Ashley steps in to help traders hit by banking IT crisis
With thousands of small traders suffering cashflow problems as a result of IT failures at the banks, Ashley Business Finance has been providing emergency support to its customers.
The company stepped in after receiving calls from small firms whose credit and debit card takings had not paid into their accounts as a result of the problems at NatWest and Bank of Scotland. Ashley has been able to advance the cash to their accounts free of charge to help tide them over until the problem is resolved. The company processed payments to the value of £72,000 on Wednesday and Thursday.
Jeanette Burton of Ashley Business Finance said retail and hospitality businesses were amongst those worst affected. “For many of these businesses, the weekend takings made via card machines may represent the biggest part of their income,” she said.
“Normally the money would be credited to their account by midweek and they would rely on this to pay staff wages and other day to day expenses. A banking IT failure of this type was something they could not possibly have foreseen.
“We pride ourselves on providing a fast and responsive service so are pleased that we have been able to support many small businesses which may otherwise have simply run out of money.”