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Thread: Tiny glitch at HSBC - hundreds of thousands didn't get their direct deposit paychecks today

  1. #1

    Tiny glitch at HSBC - hundreds of thousands didn't get their direct deposit paychecks today

    It's but a glitch. Move along.

    http://www.dailymail.co.uk/money/new...collapses.html

    HSBC have told customers that the 'majority' of payments which failed to reach their bank accounts this morning will be completed this evening.

    Up to 275,000 people were not paid today and went in to the Bank Holiday weekend with depleted accounts after HSBC's payments system failed.

    Britain's biggest bank, which has 16million UK customers, revealed an IT glitch meant they failed to transfer hundreds of millions of pounds on pay day.

    more at link
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book



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  3. #2
    Bank holiday weekend? They make a ton of dough, hanging on to that amount of money for an extra day; especially when they are money laundering for the drug cartels.

  4. #3
    Quote Originally Posted by Dianne View Post
    Bank holiday weekend? They make a ton of dough, hanging on to that amount of money for an extra day; especially when they are money laundering for the drug cartels.
    Perhaps that is the case, but I recall similar problems at some banks right around when shtf in 2008. Some needed emergency loans and such to stay out of insolvency. Of course that wasn't revealed until after they had failed. I'd own no stocks at all going into September...but especially not any bank.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  5. #4
    Quote Originally Posted by Dianne View Post
    Bank holiday weekend? They make a ton of dough, hanging on to that amount of money for an extra day; .
    Normally I'd be inclined to agree but if the cash is in their bank, it really doesn't matter if its credited to the accounts or not in order for them to earn interest in it

  6. #5
    Quote Originally Posted by angelatc View Post
    Normally I'd be inclined to agree but if the cash is in their bank, it really doesn't matter if its credited to the accounts or not in order for them to earn interest in it
    Years ago, many years before its recent bankruptcy, a company I worked for screwed up GM's general ledger software which resulted in missed paychecks and 401k contributions..
    Luckily I wasn't on that project... Still, fun times...



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