TSB customers are experiencing problems accessing their accounts for a sixth day, despite assurances from the bank’s chief executive that its internet and mobile services were up and running.
As one of the biggest technology crises for years in Britain’s banking sector rumbled on, some distressed customers said that although they could access the TSB app, their mortgages seemed to have disappeared.
Stacey Kavanagh was one of several who complained on Twitter that her mortgage had vanished. “The incompetence of TSB continues; the app now works, but it would appear that I no longer have a mortgage. I assume that means you won’t be taking any money from me on payday?” she asked.
Paul Pester, the TSB chief executive, had suggested in a tweet early on Wednesday that issues with the botched IT upgrade were solved.
Paul Pester (@PaulPester)
Our mobile banking app and online banking are now up and running. Thank you for your patience and for bearing with us.
April 25, 2018
Some customers who had been locked out of their accounts for days were still unable to get into them on Wednesday, as TSB limited access to internet banking in an attempt to manage the scale of traffic.
A message on the bank’s website said: “We’re limiting access to internet banking. We’ve restricted the number of customers who can log in at once to ensure a good service once you’re in. So please bear with us and keep trying.”
A spokesperson for TSB said customers who were having trouble accessing the mobile app should shut it down completely and then reload.
The bank is facing a potential multimillion-pound compensation bill and regulatory fines for the crisis, which began on Friday night when TSB started a long-planned move of 1.3bn customer records from its former parent company, Lloyds Banking Group, to a platform built by TSB’s Spanish owner, Banco Sabadell. Customers had been told the transfer would be completed by 6pm on Sunday.
Small businesses were unable to pay salaries or manage transactions, while some account holders found all their direct debits had disappeared. Others reported that their cards were declined when shopping, and those who called TSB’s phone banking service reported waiting times of more than an hour.
Multimillion-pound bonuses to the chief executive and 30 other senior TSB staff were linked to the IT overhaul and are now under threat. The payouts include a potential £1.6m bonus for Pester. They were frozen after TSB was forced to delay the move from Lloyds to Sabadell last year.