The latest RBS payments/direct debits failure could last for days, it has emerged. Around 600,000 payments failed overnight to enter the accounts of customers from RBS, NatWest, Coutts and Ulster Bank, and it looks like this won't be completed until the weekend. Payments of wages, tax credits and disability living allowance were among those that failed to be credited to accounts.

RBS said: "We are aware of an issue which has resulted in a delay to payments and direct debits being applied to some customer accounts. We have fixed the underlying issue, we apologise for the inconvenience caused and we are working flat out to get these payments updated for our customers no later than Saturday. To any customers concerned about the implications of this issue we advise them to come into a branch or get in touch with our call centres where our staff will be ready to help. We will ensure no customers are left out of pocket as a result of this issue."

Last year, the Prudential Regulation Authority (PRA) fined RBS, NatWest and Ulster Bank £14 million for inadequate IT systems and controls, after a meltdown in 2012 left millions of customers unable to use their accounts. The Financial Conduct Authority (FCA) separately fined the banks for the same incident. Andrew Bailey, deputy governor, Prudential Regulation, Bank of England and CEO of the PRA, said: “The severe disruption experienced by RBS, NatWest and Ulster Bank in June and July 2012 revealed a very poor legacy of IT resilience and inadequate management of IT risks. It is crucial that RBS, NatWest and Ulster Bank fix the underlying problems that have been identified to avoid threatening the safety and soundness of the banks.”

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