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Bank claim: RBS IT failures investigated

Royal Bank of Scotland (RBS) is due to be investigated by the Financial Conduct Authority (FCA) for an IT failure last summer.

During June and July 2012, customers were unable to access their accounts after a software update at the bank caused an error in the system. As a result, customers at RBS and its subsidiaries Ulster Bank and Natwest were unable to receive payments, such as wages, or pay bills.

The FCA has not outlined a timetable for its investigation but says that it will complete it in ‘due course’ and will then decide whether any enforcement action needs to be taken against the bank.

Earlier this year, RBS had a computer malfunction that shut users out of their accounts. Customers were unable to use the bank’s telephone and online banking services and some had their cards swallowed by cash machines.

Its phone app also experienced difficulties in March when users were unable to log in.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801569120-ADNFCR

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