Abbey apologises for e-business banking glitch

High street bank Abbey has apologised for a systems problem with its online business banking service that has caused some customers' payments to be sent to the wrong people.

  0 Be the first to comment

Abbey apologises for e-business banking glitch

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

According to a report by UK broadsheet The Guardian, around 100 business banking customers customers have been affected by the glitch, which causes online payments to be misdirected.

An Abbey spoekeswoman told the paper that the problem was due to a "design flaw" rather than a security glitch.

The report says the the accounts affected are those were more than one user has access. Abbey's system stores a list of bill payments for each individual user, rather than a central list for each account, but a flaw in the system sometimes causes these lists to become "unsynchronised".

This has resulted in some customers unintentionally making payments to a different recipient than intended, says the report.

Abbey says it will ensure that customers do not incur any financial loss as a result of the issue.

Last month Abbey was forced to apologise after a computer glitch resulted in thousands of customers having their overdrafts cancelled.

The bank's system failed to renew certain overdraft limits at the beginning of May and as a result some customers were wrongly hit with unauthorised overdraft fees and other charges.

Sponsored [Webinar] PREDICT 2025: The Future of AI in the US

Comments: (0)

[On-Demand Webinar] AI in Banking: Building Compliant and Safe Enterprise AI at ScaleFinextra Promoted[On-Demand Webinar] AI in Banking: Building Compliant and Safe Enterprise AI at Scale