HSBC Has Processed All Outstanding Payments After Friday GlitchBy
HSBC Holdings Plc has processed all of the 275,000 payments from U.K. business customers that it failed to complete on Aug. 28 after a software problem caused delays.
The issue emerged on Friday morning at Europe’s largest bank, delaying transactions on the final working day on the month in the U.K., when most salaries are paid. Aug. 31 is a public holiday.
“We have now processed all outstanding payments following yesterday’s
problems,” HSBC said in an e-mailed statement on Saturday.“Any affected customers still experiencing issues with their account should contact their bank.”
The problem was with the BACS system, which processes electronic payments, the bank said in a Twitter post, without elaborating. The delay raised the prospect that some Britons would have been left without funds before the long weekend that marks the end of the summer.
HSBC processed over 99 percent of the delayed payments by the end of Friday, it said earlier. The Bank of England said it was in contact with HSBC regarding the problem and was working with the lender to resolve the issue.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Avicii, DJ-Producer Who Performed Around the World, Dies
- Deutsche Bank's Bad News Gets Worse With $35 Billion Flub
- Southwest Airlines Gives $5,000 to Passengers on Fatal Flight
- Wells Fargo's $1 Billion Pact Gives U.S. Power to Fire Managers
- Oil Shrugs Off Trump Tweet to Rise for a Second Straight Week