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TSB and Sabadell questioned on online banking problems

30 April 2018

Following the widespread reports of IT problems at TSB, including access to its online banking services, the Treasury Committee will take evidence from TSB and its parent company Sabadell on Wednesday 2 May.

The witnesses will be Dr Paul Pester, Chief Executive of TSB, Richard Meddings, Chairman of TSB, and a representative from Sabadell (tbc).

Rt Hon. Nicky Morgan MP, Chair of the Treasury Committee, wrote to Dr Pester on Tuesday 24 April to find out what has gone wrong, the extent of the failure, and how TSB intends to compensate customers who have suffered a breach of potentially highly-sensitive personal data. Dr Pester responded on Friday, and his letter has been published today.

Chair's comments

Commenting on the correspondence, Mrs Morgan said:

"The Treasury Committee is extremely concerned by the problems at TSB, and by the apparent miscommunication to customers about the extent and nature of these problems.

It's been reported that services such as online banking have been down for some TSB customers for over a week. Many individuals and businesses will have made arrangements for the planned outage, but not for the additional time that the systems have been unavailable.

We will take evidence from TSB and Sabadell representatives to find out how they got into this mess, who is responsible, and how they are putting it right."

Further information

Image: iStockphoto