TSB internet banking still running at half capacity
TSB's online banking services are still only running at half capacity, a week after problems first emerged with a migration of computer systems which has dented the reputation of the high street bank.
A spokesperson said that internet banking is running at around 50 per cent of its full capacity, meaning half of all log-in attempts will fail, although mobile banking is now running at 90 per cent.
The bank's website said mobile and internet banking services are "up and running", but customers are still not able to access their mortgage accounts except in a branch.
We have made Internet banking and Business banking available again but some customers may still have difficulties accessing and using these services. We are working hard to address these issues. Our mobile app is also available.
— TSB (@TSB) April 29, 2018
Read more: TSB boss set to lose millions in bonuses as IT meltdown costs top £100m
Business bank customers are still having difficulty making payments, while retail customers may also face contined issues.
The problems for the high street challenger bank began last week when an already delayed move from former owner Lloyds to new computer systems caused significant issues for thousands of customers. After initially reporting the move had gone to plan, the bank was forced to carry out emergency works throughout last week, eventually calling in consultants from computing giant IBM to help.
The migration had already been delayed from the initial November plan, with the bank saying it did not want to carry out work around a potential interest rate hike.
Read more: TSB brings in team of experts from IBM to help tackle online banking chaos
The cumulative costs of the delay and subsequent meltdown have already easily exceeded £100m, with a hefty bill for compensation from customers shut out from their accounts likely to come through. TSB chief executive Paul Pester told the Sunday Times the bank will consider compensation claims from non-customers as well as account holders if they have lost out as a result of the crash.
The bank has already promised to waive overdraft fees and interest charges for April, at a cost of £10m, as well as increasing the interest rate offered to savers in a bid, which could cost as much as £30m, to retain customers.
Read more: TSB waives overdraft fees and interest charges for small business customers
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