Bangkok Bank (BBL) has clarified that its electronic banking system glitch on Wednesday stemmed from a high transaction volume and the value of fundraising schemes to help combat Covid-19 exceeding limits, not the bank's system capacity.
The bank sets limits for money transfers in terms of both transaction volume and value per account per day to comply with cybersecurity rules and prevent financial fraud. The flood of transactions led to a traffic jam of the bank's electronic channel, said BBL executive vice-president Thaweelarp Rittapirom.
The glitch in BBL's electronic banking system affected ATMs, internet banking and mobile banking. Consumers who made financial transactions through these channels either failed to access the service or had a slow transaction process throughout Wednesday.
"The system outage was not a result of the bank's digital banking transaction capacity. We have enough capacity to support a lot of transactions as more people work at home during the outbreak," Mr Thaweelarp said.
The bank's system for all channels has returned to normal, he said. BBL will check and update uncompleted transactions within 24 hours, said Mr Thaweelarp.
BBL, the country's third largest bank by total assets, will also consider relaxing conditions concerning cash amounts and transaction limits during the outbreak to prevent another glitch.
The eased conditions will allow banking transactions to better flow to keep pace with customers' higher demand for online banking transactions amid the outbreak.
A source in banking circles who requested anonymity said money transfers to a Covid-19 campaign account at BBL peaked at 500,000 within a short period, with small-ticket transactions of less than 100 baht each set by the donation campaign.
To solve the problem, BBL has shifted the account to corporate from individual, enabling it to service larger transaction volumes and value, the source said. Those running the donation campaign are opening accounts at other banks for donations.