Natwest cancels corporate hospitality in wake of IT meltdown

 

Royal Bank of Scotland has cancelled its corporate hospitality at
Wimbledon from today as it continues to deal with the IT meltdown which
left thousands of customers without access to cash.

The bank, which says it is finally getting on top of the crisis, said it would be "inappropriate" to continue providing the hospitality.

It also confirmed it had cancelled a one-day golf tournament at Gleneagles in Scotland today that was due to feature golf legend Jack Nicklaus.

Sponsorship of sporting events is unaffected, a spokeswoman said.

The beleaguered bank had already hosted clients for the first two days of the Wimbledon championships and had planned to do so for the rest of the fortnight.

The move came as Bank of England governor Sir Mervyn King said bank bosses should be subject to a "detailed investigation" over the affair.

RBS successfully updated all but 1% of NatWest and RBS account balances on Monday night.

RBS Group has had less success sorting out the delays experienced by Ulster Bank customers, but it hopes to restore a full service for the start of next week.

The bank said in a statement: "Technical issues have caused considerable disruption to many of our retail and business customers, as well as customers of other banks. We have made significant progress in resolving the issues and are working around the clock to put things right for our customers.

"Under the circumstances, we felt it would be inappropriate to provide client hospitality at Wimbledon. Our people are focused on resuming normal service for our customers as soon as possible."

The bank declined to divulge how much money it had planned to spend on hospitality.

Sir Mervyn told MPs yesterday there would need to be a "detailed investigation" into what went wrong and why it had taken so long to sort the issues out.

RBS and NatWest have around 15 million accounts between them, but it is still unclear how many were affected by the disruption.

A spokesman for RBS Group said it may "never know" the exact figure as it was not possible to tell when everyone is expecting money to be paid into their account and some people may not have noticed problems.

Ulster Bank has estimated that about 100,000 of its customers have been caught up in the problems, which have meant that customers' balances have not been updating properly and their wages have not shown up in their accounts, although the money is "in the system".

The Financial Ombudsman Service (FOS) warned yesterday that it could be weeks before customers see all of the issues completely resolved.

The banking group has extended its opening hours this week as staff work "round the clock" to sort out the problems, which began after a software update last Tuesday.

People have had their house moves and holidays disrupted and a defendant in a court case had to spend the weekend in prison because the RBS computer failure prevented his bail money being transferred.

In a hearing with the Treasury Select Committee, Sir Mervyn said the Bank had been in close contact with management at RBS since the problem arose, and over the weekend.

He said the issues were technical and not a reflection of funding issues at the bank, which is 80% state-owned.

He added: "Once the current difficulties are over, we need the Financial Services Authority to carry out a detailed investigation to find out what went wrong - and importantly why it took so long to recover."

Suggested Topics
News
Brand said he
people
Sport
Adam Lallana, Juan Cala, Andy Carroll and Cameron Jerome
sportThe latest news and scores
Voices
Actor Zac Efron
voicesTopless men? It's as bad as Page 3, says Howard Jacobson
Life & Style
Sampling wine in Turin
food + drink...and abstaining may be worse than drinking too much, says scientist
VIDEO
Arts & Entertainment
tvGrace Dent on TV
Arts & Entertainment
The monster rears its head as it roars into the sky
film
Voices
For the Love of God (2007) The diamond-encrusted skull that divided the art world failed to sell for
its $100m asking price. It was eventually bought by a consortium
which included the artist himself.
voicesYou can shove it, Mr Webb – I'll be having fun until the day I die, says Janet Street-Porter
Sport
Mercedes driver Lewis Hamilton of Britain drives in the rain during the qualifying session of the Chinese Formula One Grand Prix in Shanghai
sport
Extras
indybestFake it with 10 best self-tanners
Arts & Entertainment
Madonna in her music video for 'Like A Virgin'
music... and other misheard song lyrics
News
Much of the colleges’ land is off-limits to locals in Cambridge, with tight security
educationAnd has the Cambridge I knew turned its back on me?
Sport
Steven Gerrard had to be talked into adopting a deeper role by his manager, Brendan Rodgers
sportThe city’s fight for justice after Hillsborough is embodied in Steven Gerrard, who's poised to lead his club to a remarkable triumph
News
peopleOrlando Bloom the pin-up hero is making a fresh start
News
Who makes you happy?
happy listSend your nominations now for the Independent on Sunday Happy List
Life & Style
The North Korean TV advert for Taedonggang beer, that became a YouTube hit
food + drinkAnd what did it take to set up a taste test back in Wiltshire?
Arts & Entertainment
filmLife for Leslie Mann's can be challenging sometimes
Voices
For music lovers: John Cusack with his vinyl collection in 'High Fidelity'
voices...but don't forget rest of the year
Have you tried new the Independent Digital Edition iPad app?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

1st Line Helpdesk Engineer Apprentice

£150.00 per week: QA Apprenticeships: This company has been providing on site ...

Telesales & Sales Support Apprentice

£221.25 per week: QA Apprenticeships: This company is a well established Inter...

Client Relationship Manager - SQL, Python

£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...

**Financial Services Tax**

£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...

Day In a Page

How I brokered a peace deal with Robert Mugabe: Roy Agyemang reveals the delicate diplomacy needed to get Zimbabwe’s President to sit down with the BBC

How I brokered a peace deal with Robert Mugabe

Roy Agyemang reveals the delicate diplomacy needed to get Zimbabwe’s President to sit down with the BBC
Video of British Muslims dancing to Pharrell Williams's hit Happy attacked as 'sinful'

British Muslims's Happy video attacked as 'sinful'

The four-minute clip by Honesty Policy has had more than 300,000 hits on YouTube
Church of England-raised Michael Williams describes the unexpected joys in learning about his family's Jewish faith

Michael Williams: Do as I do, not as I pray

Church of England-raised Williams describes the unexpected joys in learning about his family's Jewish faith
A History of the First World War in 100 moments: A visit to the Front Line by the Prime Minister's wife

A History of the First World War in 100 moments

A visit to the Front Line by the Prime Minister's wife
Comedian Jenny Collier: 'Sexism I experienced on stand-up circuit should be extinct'

Jenny Collier: 'Sexism on stand-up circuit should be extinct'

The comedian's appearance at a show on the eve of International Women's Day was cancelled because they had "too many women" on the bill
Cannes Film Festival: Ken Loach and Mike Leigh to fight it out for the Palme d'Or

Cannes Film Festival

Ken Loach and Mike Leigh to fight it out for the Palme d'Or
The concept album makes surprise top ten return with neolithic opus from Jethro Tull's Ian Anderson

The concept album makes surprise top ten return

Neolithic opus from Jethro Tull's Ian Anderson is unexpected success
Lichen is the surprise new ingredient on fine-dining menus, thanks to our love of Scandinavian and Indian cuisines

Lichen is surprise new ingredient on fine-dining menus

Emily Jupp discovers how it can give a unique, smoky flavour to our cooking
10 best baking books

10 best baking books

Planning a spot of baking this bank holiday weekend? From old favourites to new releases, here’s ten cookbooks for you
Jury still out on Manchester City boss Manuel Pellegrini

Jury still out on Pellegrini

Draw with Sunderland raises questions over Manchester City manager's ability to motivate and unify his players
Ben Stokes: 'Punching lockers isn't way forward'

Ben Stokes: 'Punching lockers isn't way forward'

The all-rounder has been hailed as future star after Ashes debut but incident in Caribbean added to doubts about discipline. Jon Culley meets a man looking to control his emotions
Mark Johnston: First £1 million jackpot spurs him on

Mark Johnston: First £1 million jackpot spurs him on

The most prize money ever at an All-Weather race day is up for grabs at Lingfield on Friday, and the record-breaking trainer tells Jon Freeman how times have changed
Ricky Gervais: 'People are waiting for me to fail. If you think it's awful, then just don't watch it'

Ricky Gervais: 'People are waiting for me to fail'

As the second series of his divisive sitcom 'Derek' hits screens, the comedian tells James Rampton why he'll never bow to the critics who habitually circle his work
Mad Men series 7, TV review: The suits are still sharp, but Don Draper has lost his edge

Mad Men returns for a final fling

The suits are still sharp, but Don Draper has lost his edge
Google finds a lift into space will never get off the ground as there is no material strong enough for a cable from Earth into orbit

Google finds a lift into space will never get off the ground

Technology giant’s scientists say there is no material strong enough for a cable from Earth into orbit