This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.theguardian.com/business/live/2018/apr/24/tsb-online-banking-troubles-uk-public-finances-business-live
The article has changed 15 times. There is an RSS feed of changes available.
| Version 13 | Version 14 |
|---|---|
| TSB battles to fix online banking after days of disruption – business live | TSB battles to fix online banking after days of disruption – business live |
| (7 months later) | |
| More unhappy customers are taking to Twitter, as they realise that TSB has failed to meet its goal of restoring services this afternoon. | More unhappy customers are taking to Twitter, as they realise that TSB has failed to meet its goal of restoring services this afternoon. |
| @PaulPester @TSB it is totally unacceptable in this day and age that your customers can’t access online banking. It has been 5 days now. The whole situation is shambolic, I can’t see what’s going on in my account. After this I will be looking to bank elsewhere. | @PaulPester @TSB it is totally unacceptable in this day and age that your customers can’t access online banking. It has been 5 days now. The whole situation is shambolic, I can’t see what’s going on in my account. After this I will be looking to bank elsewhere. |
| 50 mins waiting on hold so far @tsb !! I need to know how much is in my account and transfer money ! Its not on at all !! I hope i will be compensated for this | 50 mins waiting on hold so far @tsb !! I need to know how much is in my account and transfer money ! Its not on at all !! I hope i will be compensated for this |
| My card is now being declined...because of your system failure....Compensation?! | My card is now being declined...because of your system failure....Compensation?! |
| Tomorrow’s Daily Mail gives TSB a proper roasting - calling it the Totally Shambolic Bank. | Tomorrow’s Daily Mail gives TSB a proper roasting - calling it the Totally Shambolic Bank. |
| They also flag up that TSB fears some problems won’t be solved until the end of this month (the bank’s service status webpage has more details) | They also flag up that TSB fears some problems won’t be solved until the end of this month (the bank’s service status webpage has more details) |
| Wednesday’s @DailyMailUK #MailFrontPages pic.twitter.com/fvFEs7XvD6 | Wednesday’s @DailyMailUK #MailFrontPages pic.twitter.com/fvFEs7XvD6 |
| I fear he’s right.... which means TSB are going to face some tough questions in the morning. | I fear he’s right.... which means TSB are going to face some tough questions in the morning. |
| It’s now looking highly unlikely that TSB’s online bank will be back up and running before tomorrow | It’s now looking highly unlikely that TSB’s online bank will be back up and running before tomorrow |
| TSB has been encouraging customers to contact its telephone banking team with any problems. | TSB has been encouraging customers to contact its telephone banking team with any problems. |
| So, predictably, that service is now overwhelmed by demand. Some people say they had to wait for over an hour, only to be cut off! | So, predictably, that service is now overwhelmed by demand. Some people say they had to wait for over an hour, only to be cut off! |
| I have been on the phone for an hour and a half. This is ridiculous | I have been on the phone for an hour and a half. This is ridiculous |
| I understand that Sophie but isn’t 1 hour and half far too long to ask a customer to wait on the phone? | I understand that Sophie but isn’t 1 hour and half far too long to ask a customer to wait on the phone? |
| Just been cut off again!!!!! 1 hour 14 Minutes!!!??? Absolutely raging now! Missed saying goodnight to my kids bedtime!! What an #absolutejoke #tsb #morestaffontelephones?#tsb should mean #tosufferbad hope your understanding this tsb!! | Just been cut off again!!!!! 1 hour 14 Minutes!!!??? Absolutely raging now! Missed saying goodnight to my kids bedtime!! What an #absolutejoke #tsb #morestaffontelephones?#tsb should mean #tosufferbad hope your understanding this tsb!! |
| A late update: There’s still no sign that TSB has resolved the crisis. | A late update: There’s still no sign that TSB has resolved the crisis. |
| Instead, the bank is still telling customers that it’s sorry, and working on a fix -- the same message we’ve been hearing since Sunday night. | Instead, the bank is still telling customers that it’s sorry, and working on a fix -- the same message we’ve been hearing since Sunday night. |
| We’re truly sorry for the difficulties you’ve experienced over the last few days with a number of our digital services. Please rest assured that we’re working on this as quickly as we can, and we’ll let you know as soon as we have more information. Sophie | We’re truly sorry for the difficulties you’ve experienced over the last few days with a number of our digital services. Please rest assured that we’re working on this as quickly as we can, and we’ll let you know as soon as we have more information. Sophie |
| @TSB this is not good enough. It’s cost me penalty charges for payments I can’t make despite having plenty of funds. I have no confidence in you or your handling of IT into the future. I’ll be leaving as soon as possible | @TSB this is not good enough. It’s cost me penalty charges for payments I can’t make despite having plenty of funds. I have no confidence in you or your handling of IT into the future. I’ll be leaving as soon as possible |
| It’s all gone quiet over at TSB, so here’s our latest news story on the bank’s IT problems: | It’s all gone quiet over at TSB, so here’s our latest news story on the bank’s IT problems: |
| TSB bank faces large compensation bill and fines over online chaos | |
| I’ll be back later if there are any major developments. If TSB don’t get things sorted in the next 12 hours, there could a real backlash on Wednesday. | I’ll be back later if there are any major developments. If TSB don’t get things sorted in the next 12 hours, there could a real backlash on Wednesday. |
| Anger among its customers is already bubbling.... | Anger among its customers is already bubbling.... |
| @TSB it’s 7:30pm. Well past what most people consider late afternoon. When. Will. I. Be. Able. To. Get. To. My. Money? 🗣😡#4days | @TSB it’s 7:30pm. Well past what most people consider late afternoon. When. Will. I. Be. Able. To. Get. To. My. Money? 🗣😡#4days |
| Keeping your customers in the dark is never a good thing... we have necessities to pay for. Sorry is just not good enough after 5 days of not being able to access my account. | Keeping your customers in the dark is never a good thing... we have necessities to pay for. Sorry is just not good enough after 5 days of not being able to access my account. |
| @TSB - come on - you have had long enough to resolve this. Two whole days after when it was supposed to be back up - I need access to my account - "as quickly as we can" is simply not acceptable any more. What is going on? When will it be resolved? | @TSB - come on - you have had long enough to resolve this. Two whole days after when it was supposed to be back up - I need access to my account - "as quickly as we can" is simply not acceptable any more. What is going on? When will it be resolved? |
| Disgusted by @TSB I’ve had mails saying my direct debits haven’t went through because their systems have been down ! I hope you are going to pick up the charges I may now be getting ! Get it sorted TSB what a complete joke ! | Disgusted by @TSB I’ve had mails saying my direct debits haven’t went through because their systems have been down ! I hope you are going to pick up the charges I may now be getting ! Get it sorted TSB what a complete joke ! |
| @TSB still unable to access my account and your phone lines dreadful. It sounds like your underwater. I’m so unhappy with the non assistance I’ve received. How are you able to help anyone access important info? | @TSB still unable to access my account and your phone lines dreadful. It sounds like your underwater. I’m so unhappy with the non assistance I’ve received. How are you able to help anyone access important info? |
| TSB customers continue to report problems tonight, as TSB’s tech staff wrestle with its internet banking system. | TSB customers continue to report problems tonight, as TSB’s tech staff wrestle with its internet banking system. |
| @PaulPester how’s it going Paul? Like many others we have bills to pay, mainly for our children’s planned activities and lessons. Can you drop over £90 to the piano teacher for me? He’s a bit annoyed . Or at least give a timescale of when we can get out transfers going ? #tsb | @PaulPester how’s it going Paul? Like many others we have bills to pay, mainly for our children’s planned activities and lessons. Can you drop over £90 to the piano teacher for me? He’s a bit annoyed . Or at least give a timescale of when we can get out transfers going ? #tsb |
| Anyone else's card declining when you go to pay at till point? Embarrassing and I know I have money @TSB #TSB | Anyone else's card declining when you go to pay at till point? Embarrassing and I know I have money @TSB #TSB |
| My partner has been on the phone for over an hour before being cut off. Why refer people to it when it’s only going to frustrate them more?! Cards being declined leaving people struggling is shocking! | My partner has been on the phone for over an hour before being cut off. Why refer people to it when it’s only going to frustrate them more?! Cards being declined leaving people struggling is shocking! |
| There’s a strong suspicion that TSB rushed its IT migration, leading to the current mess. | There’s a strong suspicion that TSB rushed its IT migration, leading to the current mess. |
| Our financial editor, Nils Pratley, thinks the move was partly driven pressure to get it done before the Bank of England raises interest rates in May (which could spark a rush of customers seeking mortgage deals). | Our financial editor, Nils Pratley, thinks the move was partly driven pressure to get it done before the Bank of England raises interest rates in May (which could spark a rush of customers seeking mortgage deals). |
| But the other driver was cost. | But the other driver was cost. |
| Nils writes: | Nils writes: |
| Under the terms of its separation from Lloyds Banking Group in 2014, TSB effectively pays rent to use its old IT system. The cost of this “transitional service agreement” soared last year from £91.8m to £214m, according to the 2017 accounts. Delay, in effect, was costing £10m-plus a month. | Under the terms of its separation from Lloyds Banking Group in 2014, TSB effectively pays rent to use its old IT system. The cost of this “transitional service agreement” soared last year from £91.8m to £214m, according to the 2017 accounts. Delay, in effect, was costing £10m-plus a month. |
| “We would never rush if we didn’t think we were ready,” said TSB. Banking and data regulators will want to test that statement in detail. | “We would never rush if we didn’t think we were ready,” said TSB. Banking and data regulators will want to test that statement in detail. |
| High cost of more delay forced TSB to upgrade before it was ready | Nils Pratley https://t.co/KRAofxZNLG | High cost of more delay forced TSB to upgrade before it was ready | Nils Pratley https://t.co/KRAofxZNLG |
| TSB CEO Paul Pester is now on Sky News, discussing the IT crisis which forced the bank to take its internet banking and mobile app offline this morning. | TSB CEO Paul Pester is now on Sky News, discussing the IT crisis which forced the bank to take its internet banking and mobile app offline this morning. |
| He says that the vast majority of TSB’s services have been running smoothly since last weekend’s IT migration. | He says that the vast majority of TSB’s services have been running smoothly since last weekend’s IT migration. |
| Q: So what’s gone wrong? | Q: So what’s gone wrong? |
| Pester says that TSB’s website app struggled with a “large number of concurrent users”, who tried to access their accounts on Sunday evening once the migration process was over. | Pester says that TSB’s website app struggled with a “large number of concurrent users”, who tried to access their accounts on Sunday evening once the migration process was over. |
| We didn’t have enough bandwidth to cope, he says - so we’re addressing that problem now. | We didn’t have enough bandwidth to cope, he says - so we’re addressing that problem now. |
| Q: Was the new platform not tested properly? | Q: Was the new platform not tested properly? |
| Pester says there was “extensive testing”, with nine cycles of testing before the bank took the plunge. It’s very hard to recreate how customers are going to use the platform. he says. | Pester says there was “extensive testing”, with nine cycles of testing before the bank took the plunge. It’s very hard to recreate how customers are going to use the platform. he says. |
| Q: When will your internet and mobile banking be back online? | Q: When will your internet and mobile banking be back online? |
| Pester says he’d “love to think” they would be up very soon, ideally this evening (so the old target of this afternoon is officially abandoned). | Pester says he’d “love to think” they would be up very soon, ideally this evening (so the old target of this afternoon is officially abandoned). |
| But this is the biggest bank account migration Europe has seen, and he’s told TSB’s IT staff not to bring services back online until they’re sure they’re ready. | But this is the biggest bank account migration Europe has seen, and he’s told TSB’s IT staff not to bring services back online until they’re sure they’re ready. |
| Q: Are you braced for a big fine from regulators? | Q: Are you braced for a big fine from regulators? |
| Pester says TSB are talking to the FCA (Financial Conduct Authority) and the PRA (Prudential Regulation Authority). Both have been “involved with us on this journey”, he adds, so they know the situation well, and they’re being kept up to speed. | Pester says TSB are talking to the FCA (Financial Conduct Authority) and the PRA (Prudential Regulation Authority). Both have been “involved with us on this journey”, he adds, so they know the situation well, and they’re being kept up to speed. |
| Q: What about compensation? | Q: What about compensation? |
| Any customer who is out of pocket, we will put it right, Pester pledges. | Any customer who is out of pocket, we will put it right, Pester pledges. |
| He says that mortgage services have been running very smoothly, as have ATMs and credit cards. | He says that mortgage services have been running very smoothly, as have ATMs and credit cards. |
| Q: Are you going to lose your bonus? | Q: Are you going to lose your bonus? |
| That’s up to the remuneration committee and the board to decide, says Pester. | That’s up to the remuneration committee and the board to decide, says Pester. |
| He ends by apologising profusely to customers, saying he understands their frustration. | He ends by apologising profusely to customers, saying he understands their frustration. |
| ITV just broadcast more of its pre-recorded interview with Paul Pester. | ITV just broadcast more of its pre-recorded interview with Paul Pester. |
| In it, Pester says his IT staff have told him the online banking would be fixed by 2pm today (it wasn’t!). | In it, Pester says his IT staff have told him the online banking would be fixed by 2pm today (it wasn’t!). |
| Pester, though, is more sceptical so is aiming for mid-afternoon (it wasn’t ready then either!). | Pester, though, is more sceptical so is aiming for mid-afternoon (it wasn’t ready then either!). |
| My colleague Rupert Jones has pulled together a Q&A on the IT crisis at TSB. | My colleague Rupert Jones has pulled together a Q&A on the IT crisis at TSB. |
| Here’s a flavour: | Here’s a flavour: |
| Why was it conducting an upgrade in the first place? | Why was it conducting an upgrade in the first place? |
| TSB was carved out of Lloyds Bank and then bought in 2015 by Spain’s Banco Sabadell. Initially, Lloyds continued to handle the IT infrastructure for TSB, but this upgrade was about moving 1.3bn customer records over to a “state-of-the-art” banking platform called Proteo4UK, designed by Sabadell. | TSB was carved out of Lloyds Bank and then bought in 2015 by Spain’s Banco Sabadell. Initially, Lloyds continued to handle the IT infrastructure for TSB, but this upgrade was about moving 1.3bn customer records over to a “state-of-the-art” banking platform called Proteo4UK, designed by Sabadell. |
| Will I be compensated? | Will I be compensated? |
| TSB said: “Customers can rest assured that no one will be left out of pocket as a result of these service issues.” | TSB said: “Customers can rest assured that no one will be left out of pocket as a result of these service issues.” |
| So that should mean people will be compensated if, for example, they incur late payments fees because they are not able to make a payment. Keep any receipts/paperwork, and visit a branch or call the bank and explain that you want to reclaim your money. | So that should mean people will be compensated if, for example, they incur late payments fees because they are not able to make a payment. Keep any receipts/paperwork, and visit a branch or call the bank and explain that you want to reclaim your money. |
| TSB online banking meltdown – the key questions answered |