Tuesday, December 16, 2014 - 08:31
Netherlands tops for internet bank failures worldwide
Citizens of the Netherlands have to deal with the most online banking failures in the world. Customers of ING suffered most often from a failure in the last year. The bank had a major failure on 48 days. That is slightly more than Rabobank, who had 45 major failures, and ABN Amro who had 39. This states the website Allestoringen (all faults), which made an analyses of the failures of the three largest Dutch banks. Allestoringen received reports of failures through social media and on its website. A failure is classified as "major" when the number of reports are 150 percent higher than in a regular failure. According to the site, the Netherlands had an average of one major failure every eight days. The number of failures, including the smaller ones, in the three largest Dutch banks, have increased significantly compared to last year. ING saw an increase of 221 percent, Rabobank 108 percent and ABN Amro 160 percent. According to Allestoringen, the Dutch top three do not hold up well internationally. Similar sites in other countries have measured a much lower number of failures. The 10 banks with the most major failures are ING (48), Raboobank (45), ABN Amro (39), Nationwide from the United Kingdom (13), Barclays from the United Kingdom (13), Banco do Brasil from Brasil (11), Lloyds Bank from the United Kingdom (10), Caixa from Brasil (10), Banco Itau from Brasil (9) and Natwest from the United Kingdom (8).