Posted on May 2, 2018 by staff

TSB bosses to be grilled over IT crisis


Bosses at TSB are set to be quizzed by MPs today over the bank’s IT meltdown, which left hundreds of thousands of customers unable to access their bank accounts.

Chief executive Paul Pester and chairman Richard Meddings are due to appear before the Treasury select committee on Wednesday after its chair Nicky Morgan demanded answers over the debacle.

The pair will be joined by Miquel Montes, chief operating officer at TSB’s Spanish owner Sabadell.

TSB has this week warned its customers of a potential rise in fraud attempts following the IT failure.

The bank encouraged users to be extra vigilant for scams after some customers had received fraudlent emails and tweets requesting security details.

TSB shut down its services for two days from the evening of 20th April to transfer customer data from Lloyds (its former owner) to a new IT system managed by Sabadell.

When the new system was switched on during Sunday evening, customers faced a range of difficulties and bugs, including reportedly seeing other people’s account details.

Yesterday, TSB reassured customers that the issue affecting a number of standing orders has “now been resolved and scheduled payments have been processed”.