NatWest and RBS customers are panicking after thousands of payments went ‘missing’ overnight

RBS has alerted customers that up to 600,000 overnight payments may be ‘missing’ from bank accounts at NatWest, Coutts and Ulster Bank due to a technical glitch, sparking a string of complaints over “yet another Natwest blunder”.

RBS said in a statement that the issue, which “resulted in a delay to payments and Direct Debits being applied to some customer accounts”, was now resolved, but it could take days to clear up.

It said: “We have fixed the underlying issue, we apologise for the inconvenience caused and we are working flat out to get these payments updated for our customers no later than Saturday. Continue reading

RBS to cut 30,000 jobs by slashing its investment banking division

The bank, 81 per cent owned by the taxpayer, has already axed 40,000 posts since it was bailed out by the government in 2008

Royal Bank of Scotland is gearing up for further job cuts as it prepares to focus on the high street and withdraw from riskier investment banking activities.

It now aims to cut up to 30,000 more posts by offloading parts of its international business and slashing its investment banking division. Continue reading