herald

Monday 18 December 2017

Bank glitch must be sorted fast

THE collapse of the computer system at Ulster Bank shows just how much bank customers are at the mercy of technology. Even more alarming is the fact that there is no prompt fix for the biggest banking IT failure the country has ever seen.

It is likely that the three-day old problem will not be sorted until well into next week, as the bank struggles to deal with a backlog of transactions.

In the meantime thousands of workers have been left without wages and thousand of social welfare recipients without their money.

Transactions to and from customer accounts have not been recorded since Tuesday night -- so huge numbers of customers will technically fall into arrears for payments like mortgages and utility bills.

In situations like this, institutions awaiting payments should show flexibility and not penalise those who fall behind because of this glitch.

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