This morning RBS and Natwest opened more than 1,000 branches early to deal with the fallout of their IT glitch. We put questions to the banking group to see how they plan to stop this from happening again.
Q. Could the security of my account have been compromised due to this latest IT glitch?
RBS/Natwest answer: We take our customers’ security very seriously and we will never ask them to disclose security details or personal information. We urge our customers not to click on any links and attachments within suspicious emails and to report a suspicious email to us by emailing firstname.lastname@example.org or email@example.com. Or if a customer thinks their accounts have been accessed online by someone other than themselves, they should contact us immediately by calling us or by contacting one of our branches. We also have more advice online on how to deal with Phishing.
Q. Can RBS clarify its position on what it’ll be reimbursing people for? Can people claim for loss of earnings if they haven’t been able to get to work as they have no access to their money? Can they claim phone charges back if they’ve been on the phone to RBS trying to sort out the issue?
A. No customer will be left out of pocket. We will pay back all fees and charges incurred and for out of pocket costs, we will look at each claim on a case-by-case basis. Customers should get in touch with our call centres or come into our branches, where our staff will be ready to help.
Q. Many customers have reported payments made into their account not being credited, or payments made from their account not being credited – what’s happened to their money/transactions?
A. We have heard from some customers who are still experiencing problems as our processes and systems get back to a fully normal service. If any customer is experiencing issues they should get in touch with our call centres or come into our branches, where our staff will be ready to help.
Q. Why does this keep happening to RBS?
A. For decades, RBS failed to invest properly in its systems. We need to put our customers’ needs at the centre of all we do. It will take time, but we are investing heavily in building IT systems our customers can rely on. We are sorry for the inconvenience we caused our customers and we know we have to do better. We will be outlining plans in the New Year for making RBS the bank that our customers and the UK need it to be. This will include an outline of where we intend to invest for the future.
Q. Are you confident it won’t happen again?
A. As the IT incidents over the last year have shown, building and maintaining a top class infrastructure is fundamental. Our customers deserve banking services that work 100% of the time. We have already committed to spend an additional £450m on improving our systems, on top of our £2bn annual IT spend.
Q. What is RBS going to do to restore confidence in its banking systems? And what would RBS say to those customers who are now looking at other banking arrangements?
A. We understand the frustration of many of our customers. The service we have provided is not acceptable and we are working hard to put that right and to rebuild their trust. From the experience last summer we have made decisions to invest significantly in our technology and we are part way through a multi year programme to invest billions of pounds in the technology. We and other UK banks use legacy systems, we need to replace and improve those systems and that is what we are doing but we deeply regret the inconvenience that customers have had.
Q. Apparently then CEO Stephen Hester promised customers he would report fully to customers on the problems and what RBS were doing to avert the issue again when it happened in 2012. If this is correct, what happened to that report?
A. We remain fully committed to publishing the relevant findings of our independent review into summer 2012’s IT problems. However, the FCA (our regulator), announced on 9 April 2013, an enforcement investigation into the incident. We will therefore share the findings of our root cause analysis on completion of that enforcement process.
Were you affected by RBS or Natwest’s IT glitch? What problems did you experience? Were you happy with how they dealt with your problem?