HSBC IT glitch affected 275,000 payments

HSBC issued a statement apologizing for the inconvenience of today’s payments problems in the UK caused by an IT glitch.

The bank said that it has processed approximately 99% of payments affected by the glitch, with the rest expected to be completed overnight.

A total of 275,000 payments were affected by the glitch, according to the bank.

HSBC said: “We are now processing the payments so that they reach the beneficiary accounts as quickly as possible.”

Adding: “The majority of payments will be completed over the course of the afternoon and early evening, with any remaining payments completed overnight.”

“Customers who do not receive the delayed payment by Saturday morning should speak with their bank in the first instance. They should also contact their bank if they have suffered any costs as a result of today’s problems,” it continued.

Thousands of people across the UK have been affected by the glitch.

The glitch didn’t just affect HSBC customers, but also those who expected to receive payments, such as wages, from HSBC accounts.

According to the BBC, an HSBC customer in central London said that none of his 120 employees received their pay.

He told the BBC: “There’s been very little or no valuable communication from HSBC. It’s turning into a nightmare as the hours roll on with no word,”

Conservative lawmaker Andrew Tyrie, who chairs parliament’s Treasury Committee, said on Friday: “This appears to be yet another serious IT failure by one of the major clearing banks,”

Adding: “It is increasingly clear that most, if not all, of these banks’ IT payments systems need a good deal of investment, and there is a lot to put right,” he said.

---