NatWest chief pledges reimbursement for anyone affected by IT meltdown

 

Bank customers who suffered knock-on costs during NatWest's IT meltdown will be reimbursed no matter who they bank with, its chief executive said today.

Royal Bank of Scotland Group boss Stephen Hester also promised free credit checks for people who fear their lending status may have been affected because of their inability to pay bills in the crisis last month.

In an open letter to users of the MoneySavingExpert website, Mr Hester said that while non-customers should contact their own bank to resolve their problems, anyone who has incurred extra charges will be reimbursed, whether they are RBS customers or not.

RBS Group is still clearing up the chaos caused by a computer failure three weeks ago, with Ulster Bank's problems lingering for longer than those of Royal Bank of Scotland and NatWest.

The group has so far cleared up 90% of 21,000 inquiries which could not be resolved immediately and needed further investigation.

Those who have lost money directly because of the problems can expect to recoup costs such as overdraft fees and interest, late payment fees and interest on mortgages, loans and credit cards and missing interest on savings.

For those who have had to dip into an RBS Group isa, the bank can manually reset its tax-free allowance to make sure customers are not disadvantaged.

If someone has been wrongly hit by charges from another major bank or building society, the other provider should refund the customer as an agreement is in place to treat people who have been affected sympathetically.

But RBS Group said it will reimburse any losses as a direct result of the crisis, if they are not refunded by another party, which includes those for non-customers as well as its own.

People have been urged to keep evidence of extra charges such as emergency travel tickets so they can prove how they were out of pocket.

Wrongly applied RBS/NatWest charges between June 19 and July 6 will be automatically refunded to customers, but people might need to make a claim for those after July 6, the banking group said.

The window for Ulster Bank customers is ongoing as the group is still trying to clear up the problems. It will write to customers detailing refunds by the end of the month.

If someone has had problems with their wages because their employer banks with RBS, this can be identified from the reference number on their bank statement, next to the entry detailing payments.

Mr Hester said: "Those who incurred extra costs will be reimbursed, whether they are our customers or not.

"We know there are customers of other banks who will have been affected and have worked closely with those banks to ensure they can resolve any such concerns. They should contact those banks about resolving their problems."

The failure left many customers unable to see or use cash paid into their accounts over the past few weeks, meaning people had home purchases delayed and holidays disrupted.

Fears have been raised that people might unknowingly have their credit scores blotted, but concerned customers will be able to get a special code to obtain a free online Experian report.

Mr Hester said: "We will ensure no customer's credit rating is affected as a result of this incident. We will work to set the record straight before any credit reports are supplied to Experian.

"And to give peace of mind, we're also writing to these customers with details of how they can receive a free credit check.

"The next step is to put things right for people who faced knock-on costs during the systems delay."

Mr Hester, who has said he will forgo his bonus this year because of the problems, apologised again for the "unacceptable" delays.

He said: "This incident was a stark reminder of how our customers rely on us every day. I am determined that we win back their trust.

"When we have finished the job of putting things right, we will also want to invite our customers to have a discussion with us about how we can do things better in the future."

MoneySavingExpert.com creator Martin Lewis cautioned that many people will have lost far more cash than the obvious bank fees and charges, such as people who might have had to buy a new aeroplane flight.

He said: "I'd suggest all customers tot up their direct losses and if it isn't refunded directly, contact the bank and ask it for the money back, so keep receipts.

"This applies to affected non-customers too, such as those who didn't get paid because their firm banks with RBS."

PA

PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
News
ebooksAn unforgettable anthology of contemporary reportage
Sport
Radamel Falcao was forced to withdraw from the World Cup after undergoing surgery
premier leagueExclusive: Reds have agreement with Monaco
News
Rumer was diagnosed with bipolarity, attention deficit hyperactivity disorder and post-traumatic stress disorder: 'I was convinced it was a misdiagnosis'
peopleHer debut album caused her post-traumatic stress - how will she cope as she releases her third record?
Arts and Entertainment
'New Tricks' star Dennis Waterman is departing from the show after he completes filming on two more episodes
tvOnly remaining original cast-member to leave long-running series
Life and Style
Couples have been having sex less in 2014, according to a new survey
life
Voices
Holly's review of Peterborough's Pizza Express quickly went viral on social media
voices
Arts and Entertainment
musicBiographer Hunter Davies has collected nearly a hundred original manuscripts
Sport
A long jumper competes in the 80-to-84-year-old age division at the 2007 World Masters Championships
athletics
Arts and Entertainment
tvReview: 'Time Heist' sees a darker side to Peter Capaldi's Doctor
Life and Style
Walking tall: unlike some, Donatella Versace showed a strong and vibrant collection
fashionAlexander Fury on the staid Italian clothing industry
Arts and Entertainment
Gregory Porter learnt about his father’s voice at his funeral
music
Arts and Entertainment
tvHighs and lows of the cast's careers since 2004
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

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

iJobs Job Widget
iJobs General

KS1 Primary Teacher

£100 - £150 per day: Randstad Education Leeds: Qualified KS1 Supply Teacher re...

KS2 Teaching Supply Wakefield

£140 - £160 per day: Randstad Education Leeds: Qualified KS2 Supply Teacher r...

Year 1/2 Teacher

£130 - £160 per day: Randstad Education Leeds: Qualified KS1 Teacher required,...

Primary Teachers Needed for Supply in Wakefield

£140 - £160 per annum: Randstad Education Leeds: Qualified KS1&2 Supply Te...

Day In a Page

Scottish referendum: The Yes vote was the love that dared speak its name, but it was not to be

Despite the result, this is the end of the status quo

Boyd Tonkin on the fall-out from the Scottish referendum
Manolo Blahnik: The high priest of heels talks flats, Englishness, and why he loves Mary Beard

Manolo Blahnik: Flats, Englishness, and Mary Beard

The shoe designer who has been dubbed 'the patron saint of the stiletto'
The Beatles biographer reveals exclusive original manuscripts of some of the best pop songs ever written

Scrambled eggs and LSD

Behind The Beatles' lyrics - thanks to Hunter Davis's original manuscript copies
'Normcore' fashion: Blending in is the new standing out in latest catwalk non-trend

'Normcore': Blending in is the new standing out

Just when fashion was in grave danger of running out of trends, it only went and invented the non-trend. Rebecca Gonsalves investigates
Dance’s new leading ladies fight back: How female vocalists are now writing their own hits

New leading ladies of dance fight back

How female vocalists are now writing their own hits
Mystery of the Ground Zero wedding photo

A shot in the dark

Mystery of the wedding photo from Ground Zero
His life, the universe and everything

His life, the universe and everything

New biography sheds light on comic genius of Douglas Adams
Save us from small screen superheroes

Save us from small screen superheroes

Shows like Agents of S.H.I.E.L.D are little more than marketing tools
Reach for the skies

Reach for the skies

From pools to football pitches, rooftop living is looking up
These are the 12 best hotel spas in the UK

12 best hotel spas in the UK

Some hotels go all out on facilities; others stand out for the sheer quality of treatments
These Iranian-controlled Shia militias used to specialise in killing American soldiers. Now they are fighting Isis, backed up by US airstrikes

Widespread fear of Isis is producing strange bedfellows

Iranian-controlled Shia militias that used to kill American soldiers are now fighting Isis, helped by US airstrikes
Topshop goes part Athena poster, part last spring Prada

Topshop goes part Athena poster, part last spring Prada

Shoppers don't come to Topshop for the unique
How to make a Lego masterpiece

How to make a Lego masterpiece

Toy breaks out of the nursery and heads for the gallery
Meet the ‘Endies’ – city dwellers who are too poor to have fun

Meet the ‘Endies’ – city dwellers who are too poor to have fun

Urbanites are cursed with an acronym pointing to Employed but No Disposable Income or Savings
Paisley’s decision to make peace with IRA enemies might remind the Arabs of Sadat

Ian Paisley’s decision to make peace with his IRA enemies

His Save Ulster from Sodomy campaign would surely have been supported by many a Sunni imam