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Computer glitch causes woe for Morgan Stanley customers

US lender Morgan Stanley has been accused of effectively stealing from its British credit card customers because a problem with is new computer system resulted in accounts being incorrectly over-billed.

The computer glitch has reportedly affected around 15,000 Morgan Stanley customers in the UK, the Mail on Sunday has reported. The problem stems from cardholders having what the newspaper describes as ‘bogus interest charges’ added to their balances.

In response to the problem the lender said it worked flat out to resolve the computer error and ensure that customers were reimbursed immediately. A spokesperson added that the problem affected ‘less than 1%’ of Morgan Stanley’s 1.5 million UK credit card customers.