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Bank of England Payment System Crashes Overnight Print E-mail
by Tom McGregor    Tue, Oct 21, 2014, 12:04 am

The computerized payment system for the Bank of England collapsed overnight.

The Guardian reports that, "The Bank of England apologised last night after a crucial payments system collapsed, forcing Mark Carney to launch an urgent investigation following the delay of hundreds of thousands of payments, including for homebuyers waiting for money to be transferred to pay for their new homes."

The breakdown lasted for ten hours.

According to the Guardian, "The Bank of England governor promised a “thorough, independent review” after MPs demanded answers into how the system which processes payments worth an average £277bn a day had failed for nearly 10 hours."

Bank of England customers faced serious difficulties, since those affected were making housing mortgage payments.

To read the entire article from the Guardian, link here:

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