From: RegTech Analyst
Some TSB Bank customers were left unable to make payments as the bank went through the kind of service outage lawmakers may soon put in more laws against.
On Friday November 22, TSB Bank stated on Twitter, “Some payments into TSB accounts have been delayed overnight and we are working to process these as soon as possible today. We apologize for the inconvenience this has caused and will ensure customers are not left out-of-pocket.
“If TSB customers need emergency cash contact us via the number on the back of their card. Customers can still use their cards to make payments or withdraw cash.”
The bank’s Twitter feed was subsequently flooded with angry customers wondering when they would be able to get their money to pay for trips and other purchases.
One person tweeted, “Yet again, @TSB leave customers high and dry with their disastrous IT infrastructure. I really can’t think of anything that @TSB have done that is helpful since the split from @LloydsBank.”
The bank later tweeted, “Overnight some payments were delayed in and out of TSB accounts. This has now been resolved and the payments have been completed. We apologize for any inconvenience this has caused.”
The news comes as British lawmakers are seemingly gearing up to amend the Senior Managers and Certification Regime (SM&CR) to make financial services organizations responsible for any digital service outage, meaning they could face sanctions for events like the one suffered from by TSB.
That would also include failure to minimize the risk of these types of outages.
The Treasury Committee made the argument after challenger bank Monzo suffered a similar service outage in July.
In October, FinTech Global broke the news that Revolut’s systems had locked out customers from their accounts.
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