Persons across Ireland formed long queues at ATMs after a glitch saw persons being allowed to withdraw funds despite having no money in their Bank of Ireland account.
However, many persons are now hundreds and thousands of dollars in debt after the bank warned that money withdrawn during IT blunder will be debited as online services restored.
The IT error prompted huge queues at ATMs around the country with some queues were so long that police were deployed to control the crowd.
In a press release, the bank noted that the withdrawals will be applied to customers’ accounts today and urged any customer who overdrew their account to contact the bank.
The error allowed people who had no money in their account to transfer up to 500 Euros or approximately 3700TT into another online bank account and then withdraw the cash through any ATM.
The bank issued an initial warning on social media when the error was discovered telling people that the money would have to be repaid.
This however did nothing to dissuade persons some of whom stood in line for hours to withdraw the cash.
The situation has divided social media with some saying the bank is should absorb the loss as it reported mid-year profits of more than 1billion Euros.