TSB online banking problems – who’s affected and what can you do?

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TSB customers are still having problems getting online and using the mobile app, almost two weeks after the bank took down access to its online banking and mobile app after problems moving to a new IT system.

What’s the latest?

As of 12.15 pm on Friday 4th May, TSB online and mobile banking still has intermittent problems. There are also problems in some branches, with payments, some customers are reporting fraud on their accounts and some customers have had standing orders that have not gone through.

TSB’s chief executive said that all overdraft fees and interest charges for personal and small business customers would be waived for the months of March and April. He also said that the interest rate for customers in credit on its current account would be increased from 3% to 5%. He’s also said that no one will lose out financially as a result of the IT problems.

This is the latest advice from TSB (as at 7 am on 4th May):

Problems getting online: TSB says its mobile app and internet banking are available, but if you’re having difficulty logging in, please try closing your mobile app fully and then restarting it, or closing your internet browser and trying again.

Calling TSB: Call centres are currently busier than usual and it may take longer than normal to help you. When he gave evidence to the Treasury Select Committee on Wednesday, Chief Executive Paul Pester said that the average wait time is 30 minutes. However he didn’t have any advice other than ‘try again’ for customers who couldn’t get through. The call centre number is 03459 758 758 or 0345 835 3843

Branches: Branches are busier than usual. TSB has told me there isn’t a problem with the branch network, but that’s not what customers are saying on social media. You can find your nearest TSB branch on its website (you don’t have to log on for this bit).

Checking your balance: You can check your balance at any LINK cash machine if you can’t log on. You can also get a mini statement at any TSB cash machine.

Viewing your accounts: TSB says that all accounts, except for mortgages, can be viewed online (assuming you can log on, of course!). If you need to speak to TSB about your mortgage, it recommends you go to a branch. Some customers are having problems viewing information about their next credit card payment online because their internet banking inbox is currently unavailable.  They’re trying to fix this.

Debit cards: are working normally and can be used at an ATM to view your balance and withdraw cash.  You can get cashback from many high street shops across the UK.  If you are having problems using your debit card you can call TSB (but there may be a very long wait).

Direct debits/standing orders and payments: Direct debits and standing orders are working normally (they weren’t earlier in the week). Payments through their mobile app and internet banking are available, aren’t working normally for everyone (you may get an error message, for example). If you asked for a text with a ‘one time password’ you may not have received it.  TSB says if you are trying to pay a bill (e.g. your water bill), you can use your debit card.

Receiving money: Payments made into accounts are working normally.

Business customers: Some business customers can’t make payments. The only advice TSB gives is to go to a branch or ring its call centre.

How many people are affected?

TSB doesn’t have any definitive figures for the number affected. Initially it said only a minority of its 1.9 million customers who use online or mobile banking were affected. The bank has almost 5.5 million customers but most don’t use online or mobile banking. On Wednesday it told the Treasury Select Committee that it had received complaints from 40,000 customers. If you want to see TSB being questioned/grilled by the Treasury Select Committee, you can watch it here (the link takes you to the Parliament.tv website).

What can I do?

There’s no easy answer. TSB says you should call its telephone banking line or go into a branch. The call centre number is 03459 758 758. The bank’s chief executive has said very clearly that no-one will lose out as a result of the online and mobile banking problems.

So, if you’ve incurred bank or credit card charges because you haven’t been able to make payments, TSB should compensate you for that. You should also be able to get compensation if you missed out even if you’re not a TSB customer – for example if you were due to be paid by someone who’s a TSB customer. I’d also claim compensation for inconvenience, especially if you’ve been kept on the phone for a long time or have had to make other plans because you can’t pay bills.

If you don’t get anywhere, complain to the Financial Ombudsman Service and you can use the free complaints service Resolver if you want to be guided through the steps you need to take to complain. It may also be worth contacting your MP or emailing the Treasury Select Committee.

How to complain

The easiest way to complain is to do so online. Here’s the link to the TSB online complaints form.  You can also complain in a branch or in writing if you prefer.

Will it affect my credit rating?

TSB should take steps to make sure your credit rating isn’t affected. If you make a payment that’s a few days late, it may not affect your credit rating because lenders only send information to the credit reference agencies once a month. However, the company you’re late paying may charge you (especially if it’s something like a credit card company).

I’ve tried to find out from TSB what steps it’s taking to stop people’s credit rating from being damaged, but it will only say it’s looking into this.

Watch out for fraudulent emails and texts

I’ve received a fraudulent email that was designed to look like it was from TSB. It asked me to reset my password. As I’m not with TSB, I knew it wasn’t from them, but be warned that fraudsters are capitalising on what’s happened. Don’t click on a link from an email that looks like it’s from TSB.

Can I switch bank?

You can switch to another bank if you’re fed up with TSB. Bear in mind that it will take seven working days from when you open the account with the new bank or building society. That’s assuming that the bank you’re moving to is part of the current account switching service. Most banks and building societies are, but some of the smaller ones are not.

The bank you’re switching to has to handle it all and it’s their responsibility if it doesn’t go through smoothly.

Related articles:

Not happy with your financial provider? Complain to the Financial Ombudsman Service 

Cashback to switch banks – switch banks and get up to £200

Online-only banks – six digital-only banks

What is open banking; open banking explained

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