Bank of Ireland IT Blunder Allows Customers To Withdraw More Money Than What's Held In Their Accounts

Long lines have formed at ATMs around Ireland tonight as a cash machine glitch is allowing customers to withdraw more cash than they have in their accounts. Independent.ie reports: The fault with the online app allows people who have no money in their account to transfer up to 500 euros into a Revolut account. Some people claimed they were able to get access to 1,000 eros, but the bank insisted the daily withdrawal limit is 500 euros. Once people use their Bank of Ireland app to transfer the funds to Revolut they can then withdraw the cash from the Revoult account through any ATM. Huge queues at ATMs in Dublin, Limerick, Dundalk and other parts of the country were reported this evening as people took advantage of the screw-up to withdraw cash from their Revolut accounts. There were reports in Dundalk of gardai (the state police force of the Irish Republic) having to control crowds at ATMs in the town. The frenzied withdrawal of cash was despite warnings on social media that there is no such thing as free cash and the money will have to be repaid. The bank said in a statement: "We are working on a technical issue that is impacting a number of our services including our mobile app and 365Online. We are working to fix this as quickly as possible and apologize to customers for any inconvenience caused." "We would like to remind customers that if they transfer or withdraw funds -- including over their normal limits -- this money will be debited from their account," the bank added. "While we are conscious customers may not be able to check their balance at this time, they should not withdraw or transfer funds if they are likely to become overdrawn."

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