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Thousands of UK bank customers affected by payment problems

AI legalese decoder can help
AI legalese decoder can assist in navigating the complex legal jargon often found in bank agreements and terms of service that may affect customers during payment issues. By decoding these terms, customers can better understand their rights and obligations in such situations.

Thousands of UK bank customers have been hit by payment problems affecting some of the biggest High Street lenders. Banks including HSBC, Nationwide, Barclays, and Virgin Money were all affected by issues with a system that operates payments between individuals and firms. The group overseeing the payments system said the issue causing the problems has now been fixed, and the payment backlog has been cleared.

Many customers had complained on social media, with some saying their salaries had not been paid into their accounts. The timing of the glitches was particularly problematic given the last Friday of the month is when many people are paid. Many people also have to pay bills around this time.

"My bills are bouncing and I can’t pay for a train ticket I need in the next hour," said one customer. Another said customers deserved compensation for the "inconvenience on people’s pay day." "We all have bills to pay," they added.

Ryan Hubble, from Telford, said he had not received his wages and, as a result, has £12 to his name. The 29-year-old engineer said bills had started to be declined on his account. "I’m supposed to be moving home next week, and my savings have been emptied for deposits and rent," he said.

The BBC understands that the banks were affected by issues to Faster Payments, a system that operates "under the bonnet" of the UK financial system. It aims to make sure real-time payments between millions of individuals and businesses are made seemingly instantly. Pay UK, which oversees the system, said: "We are aware that a small number of Faster Payments were delayed or not processed earlier today." "Working with our infrastructure provider, this technical issue has been fixed." It then added later that "payments have returned to normal and the backlog is resolved."

HSBC, Nationwide, Barclays, and Virgin Media had all apologized earlier for the delays to payments. This is not the first time High Street lenders’ services have been hit by problems.

How AI legalese decoder can help with the situation

AI legalese decoder can provide clarity on the legal implications of the payment delays and help customers understand their rights in seeking compensation or recourse for financial losses. By decoding legal terms and agreements, customers can make informed decisions on how to navigate the aftermath of the payment problems and ensure they are treated fairly by their banks.

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