Financial Conduct Authority in contact with TSB over online banking issues
Regulators have contacted TSB after customers reported significant problems accessing the high street challenger bank's online systems today, after planned upgrade work over the weekend.
The work was due to be wrapped up at 6pm on Sunday, but many customers were still reporting trouble into this afternoon, and the bank said it was still experiencing "intermittent problems" that were affecting services with the app and internet banking.
The bank had warned customers beforehand that it was carrying out upgrades to its online banking system between 4pm on Friday afternoon and 6pm on Sunday night.
Both the Financial Conduct Authority (FCA) and the Information Commissioner's Office (ICO) have made contact with TSB about the problems.
A spokesperson for the FCA said the City watchdog is "aware of the issue and liaising with the firm", while a spokesperson for the ICO said it is "making appropriate inquiries".
Read more: TSB belatedly starts new era after leaving Lloyds computer systems behind
The bank's website last night said that "all of our services are now up and running", but that message had been replaced by a statement saying "we're having some issues with some of our services" this evening.
Were planning an upgrade to our systems between 4pm Friday 20th of April until 6pm Sunday 22nd of April. Were sorry but during this time some services, like online banking, making payments or transferring money wont be possible. For details please visit https://t.co/jSmnTgJcDZpic.twitter.com/H3JWJtgNxC
— TSB (@TSB) April 19, 2018
But on Monday morning, customers were tweeting in droves saying the service was unavailable.
Any update yet…
— Michaela Turner (@Michaela_v89) April 23, 2018
This is not what I call "back up and running" @TSBpic.twitter.com/DBrUebFBzU
— Justin Taylor (@justinexists) April 23, 2018
@TSB whats up with the server still not able to log in?
— liam neish (@liam_NEISH) April 23, 2018
On Twitter, TSB has been apologising for the inconvenience, telling customers to try again later for the time being.
"Unfortunately, there are some intermittent problems affecting this service so please bear with us," the bank said. "Were working as hard as we can to resolve this."
In the afternoon, TSB said it did not have any timescales to provide on when the problems would be resolved, but said the team was "working to fix it as fast as we can".
The high street challenger bank has been hoping to take a big step forward, completing a computer migration from its former owner Lloyds Banking Group.
Some functionality is not due to work properly until the end of April, according to TSBs website last night.
Customers have been complaining about not being able to log into their internet banking accounts, being unable to transfer funds, and not being able to make payments.
The bank will follow a “phased approach” to allowing new customers to sign up online, although new sign-ups in branches will still be possible, it said last night.
A successful migration will though, be a relief for TSBs management when the problems are ironed out. They have previously pointed to potential cost savings of £100m per year from using their own platform.
Read more: TSB warns of 2018 profit dent from increasing Lloyds outsourcing fees
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