BANKS were told today they should all be checking their computer systems in the wake of the IT glitch at Royal Bank of Scotland.
Andrew Tyrie, chairman of the Commons Treasury Select Committee, also called on the group to give “clear and straightforward” information to affected RBS, Ulster Bank and NatWest customers to help them seek compensation.
But the Conservative MP also praised RBS chief executive Stephen Hester for doing the “right thing” in taking full responsibility and moving swiftly to fix the far-reaching problem.
RBS set aside £125 million for dealing with the fiasco in its half-year results but warned the costs could escalate while Ulster Bank current account holders will get £20 as a goodwill gesture.
Mr Tyrie said: “Every bank should be checking its IT systems. We need to have confidence that such a failure cannot happen again.”