Bank Error allows Customers with no money to withdraw N833k

A banking services IT glitch in Ireland allowed customers with insufficient funds to withdraw up to N833,000 from ATMs, resulting in a surprising turn of events.
Bank of Ireland ATM stand
Bank of Ireland ATM

Videos circulating on social media depict individuals queuing up at ATMs, seemingly accessing funds despite having empty accounts. However, the bank has issued a warning that the withdrawn amount will eventually be debited from their accounts.

The Bank of Ireland experienced a significant IT error within its banking app, which led to an unexpected rush for accessible cash, as reported by The Sun. Footage shared online showcased numerous customers preparing to make withdrawals from ATMs. Even those with low balances or no money were able to transfer up to 1000 Euros, approximately N833,000.

Amidst the frenzy, the Bank of Ireland issued a cautionary statement, notifying customers that any funds they transfer or withdraw, even beyond their usual limits, will ultimately be debited from their accounts.

The bank emphasized that while it recognizes the difficulty customers might face in checking their balances during this period, it is advised not to make withdrawals or transfers that could result in overdrawing.

Furthermore, the bank acknowledged the ongoing challenges faced by customers attempting transfers through their banking app. A statement released by the bank mentioned, "We are aware that customers using our mobile app and 365Online are currently experiencing difficulties. We are working to fix this issue as quickly as possible and apologize for any inconvenience caused."

A Twitter video shared by Chris Rattigan showcased a crowd gathered around an ATM, sparking discussions about the potential need to deactivate the cash machines temporarily.

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