Bank of Ireland has successfully resolved the technical issues that impacted its services, leading to certain customers being able to withdraw or transfer funds exceeding their actual account balances, the bank announced.
One of the issues involved a glitch in the bank’s online app that permitted customers with low or insufficient balances in their accounts to transfer up to 1,000 euros ($1,090) to a linked account with a digital banking app, such as Revolut. This allowed them to make withdrawals through ATMs, according to reports in local media on Tuesday.
Irish authorities reported an unusual surge in ATM activity across the country on Tuesday evening. Images circulating on social media depicted queues at various ATMs as the glitch gained attention on the social media platform X (formerly known as Twitter). However, a Reuters reporter did not observe any queues at central Dublin ATMs late that evening.
Bank of Ireland, the country’s largest lender by assets, issued a statement clarifying the situation: “A technical issue impacted several of Bank of Ireland’s services yesterday. Our teams worked diligently to reinstate these services overnight, and they are now fully available to our customers.”
The statement continued, addressing the issue of customers exceeding their normal transaction limits: “We are aware that due to the technical problem, certain customers were able to perform withdrawals or transfers surpassing their regular limits. These transactions will be reflected in the customers’ accounts today.”
When asked for additional information about the nature of the problem, a bank representative responded that there were no further details to provide beyond its identification as a technical glitch.
The bank urged customers who might face financial difficulties due to overdrawn accounts to reach out for assistance, expressing apologies for the inconvenience caused by the disruption.
The bank initially acknowledged the service disruption around 14:50 GMT on Tuesday, noting difficulties faced by customers using their mobile app and online services. Complaints emerged on social media platforms, with customers reporting issues such as inability to access online accounts, declined bank card payments, and unsuccessful fund withdrawals.
In early trading, Bank of Ireland’s shares experienced a slight decline of 0.2%.
Ireland’s central bank confirmed that it was closely monitoring the situation and engaging with Bank of Ireland to ensure that any identified issues and errors were promptly addressed for the benefit of the customers.
As of now, a spokesperson for London-based Revolut, the digital banking platform, has not commented on the situation. Earlier this year, the platform had revealed a customer base of over two million in Ireland.
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