Hsbc 'working To Fix' Missing Payments

[mikey4444]

http://www.bbc.co.uk/news/uk-34095626

Anybody on here affected by this latest IT cock-up ?

[ToraToraTora]

not directly but I hope it is another demonstration to my own employers of their false economy.

[mikey4444]

This could have potentially serious consequences for lots of people, saved perhaps by the fact that it occurred on a Bank Holiday weekend.

I bank with the Co-op and Tesco and my wages went in OK yesterday, but most of my DD's won't come out until next Tuesday and Wednesday. Other people might not have been so lucky. My sympathies lies with them. At least HSBC seems to be pulling its finger out and fixing this issue as soon as it can.

But its worrying that it occurred so easily.

[ToraToraTora]

this c0ckup, like the RBS one and many of our own, that have just about avoided getting on the news, are caused by cost cutting measures. Banks have to use large mainframes and the skill set needed is increasingly rare, they hire anyone from the far east and india as long as they are cheap enough. These issues will become more and more common until IT training starts to realise that these skills may be unfashionable but they are needed.

[mikey4444]

Its was said on the Today Program this morning, that the main reason that these problems occur TTT, was that the systems that the Banks use are now out of date and are creaking at the seams. Add to that the near impossibility of any time that the systems are not being used very much and could be worked on then, we seem to have the makings for many more cock-ups.

[THECORBYLOON]

Did it happen easily? HSBC has yet to say what caused it and whilst appreciating the problems and inconvenience, only 2,750 payments are oustanding still.

[ubasses]

They have said what caused it and it appears to be human error. In simple terms somebody fed the wrong information into BACS and so so it didn't do what it was supposed to.

Business internet Banking crashed later probably because all the Businesses were logging on the find out what was happening.

[ToraToraTora]

That's the standard excuse mikey, it's what they'd like you to believe, but it's not true, the systems are old, yes but they have evolved with the increasing demands put on them. The problems are usually caused by a new system that has been done in a half ar5ed fashion. We have tried to replace our custody system several times but it always fails because they try and do it on the cheap by running on something unsuitable with flakey designs. Through it all runs the old reliable system continually picking up the pieces.

[mikey4444]

http://www.bbc.co.uk/news/uk-34095626

Apparently all payments have now been sorted out...just the compensation to deal with now, although I suppose that can wait until Tuesday morning !