Business

TSB solves problem with standing orders

TSB cash machine Image copyright PA

TSB said problems with standing orders affecting some customers had been resolved.

The bank, which has been grapping with problems following an IT switchover, said any scheduled payments had now been processed.

Some customers complained on Tuesday that payments had failed to complete, with some raising concerns over standing orders.

TSB bosses face questions from MPs on Wednesday about the IT problems.

Problems began after TSB shut down services for two days from the evening of Friday, 20 April to move customer data from former owner Lloyds to a new IT system managed by its Spanish owner Sabadell.

As soon as the new system was switched on, customers reported problems which have persisted for some banking online and in branches.

On Wednesday, senior executives from TSB and Sabadell are appearing before the Commons' Treasury Committee.

They will face questions about the cause of the IT crisis, the information - at times contradictory - given to customers, and the plans to compensate those affected.

TSB chief executive Paul Pester will be giving evidence, alongside TSB chairman Richard Meddings, and Miquel Montes, the group chief operating officer at Sabadell.

The bank urged customers to log in through the official website, rather than via old bookmarks or links. Those having difficulties using the mobile app have been told to reinstall it.


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