TSB mortgage accounts and some payments still not functioning properly as computer problems enter third week

 
Jasper Jolly
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TSB's computer systems are still under the weather during the bank holiday

Computer problems at TSB have continued into their third week with customers still unable to access their mortgage accounts online.


Upcoming credit card payment information is also unavailable online for some customers, leaving them in the dark if they do not have paper statements. Some payments through the mobile app and internet banking are also not functioning.

The high street challenger bank’s chief executive, Paul Pester, has promised that no customers will be out of pocket following the chaos, which left thousands of customers with no access to their accounts.

The meltdown started on 22nd April, when the bank attempted to migrate customer data from systems run by former owner Lloyds Banking Group to a new platform built by Spanish parent company Sabadell.

Pester will not receive a bonus tied to successful completion of the integration, the bank revealed last week to the Treasury Select Committee during sometimes testy exchanges.


At the end of last week the bank had faced more than 40,000 complaints following the meltdown, 13 times more than the average for this period. Call waiting times are still significantly higher than usual, the bank said today on its website.

TSB was forced to call in computing experts from IBM, as well as consultants from Deloitte, in an effort to get a grip on the chaos. It has also called in Magic Circle law firm Slaughter and May to review the crisis and work out if there were any governance failures.

Costs to the firm of an earlier decision to delay from a November aim and subsequent fee waivers and potential compensation have already exceeded £100m. Meanwhile, TSB chair Richard Meddings remained tight-lipped after MPs questioned him over potential legal action against its own parent company if it is found to share some of the blame.

A TSB spokesperson said: “Everyone at TSB is working around the clock to fix the issues some of our customers have been experiencing, and progress is being made.

“Our focus remains on getting things back to normal for our customers as soon as possible, and we will ensure that no customer is left out of pocket as a result of these issues.”

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