Published: Wed, April 25, 2018
Finance | By Loren Pratt

TSB boss 'really sorry' for online banking meltdown

TSB boss 'really sorry' for online banking meltdown

Chief executive Paul Pester said "our internet banking and mobile app isn't functioning as well as it should be".

The bank's online services have been down for nearly a week, after TSB's planned migration off former parent Lloyds' tech infrastructure - some five years after its split from the group - was a resounding failure.

Embattled bank TSB has claimed its IT systems are now "up and running" - despite many users still reporting they can't get into their accounts.

Anyway it's not very interesting and we're sorry if you have an account with TSB and are in a financially perilous state where your pennies need checking and organising on a daily basis and this is a therefore total stress nightmare, but it is a little bit amusing to see a bank have such a vast and public IT disaster.

The bank has vowed to compensate any customer left out of pocket from the IT gremlins, but is likely to face a fine from the regulator.

Meanwhile, the bank is remaining tight-lipped about what has caused the problems, although its Spanish owner Sabadell yesterday issued - and then quickly pulled - a post bragging about its IT integration successes.

TSB, owned by Spain's Banco Sabadell, on Tuesday had said it needed to take its mobile application and online banking down for a "few hours" after working for 48 hours to fix the problems.

TSB warned its users that it was carrying out upgrades at the weekend between 16:00 BST on Friday and 18:00 on Sunday.

"I have tried again and can't access anything now, It's a complete shambles". We're a small company of three and now can't pay wages or suppliers.

"I spent an hour and a half to make one payment".

Others took to Twitter to express their anger or worry about charges.

Following the changeover, customers were left unable to view their balances, and some were given access to other people's accounts.

Nicky Morgan MP, chair of the Treasury select committee, said in a letter to Pester: "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".

Like this: