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Saturday, 01 November 2014

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Young and old affected by RBS and NatWest banking problem

Mothers, pensioners, the disabled and carers are among the Cumbrians who continue to be affected by a national banking problem.

Related: Emergency cash payments for Cumbrians hit by RBS and NatWest chaos

People from across the county have spoken out about how they are suffering as a result of problems at the RBS group.

Many of them are not customers of the company – who own NatWest, the Royal Bank of Scotland and Ulster Bank – but are still suffering.

Some Government benefits are not arriving in people’s bank accounts because of the problems, thought to have been caused by a computer systems upgrade.

One woman, Patricia Thompson, 54, of Newtown Road, Carlisle, said the glitch had affected her and her husband. Her Carer’s Allowance and his Diability Living Allowance had not been paid into their Cumberland Building Society account and they are now looking at using savings.

“Luckily we have got a holiday fund but a lot of people won’t,” she said.

A 66-year-old man from Aspatria, who also asked not to be named and who also banks with the Cumberland, said he had not received his pension.

To get hold of his money he has been told by the Department of Work and Pensions he will have to fill in a lengthy form and wait for it to be processed.

“I had a very heated exchange with them because it seemed obvious to me that it’s their responsibility that we get our money,” he said.

Another woman, Rebecca Mossop, commented on the News & Star Facebook page: “I couldn’t pay my full rent. I expected it to be sorted in a few days as I was told that it should be sorted by Friday.

“It’s my daughter’s birthday end of next month so bought a few bits online beginning of last week. Cupboards are bare!”

She added: “They have tried to be helpful but, 'it will be sorted soon' and 'we have experts working on it' doesn’t feed my child.”

Another 33-year-old mother from Morton, Carlisle, who also asked not to be named, said she had had to get her own mother to pay for car repairs because she could not pay an insurance excess as a result of the problems.

A DWP spokeswoman said the RBS group was issuing payments if customers had documentation to prove they received it regularly. The Cumberland has also issued cash payments to customers.

A spokesman for RBS said and update of balances for NatWest and Royal Bank customers had cleared overnight, save for “some specific transactions”.

He added: “It is possible a small number of customers may experience delays as we return to a completely normal service. We will continue to extend our branch opening hours all week.”

 

Have your say

Here are a couple of videos which explain how banking got to where it is today, and why so many are worried about a collapse of the main currencies.

youtube.com/watch?v=7I_k0tAnQ7U
youtube.com/watch?v=1nQGArcbYw0

Posted by Expat Marra on 2 July 2012 at 14:59

I wish the Cumbrian newspaper's comments sections had the ability to "thumbs up" comments, I'd be clicking up the post by Francis. I also like "anon"'s post about what he learned as an apprentice.

I'd like to add that many, many people are now exchanging their paper money for silver and gold. I even know of some people who have gone to the extreme and sold their house or pension fund to buy precious metals! (Not me, by the way.)

Re. the Muslim approach to money - some areas still use silver and gold coinage, and the worth of the coins now is the same as their worth hundreds of years ago within this system, no inflation. Also, many older folks here in the UK may remember that prices were pretty much static in the early decades of last century when we still used silver and gold coins - it wasn't until 1947 when we changed to base metal coinage that prices seriously began to rise.

Something to ponder, maybe.

Posted by Expat Marra on 2 July 2012 at 14:18

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