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| HSBC system failure leaves thousands facing bank holiday without pay | |
| (35 minutes later) | |
| Thousands of people have been left without their salaries because of an IT glitch at HSBC that means employers who use its business banking accounts cannot make payments. | Thousands of people have been left without their salaries because of an IT glitch at HSBC that means employers who use its business banking accounts cannot make payments. |
| Reports began emerging on Friday morning of workers who have been left without pay on the Friday before the bank holiday weekend. | Reports began emerging on Friday morning of workers who have been left without pay on the Friday before the bank holiday weekend. |
| The bank has suffered a problem with the electronic payments system its business banking customers use to make, among other things, salary payments. | The bank has suffered a problem with the electronic payments system its business banking customers use to make, among other things, salary payments. |
| “None of our 150 staff have been paid, which before a long weekend is a disaster,” the owner of one business told the Guardian. “HSBC is very non-committal as to whether any monies will clear between now and Tuesday when the banks reopen, and it’s causing a huge concern for our young workforce who were relying on their pay before the bank holiday.” | “None of our 150 staff have been paid, which before a long weekend is a disaster,” the owner of one business told the Guardian. “HSBC is very non-committal as to whether any monies will clear between now and Tuesday when the banks reopen, and it’s causing a huge concern for our young workforce who were relying on their pay before the bank holiday.” |
| She added: “Most have been forced to go over their overdrafts and some will literally be left with no funds until it’s resolved.” | She added: “Most have been forced to go over their overdrafts and some will literally be left with no funds until it’s resolved.” |
| Related: A history of UK banks' system failures | |
| Carl Chapman, who runs an IT services business in London, said none of his 130 staff had been paid. “We obviously pushed all the right buttons to make payments a few days ago and assumed HSBC would do its bit. We discovered instead at about 7.30 on Friday morning that none of our staff had received their money.” | Carl Chapman, who runs an IT services business in London, said none of his 130 staff had been paid. “We obviously pushed all the right buttons to make payments a few days ago and assumed HSBC would do its bit. We discovered instead at about 7.30 on Friday morning that none of our staff had received their money.” |
| Chapman said the firm had paid its employees “emergency funds” but that he is still awaiting a response from the bank. | Chapman said the firm had paid its employees “emergency funds” but that he is still awaiting a response from the bank. |
| The bank said that 275,000 payments have been affected, including payments to customers of other banks. It said in a statement: “There has been a fault in the information used to process some payments from HSBC business customers. | The bank said that 275,000 payments have been affected, including payments to customers of other banks. It said in a statement: “There has been a fault in the information used to process some payments from HSBC business customers. |
| “We are taking immediate steps to ensure the payments reach beneficiaries as quickly as possible. We will work with other banks to ensure that customers do not lose out as a result of today’s problems.” | “We are taking immediate steps to ensure the payments reach beneficiaries as quickly as possible. We will work with other banks to ensure that customers do not lose out as a result of today’s problems.” |
| Salaries are not the only payments affected by the IT failure. Businesses that bank with HSBC are finding that they are unable to pay their suppliers, with the online banking facilities temporarily closed. | Salaries are not the only payments affected by the IT failure. Businesses that bank with HSBC are finding that they are unable to pay their suppliers, with the online banking facilities temporarily closed. |
| Charlotte Abbot, who runs PrintHut.co.uk based in St Neots, Cambridgeshire, says she has been deeply frustrated by her inability to make payments this morning. | Charlotte Abbot, who runs PrintHut.co.uk based in St Neots, Cambridgeshire, says she has been deeply frustrated by her inability to make payments this morning. |
| “I can’t pay any of our suppliers at the moment. I need to pay a few this morning, and it it keeps coming up with error warnings online.” | “I can’t pay any of our suppliers at the moment. I need to pay a few this morning, and it it keeps coming up with error warnings online.” |
| Hundreds of people have already taken to Twitter to express their concern. | Hundreds of people have already taken to Twitter to express their concern. |
| The problems appeared to have started in the early hours of Friday morning, although as recently as 8.30am the bank was tweeting people to say it was not aware of the problem. | The problems appeared to have started in the early hours of Friday morning, although as recently as 8.30am the bank was tweeting people to say it was not aware of the problem. |
| Doug Silkstone from Bristol told the Guardian: “We normally get paid at midnight on the last working day of the month. This means that the problem probably started from sometime on Thursday evening. | Doug Silkstone from Bristol told the Guardian: “We normally get paid at midnight on the last working day of the month. This means that the problem probably started from sometime on Thursday evening. |
| “For me it’s a real problem because I have repayments, rent and overdraft fees to worry about, as well as a bank holiday weekend to miss out on.” | “For me it’s a real problem because I have repayments, rent and overdraft fees to worry about, as well as a bank holiday weekend to miss out on.” |
| The bank has told its customers that it is having a problem with Bacs payments. Direct debits and deposits are made using Bacs, the system that is responsible for the electronic processing of financial transactions within the UK. | The bank has told its customers that it is having a problem with Bacs payments. Direct debits and deposits are made using Bacs, the system that is responsible for the electronic processing of financial transactions within the UK. |
| Have you been affected by the glitch? Get in touch via the form below: | Have you been affected by the glitch? Get in touch via the form below: |