Customers nationwide experience payment difficulties with HSBC, Barclays, and Virgin Money banks.
US Banks Experience Payment Issues Due to Faster Payments Service Glitch
A technical issue with the Faster Payments service has caused problems for major US banks, including HSBC, Barclays, Virgin Money, and Nationwide. Pay US, the organization that oversees the system, has confirmed that a small number of payments were delayed or not processed earlier today.
The issues have left customers unable to send and receive money, causing significant inconvenience. HSBC US has apologized for the problems and is working to restore normal services. Virgin Money has restored access to its app but is dealing with a backlog of payments. Nationwide expects the delayed payments to be processed and paid later today.
The problems have been particularly challenging given that it is the last working day of the month, and many are paid by their employer. This has compounded the issues, as customers are relying on timely payments to cover their expenses.
This is not the first time the banks have experienced problems with the Faster Payments service. In March, Nationwide customers reported a range of issues, while in November HSBC was forced to apologize after thousands of its US customers were unable to access mobile and online banking for more than 24 hours.
If a customer has suffered a loss due to the banking glitch, they should contact their bank and ask for the loss to be covered. If a customer is unhappy with the bank's response, they can take the matter to the Financial Ombudsman for further investigation.
It's worth noting that similar issues have been reported in other parts of the world. Last month, Natwest's app experienced an outage affecting 10 million customers. In the month before, the European payment service Wero experienced technical problems affecting payment transactions, specifically impacting Volks- and Raiffeisenbanken with about 6700 transactions affected. Additionally, two weeks earlier, the US payment service PayPal had a serious failure where security systems failed, and banks froze payments worth approximately 10 billion euros. Also, numerous complaints were reported about C24 bank, involving missing security structures and internal chaos.
Customers are advised to keep checking their bank's website or app for updates on the status of their payments. If there are any delays, customers should contact their bank as soon as possible to discuss their options. Banks are working hard to process the backlog of payments delayed as quickly as possible.
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