BNF Bank has ensured its customers that all of their funds are safe and that issues relating to fund visibility on their accounts are due to technical issues.

As the bank’s rollout of a major tech update, which included switching from VISA to MasterCard, continues to cause serious technical problems almost a month after its launch, I reached out to the bank to see what it had to say about it all.

“BNF Bank remains a stable and secure financial institution, and we would like to reassure all our customers that their funds are entirely safe,” a bank spokesperson said.

“The recent system change marks a significant milestone in our ongoing digital transformation journey. While transitions of this magnitude can sometimes lead to temporary challenges, we are fully committed to addressing these swiftly to restore seamless customer service.”

“We are maintaining complete transparency and actively communicating with the relevant authorities and regulators, updating them continuously on our progress and efforts to resolve these matters quickly.”

“We wish to clarify that issues relating to fund visibility are due to technical delays affecting transaction postings, and not from any loss of customer funds. Our technical teams are actively resolving these timing discrepancies to ensure clarity, consistency, and accuracy.

“We confirm that the data migration, including accounts and balances, was executed successfully, fully reconciled, and our core banking system remains robust and stable. No customer has lost money during this upgrade.”

“Regarding duplicate transactions, we acknowledge this technical challenge, which has caused some customers to see double entries temporarily. Please rest assured that no one will be charged twice—any duplicated holds are being promptly identified and automatically reversed.”

The bank added that it has “substantially” increased resources across its contact centres and branches to improve response times and customer support in light of the rise in demand.

“We deeply appreciate the patience, trust, and support shown by our customers during this transition,” the bank concluded. “BNF Bank is fully dedicated to providing an enhanced banking experience and is working tirelessly to resolve all outstanding issues promptly.”