TSB drafts in outside help to fix IT chaos

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Consultants raised concerns in 2015 that the bank was not setting aside enough money for the "incredibly complex" project to move customers to a new online system.

TSB has said that it will waive overdraft fees and interest for April for its retail and small business customers, in addition to guranteeing that its customers will be compensated for any financial loss as a result of the problems.

Of course, customers can rest assured that no one will be left out of pocket as a result of these problems.

TSB's Spanish parent company has said normal service at the crisis-hit United Kingdom bank could drag on into next week as outages continued to blight customers for a seventh day.

Embattled bank TSB has claimed its IT systems are now "up and running" - despite many users still reporting they can't get into their accounts.

The disruption spilled over into branches as people demanded answers and TSB later admitted that several hundred customers had been wrongfully given access to customer data they should not have seen.

Asked whether he would take personal responsibility for the chaos, Pester said he had been "too busy to think about" resigning.

"From what has happened, it is clear to me that something seriously went wrong with TSB's procedures" on internal system testing, customer communications, information security management and data protection. It's not my decision, that's a focus for [the board].

Jaime Guardiola, CEO of Banco Sabadell, told analysts on Thursday that the migration onto its own IT kit from systems it rented from former parent company Lloyds had been problematic, The Guardian reports.

"I have drafted in a team of global experts from IBM". One of the steps we need to take to resolve this is to take our mobile app and online banking down for a few hours.

That work was scheduled to be completed on Sunday evening but left customers without access to their money. The bank has said they suffered from "intermittent" failures which prevented people being able to access their own accounts while a glitch allowed certain people a window into accounts they should not be able to view.

Pester said he was determined TSB would get back on it feet and continue to be a challenger bank to its bigger high street rivals such as Lloyds and HSBC. "We've restricted the number of customers who can log in at once to ensure a good service once you're in".

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