Jun 2019 Financial News

NCB Financial Group Limited - Delayed Salary Payments

Jun 06, 2019

We continue our effort to address all queries from our customers in relation to salaries processed manually by NCB on their behalf.

Following the system upgrade on May 17, 2019, most of our business customers were unable to submit their salary files electronically in the usual manner. NCB accepted the files from our customers via different communication channels for processing, which led to significant delays as thousands of files were submitted.

Some files were submitted multiple times resulting in duplicate payments which are being reversed accordingly. Whilst we have processed all files submitted, some customers are still experiencing difficulties due to rejection of payments for various reasons including in many cases incorrect account numbers in the files submitted.

We have been working with employers and other banks to process the rejected transactions or to identify alternative ways to pay salaries.

Simultaneously we have also been working to simplify the salary upload process for our business customers so they can effectively upload their own payrolls to eliminate delays due to manual processing. Some have started to upload and we expect remaining business customers should be able to do so within the next few days.

Restoring normalcy to payroll processing and funds transfers remain our top priority. We commit to ensuring that our customers are not penalized as a result of these challenges. All associated late fees and charges will be reimbursed. Customers may bring supporting documents to any branch for processing or email salary@jncb.com.

We sincerely regret the challenges that this upgrade has presented but please be assured that we are working relentlessly to fix these issues and create a better banking experience for everyone. We are asking for our customers to please bear with us while we work to deliver a banking platform worthy of their loyalty.

 

Source:
The Trinidad and Tobago Stock Exchange Limited
Thursday 6th June, 2019