28th August 2015
Thousands of employees have been left without wages just before the bank holiday weekend after a payment system problem at HSBC.
The problem means those who were expecting to be paid on the last day of the month will be left without cash for the three-day weekend.
Bacs, the payment system through which transfers are made, has encountered a problem at HSBC – the only bank to be affected by the issue. Businesses who use HSBC to pay wages to staff has been most affected and hundreds of disgruntled business owners and employees have taken to Twitter to complain.
Alan Charlesworth, managing director of legal recruitment company IPS Group said on Twitter: ‘None of my staff have been paid. HSBC When will this be sorted?’
Another Twitter user reported that they could not get through to HSBC on the phone, describing the situation as an ‘absolute shambles’.
Responding via its UK Twitter, HSBC said: ‘There has been an issue affecting Bacs payments by some HSBC customers today.
‘We apologise for any inconvenience caused and are working hard to resolve the issue as quickly as possible.’
Around £50 billion of transactions are processed everyday using Bacs.
Bacs said: ‘Bacs is aware of an isolated issue affecting one of its member organisations. The Bacs system is operating as normal and we are currently working with our partners to help resolve this as quickly as possible.’
The Bank of England has also been contacted by HSBC along with the City watchdog, the Financial Conduct Authority.
There have been a number of high-profile technical problems at high street banks over recent years. Nationwide customers have been locked out of online and mobile banking several times in the past two years and 12 million people were affected by a major computer failure at RBS-owned Natwest in 2012 caused by a software upgrade.