Bank of Ireland says technical issues have been resolved
Bank of Ireland has said the technical issue that impacted a number of its services have now been resolved.
Last night, queues formed at ATM’s nationwide after rumours spread online that a glitch was enabling Bank of Ireland customers to withdraw more money than they had in their accounts.
The glitch allowed customers to transfer up to €1,000 from their account – even if they did not have the funds. While banks typically limit the amount that can be withdrawn from an ATM to €500, many people were able to transfer at least twice that sum between their Bank of Ireland and Revolut accounts. Using their Revolut cards, they could then withdraw the money from Bank of Ireland ATMs.
Bank of Ireland has since confirmed that anything transferred or withdrawn will be applied to customers’ accounts today.
Meanwhile, the Bank said there will be “no customer detriment in relation to interest” for those who withdrew money from their accounts following the glitch.
It also asked any customers facing financial difficulty due to overdrawing on their account to contact them.
In a statement, Bank of Ireland said: “We sincerely apologise for the disruption this outage caused – we know we fell far below the standards our customers expect from us.”
Garda presence
Last night Gardaí were deployed to ATMs in numerous locations across the country. A garda spokesperson told The Journal today that their direction was to ensure public order and public safety after becoming aware of large queues forming and an issue at a financial institution.
The Central Bank has also confirmed that it is monitoring the situation: “We are engaging with Bank of Ireland to ensure that any issues and errors identified are resolved for customers, and that it is doing all it can to ensure customers expectation of a high quality, uninterrupted service is met,” said a Central Bank spokesperson.
The Central Bank advised customers to contact Bank of Ireland if they have concerns about their service.
Minister for Finance Michael McGrath has asked the Central Bank to establish a full account of the events leading to a significant glitch.
In a statement, the Minister said: “Given our growing dependence on technology for the delivery of financial services, I have asked my officials to engage with the Central Bank on its assessment of the robustness of this Bank of Ireland incident, and more broadly the robustness of the technology systems used by regulated, customer-facing financial service providers here in Ireland, and whether any further steps are required to reduce the risk of outages that impact on customers.”
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