MPs demand answers from TSB over online banking 'meltdown' following platform migration

Joann Johnston
April 25, 2018

On Wednesday he tweeted: "Our mobile banking app and online banking are now up and running".

No one would be left out of pocket, he added. Please bear with us and I will keep you updated'.

TSB warned customers before the weekend that some of its online banking and money transfer services would be "unavailable" while it completed maintenance and upgraded its IT systems, which were once linked to its former parent, Lloyds Bank.

However, the reality is somewhat different, as users are being told that the bank is "limiting access" to the app and online banking, with only a few allowed to log in at once.

Other customers, meanwhile, report erroneous account details, including someone who, overnight, apparently acquired significant arrears in their mortgages - which had also been re-denominated into United States dollars.

TSB customers, hit by the bank's massive computer failure, can now access their accounts on mobile and internet platforms.

"This is yet another addition to the litany of failures of banking IT systems".

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Nicky Morgan, chair of the British parliament's influential Treasury Select Committee, said customers deserved to know how they can expect to be compensated and that she would be writing to the FCA (UK finance regulator) on the matter.

MPs have demanded answers from the bank about the IT meltdown.

TSB's social media ninjas are trying to issue personal apologies to all the disappointed customers out there - which mostly consists of directing them to the already clogged phone lines - but users have yet to receive an apology by other means, such as text or email.

A small business told the BBC it had taken an hour and a half to make one payment online, making it hard to pay wages or suppliers.

TSB owner Sabadell had initially said the move was a triumph, issuing a statement on Monday on the "successful" completion of the migration according to an archived snapshot of the release on the bank's website seen by Reuters.

Bank TSB has said its online banking systems were switched back on as of Wednesday morning, following days of problems following on from a botched system switchover at the weekend.

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