Bank of Ireland IT failure….. Even if there was no money in the accounts, hundreds of people withdrew money!
Dublin: A technical glitch in the Bank of Ireland’s IT system has partially disrupted all operations of the bank.
The bank also confirmed that customers were able to transfer more money than they had in their Bank of Ireland accounts to other external accounts and then withdraw money from ATMs. Even those with zero balances were able to transfer money.
It was possible to withdraw more money than what was in the account through ATM missions. The majority of transactions made since yesterday evening have not been reflected in the bank account. The real problem started from yesterday afternoon.
But the bank reminded customers that if customers have withdrawn more money than what is in their account, it will have to be refunded.
There was an unusual rush to withdraw cash from ATM machines across the country yesterday.
The bank is still working to resolve the technical issue that caused service disruptions on its online banking portal, 365 Online, and mobile banking app. Services have been partially restored this morning.
While contactless card and ATM services were not affected, problems first arose when customers were unable to access other services.
Free Cash Dispensing: Long Queues in Front of ATMs
Since yesterday evening, word has spread that even if there is no money in the bank account, it is possible to withdraw up to 500 euros. Due to this, long queues were formed in front of ATMs in many places.
Along with this, word got out that money could be transferred to a Revolut account even if there was no money in the account. Because the money transferred in this manner can be withdrawn from any ATM in the country, long lines formed at ATMs in cities such as Dublin, Limerick, Dundalk, and others. At the direction of And Control, the Gardaí began removing people from ATMs. Access to the ATMs was later blocked by gardaí.
Despite the bank’s announcement on social media that there are no plans to give away free money, the ‘arrival’ of people coming to withdraw money from cash ATMs continued even after midnight.
The bank’s IT system went down shortly after it reported a half-year profit of more than €1 billion last month.
In a social media statement, the Bank of Ireland stated that any money taken from unfunded accounts would be shown as a debit and would be treated as an unauthorised overdraft.
The bank has initiated a preliminary investigation into the IT breach.
The bank expressed regret for the inconvenience caused to the customers. In a press release, the bank stated that efforts are being made to restore services at full scale.
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