No glitch, just delay in Security Bank transactions

MANILA, Philippines - Another big bank has been affected by a glitch this month after an incident involving Ayala-led Bank of the Philippine Islands (BPI) and BDO Unibank Inc. of retail magnate Henry Sy. 

In an advisory, Security Bank Corp. said it is undertaking maintenance activities resulting to a delay in posting bank transactions.

The listed bank said it encountered a delay in posting banking transactions on the bank’s systems. 

“We continue to perform system maintenance activities to address this and expect our systems to be fully updated by close of business today. The delay in posting banking transactions does not and will not impact the financial integrity of our customers’ accounts,” the bank said. 

While some services were affected, Security Bank said the delay did not prevent their customers from accessing their funds. 

“Security Bank wishes to apologize for the inconvenience this delay may have caused our valued customers,” the bank added.

Security Bank,  jointly owned by the family of businessman Frederick Dy and Bank of Tokyo – Mitsubishi UFJ Ltd., is the country’s sixth largest bank in terms of assets. 

Client Albert Canzana said he has been trying to encash a check in the Imus branch since Monday but could not do so because of the ongoing maintenance activities.

“Family and friends please do not consider having an account with Security Bank. Frustrating that their system is down for two days,” Canzana tweeted.

Mark Magno tweeted “Whole day banking system is down. No official announcement even on their social media accounts. Is it really BetterBanking at Security Bank.”

The Bangko Sentral ng Pilipinas has yet to wrap up its investigation on the internal data processing error that forced BPI to switch off all electronic channels including its ATM network as well as online and mobile banking services last June 6.

On the other hand, BDO was forced to deactivate several ATM cards that transacted in seven compromised ATMs in three different areas due to a skimming fraud last week.