Jan 2, 2009

£100 Billion Overdraft Error

As the whole world is being hit by credit crunch, a student in Ayrshire, UK, got hit by a £100billion overdraft shock! According to Donald Moffat, 38, his Barclays account was showing two separate withdrawals of £50 billion each. It was definitely an error, but was more than enough to give someone a severe headache!

According to BBC, the Barclays confirmed that it was "technical error" and apologized to Moffat. In a statement Barclays said: "A technical error caused some customer accounts to be incorrectly debited. The problem was immediately identified and corrected within less than an hour, and all affected customer accounts are now showing correct balances."

The bank also offered a compensation of £10, for the phone calls that Moffat had to make to resolve the issue. But, Moffat is not happy with the amount, as it is nothing compared to the stress that he went through trying to resolve the £100bn overdraft issue.

This is really not a perfect time for such errors. Someone may get heart attacks after looking at such horrible bank statements. What you say?


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