Payday misery for thousands of HSBC customers as glitch holds up payments

Comments Off on Payday misery for thousands of HSBC customers as glitch holds up payments

HSBC is investigating payment problems thought to be linked to the national Bacs clearing system which moves money between banks.

Customers complained on Twitter that payments were being held up, on a day when many employees would be expecting to receive their monthly salaries in their bank accounts.

Bacs processes transactions worth up to about £50 billion every day and is critical to the functioning of the UK financial system.

HSBC said it was looking into the issue.

Bacs has yet to respond to the reports and it is unclear whether the problem was affecting only HSBC or also hitting customers of other banks.

One Twitter user wrote: “None of my staff have been paid. HSBC when will this be sorted?” Another said: “Bacs payment system down on payday and before Bank Holiday. Lovely.”

HSBC said on Twitter: “There has been an issue affecting Bacs payments by some HSBC customers today.

“We apologise for any inconvenience caused and are working hard to resolve the issue as quickly as possible.”

HSBC is understood to have  contacted the Bank of England over the problem today, while the Financial Conduct Authority has also been called in. It is thought the issue related to payments coming from HSBC rather than the whole Bacs system itself.

Source Article from

August 29, 2015 |
Copyright © 2019 All Rights Reserved.
WordPress Directory Theme

Classified Ads Software

We use cookies to ensure that we give you the best experience on our website.
More about our cookies
Skip to toolbar