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TSB chief promises compensation over online banking 'meltdown' as MPs demand answers - business live TSB chief promises compensation over online banking 'meltdown' as MPs demand answers - business live
(35 minutes later)
TSB isn’t the only bank suffering problems, today.
Ulster Bank, part of Royal Bank of Scotland, has admitted that money has been mysteriously vanishing from some customer accounts in recent days.
It is now offering emergency funds to those affected, with many people reporting that their salaries have disappeared....
Just checked. Account balance €0.00. Salary appeared yesterday. Gone today. @UlsterBank_Help #UlsterBank https://t.co/Rm5ZB8je5H
@michellehtweet @UlsterBank my salary no longer in my account, it was there last night and now overdrawn so can't use get my money.
@UlsterBank_Help My salary has disappeared from my account today and my wife had her card declined when trying to pay for a GP visit and medication. Extraordinary how often this kind of issue happens with this bank. Time to change to a competitor I think!
The Irish Times has more details:
Money, including monthly salaries has been disappearing from the accounts of Ulster Bank customers since the weekend prompting the bank to launch what it says is an urgent investigation.
The issues are not expected to be resolved until tomorrow morning at the earliest.
The bank has told impacted customers, who find their accounts overdrawn as a result of the problems, that they will not be out of pocket once the issue is resolved. And it said it will be making emergency cash of up to €500 available to customers who need it.
Ulster Bank customers began reporting issues in significant numbers on Monday and hundreds of complaints have now been posted across social media networks from people who have had money disappear from their accounts leaving them without the funds to pay direct debits which are due.
In others instances customers have had their Ulster Bank credit and debit cards declined when making purchases.
It appears that money lodged since Friday has left customer accounts.
@UlsterBank @UlsterBank_Help All my monies gone too leading to arrears on my account.. even my savings account money was halved...!! I hope I won't be charged an overdrawn fee.. if anything we should be compensated... looking to see my accounts return to normal soon!
Reuters is reporting that more than 400 TSB customers were shown the wrong account details when they logged in after its IT migration.Reuters is reporting that more than 400 TSB customers were shown the wrong account details when they logged in after its IT migration.
Here’s the details:Here’s the details:
Britain’s TSB bank, owned by Spain’s Banco Sabadell, took down its mobile app and online services on Tuesday in an attempt to fix technical problems which have locked customers out of their accounts.Britain’s TSB bank, owned by Spain’s Banco Sabadell, took down its mobile app and online services on Tuesday in an attempt to fix technical problems which have locked customers out of their accounts.
The bank said about 402 customers on Sunday were able to see data that they would not usually see online, often of so called ”connected accounts” that family members typically use.The bank said about 402 customers on Sunday were able to see data that they would not usually see online, often of so called ”connected accounts” that family members typically use.
TSB Chief Executive Officer Paul Pester said he had worked for 48 hours to fix the problem but that the bank had to takedown both the mobile app and online banking again on Tuesday.The services should be working later today, he said.TSB Chief Executive Officer Paul Pester said he had worked for 48 hours to fix the problem but that the bank had to takedown both the mobile app and online banking again on Tuesday.The services should be working later today, he said.
“I’m truly sorry,” Pester said in a statement. “Customers can rest assured that no one will be left out of pocket as a result of these service issues.”“I’m truly sorry,” Pester said in a statement. “Customers can rest assured that no one will be left out of pocket as a result of these service issues.”
Pester has written to each customer to apologise.Pester has written to each customer to apologise.
TSB’s service status website shows the full extent of the IT problems - and it’s not a pretty sight.TSB’s service status website shows the full extent of the IT problems - and it’s not a pretty sight.
For internet banking, for example, there are issues with one-time passwords, mortgages, savings accounts, credit cards, loans, business internet banking, overdrafts, account balances and transactions, and online messages and documentation.For internet banking, for example, there are issues with one-time passwords, mortgages, savings accounts, credit cards, loans, business internet banking, overdrafts, account balances and transactions, and online messages and documentation.
I’m not sure what that leaves, frankly.I’m not sure what that leaves, frankly.
On credit cards, customers are currently unable to make balance transfers online or raise their borrowing limits; the issue will be fixed ‘soon’.On credit cards, customers are currently unable to make balance transfers online or raise their borrowing limits; the issue will be fixed ‘soon’.
Savers can’t renew their accounts online, or transfer an ISA - this will be fixed ‘by the end of April’.Savers can’t renew their accounts online, or transfer an ISA - this will be fixed ‘by the end of April’.
TSB’s text-messaging service is also wounded; some customers aren’t receiving them at all, and a solution may not come until the end of the month.TSB’s text-messaging service is also wounded; some customers aren’t receiving them at all, and a solution may not come until the end of the month.
The @TSB service status site is talking about "the end of April" for many services to be restored, like one time passwords or the ability to replace a lost or stolen credit or debit card. So less "intermittent issues" and more honesty needed? 🙄 #tsbdown https://t.co/NTRbHSnw59The @TSB service status site is talking about "the end of April" for many services to be restored, like one time passwords or the ability to replace a lost or stolen credit or debit card. So less "intermittent issues" and more honesty needed? 🙄 #tsbdown https://t.co/NTRbHSnw59
Quite apart from being left ‘out of pocket’, some TSB customers face empty plates unless the bank fixes its IT problems fast.Quite apart from being left ‘out of pocket’, some TSB customers face empty plates unless the bank fixes its IT problems fast.
One, Rachel Pollard, says her card was rejected at the supermarket today:One, Rachel Pollard, says her card was rejected at the supermarket today:
Good old @TSB went to do my food shopping and got to the checkout to find that my card isn’t working. See I’m not the only one. Not only was I left embarrassed but also left without food for my family 😡Good old @TSB went to do my food shopping and got to the checkout to find that my card isn’t working. See I’m not the only one. Not only was I left embarrassed but also left without food for my family 😡
Anybody else with TSB had their card declined today even though they have money on it? 🙃 pretty embarrassing experience #TSBAnybody else with TSB had their card declined today even though they have money on it? 🙃 pretty embarrassing experience #TSB
Outside a TSB branch in the City of London, both business and personal account holders were dismayed and angry at the continuing chaos affecting the bank.Outside a TSB branch in the City of London, both business and personal account holders were dismayed and angry at the continuing chaos affecting the bank.
One businessman, Alex, who runs a professional consultancy firm, said:One businessman, Alex, who runs a professional consultancy firm, said:
“I have salaries to pay today. I’ve had to come down here to arrange for a bulk transfer over to HSBC, and we’ll have to pay the salaries from there. I tried calling their helpline, but after a while the line just goes blank. To be honest, we’ve had grief with them ever since we were moved from Lloyds. They’re not really a business bank.”“I have salaries to pay today. I’ve had to come down here to arrange for a bulk transfer over to HSBC, and we’ll have to pay the salaries from there. I tried calling their helpline, but after a while the line just goes blank. To be honest, we’ve had grief with them ever since we were moved from Lloyds. They’re not really a business bank.”
He added that his company had not been able to see any transactions or payments on their business account since the “upgrade” began on Friday.He added that his company had not been able to see any transactions or payments on their business account since the “upgrade” began on Friday.
A personal account customer, Mac, a retired photographer, said he was “appalled” to discover that all his direct debits had disappeared.A personal account customer, Mac, a retired photographer, said he was “appalled” to discover that all his direct debits had disappeared.
“All my direct debits have disappeared. They were there yesterday, but gone today. And there’s something saying the last payment was in 2099. I’ve also had to change my password to get into the account.“All my direct debits have disappeared. They were there yesterday, but gone today. And there’s something saying the last payment was in 2099. I’ve also had to change my password to get into the account.
“The thing that most infuriates me is the statements coming out of the bank. They are not being honest. They keep saying it’s “intermittent” when it’s not.”“The thing that most infuriates me is the statements coming out of the bank. They are not being honest. They keep saying it’s “intermittent” when it’s not.”
He was heading on holiday tomorrow but had no idea if the usual payments from his account would be made.He was heading on holiday tomorrow but had no idea if the usual payments from his account would be made.
“At first I tried to phone. I was on the line for an hour but then gave up and came down here. They have told me that it will be sorted out in 48 hours from today, but I don’t know what to believe.”“At first I tried to phone. I was on the line for an hour but then gave up and came down here. They have told me that it will be sorted out in 48 hours from today, but I don’t know what to believe.”
Douglas, a university student, was worried if there would be any money in his account by the end of the week:Douglas, a university student, was worried if there would be any money in his account by the end of the week:
“I have been trying to pay in a cheque, which needs to clear by Friday. They can’t tell me when the money will be through. All they could do was give me a receipt and promise that they will try to put it through later. But I need that money by Friday.”“I have been trying to pay in a cheque, which needs to clear by Friday. They can’t tell me when the money will be through. All they could do was give me a receipt and promise that they will try to put it through later. But I need that money by Friday.”
Meanwhile Tara, who is self-employed, was visiting the bank to sort out her VAT.Meanwhile Tara, who is self-employed, was visiting the bank to sort out her VAT.
“I can’t get access to my account and I can’t make any payments. I’ve now got my VAT payment due, and I can’t get any documents to give to my accountant. But they were pretty helpful inside the branch. They’ve said they will email the documents over, and that if I am hit with aVAT fine because of this, they’ll pay it.”“I can’t get access to my account and I can’t make any payments. I’ve now got my VAT payment due, and I can’t get any documents to give to my accountant. But they were pretty helpful inside the branch. They’ve said they will email the documents over, and that if I am hit with aVAT fine because of this, they’ll pay it.”
At the cash machines outside the branch Cathy was closely studying her printed account balance after taking out some cash.At the cash machines outside the branch Cathy was closely studying her printed account balance after taking out some cash.
“I don’t actually do internet or mobile banking, so this hasn’t really affected me. To be honest I wish they had made a mistake and accidentally deposited £13,000 into my account.”“I don’t actually do internet or mobile banking, so this hasn’t really affected me. To be honest I wish they had made a mistake and accidentally deposited £13,000 into my account.”
It’s worth noting that millions of pounds of bonuses to senior TSB staff were dependent on this IT migration.It’s worth noting that millions of pounds of bonuses to senior TSB staff were dependent on this IT migration.
These bonuses were frozen after TSB was forced to delay the move, from Lloyds to its new owner Sabadell, last year.These bonuses were frozen after TSB was forced to delay the move, from Lloyds to its new owner Sabadell, last year.
TSB’s remuneration committee decided not to release the payments until later this year - presumably so they could ensure that the migration had taken place successfully. This included a bonus of over £1m for CEO Paul Pester.TSB’s remuneration committee decided not to release the payments until later this year - presumably so they could ensure that the migration had taken place successfully. This included a bonus of over £1m for CEO Paul Pester.
The Times reported last month that the bank’s workers were lobbying for the bonuses to be axed. They now have a stronger case...The Times reported last month that the bank’s workers were lobbying for the bonuses to be axed. They now have a stronger case...
Sunday Times news editor Becky Barrow is also unimpressed with Pester - and vowing to move her account ASAP...Sunday Times news editor Becky Barrow is also unimpressed with Pester - and vowing to move her account ASAP...
How can @TSB still not have sorted it out?!? I’m leaving (as soon as I can actually get access to my account....). App & website still not working. Not convinced @PaulPester’s statement completely gets how exasperating it has been.How can @TSB still not have sorted it out?!? I’m leaving (as soon as I can actually get access to my account....). App & website still not working. Not convinced @PaulPester’s statement completely gets how exasperating it has been.
Paul Pester has told the BBC that TSB’s online banking service is being taken offline in an attempt to fix its problems - as he tweeted earlier.Paul Pester has told the BBC that TSB’s online banking service is being taken offline in an attempt to fix its problems - as he tweeted earlier.
Apparently things should be a lot better by this evening...Apparently things should be a lot better by this evening...
TSB’s chief exec Paul Pester tells me online banking is being taken down till about 2pm for fixes, he says it’ll be much more responsive by this eveningTSB’s chief exec Paul Pester tells me online banking is being taken down till about 2pm for fixes, he says it’ll be much more responsive by this evening
TSB CEO Paul Pester is taking a hoofing on Twitter from customers, whose patience over the IT problems is being stretched to breaking point.TSB CEO Paul Pester is taking a hoofing on Twitter from customers, whose patience over the IT problems is being stretched to breaking point.
One, Kerrie Britton, reports that her TSB bank card isn’t working.One, Kerrie Britton, reports that her TSB bank card isn’t working.
Well this is wrong!! I am out of pocket. I have money but you're declining my card! Don't worry though Paul, none of us have lives to live or mouths to feed! ✊💦Well this is wrong!! I am out of pocket. I have money but you're declining my card! Don't worry though Paul, none of us have lives to live or mouths to feed! ✊💦
A cobbling and key cutting firm in Hoxton, East London, says that several customers haven’t been able to use their cards either:A cobbling and key cutting firm in Hoxton, East London, says that several customers haven’t been able to use their cards either:
I am pleased that you are feeling the STRESS Too.... You have frozen my personal accounts for 41 hrs. past the agreed dead-line. I cannot use my debit card and My business is suffering from TSB Customers not been able to use cards. Do Not Bounce My Cheques. pic.twitter.com/9DAaANuV8RI am pleased that you are feeling the STRESS Too.... You have frozen my personal accounts for 41 hrs. past the agreed dead-line. I cannot use my debit card and My business is suffering from TSB Customers not been able to use cards. Do Not Bounce My Cheques. pic.twitter.com/9DAaANuV8R
Other customers are determined to hold Pester to his promise that ‘no-one will be left out of pocket’Other customers are determined to hold Pester to his promise that ‘no-one will be left out of pocket’
I expect you to be paying all my overdraft and late payment fees then as I am not going to be penalised for having no choice but to miss paying bills and buying food etc as I can't access my account to pay my bills and transfer money etc.I expect you to be paying all my overdraft and late payment fees then as I am not going to be penalised for having no choice but to miss paying bills and buying food etc as I can't access my account to pay my bills and transfer money etc.
You are going to have to show some major apologies to us.Think carefully how you are going to do that.I think we need some kind of reward for putting up with the last few days.You are going to have to show some major apologies to us.Think carefully how you are going to do that.I think we need some kind of reward for putting up with the last few days.
From seeing unknown transactions to not being able to complete a house purchase, readers have been in touch with us about their experiences with TSB.Samantha from Doncaster logged in yesterday only to find the account she was looking at was not her own:From seeing unknown transactions to not being able to complete a house purchase, readers have been in touch with us about their experiences with TSB.Samantha from Doncaster logged in yesterday only to find the account she was looking at was not her own:
“Yesterday morning I could see I had £200 more than what I should have. After logging off and then on again I could see the transactions were completely different to mine. After getting to work and checking the cash machine my account balance was shown at £0 and then 20 minutes later £245 - all these amounts were wrong. By the evening my accounts had vanished and now I am unable to get back in. Luckily I took cash out on Friday but it is disgusting! All I can do is hope that someone is not looking at my account like I was looking at theirs. I tried to call TSB yesterday and got an automated person speaking and then the phone went dead.”“Yesterday morning I could see I had £200 more than what I should have. After logging off and then on again I could see the transactions were completely different to mine. After getting to work and checking the cash machine my account balance was shown at £0 and then 20 minutes later £245 - all these amounts were wrong. By the evening my accounts had vanished and now I am unable to get back in. Luckily I took cash out on Friday but it is disgusting! All I can do is hope that someone is not looking at my account like I was looking at theirs. I tried to call TSB yesterday and got an automated person speaking and then the phone went dead.”
Claire in Bristol is worried the purchase of her first home will fall through:Claire in Bristol is worried the purchase of her first home will fall through:
“Our agreement in principle was arranged over the phone last Tuesday, but it has not yet arrived and the mortgage team at TSB said they cannot access our file due to the IT crisis. We tried over the phone and in branch and no one can get us a copy. If we don’t have one by the end of the day we will no longer be accepted to purchase our home.”“Our agreement in principle was arranged over the phone last Tuesday, but it has not yet arrived and the mortgage team at TSB said they cannot access our file due to the IT crisis. We tried over the phone and in branch and no one can get us a copy. If we don’t have one by the end of the day we will no longer be accepted to purchase our home.”
Andrew, 44, who is a company director in Selby has had enough and is looking at moving his accounts:Andrew, 44, who is a company director in Selby has had enough and is looking at moving his accounts:
“Both my current account and savings accounts are held with TSB and not having access to these funds is both frustrating and very disappointing.“Both my current account and savings accounts are held with TSB and not having access to these funds is both frustrating and very disappointing.
Having been a loyal customer for over 15 years despite various campaigns from other banks offering better products and services this latest problem is the final straw and I’ve completed the paperwork to move all my accounts to First Direct. If I cannot trust TSB to provide me with secure access to my accounts why should I leave my funds with them?”Having been a loyal customer for over 15 years despite various campaigns from other banks offering better products and services this latest problem is the final straw and I’ve completed the paperwork to move all my accounts to First Direct. If I cannot trust TSB to provide me with secure access to my accounts why should I leave my funds with them?”
You can tell us about your experience here.You can tell us about your experience here.
Financial analyst John Cronin of Dublin-based stockbrokers Goodbody says TSB has “botched” its long-awaited decoupling from Lloyds’s IT systems.Financial analyst John Cronin of Dublin-based stockbrokers Goodbody says TSB has “botched” its long-awaited decoupling from Lloyds’s IT systems.
Cronin says:Cronin says:
TSB finally cut the last of its links to Lloyds last weekend, completing its separation from the group’s technology systems. Services for customers were limited over the weekend as the migration was completed. However, it is apparent that the disruption continued into Monday with customers still complaining about various issues on Monday afternoon.TSB finally cut the last of its links to Lloyds last weekend, completing its separation from the group’s technology systems. Services for customers were limited over the weekend as the migration was completed. However, it is apparent that the disruption continued into Monday with customers still complaining about various issues on Monday afternoon.
Based on a review of customer complaints on Twitter, we found that several customers are alleging data breaches – with some customers noting their ability to access other customer’s funds.Based on a review of customer complaints on Twitter, we found that several customers are alleging data breaches – with some customers noting their ability to access other customer’s funds.
Cronin thinks the mess could hamper TSB’s efforts to tap a £825m pot of government fund set up to help ‘challenger banks’ win customers.Cronin thinks the mess could hamper TSB’s efforts to tap a £825m pot of government fund set up to help ‘challenger banks’ win customers.
If you’ve been affected by TSB’s online banking failure and would like to share your experiences, anonymously if you prefer, then please do so via the form here.If you’ve been affected by TSB’s online banking failure and would like to share your experiences, anonymously if you prefer, then please do so via the form here.
Your responses will only be seen by the Guardian and we’ll feature some of your responses in our reporting.Your responses will only be seen by the Guardian and we’ll feature some of your responses in our reporting.
Have you been affected by the TSB online banking failure? https://t.co/dMnVUc2oCMHave you been affected by the TSB online banking failure? https://t.co/dMnVUc2oCM
Liberal Democrat peer Paul Scriven is not impressed with Paul Pester’s explanations; he’s planning to move to his money elsewhere:Liberal Democrat peer Paul Scriven is not impressed with Paul Pester’s explanations; he’s planning to move to his money elsewhere:
@TSB @PaulPester So intermittent now is a 4 day thing! Why do you keep lying to us? You know when you take your customers for mugs we leave. Hope you enioy your £100M savings a year the IT change brings. But for me it is hello @firstdirect pic.twitter.com/6dwewgpwcW@TSB @PaulPester So intermittent now is a 4 day thing! Why do you keep lying to us? You know when you take your customers for mugs we leave. Hope you enioy your £100M savings a year the IT change brings. But for me it is hello @firstdirect pic.twitter.com/6dwewgpwcW
BREAKING: Nicky Morgan, the chair of Parliament’s influential Treasury committee, is demanding answers from TSB over the chaos at its online banking systems following its IT migration.BREAKING: Nicky Morgan, the chair of Parliament’s influential Treasury committee, is demanding answers from TSB over the chaos at its online banking systems following its IT migration.
Morgan has written to CEO Paul Pester to ask three key questions:Morgan has written to CEO Paul Pester to ask three key questions:
What exactly has gone wrong?What exactly has gone wrong?
What is the extent of the failure?What is the extent of the failure?
How will TSB compensate customers, especially those who have suffered a breach of potentially highly-sensitive personal data.How will TSB compensate customers, especially those who have suffered a breach of potentially highly-sensitive personal data.
Morgan has excoriated TSB for its failings, saying the bank needs to provide answers - and restore services fast.Morgan has excoriated TSB for its failings, saying the bank needs to provide answers - and restore services fast.
She has also vowed to involve the City watchdog -- which further increases the chances that TSB will be fined over this debacle.She has also vowed to involve the City watchdog -- which further increases the chances that TSB will be fined over this debacle.
As Morgan puts it:As Morgan puts it:
“The reports of unauthorised transactions, access to other customers’ accounts, and failures of in-branch services have all the hallmarks of an IT meltdown.“The reports of unauthorised transactions, access to other customers’ accounts, and failures of in-branch services have all the hallmarks of an IT meltdown.
“This is yet another addition to the litany of failures of banking IT systems. Potentially millions of customers could be affected by uncertainty and disruption.“This is yet another addition to the litany of failures of banking IT systems. Potentially millions of customers could be affected by uncertainty and disruption.
“It simply isn’t good enough to expose customers to IT failures, including delays in paying bills and an inability to access their own money.“It simply isn’t good enough to expose customers to IT failures, including delays in paying bills and an inability to access their own money.
“Warm words and platitudes will not suffice. TSB customers deserve to know what has happened, when normal services will resume, and how they can expect to be compensated.“Warm words and platitudes will not suffice. TSB customers deserve to know what has happened, when normal services will resume, and how they can expect to be compensated.
“I will be writing to the FCA in due course for their assessment.”“I will be writing to the FCA in due course for their assessment.”
Commenting on problems at #TSB, chair @NickyMorgan01 has said it has "all the hallmarks of an IT meltdown". pic.twitter.com/Qp7zGDg5BFCommenting on problems at #TSB, chair @NickyMorgan01 has said it has "all the hallmarks of an IT meltdown". pic.twitter.com/Qp7zGDg5BF
Breaking: TSB’s chief executive Paul Pester has FINALLY commented on the IT problems that are gripping his bank.Breaking: TSB’s chief executive Paul Pester has FINALLY commented on the IT problems that are gripping his bank.
Pester has tweeted that he’s ‘deeply sorry’ for the mess, and revealed that TSB have decided to take their online banking system offline!Pester has tweeted that he’s ‘deeply sorry’ for the mess, and revealed that TSB have decided to take their online banking system offline!
That’s an attempt to fix the problems created by last weekend’s migration to new IT systems.,That’s an attempt to fix the problems created by last weekend’s migration to new IT systems.,
That means that TSB customers are going to face fresh disruption today.That means that TSB customers are going to face fresh disruption today.
Pester has also pledged that no customer will be left out of pocket -- which sounds like a promise to pay compensation to anyone who suffers financial damage from his fiasco.Pester has also pledged that no customer will be left out of pocket -- which sounds like a promise to pay compensation to anyone who suffers financial damage from his fiasco.
I've just resurfaced after 48 hours with my teams who have been working as hard and fast as they can to get our services back up and running.I've just resurfaced after 48 hours with my teams who have been working as hard and fast as they can to get our services back up and running.
This isn't the level of service that we pride ourselves on providing, and isn't what our customers have come to expect from TSB, and for that I'm deeply sorry.This isn't the level of service that we pride ourselves on providing, and isn't what our customers have come to expect from TSB, and for that I'm deeply sorry.
We're still seeing issues with access to our digital services. One of the steps we need to take to resolve this is to take our mobile app and online banking down for a few hours.We're still seeing issues with access to our digital services. One of the steps we need to take to resolve this is to take our mobile app and online banking down for a few hours.
We'll be taking this offline and we hope to be back up later this afternoon. We'll let you know as soon as it's available again.We'll be taking this offline and we hope to be back up later this afternoon. We'll let you know as soon as it's available again.
Of course, customers can rest assured that no one will be left out of pocket as a result of these service issues.Of course, customers can rest assured that no one will be left out of pocket as a result of these service issues.
Many TSB customers fear they will fail to make important payments, or go overdrawn, because they can’t access their bank accounts today.Many TSB customers fear they will fail to make important payments, or go overdrawn, because they can’t access their bank accounts today.
Joanna Walters of Preston is one:Joanna Walters of Preston is one:
Day 4. Still can't access my money. Gonna miss my payments. Gonna go over drawn. Can't put petrol in my car because my money is in my savings account so I can't move it. @TSB gonna lose so many customers. #tsb pic.twitter.com/MdSaN4IjfxDay 4. Still can't access my money. Gonna miss my payments. Gonna go over drawn. Can't put petrol in my car because my money is in my savings account so I can't move it. @TSB gonna lose so many customers. #tsb pic.twitter.com/MdSaN4Ijfx
Hannah Maundrell, editor in chief of money.co.uk, says the bank has fallen short of what’s acceptable - and should compensate anyone who loses out.Hannah Maundrell, editor in chief of money.co.uk, says the bank has fallen short of what’s acceptable - and should compensate anyone who loses out.
“It’s frustrating times TSB customers this morning, especially those waiting to pay their staff or their bills.“It’s frustrating times TSB customers this morning, especially those waiting to pay their staff or their bills.
“TSB are not the only bank to have these issues and our banks really need to pull their socks up because this keeps happening again and again. It’s really not good enough when so many customers are being encouraged to bank online.“TSB are not the only bank to have these issues and our banks really need to pull their socks up because this keeps happening again and again. It’s really not good enough when so many customers are being encouraged to bank online.
“It’s worrying when your bank can’t keep on top of their IT systems and can cause lots of other problems if payments aren’t made or funds aren’t available. We hope that TSB customers wouldn’t be left out of pocket as a result of these issues.”“It’s worrying when your bank can’t keep on top of their IT systems and can cause lots of other problems if payments aren’t made or funds aren’t available. We hope that TSB customers wouldn’t be left out of pocket as a result of these issues.”
A TSB spokeswoman has told us that the bank still doesn’t know what’s gone wrong with the IT upgrade. And she did not know how long it would take to fix the problems, which have affected millions of customers....A TSB spokeswoman has told us that the bank still doesn’t know what’s gone wrong with the IT upgrade. And she did not know how long it would take to fix the problems, which have affected millions of customers....
Shares in TSB’s parent company, Banco Sabadell, dropped by 1% in early trading in Madrid.Shares in TSB’s parent company, Banco Sabadell, dropped by 1% in early trading in Madrid.
Yesterday Sabadell proudly announced that the “Proteo4UK migration” was a success, indeed a new milestone in the company’s history.Yesterday Sabadell proudly announced that the “Proteo4UK migration” was a success, indeed a new milestone in the company’s history.
The project has moved TSB away from its legacy IT systems at Lloyds Banking Group (which spun TSB off in 2013) and onto shiny new kit.The project has moved TSB away from its legacy IT systems at Lloyds Banking Group (which spun TSB off in 2013) and onto shiny new kit.
The move is meant to save around £160m per year -- money that could be put towards customer compensation and fines...The move is meant to save around £160m per year -- money that could be put towards customer compensation and fines...
This is going to stick in the craw for any TSB customers... From yesterday, parent company Sabadell proclaims: "Banco Sabadell successfully completes TSB technology migration" https://t.co/uFA1R4UH94This is going to stick in the craw for any TSB customers... From yesterday, parent company Sabadell proclaims: "Banco Sabadell successfully completes TSB technology migration" https://t.co/uFA1R4UH94