Banks eyeing Y2K bug

From our archives: December 30, 1999

Last updated 05:00 04/02/2013

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Banks are getting ready to eyeball the Y2K bug this weekend and are confident their systems will pass the test.

WestpacTrust Southland area manager Lew Kenah said yesterday he was confident there would be minimal fallout if the bug hit tomorrow night and early Saturday morning.

The bank's telephone banking service might be temporarily overloaded after midnight Friday and between 8am and 10am on Saturday while customers checked their bank balances, Mr Kenah said.

In other respects, it should be business as usual, he said.

The bank had spent two years preparing its systems for the switch from 1999 to 2000, and had been in frequent contact with other banks.

While it was at the mercy of power and phone system failures, the bank was confident its contigency plans would work, he said.

SBS told customers in its December newsletter the society and its major service providers were ready to deal with any Y2K problems.

SBS said it could not safeguard against disruptions to power and telecommunications, but was confident any disruptions would be short-lived.

Bank of New Zealand spokeswoman Sarah Hensley said the bank would have all available staff working at its Central Otago branches for the holiday period.

New Zealand Bankers Association spokesman Colin MacDonald said people would put themselves at far greater risk by taking all their money out of the bank as a Y2K precaution.

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- The Southland Times

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