Bank of Ireland glitch turns 'no funds' into a cash fiesta

Source: Daily Mail

Bank of Ireland is facing a crisis after thousands of customers descended on ATMs yesterday evening attempting to take advantage of a major IT glitch.

The bank notified customers early yesterday afternoon that there was an issue with its online app and personal banking website, after being flooded with complaints.

And by the evening, customers had detected that they could access cash from ATMs despite having low levels of funds. Gardaí were instructed to clear the queues from ATMs as people lined up to take advantage of the glitch.

Thousands of people were last night queuing around the block outside some branches to withdraw money that they did not have in their own accounts.

Bank of Ireland taking unilateral action to stimulate the economy. Willy wonka quantitative easing evening. And the crowd sang money for nothing and your cheques for free. Oh how we laughed.
I wonder will anybody take the credit for this initiative, surely! pic.twitter.com/fXTbPRnBz5

— BB Baskin (@BB_Baskin) August 16, 2023

A source said: 'Word started filtering through after 5pm that this was happening and it spread like wildfire. There are people with no overdrafts being able to take out a grand that they don't have.

'It's like it's free money, people are saying. Gardaí were told to disperse the queues tonight. These people who took money out will be expected to pay it all back but we're still at a very early stage.'

In some cases, the fault with the online app allowed people who have no money in their account to transfer up to € 1,000 into a Revolut account.

They can then withdraw the cash from the Revolut account through any ATM.

As word and videos spread quickly on social media, the frenzied withdrawal of cash in Dublin, Limerick and Navan, Co. Meath among other locations, continued until the gardaí clamped down despite warnings on social media that there is no such thing as free cash and the money will have to be repaid.

In a statement after 11 pm last night, the Bank of Ireland warned customers that any money taken from their account will be debited.

'We would like to remind customers if transferring/withdrawing funds - including over normal limits - this money will be debited from their account. We are conscious customers may not be able to check balances, but should not withdraw/transfer if they are likely to become overdrawn.'

https://t.co/eEhIxSmIxx pic.twitter.com/ZUJ1WnQloz

— Stephen lyons (@Stelyons1978) August 15, 2023

Yesterday, Bank of Ireland apologized to customers after it said it was hit with unexpected disruption to its mobile app and online services.

Customers were unable to access the bank's mobile app and Banking365 online services for hours, including many Irish customers abroad. Upon opening the app, users are informed they are unable to connect while the website is also unavailable.

Customers reported having no access to their accounts for hours and being unable to transfer money for "important payments".

The issue prompted an initial statement from the Bank of Ireland, saying that it was working to fix the issue as quickly as possible and it apologized for any inconvenience caused.

The bank was inundated with queries from customers on social media.

By 10 pm last night, the bank said it did not have an estimated time for when its mobile app and web service 365Online will be restored.