In Ireland, long queues formed in front of ATMs on Tuesday, because people assumed that an IT error would result in free cash. This is reported by Irish media such as Independent.ie, which explains that some Bank of Ireland customers actually managed to withdraw EUR 500, although there was less money in their accounts and it was probably not possible to overdraft. Sometimes the crowds were so large that the police were used to control them. The bank has since apologized for the technical issues and Customers warned that all debits would be posted to the accounts.
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Even the police on duty
The Independent newspaper explains that queues formed at ATMs after reports circulated online that people could have withdrawn up to €500 despite having less money in their accounts. Some even managed to bypass this limit and get up to 1,000 euros via transfers to money cards from the British neobank Revolut. After the reports spread “like wildfire”, the unprecedented scenes happened. At least some in the queue would have had the impression that taking off would remain without consequences. So you would have expected free cash.
The reports do not reveal what kind of technical problems the bank had. However, it appears that transfers or withdrawals were not processed correctly, which could result in overdrafts on accounts where this is not actually possible. For customers, this could have given the impression that they could withdraw money that they didn’t even have. The bank has since assured that the systems are working again and payment transactions will be added. Many people could now face high overdraft fees.
For the bank, the problems are just the latest in a growing list of technical difficulties, adds The Irish Times. At the end of June, the online services collapsed for almost 24 hours, after which the bank had to extend its opening hours. Hours before the hustle and bustle at the ATMs, the bank apologized for difficulties with the banking app and online banking. The newspaper assumes that the image damage after the events of Tuesday evening and Wednesday morning is now immense, while the bank can probably get back the money paid out.
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