HSBC Suffers IT Glitch On Pay Day

HSBC customers expecting to be paid on the last Friday of the month may have to wait for their wages after the bank confirmed an  IT glitch was impacting Bacs payments.

According to the BBC, the fault is affecting transfers to and from HSBC accounts, meaning those who are paid by their employer from an HSBC account might also be affected.

“There has been a fault in the information used to process some payments from HSBC business customers,” an HSBC spokesperson told TechWeekEurope. “Approximately 275,000 payments have been affected, including payments to customers of other banks.

Payday glitch

“HSBC apologises for the inconvenience this has caused. We are taking immediate steps to ensure the payments reach beneficiaries as quickly as possible. We will work with other banks to ensure that customers do not lose out as a result of today’s problems.”

The issue has reportedly been referred to the Bank of England and the Financial Conduct Authority. Hundreds have flocked to Twitter voicing their frustration and concern and asking whether they will be compensated for any financial penalties they may incur.

Others were particularly upset this was due to happen over a bank holiday weekend.

For once, it’s not Natwest and RBS under pressure. RBS has suffered a number of failures and outages and recent times, most notably a system failure in June 2012. The most recent incident saw a DDoS attack prevent customers from access online banking services – the fifth major problem in three years.

However earlier this year, HSBC suffered a data breach in the US which involved the personal details of some American mortgage customers of HSBC Finance Corp.

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