Bank of Ireland Addresses Technical Glitches

The Bank of Ireland (BIRG.I) recently resolved a technical glitch that allowed certain users to exceed withdrawal and transfer limits. This issue led to significant attention on social media and subsequent queues at ATMs.

Via the bank’s digital app, users with minimal or zero balances could transfer up to 1,000 euros ($1,090) to digital banking platforms, like Revolut, making it accessible via ATMs.

Social Media Impact: The glitch became widely discussed on the social media platform X, formerly Twitter. Photos illustrating long lines at various ATMs were shared.

Reuters Observation: A Reuters journalist found no such queues in Dublin’s center on Tuesday evening.

Official Statement: Bank of Ireland confirmed that the disruption was due to a technical issue which has since been addressed. All affected services were resumed by Wednesday morning.

Financial Concerns: The bank assured that transactions made during the glitch would be rectified. Customers who may face financial strain due to the glitch are encouraged to reach out.

Governmental Involvement: Irish Finance Minister, Michael McGrath, has urged the central bank to investigate the matter comprehensively and ascertain if more preventive measures are needed in the financial sector.

Central Bank’s Role: They are actively monitoring the situation, working closely with the Bank of Ireland to ensure all customer concerns are addressed promptly.

Bank’s Response to Queries: When asked for a detailed explanation, the bank reiterated the root cause as a mere technical malfunction and regretted any inconvenience caused.

Online Services Alert: Bank of Ireland hinted at potential delays in online services on Wednesday due to backlogged transactions.

Transaction Volume & Charges: A representative clarified that the number of transactions on Tuesday wasn’t unusually high. Additionally, no interest would be charged on overdrawn amounts.

Initial Communication: The bank initially alerted users about the issues with their mobile and online platforms at 1450 GMT on Tuesday.

Customer Feedback: Complaints included not being able to access accounts online, declined card payments, and withdrawal restrictions.

Revolut’s Stance: Revolut, one of the digital banking platforms involved, refrained from immediate comments. It’s noteworthy that Revolut has previously announced having over two million customers in Ireland.