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Regulators are investigating TSB’s online and mobile banking problems.
Photograph: Tim Ireland/AP
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TSB’s botched IT “upgrade” has snowballed into a full-scale crisis, with up to 1.9 million customers locked out of their accounts for a fifth day, MPs demanding action and the bank facing a potential multimillion-pound compensation bill and regulatory fines.
In one of the worst IT problems to hit Britain’s banking sector in years, TSB took all its internet and mobile services offline for emergency repair work, after a migration to a new platform over the weekend backfired.
TSB’s chief executive, Paul Pester, apologised for the chaos on Tuesday morning, promising that services would resume by the afternoon and that “no one will be left out of pocket as a result of these service issues”.
Full story at Yahoo News.
By Patrick Collinson, Graeme Wearden and Julia Kollewe.
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