said that there was “no evidence” that outsourcing had caused the problems."

Ahem.....RBS computer failure 'caused by inexperienced operative in India' - Telegraph (http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/9358252/RBS-computer-failure-caused-by-inexperienced-operative-in-India.html)


"The “inexperienced operative” accidentally wiped information during a routine software upgrade, it has been claimed.

The member of staff, who was working on the programme for the Royal Bank of Scotland, NatWest and Ulster Bank, is believed to have been based in Hyderabad, India.

According to technology website The Register, at least some of the team responsible for the error were recruited in India following redundancies in the department in the UK.

Unions have already blamed the fiasco on the decision to outsource much of the company’s IT jobs (http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/9355467/RBS-computer-failure-condemns-man-to-spend-weekend-in-the-cells.html), as Indian staff are paid as little as £9,000, compared with £50,000 their British counterparts were paid."


Strange, the Bank-Run thread has disappeared .................:rolleyes: It shows up on giggle though.

There is a certain amount of poetic justice to this story.

I hope it costs them a fortune, problem is, they'll only pass on that cost to their customers so the poor saps end up losing twice.

" I hope it costs them a fortune, problem is, they'll only pass on that cost to their customers so the poor saps end up losing twice. "


" The bank has already promised customers will be reimbursed for the cost of fines or late payment fees incurred as a result of the delays. (http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/9355638/Royal-Bank-of-Scotland-computer-glitch-QandA.html)Banking experts said that the cost to RBS of dealing with the IT problems, including extra staff costs as well as the money to reimburse customers, is already likely to be between £50 million and £100 million.

is already likely to be between £50 million and £100 million.

and you don't think it's customers will end up paying a proportion/all of this by means of increased charges etc?

I'll try to keep this all public domain.

A few things in this story don't stack up, RBS main IT centre in India is in Gurgaon not Bangalore.

Not that long ago Unite was complaining about how much IT workers earned,

Rogue RBS email reveals part-time contract staff paid half a million a year | This is Money (http://www.thisismoney.co.uk/money/news/article-2029521/Rogue-RBS-email-reveals-time-contract-staff-paid-half-million-year.html)

Aviation owes RBS a great deal, until recently they employed Andrew Lobbenberg Andrew Lobbenberg | LinkedIn (http://www.linkedin.com/pub/andrew-lobbenberg/44/1a0/488)
one of the few airline commentators who could be relied on. He now works at HSBC, so if anybody has access to HSBC's research output should take any opportunity to read it.

Stephen Hester rides to hounds and thereby does his duty to reduce urban vermin.

Not questioning you, I agree 100%.

"Banking experts said that the cost to RBS of dealing with the IT problems, including extra staff costs as well as the money to reimburse customers, is already likely to be between £50 million and £100 million.

I just wonder how may customers will actually be reimbursed.................

I wonder how many will change banks - although there are arguments as to whether any are better.

I've banked with NatWest for 40 yeras and have been considering changing banks for about a year but have come to the conclusion that only one, or possibly two, are better, and changing to either of those would cost me hundreds of pounds extra per annum in charges. As it happens, I have not been affected by this NatWest outage other than that a transfer due to me has been delayed.

I think it shows an unacceptable and almost incredible level of incompetence and poor management that this has happened.

The US Telephone companies is what the Banks aspire to. You don't have to be good, you don't even have to be competent. You just have to be capable of marketing yourself as slightly less crap than the rest.
Nobody with a small amount of capital can enter the market. There is no incentive for anyone competent to enter the market, since they can just buy an existing company which makes more money than a competent operation would.

What this fiasco tells me is that their Disaster Plan and the Business Continuity Procedures were either inadequate or non-existent. The level of incompetence behind this event beggars belief. The CIO must now commit ritual Hari Kiri and the CEO should replace the entire senior management of their IT Department.

Interesting to note that on the same day (or possibly the day after) this occurrence, there was a news bulletin on BBC Radio that MI5 had warned of a large increase in cyber attacks on government establishments......

I just wonder if the reason put forward wasn't exactly the whole truth! Would a responsible organisation actually have let a junior IT person have access to the main system without necessary safeguards and oversight being put in place?

Would RBS admitting a successful cyber attack had caused the problems have caused mass panic amongst customers, and bring the bank down?

Stephen Hester has that sleek, well-nourished, smooth-shaven, expensively suited appearance that make you want to stick him on the back of a tumbril and drive him to Tyburn through a jeering crowd!

I expect we'll have to make do with him forgoing his enormous bonus for one year only :*

http://i1.mirror.co.uk/incoming/article673950.ece/BINARY/Backlash:+There+is+still+fury+over+Stephen+Hester's+pay+packet

If Alex Salmond gets his way and achieves home rule let's hope that RBS doesn't have a hand in it, they will soon come running back to the union for hand outs if they do.

flying - lid - in the absence of a tumbril that would do :ok:

mm, I used to support systems like this until I got made redundant 7 mnths ago, (not for RBS, but for another v.large worldwide financial co.)
This is about right, read the comments, I used to use the same scheduler and we never made a c*ck-up like that.
'Inexperienced' RBS tech operative's blunder led to banking meltdown ? The Register (http://www.theregister.co.uk/2012/06/26/rbs_natwest_ca_technologies_outsourcing/)

What a bloody cock up ... paid last Friday .. yes its there ... oops its gone missing ... oh its back ...oops gone agian ...oh now its back !!!

I'm an RBS customer, about to become a Santander customer by defualt because of the back room dealings ....

Santander have a most dreadful reputation for customer sevice (in my humble experience) they bought an interest in RBS because RBS was rumoured to have 'good customer service'

You can just see where this is going to end up in the future ... any suggestions for other banks?

Email exchange between myself and a company who owe me money.

>
> Oddly enough, I've had no problems accessing mine online, also drew
> money in Surrey last Thursday, and transfers out have been processed as
> normal. I don't know if my a/c being offshore means it's on a
> different mainframe.


The business accounts have been taken over by Santander !!!!!! hence
the problem !!!!

... any suggestions for other banks

Yes, forget banks altogether and use a mutual society like Nationwide.

stumpey,

Ah yes.... the rose tinted spectacles of those who stick their cash in the societies.

Would your beloved Nationwide be the same Nationwide that incurred £800 million of write-downs and losses during the sub-prime crisis and lost £100m on SIVs.

They're all as bad as each other my dear.

Oh, and before I go, remind me again stumpey..... what was North Rock previously known as ? Surely not the Northern Rock Building Society per chance ? :E

Mixture. And your positive contribution to this thread is what then?

forget banks altogether and use a mutual society Having no company pension scheme and being prevented from investing in "qualifying pension scheme" back home in UK. I did my pension saving in an old established Scottish Mutual Trust Fund. Then Gormless gordon changed the rules and regulations, allowing "de-mutualisation". Along came a bank that used to be a building society, who bought the Mutual trust, demutualised it and dumped all their dodgy assets into the offshore fund.

There's no such place as a safe haven, especially when there are Banksters around, looking for ways to help themselves to your cash.

Just watching the news at the moment, seems like a lot of bankers or should that be *ankers could be in a lot of trouble. We will wait and see.

We will wait and hope.

Fixed it for you, SOPS.

Thanks Magnus:p

stumpey,

I was merely correcting your point of view on societies such as Nationwide by pointing out a few truths you may have omitted from your carefully worded statement !

Blacksheep has just told you the same thing too.

" I hope it costs them a fortune, problem is, they'll only pass on that cost to their customers so the poor saps end up losing twice. "


" The bank has already promised customers will be reimbursed for the cost of fines or late payment fees incurred as a result of the delays. (http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/9355638/Royal-Bank-of-Scotland-computer-glitch-QandA.html)Banking experts said that the cost to RBS of dealing with the IT problems, including extra staff costs as well as the money to reimburse customers, is already likely to be between £50 million and £100 million.

Ah that will be us, the UK taxpayer AGAIN :mad:!!!!!:mad:

I wonder how many pilots are in the air today because of a slight error with rm -rf

As another "victim" of the Santander takover, I can make a suggestion!

RBS was an old-world, ethical bank until Fred the Shred got his hands on it, bought Naff Wets and incorporated all their worst traits into the RBS ethos.....

Well, my friends, the dagoes DID NOT BUY RBS SCOTLAND....just MOVE your ACCOUNT to RBS SCOTLAND.....not saying they're going to be as good as the old, moral and ethical RBS, but bound to be better than "Sand in there"