Royal Bank of Scotland Group Plc said it has processed the 600,000 credit- and direct-debit transactions that were delayed last week in the government-owned banks latest payments failure.
The issues customers were experiencing in relation to delayed credits and debits have now been resolved and accounts have been updated, the bank said in a statement. We are extremely sorry for the inconvenience and distress that this has caused our customers.
RBS is spending approximately $236 million dollars a year to improve the resilience of its computer systems and investing in new technology, Chief Administrative Officer Simon McNamara said.
McNamara could not guarantee there wouldnt be another RBS computer failure in the future, saying this is technology, it is complex and it will fail.
The bank was criticized by lawmakers and had to contact the U.K.s Financial Conduct Authority after hundreds of thousands of transfers went missing. The computer system failure came just seven months after the Edinburgh-based lender was fined about $89 million for a 2012 computer collapse, which left millions of people without access to their accounts for weeks.
In the latest incident, RBS originally said the problems would take several days to fix. Andrew Tyrie, a Conservative lawmaker and chairman of the U.K.s Treasury Select Committee, said June 17 it was unacceptable for customers to be out of pocket for that long.
If any customers are still experiencing issues please contact our call centers or come into a branch where our staff is ready to help, the bank said. We will continue our work to make sure that no customer will be left out of pocket as a result of this issue.