MSE News

20,000+ TSB complaints yet to be resolved

20,000+ TSB complaints yet to be resolved

TSB has still to resolve 23,000 of the 204,000 customer complaints received since the start of its IT problems last April, the bank has revealed today.

The bank has estimated that about 75% of the 204,000 complaints it has had since the IT issues were linked to the problems themselves, and says that the number it is receiving now is close to the levels it was getting before its problems began.

It announced its 2018 full year results this morning and revealed the IT meltdown costs totalled £330 million, which includes customer compensation payouts, but it has recovered £153 million from its IT provider.

We've heard from customers who have got more than £1,000 back for their troubles, so if you had an issue that left you out of pocket, it may still be worth complaining.

See our TSB Online Banking Problems guide for full information on how to do so.

What were TSB's IT issues?

TSB's IT disruption started on 20 April 2018 and saw many locked out of online banking and its mobile app.

In some cases, customers were even given access to other people's accounts and in other cases, customers were stopped from switching to another bank. Wider problems continued throughout the summer.

'Just had confirmation of £1,150 compensation'

If you think you lost out as a result of the unexpected outage, you can try to reclaim.

Some have told MoneySavingExpert.com that they've been awarded compensation for the inconvenience and loss they've faced as a result of the problems. 

Perhaps the most successful was Steven, who told us: "Complained to TSB about issues with their online banking... just had confirmation of £1,150 in compensation.

"I wasn't able to log in which made me late on paying a few things and made remortgaging a little trickier but I felt like the amount awarded was rather disproportionate for my inconvenience. I was expecting maybe £75!"

Another user told us: "I wrote a letter of complaint in May to TSB regarding its online banking problems. It paid £200 into my account last week. Result – and I'm now changing bank. Thanks."

Another said: "I got £73 compensation. I'm over the moon it's sorted, I've been able to breathe this week."

What does TSB say?

TSB executive chairman Richard Meddings said: "Last year was TSB's most challenging year. But we enter 2019 with renewed ambition to re-emerge as the leading challenger bank in the UK – firmly on the side of the customer."

He added: "Whilst the migration [TSB's upgrade to a new platform] caused considerable difficulties, we're now a stronger bank, operating on a more coherent and modern platform, and able to service more customers than ever before."