money earmarked for Taxes. There is a meanningful sum in there currently, but I was unable to transfer it out via the Internet Banking function. Just off to the branch now to ask for cash - no way will they have enough on site. I dont see why they could not have it ready for tomorrow morning though - unless they are really bust. Fingers crossed. 

Zaydac's picture

I'll be surprised if you get cash, if it's over £3k. Given the date I assume it's VAT. What are you planning to do, draw it as cash and pay it in somewhere else as an OTC credit to HMRC? Be interested to know if that works. And even if it does I bet it rings an alarm bell and you get a VAT inspection, "Well now, what's all this cash you've paid in, where did it come from Sir?"

HungrySeagull's picture

I would not be surprised if you have to fight for every imaginary money.

I set up a series of accounts to bypass internet banking limits such as max number of withdraws (Transfers) a month.

Instead of three limit, I keep 4 savings account so I can cascade them with 12 total.

They used to say dont write a check your ass cannot cash, now I say Don't tell someone to cash what you cannot click.

reload's picture

Well, back from the bank. Nothing like the cash I wanted on the premesis. So I said, can I have it in the morning? eeeerm the teller said "we need the managers authorisation to order in that much" I said "Ok then" but it was not Ok, because he was allegedly not in the building! "can you get him on the phone"? I said. Several tellers went into a huddle, before deciding to ask me to come back in the morning. So I asked for a Bankers Draft for the total contents of the account. Unwillingly they gave it me, and I walked it over the road to our account at HSBC. Probably not much safer there either, but at least it shows Nat West that some customers are far from convinced by their excuses.

Next step. I am going to ask our accountant if we can store reserves in precious metals (physical of course) I bet there is a law against it, or some tedious regulation that we must change our articles of association. But it would be great if we could and if the price went down - hey presto a tax loss! Has anybody else considered this, or even done it? I think I prefer a tax loss to vapourization. We probably already have enough insurance and security to manage the ammounts involved.

Debugas's picture

i would suggest you keeping some actual cash reserves in a safebox for company operatianal needs before you resort to precious metals :)

metals are not that much liquid as cash

 

Paying wages with actual cash is also a good idea

Deo vindice's picture

We are all one extension cord / computer glitch away from going back 100 years in lifestyle. Turn the power off and 95% of the population is truly paralyzed.

nonclaim's picture

I can turn this around and say 95% of the population is already paralyzed by electronic entertainment. A glitch is welcomed... at century old/back lifestyle will make them at least fit.

ParkAveFlasher's picture

Tell you what, cut the power on 5 million say, NYers now and you won't have a nicey nicey lovefest like you had last NYC blackout, with citizens directing traffic and picking up strangers to cart home and having BBQs.  You will have massive rioting and looting and lawlessness.  People are pushed too far.

nonclaim's picture

Ok, you and CaptainObvious below have a point and even a heart for the weaker ones.

I'll advocate for a period, couple months, of daily frightening brown-outs to allow people to prepare.

CaptainObvious's picture

" at century old/back lifestyle will make them at least fit."

Nah, it would kill most people.  People who aren't fit will have heart attacks when they try their hands at manual labor.  People dependent upon modern pharmaceuticals will drop like flies.  People who think food is made in the supermarket will starve to death.  I don't want to witness that and am not in any rush for it to begin.

Mitzibitzi's picture

You better pray for divine intervention, then, cos that's exactly what were gonna get in the end. The only variable is how long the remaining section of road is and how hard the can kicks will have to be to keep things moving until we reach it. It's 'When', most assuredly not 'If'.

CaptainObvious's picture

I know it's a matter of "when", not "if", else I would not be posting here.  I am just not in a hurry for it to start.  Gives me more time to stack, you see.