The Bank of Ireland said on Wednesday morning, August 16, that it had resolved technical issues that had permitted some customers to withdraw or transfer more money than was available in their accounts. This came after social media reports about the error caused lines at ATMs.

'Free Cash'

(Photo: PETER MUHLY / AFP via Getty Images) A man walks past a Bank of Ireland branch in Belfast, Northern Ireland, on March 31, 2010.

At 2:50 PM GMT on Tuesday, August 15, the bank initially acknowledged that clients using its mobile app and online service were encountering problems. Customers have taken to social media to report that they could not access their online accounts, that their debit cards were being denied, and that they could not withdraw any money from their accounts.

Local media WLR reported on Tuesday that a bug in the bank's web app had enabled users with low or zero balances to transfer up to 1,000 euros ($1,090) into a connected account with a digital banking app like Revolut from which the money could be cashed at an ATM.

Late on Tuesday, Irish police reported that they had seen a surge in activity at a number of ATMs around the nation. After the issue became a trending topic on social networking site X (previously known as Twitter), users purportedly shared photos of long lines at ATMs.

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Restored Banking Services

According to Reuters, a statement issued on Wednesday by the Bank of Ireland, the country's biggest financial institution by assets, said, "Yesterday, a technical issue impacted a number of Bank of Ireland's services. Our teams restored these services overnight, and all services are available to customers this morning."

It added, "We are aware that the technical issue meant some customers were able to withdraw or transfer funds above their normal limits. These transfers and withdrawals will be applied to customers' accounts today."

Irish Finance Minister Michael McGrath has requested an investigation by the central bank into what transpired and what further measures are needed, if any, to mitigate the possibility of future disruptions. Meanwhile, the central bank said it was keeping a close eye on the situation and working with the Bank of Ireland to fix any problems or mistakes that have been found.

A representative for the bank indicated they were unable to offer any more information than that the problem was technical in nature.

Any client who has overdrawn their account and is having trouble making ends meet is strongly encouraged to speak with the bank. Because of the inconvenience this outage has caused, the bank management apologizes, as well.

It also warned that the bank's app and online services might be sluggish on Wednesday as it attempts to catch up with processing payments.

The spokesperson assured consumers that they would not be charged interest on overdrawn accounts since the number of transactions processed on Tuesday night was not typical of normal daily flows.

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