Crestar has 'y2k resource script' are practicing for the big daygreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Today I went into Crestar to cash a check. All of the tellers were huddled around each other looking at a 'y2k resource script'. As one of the tellers came over to cash my check, I could hear the older teller saying to the others.
"Doing transactions manually really isn't that tough. Once you do a few of them, it gets really easy."
I don't know if this means that Crestar is simply considering all possiblities, or if they are toast. I'm going back tomorrow to conduct more banking business and will try to find out more.
-- John Ainsworth (firstname.lastname@example.org), December 13, 1999
Advice: see how adept they are at manually converting electronic money to cash.
-- King of Spain (email@example.com), December 13, 1999.
Good advice, KOS. The sooner, the better...
-- Nabi (firstname.lastname@example.org), December 13, 1999.
Wife and I used Crestar for 3 years when we lived in Williamsburg VA. At the time, we had never had so many errors, misplaced money, wrong statements, etc. If only one bank was to go under due to the rollover, I would bet Crestar would be it. Second would be First Star in Maysville, KY. Get this: When we built our retreat, we had an escrow acct. for $117K. We maxed it out, then added our own funds for finish up work. When we closed, First Star said we owed $112K. Argue as we might, we couldn't convince them that we actually owed them $117K. So, we had the extra dough. To date, they have not found where the error was! I even tried to pay it! My step-mom retired from a bank, and I remember she would stay to 10PM to find a nickel!
-- Y2Kook (email@example.com), December 13, 1999.
Performing transactions manually in a branch IS easy. You just exchange bits of paper.
The hard bit is recording and propagating them. Without reliable computerised databases or vastly more staff, it can't be done any more.
-- Servant (firstname.lastname@example.org), December 14, 1999.
I use Crestar, so I've watched them closely. They were the first commercial bank in Virginia to start working on their code. They've been at it a long time. They were checking the timelocks on their vaults over two years ago. Their backup plans to go manual being exercised is a good sign. I could name you a couple of other banks which appear to be hosed, from their past history of IT incompetence and lack of solid information about progress.
-- ng (email@example.com), December 14, 1999.