I am wondering what is going on with Ulster bank?Apparently there was no salary or welfare available in the banks today and is ongoing since yesterday,and as usual there is a deafening silence on the issue.Nothing of major importance on news either.However I am suspecting there is a bigger problem than a “glitch” as being reported in a minimised way,maybe Max could throw some light on this.
Karl
Natwest have a run an advert here in the UK over the past few demonstrating their mobile banking app. In the advert a young girl travelling oversea’s loses her money and calls dad to be bailed out. Dad reassuringly transfers the money while commuting to work on the train. Interestingly the advert started with showing a transfer from the mobile of £1500. The advert was running this morning and the transfer is now showing as £200. Natwest limiting the amount of money that can be transfered? Just find it very curious that they should change an advert. Did they shoot multiple values on the phone when making the advert? Curious.
jayzio
Sounds really shady to me. I bet they’re doing some Corzine type action where they’re using customer funds overnight to help them meet some sort of margin call. Maybe due to potential bank downgrades or todays market wide drop. I mean, these guys are leveraged to hilt right? I’ve heard that even just single didgit drops in asset values can potentially bring down the whole game. They’re hoping they can rob from peter to pay paul for a bit until some other less liquid assets can be liquidated, or perhaps it allows them to sell off assets more slowly, allowing them to get a higher price since they’re not being dumped all at once. I think this may be an act of desperation.
jayzio
@Karl, If that is true about them changing the advert, well, I think that speaks volumes as to the true nature of this ‘glitch’
SilverPorno
Something that wasn’t reported…
HSBC also had a big problem about 2 weeks ago with business accounts. I noticed that my business credit-card payments weren’t debited at the beginning of the month. I then got a letter from the bank last week saying they had an error and payments didn’t go out as expected but will now go out, in July.
Big cockup. Not reported as far as I could see.
Sovereign Silver
People should have cash in hand right now.
Black swans are circling.
frances snoot
Downgrade
Oz feels quiet, not actual
Technicolor, no, rather gray
But still holding space. Man
Stands spanning the Pacific
Ocean without fins. Just bare
Feet, gonna get wet. Waves
Run fast in symmetry with the
Clouds: race against time.
Pulse quickens with the fleet
Racing wings. The big wave,
tall as an advance warning left
Unbidden with the remnants
Of toast and half-remembered
Coffee. Rush, do something,
This can’t be happening. Shadow
Spills salt, cold hug of cruelty.
Names mean about as much
As the wet papers strewn slap
Face-down on the pavement.
God, so wet, so damned wet,
Like the tears of the angel left
Sitting silence while the world
Turned hard shoulder, spiteful,
Cast lots for the sun.
We are finding that some wages have not been transferred to employees accounts in a few different banks this morning. I am with the co-operative, we have someone at Lloyds TSB who also has nothing and another person at at unknown bank.
BBC talking head idiot on this morning blabbering how customers at RBS are having various problems with wages not turning up and suchlike. What exactly are they covering up? Bank run? Unannounced bank holiday?
It’s all very well saying have plenty of cash here comes the black swan, but some of us run pretty close to our means. I have a silver and gold coloured emergency stash though.
Jane
Tech issues the same day of the Moody downgrade? What are the odds of that
Citizen119
@Martin
I’m with the Cooperative, I hope there’s no problems there, I just moved
from Barclays.
Anyway, isns’t the NatWest too big to fail?
Karl
@ jayzio – Its definitely been out in two versions. I know it was £1500 as the first time I saw it my reaction was who has that kind of money to transfer on the spur of the moment. Perahps they decided £200 was a more realistic amount, who knows? But obviously still involves work in filming re-editing etc. Or maybe they have different amounts targeted at different tv channels (viewer classes). Whatever, as said before curious.
Flopot
Listening to Irish radio here, it sounds like daylight robbery.
Becky
@Blah Blah:-
Yep! & Along with the Bus strike folks are skint until Monday!!! ;^D
Becky
Frances snoot… mmm. What is that herb you take?
JailBanksters
I’m sure there is a simple, non-conspiracy reason why this happened.
I just havn’t heard it yet.
What-me-worry?
The Government’s Plan to Steal Your Money – DailyReckoning dot com
Steve/NotLiverpool
Hey, guise, calm down.
Natwest say….
“This problem is strictly of a technical nature and we are working hard to fix it as soon as possible.”
it’s affecting Ulster Bank customers in Ireland too.
”British banks are thought to be relatively well-placed to withstand the worst consequences of a potential downgrade because they have already taken significant action to strengthen their balance sheets in the wake of the financial crisis that took hold in 2008.”
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9346736/Moodys-poised-to-downgrade-UK-banks.html
Meaning Osbourne has given the banks 100′s billions of pounds and will continue to do so making no shortage of fiat in that respect (different for the euro of course)
Look to the bonds for possible shtf default don’t we?
http://www.guardian.co.uk/business/2012/may/14/uk-treasury-bonds-record-low
http://www.telegraph.co.uk/finance/economics/gilts/
In other news on “mailonline”, Another way of “concealing the goods” under a hoodie;
http://www.dailymail.co.uk/news/article-2161294/Wesley-Warren-Jr-Man-100-pound-scrotum-REJECTS-free-1m-corrective-surgery.html?ICO=most_read_module
I thought the whole RBS chain was on the skids and about to collapse, this story comes as no surprise. Fuck you Fred Goodwin, fuck you very much.
I am wondering what is going on with Ulster bank?Apparently there was no salary or welfare available in the banks today and is ongoing since yesterday,and as usual there is a deafening silence on the issue.Nothing of major importance on news either.However I am suspecting there is a bigger problem than a “glitch” as being reported in a minimised way,maybe Max could throw some light on this.
Natwest have a run an advert here in the UK over the past few demonstrating their mobile banking app. In the advert a young girl travelling oversea’s loses her money and calls dad to be bailed out. Dad reassuringly transfers the money while commuting to work on the train. Interestingly the advert started with showing a transfer from the mobile of £1500. The advert was running this morning and the transfer is now showing as £200. Natwest limiting the amount of money that can be transfered? Just find it very curious that they should change an advert. Did they shoot multiple values on the phone when making the advert? Curious.
Sounds really shady to me. I bet they’re doing some Corzine type action where they’re using customer funds overnight to help them meet some sort of margin call. Maybe due to potential bank downgrades or todays market wide drop. I mean, these guys are leveraged to hilt right? I’ve heard that even just single didgit drops in asset values can potentially bring down the whole game. They’re hoping they can rob from peter to pay paul for a bit until some other less liquid assets can be liquidated, or perhaps it allows them to sell off assets more slowly, allowing them to get a higher price since they’re not being dumped all at once. I think this may be an act of desperation.
@Karl, If that is true about them changing the advert, well, I think that speaks volumes as to the true nature of this ‘glitch’
Something that wasn’t reported…
HSBC also had a big problem about 2 weeks ago with business accounts. I noticed that my business credit-card payments weren’t debited at the beginning of the month. I then got a letter from the bank last week saying they had an error and payments didn’t go out as expected but will now go out, in July.
Big cockup. Not reported as far as I could see.
People should have cash in hand right now.
Black swans are circling.
Downgrade
Oz feels quiet, not actual
Technicolor, no, rather gray
But still holding space. Man
Stands spanning the Pacific
Ocean without fins. Just bare
Feet, gonna get wet. Waves
Run fast in symmetry with the
Clouds: race against time.
Pulse quickens with the fleet
Racing wings. The big wave,
tall as an advance warning left
Unbidden with the remnants
Of toast and half-remembered
Coffee. Rush, do something,
This can’t be happening. Shadow
Spills salt, cold hug of cruelty.
Names mean about as much
As the wet papers strewn slap
Face-down on the pavement.
God, so wet, so damned wet,
Like the tears of the angel left
Sitting silence while the world
Turned hard shoulder, spiteful,
Cast lots for the sun.
To bank-thugs everywhere: God is Fair.
Just another reason to avoid digital fiat money… A little artistic foreshadowing: http://www.chriscollinssculpture.com/www.chriscollinssculpture.com/Capital.html#8
We are finding that some wages have not been transferred to employees accounts in a few different banks this morning. I am with the co-operative, we have someone at Lloyds TSB who also has nothing and another person at at unknown bank.
BBC talking head idiot on this morning blabbering how customers at RBS are having various problems with wages not turning up and suchlike. What exactly are they covering up? Bank run? Unannounced bank holiday?
It’s all very well saying have plenty of cash here comes the black swan, but some of us run pretty close to our means. I have a silver and gold coloured emergency stash though.
Tech issues the same day of the Moody downgrade? What are the odds of that
@Martin
I’m with the Cooperative, I hope there’s no problems there, I just moved
from Barclays.
Anyway, isns’t the NatWest too big to fail?
@ jayzio – Its definitely been out in two versions. I know it was £1500 as the first time I saw it my reaction was who has that kind of money to transfer on the spur of the moment. Perahps they decided £200 was a more realistic amount, who knows? But obviously still involves work in filming re-editing etc. Or maybe they have different amounts targeted at different tv channels (viewer classes). Whatever, as said before curious.
Listening to Irish radio here, it sounds like daylight robbery.
@Blah Blah:-
Yep! & Along with the Bus strike folks are skint until Monday!!! ;^D
Frances snoot… mmm. What is that herb you take?
I’m sure there is a simple, non-conspiracy reason why this happened.
I just havn’t heard it yet.
The Government’s Plan to Steal Your Money – DailyReckoning dot com
Hey, guise, calm down.
Natwest say….
“This problem is strictly of a technical nature and we are working hard to fix it as soon as possible.”
http://www.natwest.com/personal.ashx
Patronising mutherfuckers.