Ulster Bank Systems Down, Many Left Without Money

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Yes, the Central Bank and Regulator were asleep at the wheel previously but that doesn't mean they should keep stum now.

Ulster Bank deserve all the criticism levelled at them right now and more besides.

If they come out and say exactly what happened and why then they may gain some credibility but I cant see them being honest about it.

Some low level cog will no doubt get the chop but the buck should stop at CEO level.
 
The_Banker said:
Ulster Bank deserve all the criticism levelled at them right now and more besides.
............................. but the buck should stop at CEO level.
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These are a series of some of the most ridiculous posts I have ever read. How can it be said that they deserve all the criticism levelled at them ?? This is the one bank that kept the banking system going at the height of the crisis,

And as for the buck stopping at CEO level, in that case a lot of other heads should of been on the chopping block first. Like the AIB Ceo who publically declared that the Bank did not need any more money and about a month later the Bank was insolvent. And for BoI the Ceo who openly declared his salary on the News at one, that his salary was a phenomenal six figure sum. These are the Bankers that should have got a boot up the This post will be deleted if not edited to remove bad language. The UB problem we have been led to believe is a computer problem. The head of IT should go but not the CEO. And regardless most people bank with the AIB or the BoI so they are not really effected.

Yet again the Irish Media has made a complete charge on its own economical misgivings, but have forgotten that the UB is in essence a UK Bank.
 
My salary is due into my UB account Thursday - as it seems the problems may take until the end of the week, would it be prudent to lodge cash into my account to cover any D/D's etc. to cover monies which are taken around the 1st/2nd of the month. I just don't want to have the hassle of missed payments. Putting in cash should register in my account right away shouldn't it - or will it make any difference if the problems are not resolved?
 
I think you will find that the CEOs of AIB and BOI that you refer to have already gotten the chop, albeit with generous pay offs and pensions.

This UBL issue is now in it's second week and a resolution won't be in place until the end of this week. That is unacceptable.

People have had to leave trolleys of groceries behind after their cards didn't have the funds and people are abroad awaiting salary payments.
People who are on social welfare who live from week to week haven't been paid and you Mercman are alluding to this as nothing more than a storm in a tea cup.

It's unacceptable and heads should roll.
 

From reading other forums Harry31 it seems that deposited cash is getting credited to accounts straight away so that might be the way to go.
 
Many thanks Banker - I'll do that tomorrow, I'm lucky that I can afford to do it. Hopefully it'll prevent anything being missed. I feel sorry for the front line staff in UB, I know they will be doing their best.
 
The_Banker said:
I think you will find that the CEOs of AIB and BOI that you refer to have already gotten the chop, albeit with generous pay offs and pensions.
Click to expand...

These persons should have got jail. And as a reminder who is paying for their generous pay offs and pensions -- the people of Ireland.
 
I'm humbled. At last we agree on something. As your identity name suggests, maybe it would be fitting if you started a new thread on this subject !!!

Whether we like it or not the Politicians of the last Government took the full brunt of the people's unease. Maybe it is now time to refocus the entire debacle on those that caused the problem-- for once and for all.
 


As my name suggests, yes I do work for a bank. But as a low level drone in Sector G of an I.T Dept. Bottom rung of the ladder.
I never made a work related finance decision in my life.
 
Salary payment has come through today to my bank from UB. It was due last Friday. My employer is large company that banks with UB.
 
It seesm as if this IT "issue" is affecting a lot more than peoples balances and day to day banking needs, i am trying to draw down a mortgage from UB at the moment and

-their mortgage system software cannot print a letter of offer (hence this could delay a house purchase which i am in the middle of)
-they cannot give me an IBAN or swift code for my account

i have asked them about their contingency or "Backup" and have not yet got an answer on this, the local bank Manager has attempted to be very helpful but seems to be no wiser on the resolution of this.

I cannot believe they did not test this IT "patch" offline or on a validation system to prove it works before applying it.
 
I read over the weekend that mortgage payments to Ulster Bank were still going through ok! I have a mortgage with Ulster Bank, and have a standing order set up from AIB account. Nothing was taken out today from AIB account.

Should I be concerned? Havent see it mentioned anywhere else. (don’t want it effecting credit rating)
 
Ulster bank and Natwest are owned by Royal Bank Of Scotland. The chief execs of RBOS outsourced all of their IT work to Chennai in India three years ago. Union chiefs warned them of the potential catastrophic reaches of such a decision. Staff in Parkgate Street Dublin were all made redundant. Staff in Edinburgh were made redundant also. Overall over 1000 experienced IT staff were let go. Now the chickens have come home to roost
 

Yes, that is the general consensus among us I.T Banker drones.

Fred the Shreds shadow still looms large across the RBS Group.
 
Ulster bank money desk deposit - no access for now

Went into UB today to try to collect my money after a 1 year fixed money desk deposit matured more in hope than anything else. No joy. Cashier offered me 500 euro cash to keep me going. Told to come back at the end of the week when hopefully (?) all will be sorted but was not convincing. Looked like total chaos, queues out the door etc. Just to warn others who may be expecting to get access to their savings this week - dont bother trying for the moment.
 
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