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- The hitch came a fortnight after the RBS computer breakdown
- Thinkbanking forced to provide emergency cash to those affected
Thousands were left out of pocket yesterday after the Royal Bank of Scotland was at the centre of a new computer meltdown. About 100,000 customers of Thinkbanking, whose accounts are held by RBS, did not have their balances updated because of a technical problem. The hitch came a fortnight after the RBS computer breakdown left millions of customers of NatWest, owned by RBS, unable to access their cash....Read more here: Second RBS computer glitch hits bank¿s savers as 100,000 customers' balances are not updated
Royal Bank of Scotland (RBS) will on Friday outline a financial hit of about £300m from its role in the industry's spate of mis-selling scandals and the IT meltdown which left millions of customers unable to access their money. I have learned that RBS will say in its half-year results that it is increasing its provision for compensating customers who bought payment protection insurance (PPI) from the bank by about £130m. That increase will take the total impact of the scandal to date for the state-backed lender to close to £1.2bn. Unlike some rivals, however, RBS will not make a significant provision for compensating the victims of interest rate swaps mis-selling. Bankers tell me that RBS will set aside just under £50m for that, versus a much larger sum of £450m announced last week by Barclays. Insiders said that the discrepancy - given that RBS also had a big share of that market - was due to differences in the way the banks were deciding to account for the potential cost of providing redress to customers.....Read more here: Exclusive: RBS Faces £300m Hit