IT Glitch In Bank Of Ireland Allowed Customers To Withdraw Money They Didn’t Have In Their Accounts

An IT glitch in the Bank of Ireland created a brief illusion of free money where some customers were allowed to withdraw or transfer funds above what was in their bank accounts on Wednesday morning. The social media posts about the glitch prompted queues at ATMs where people rushed to cash in. 

Local media reported that the app error allowed customers with low or zero balances to move up to 1,000 euros into another account with a digital banking app, such as Revolut, and that could be withdrawn via an ATM.

The bank apologised for the technical issue and said it had resolved the problem and restored its online banking and mobile app services but warned that any money taken out or moved during the glitch would still be debited from their accounts.

“Overnight payments to accounts may appear throughout the day. We are aware that the technical issue meant some customers were able to withdraw or transfer funds above their normal limits,” the bank said.

The IT issue also affected payments to accounts, which may appear throughout the day on Wednesday. The bank urged customers who may face financial difficulties due to overdrawing on their accounts to contact them.

The glitch sparked reports of some people withdrawing large sums of money, in some cases beyond the funds they expected to be available in their accounts. Photos and videos posted on social media showed queues outside ATMs across Ireland on Tuesday evening. Ireland’s police force, Garda Síochána, said it was aware of an “unusual volume of activity” at some ATMs.

Financial technology firm Revolut said it was “looking into” reports that large amounts of money had been transferred into some customers’ accounts from Bank of Ireland while some customers had posted on social media that they were able to transfer money into their Revolut digital banking app before withdrawing it from a cashpoint.