More TSB customers affected by IT failures

TSB has been hit by an IT failure that has left customers waiting for wages and other payments to be made into their accounts.

The bank said that those affected by the failure would not be left out of pocket, and that it is possible to receive emergency cash in branches or over the phone, but many customers have complained about long waiting times for calls.

The latest IT issue comes less than a month after a report from the Treasury Committee had suggested the current level of IT failures in the financial services sector was ‘unacceptable,’ as well as just days since TSB was criticised for the IT failures in April 2018 that impacted 1.9 million customers.

An investigation into that incident had found the bank's board lacked ‘common sense’ when it was planning to switch its customers towards a new IT system – which an independent report suggested had not been properly tested before going live.

The total number of affected customers by TSB’s latest failure is still unclear and it remains unknown when the problem will be fixed.

    Share Story:

Recent Stories

Will open banking revolutionise the lending industry
Adam Cadle speaks to Jack Tenwick, Head of UK Sales, Yolt Technology Services, about how to get the most out of your lending business and the role of open banking

Mortgage Insider Series 2 Episode 5: Outlook for the UK economy
Listen to our latest episode where we discuss the outlook for the UK economy. We hear from William Hobbs, Chief Investment Officer at Barclays Investment Solutions, who gives his view on what lies ahead for the UK after an unprecedented year of lockdowns, economic turbulence and business uncertainty.


Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.