TSB online banking customers were stopped from switching to rival banks in the middle of IT meltdown
TSB customers were stopped from switching to rival providers in the middle of the bank's IT meltdown.
Many people have threatened to quit the bank after more than 10 days of online banking chaos, which left millions unable to access their money or pay their bills.
TSB meltdown: what are your rights?
IF you’re one of the potentially millions of customers affected by TSB’s online banking problems then here are your rights.
- Will your expenses be covered? If you suffer knock-on costs then the bank has confirmed it will reimburse you. Make a note of dates, keep reciepts and a log of how much you've been left out of pocket.
- What are the alternatives? Visit a branch or try telephone banking if you urgently need to access cash.
- Is it a data breach? The bank has denied that there has been a data breach but we've asked for more information on this and will update asap. Don't spend money in your account that isn't yours as you will be liable to pay it back.
- How to complain about your bank? Firstly, complain to TSB. If the problem is not resolved to your satisfaction after 8 weeks then you can complain to the Financial Ombudsman Service.
She told MSE: "I applied last Tuesday and got a text today saying it couldn’t be done and when I called they advised TSB couldn’t process the switch."
Deborah Reilly, another customer from Johnstone in Renfrewshire, went to her local M&S bank branch earlier this week to initiate a switch because she was unhappy with TSB's online banking problems.
She told MSE: "I tried to do a bank account switch to be told TSB have put out an alert to all banks informing them not to accept switches from TSB customers as their systems are down."
More than a week after problems first emerged, TSB’s online services continue to run below capacity, with some customers reporting they are still blocked from their accounts.
What is TSB saying about switching
HERE's what a spokesperson for TSB told the Sun Online
"On Friday we experienced a temporary issue with customers being able to switch their bank account from TSB to another provider.
"Whilst we implemented a fix, we asked CASS to advise other banks to temporarily hold switching requests from TSB customers for a short period of time.
"The CASS service is now running as normal and customers can continue to switch from TSB. We have informed all CASS participants."
Some customers affected by the banking glitch claim that they have seen other TSB users’ bank account details when they log into their accounts online and in its app.
The bank has insisted that standing orders are going in and out of accounts on Tuesday, but many customers have complained that they've not gone through.
The Sun Online spoke to a dad-of-four who was forced to borrow money from his son's savings account to pay for nursery fees following the online banking service meltdown.
We also reported how a mum-of-three was left unable to pay her rent, bills or buy food due to the glitch.
TSB's boss Paul Pester is to face intense questions from MPs later today to explain to explain how TSB’s IT systems collapsed and how they will compensate affected customers.
He will be giving evidence, alongside TSB chairman Richard Meddings, and Miquel Montes, the group chief operating officer at Sabadell.
Last week the bank said it would waive overdraft fees this month and offer a five per cent raise in its savings rate after millions were locked out of their online banking.
Have you lost money in the TSB banking meltdown? Here’s our guide on how to get it back.
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