Hester gives up RBS bonus

Stephen Hester, the boss of Royal Bank of Scotland, has said he will not take his bonus this year after IT problems left thousands of customers struggling

Live updates

Helplines for Natwest, RBS and Ulster Bank customers

RBS Group, which owns Natwest and Ulster Bank, is directing all urgent requests to the following helplines.


RBS cancels Scottish one-day golf tournament

Royal Bank of Scotland has cancelled a one-day golf tournament in Scotland tomorrow, in the wake of an IT meltdown, after it had just announced postponing its corporate hospitality at Wimbledon. The tournament was due to feature golf legend Jack Nicklaus at Gleneagles.

An RBS spokeswoman said that sponsorship of sporting events is unaffected.

RBS withdraws hospitality at Wimbledon

Royal Bank of Scotland has cancelled its corporate hospitality at Wimbledon this year, in the wake of an IT meltdown which left thousands of customers without access to cash. The bank said in a statement:

We have made significant progress in resolving the issues and are working around the clock to put things right for our customers.

Under the circumstances, we felt it would be inappropriate to provide client hospitality at Wimbledon. Our people are focused on resuming normal service for our customers as soon as possible.

Treasury Minister: 'RBS are keen to learn from their mistakes'

The Royal Bank of Scotland has learned the lessons of the recent computer meltdown that left millions of customers unable to withdraw their money, Treasury Minister Mark Hoban said today. Speaking to the Commons, he said that he had spoken to RBS chief executive Stephen Hester.

Treasury minister Mark Hoban tells the Commons about RBS Credit: PA Wire

Mr Hoban said: "I know that RBS are very keen to learn the lessons from these problems and put in place contingency arrangements for the future."

He said those who have lost money because they have been unable to access their funds should write to the part-state-owned bank with their claim.


Financial Ombudsman: NatWest problems 'will take time' to resolve

A spokeswoman for the Financial Ombudsmen Service (FOS) said it would "take time" before customers see the issues put completely right and she urged people to keep a record if they have found themselves out of pocket.

She said the sheer numbers of people affected were one reason for the process taking a while, adding: "They will have to look at each individual situation."

People can complain to the FOS if they cannot work problems out with their bank. The FOS said it is not currently dealing with complaints on the issue as the bank must look at them in the first instance.

The ombudsman, which receives several thousand calls a day generally, said that roughly around 10% of the calls currently being dealt with by its helpline relate to the RBS issue.

King: 'We need to find out why it took so long to recover'

In a hearing with the Treasury Select Committee, Sir Mervyn said the Bank had been in close contact with management at RBS since the problem arose, and over the weekend.

He said the issues were technical and not a reflection of funding issues at the bank, which is 80% state-owned.

Once the current difficulties are over, we need the Financial Services Authority to carry out a detailed investigation to find out what went wrong - and importantly why it took so long to recover.

– Mervyn King

Sir Mervyn said the problems seen at RBS provide a reminder of how systemically important banks are and confirmed the need to ring-fence retail operations from investment banking.

NatWest: 'We may never know how many customers were affected'

RBS and NatWest have around 15 million accounts between them, but it is still unclear how many were affected by the disruption.

A spokesman for RBS Group said it may "never know" the exact figure as it was not possible to tell when everyone is expecting money to be paid into their account and some people may not have noticed problems.

Ulster Bank has estimated that about 100,000 of its customers have been caught up in the problems, which have meant that customers' balances have not been updating properly and their wages have not shown up in their accounts, although the money is "in the system".

Load more updates Back to top

Latest ITV News reports