Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Customers at Britain's TSB, RBS Irish bank hit by account issues

Published 24/04/2018, 17:06
© Reuters. FILE PHOTO: A sign is displayed outside a branch of the TSB bank in central London
NWG
-
SABE
-

LONDON/DUBLIN (Reuters) - Britain's TSB Bank, owned by Spain's Banco Sabadell (MC:SABE), faced continuing problems with its digital services on Tuesday as Royal Bank of Scotland's (L:RBS) Irish unit also reported an issue that led to salaries going missing from some accounts.

TSB, which apologised on Monday after some customers were unable to access their accounts online, said it needed to take its mobile application and online banking down for a "few hours" after working for 48 hours to fix the problem.

The bank said about 402 customers on Sunday were able to see data that they would not usually see online, often of so called "connected accounts" that family members typically use.

"I'm truly sorry," TSB Chief Executive Officer Paul Pester said in a statement, adding that the services should be back online later on Tuesday.

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.

"Customers can rest assured that no one will be left out of pocket as a result of these service issues," TSB's Pester said.

Ulster Bank, the Irish unit of RBS, said on Tuesday that it was aware that some transactions applied to accounts in the Irish Republic over the last five days were not appearing.

The bank, which offered its customers access to emergency cash at its branches, said it had fixed the issues to facilitate the recovery of the funds overnight and that the problem was the result of a human error, not connected to a 2012 IT issue.

The bank, Ireland's third largest, suffered a huge system crash in 2012 that deprived customers of basic banking services for almost a month and cost it 59 million euros in compensation and a 3.5 million euro fine from the country's central bank.

Customers had complained to the bank's customer services account on Twitter that large sums were missing, debit cards had been declined and in some cases accounts were overdrawn.

© Reuters. FILE PHOTO: A sign is displayed outside a branch of the TSB bank in central London

"It's a very concerning development for any customer of any bank to be worried about where their money has gone," Irish Finance Minister Paschal Donohoe told reporters earlier on Tuesday, adding that the central bank was reviewing the matter.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.